What is the benefits principle of taxation?

Taxation should be based on income levels.

Taxes should be levied based on the ability to pay.

Taxes should be determined by the supply and demand of goods.

Taxes should reflect the benefits received from government services.

What is the difference between impact and incidence in terms of taxation?

Impact is on the one who finally bears the tax, while incidence is on the person who pays it initially.

Impact and incidence are two terms referring to the same concept in taxation.

Impact refers to the process of tax shifting, while incidence is the final resting place of a tax.

Impact is the final resting place of a tax, while incidence refers to the process of tax collection.

How does elasticity of demand affect the shifting of a tax burden?

Higher elasticity of demand leads to easier tax shifting.

Lower elasticity of demand leads to easier tax shifting.

Elasticity of demand has no impact on tax shifting.

Elasticity of demand only affects the incidence of a tax.

What is the main objective of studying the incidence of taxation?

To determine the legality of taxation.

To understand the impact of taxation on government revenue.

To assess the effects of taxation on economic growth.

To ensure a just distribution of the tax burden.

How does the nature of demand for commodities influence the shifting of a tax?

Commodities with inelastic demand lead to tax shifting to buyers.

Commodities with elastic demand lead to tax shifting to buyers.

Demand for commodities has no impact on tax shifting.

Tax shifting is only affected by the supply of commodities.

How does the policy of the government affect the shifting of a tax?

Government policies have no impact on tax shifting.

Strict government policies always prevent tax shifting.

Government policies can either encourage or discourage tax shifting.

Tax shifting is solely determined by market conditions.

What is the fiscal objective of taxation mentioned in the text?

To achieve regional balanced development.

To create a diverse tax structure.

To influence the willingness to work and save.

To raise revenue for government expenditures.

How does a steeply progressive taxation system affect income distribution?

It increases income inequality.

It has no impact on income distribution.

It has a neutral effect on income distribution.

What is one of the key requirements of a good tax structure mentioned in the text?

Lack of transparency in tax laws.

Excessive interference with economic decisions.

Neutrality and minimal interference with efficient markets.

Public Revenue Free MCQ Practice Test with Solutions

	Public Finance 37 videos\|35 docs\|15 tests

	Public Finance 37 videos\|35 docs\|15 tests

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