Please select a subject first
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"Definition - Public finance is one of those subjects which are on the borderline between economics and politics." given by:
- Adam Smith
- Alfred Marshall
- Prof. Hugh Dalton
- Prof. Findlay Shirras
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Distinguish between the following concepts:
Public Finance and Private Finance
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State with reason whether you agree or disagree with the following statement:
The obligatory function is the only function of the Government.
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State with reason whether you agree or disagree with the following statement:
Public finance is more elastic than private finance.
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Read the given passage and answer the questions:
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The conventional notion of social security is that the government would make periodic payments to look after people in their old age, ill health, disability, and poverty. This idea should itself change from writing a cheque for the beneficiary to institutional arrangements to take care of beneficiaries, including by enabling them to look after themselves, to a large extent. The write-a-cheque model of social security is a legacy from the rich world at the optimal phase of its demographic transition when the working population was numeral enough and earning enough to generate the taxes to pay for the care of those not working. This model is ill-suited for less, well-off India with growing life expectancy, increasing urbanization, and resultant migration. Social security under urbanization will be different from social security in a static society. |
- State the conventional notion of social security.
- What kind of conceptual change is suggested in the given paragraph?
- What is the legacy of social security from the rich world?
- Which features of India make the traditional model of social security ill-suited for the economy?
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Find the odd word out:
Financial Assets:
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Features of index numbers:
- It is useful in framing suitable economic policies.
- It is useful to present financial data in real terms
- Index numbers are statistical devices.
- Index numbers are specialized averages.
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______: Protection from external attacks :: Optional function : Provision of social security
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Index numbers that measure changes in the level of output or physical volume of production in the economy −
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Device that measures changes in an economic variable or a group of variables over a period of time –
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Find the odd word
Types of index numbers -
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Find the odd word
Optional functions of Government -
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Index number was originally developed to measure ______.
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Index number which is computed from a single variable called is a ______.
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Assertion (A): Index numbers are statistical devices.
Reasoning (R): Index numbers measure only changes in the price level over a period of time.
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Identify & explain the concept from the given illustration.
Bombay Stock Exchange has developed “Sensex” as a stock market index for reflecting the share prices of listed companies.
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Identify & explain the concept from the given illustration.
Agricultural Research Institute constructed an index number to measure changes in the production of raw cotton in Maharashtra during the period 2015-2020.
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Construct Quantity index number from the given data:
| Commodity | A | B | C | D | E |
| Base year quantities | 170 | 150 | 100 | 195 | 205 |
| Current year quantities | 90 | 70 | 75 | 150 | 95 |
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Identify the right group of pairs from the given options.
| Group A | Group B |
| i) Direct tax | a) Non-tax revenue |
| ii) Indirect tax | b) Inflation |
| iii) Fees and Fines | c) GST |
| iv) Surplus budget | d) Personal income tax |
| v) Deficit Budget | (e) Non-tax revenue |
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Assertion and reasoning question:
- Assertion (A): The index number considers all factors.
- Reasoning (R): The index number is based on samples.
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