LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

FOURTH SEMESTER – APRIL 2012

EC 4504 – FISCAL ECONOMICS – I

 

 

 

Date : 24-04-2012              Dept. No.                                       Max. : 100 Marks

Time : 1:00 – 4:00

 

PART – A

 

Answer any FIVE questions not exceeding 75 words each:                         (5 x 4 = 20 marks)

 

1. What do you understand by Public Finance?
2. Name the cannons of Public Expenditure.
3. Differentiate between tax and fines.
4. List out the various types of Public Expenditure.
5. What do you mean by the ‘Incidence of Taxation’?
6. What do you mean by taxable capacity?
7. Briefly explain the cost of service theory.

                             

PART – B

 

Answer any FOUR questions not exceeding 250 words each:                (4 x 10 = 40 Marks)

 

8. Differentiate between Public Finance and Private Finance.
9. Explain the various sources of Public Revenue.
10. Briefly explain the various cannons of Taxation.
11. Define a ‘tax’. Give an account of the characteristics of a good tax system.
12. Explain the factors determining taxable capacity.
13. Explain a Progressive Tax. Give its merits and demerits.
14. Bring out the objectives of Fiscal Policy.

                              

PART – C

 

Answer any TWO questions in about 900 words each:                                  (2 x 20 = 40 marks)

 

15. Explain the Principle of Maximum Social Advantage. What are the difficulties in its application?
16. Discuss the effects of Taxation on Production, Distribution and Consumption.
17. Critically examine the Ability to pay theory of taxation.

Explain the various theories of incidence of taxation.

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