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)
- What do you understand by Public Finance?
- Name the cannons of Public Expenditure.
- Differentiate between tax and fines.
- List out the various types of Public Expenditure.
- What do you mean by the ‘Incidence of Taxation’?
- What do you mean by taxable capacity?
- Briefly explain the cost of service theory.
PART – B
Answer any FOUR questions not exceeding 250 words each: (4 x 10 = 40 Marks)
- Differentiate between Public Finance and Private Finance.
- Explain the various sources of Public Revenue.
- Briefly explain the various cannons of Taxation.
- Define a ‘tax’. Give an account of the characteristics of a good tax system.
- Explain the factors determining taxable capacity.
- Explain a Progressive Tax. Give its merits and demerits.
- Bring out the objectives of Fiscal Policy.
PART – C
Answer any TWO questions in about 900 words each: (2 x 20 = 40 marks)
- Explain the Principle of Maximum Social Advantage. What are the difficulties in its application?
- Discuss the effects of Taxation on Production, Distribution and Consumption.
- Critically examine the Ability to pay theory of taxation.
Explain the various theories of incidence of taxation.
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