LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A.

RF 41

DEGREE EXAMINATION –ECONOMICS

FIFTH SEMESTER – APRIL 2007

EC 5503 – FISCAL ECONOMICS

 

 

Date & Time: 02/05/2007 / 1:00 – 4:00            Dept. No.                                                      Max. : 100 Marks

 

 

Part  – A

 

Answer any FIVE questions in about 75 words each.                      (5 x 4 = 20 marks)

1. Explain in brief the definition of public finance given by Prof. Dalton.
2. What is the effect of public expenditure on consumption?
3. Distinguish between incidence and impact of a tax.
4. What is meant by corporation tax?
5. State the difference between public debt and private debt.
6. Write short notes on deficit budget and deficit financing.
7. What do you understand by pump priming and compensatory spending?

Part – B

 

Answer any FOUR questions in about 300 words each.                  (4 x 10 = 40 marks)

8. Explain the importance of public finance in an underdeveloped country.
9. Differentiate between proportional and progressive taxation. Give arguments for and against progressive taxation.
10. Briefly explain the main items of revenue of Indian Government.
11. What is fiscal policy? Discuss its components.
12. Examine the effects of taxation on production and distribution.
13. Critically examine the ability to pay theory of taxation.
14. Elucidate the argument for and against tax on agricultural income.

 

Part – C

 

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

15. Discuss fully the various canons of pubic expenditure. Is public expenditure in India based on these canons?
16. What is meant by direct and indirect tax? Distinguish between direct and indirect taxes and explain the merits and demerits of the same.
17. Explain in detail the importance of public debt in a developing economy. Examine critically the economic effects of public debt.
18. Critically examine the union budget, 2006.
19. Go To Main Page

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