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Semester -IV Public Finance
Semester -IV Public Finance Important questions Unit-1 1) Evolution of public finance? 2) Meaning, nature, scope and subject matter of public finance? 3) Public good and private good? 4) Market mechanism in public and private goods? 5) Role of state in economics development? Unit – 2: public expenditure. 1) Wagner’s law of expenditure/ increasing state activities? 2) Peacock’s- wisemen hypothesis? 3) Principle of maximum social advantage? 4) Causes for rise in the public expenditure? 5) Effects of public expenditure? 6) What are the cannons of public expenditure? Unit – 3: Taxation and public debt. 1) Define public revenue? Its sources? 2) Meaning of taxation and types? 3) Cannons of taxation? 4) Approaches to taxation? 5) Progressive, regressive & proportional taxes? 6) Impact and incidence of taxation? 7) Shifting of taxation and theories? 8) Elasticity a
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