What is meant by excise?
Correct answer: C. Both of them
- A. A tax levied on certain articles produced and consumed in a country
- B. A licensing charge or a fee levied for certain privileges
- C. Both of them
- D. None of them
Explanation
Excise traditionally means a tax on particular goods manufactured or consumed within a country, and the term can also cover a licence fee for certain regulated privileges. Thus both descriptions are accepted in standard dictionary and fiscal usage.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Public Finance
Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
Practise Public Finance
406 free Public Finance MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Public Finance questions
What is Debt retirement______________?
What is called a Tax on imports, exports ?
Fiscal deficit in the budget means ?
What is Debt Service ?
Term a tax that is levied by a country of source on income paid, usually on dividends remitted to the home country of the firm operating in a foreign country?
Investment funds are established for the supports of institutions such as hospitals investment is called ?