Practice JUPEB ECONOMICS – MSS – J133 Past Questions Essay and Objectives

26. The principle that specified that the amount, when and how to pay tax should made


known to tax payer is known as

A. Principle of convenience  B. Principle of economy  

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C. Principle of simplicity  D. Principle of certainty 

27. Public corporation is financed with

A. Tax payer’s money 

B. Capital raised from shareholders

 C. Capital contributed by owners  

D. Capital raised from stock exchange.

28. J. M. Keynes is the strong advocate of A.   Monetary policy

B.   Income policy 

C.   Fiscal policy 

D.   Options A, B and C. 

29. If commodities X and Y are substitute, their cross elasticity of demand will be A. Positive 

B. Zero  C. One 

D. Negative. 

30. Which of the following is an example of free good?

 A. Dinner you did not pay for.

 B. Your rented apartment. 

 C.  Free education.

 D. Water in the ocean. 

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