CUET-UG Economics / Business Economics Test: Public Finance (Government Budget & Economy) — Flashcards | CUET | FatSkills

CUET-UG Economics / Business Economics Test: Public Finance (Government Budget & Economy) — Flashcards

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Public finance is the study of the role of the government in the economy. It is the branch of economics that assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones.

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It is generally believed that a rise in the tax rate would normally lead to a rise in the revenue. But there is also a view the reduced rates on income tax would lead to a significant rise in income tax revunue. This later view has been attributed to
Arthur Laffer
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