Match items in List-I with the items in List-II: List-IList-II (a) Law of increasing state activity (i)…
The matching is law of increasing state activity with Adolph Wagner, displacement effect with Wiseman and Peacock, federal finance with R. N. Bhargava, and functional…
Choose your answer
Match items in List-I with the items in List-II:
| List-I | List-II |
|---|---|
| (a) Law of increasing state activity | (i) R. N. Bhargava |
| (b) Displacement effect | (ii) Adolph Wagner |
| (c) Federal finance | (iii) Wiseman and Peacock |
| (d) Functional finance | (iv) A. P. Lerner |
Answer and explanation
Correct answer B
The matching is law of increasing state activity with Adolph Wagner, displacement effect with Wiseman and Peacock, federal finance with R. N. Bhargava, and functional finance with A. P. Lerner. Wagner concerns the expansion of state activity, while the displacement effect concerns a shift in public expenditure after major disturbances. Functional finance evaluates fiscal policy by its effects on the economy.
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West Bengal SET (WB SET)