(a) Unlimited deficit financing

(b) Preparing the budget neglecting history of expenditure

Both (A) and (B)

None of the above

R. A. Musgrave

H. Dalton

F. Shirras

J. K. Mehta

Reduction in Public Expenditure

Increase in Taxes

Increase in Public debt

All the above

The sum of wages, interest, rent and profit

National income at factor costs plus indirect taxes

The sum of all factor payments plus indirect taxes minus subsidies

Value of goods and services produced in a country

Employment of labour

Utilization of capital

Utilization of natural resources

Utilization of all the resources