Advanced Fiscal Administration 2025
Advanced Fiscal Administration 2025
Questions and approved answers
Market Failure - ✔✔✔Market Failure is a concept within economic theory describing when the
allocation of goods and services by free market is not efficient. That is, there exists another
conceivable outcome where a market participant may be made better-off without making
someone else worse-off. (The outcome is not Pareto Optima).
Line-Item Veto - ✔✔✔The Line-Item Veto, or partial veto, is a special form of veto that
authorizes a chief executive to reject particular provisions of a bill enacted by a legislature
without vetoing the entire bill. Many countries have different standards for invoking the line-item
veto, if it exists at all. Each country and/or state has its own particular requirement for overriding
a line-item veto.
What is a concept within economic theory describing when the allocation of goods and services
by a free market is not efficient. That is, there exists another conceivable outcome where a market
participant may be made better-off without making someone else worse-off. (The outcome is not
Pareto Optimal). - ✔✔✔C-Market Failure
, Advanced Fiscal Administration 2025
International Labor Organization - ✔✔✔The International Labor Organization is a United
Nations Agency dealing with Labor issues, particularly international labor standards and decent
work for all. 185 of the 193 UN members are members of the International Labor Organization
Social Insurance - ✔✔✔Social insurance is any government sponsored program with the
following four characteristics:
=The benefits, eligibility requirements and other aspects of the program are defined by statue;
=Explicit provision is made to account for the income and expenses
=It is funded by taxes or premiums paid by (or on behalf of) Participants (although additional
sources of funding may be provided as well).
=And, the program serves a defined population, and participation is either compulsory or the
program is subsidized
heavily enough that most eligible individuals choose to participate.
Social insurance has also been defined as a program where risks are transferred to and pooled by
an organization, often governmental, that is legally required to provide certain benefits.
Government programs under which people pay into a common pool and are eligible to draw on
benefits under certain circumstances
Stabilization Policy - ✔✔✔A stabilization policy is a package or set of measures introduced to
stabilize a financial system or economy. The term can refer to policies in two distinct sets of
circumstances: business cycle stabilization and crisis stabilization.
Business cycle stabilization
Stabilization can refer to correcting the normal behavior of the business cycle.
In 1969, the organization received the Nobel Peace Prize for improving peace among classes,
pursuing justice for workers, and providing technical assistance to developing nations.
Advanced Fiscal Administration 2025
Questions and approved answers
Market Failure - ✔✔✔Market Failure is a concept within economic theory describing when the
allocation of goods and services by free market is not efficient. That is, there exists another
conceivable outcome where a market participant may be made better-off without making
someone else worse-off. (The outcome is not Pareto Optima).
Line-Item Veto - ✔✔✔The Line-Item Veto, or partial veto, is a special form of veto that
authorizes a chief executive to reject particular provisions of a bill enacted by a legislature
without vetoing the entire bill. Many countries have different standards for invoking the line-item
veto, if it exists at all. Each country and/or state has its own particular requirement for overriding
a line-item veto.
What is a concept within economic theory describing when the allocation of goods and services
by a free market is not efficient. That is, there exists another conceivable outcome where a market
participant may be made better-off without making someone else worse-off. (The outcome is not
Pareto Optimal). - ✔✔✔C-Market Failure
, Advanced Fiscal Administration 2025
International Labor Organization - ✔✔✔The International Labor Organization is a United
Nations Agency dealing with Labor issues, particularly international labor standards and decent
work for all. 185 of the 193 UN members are members of the International Labor Organization
Social Insurance - ✔✔✔Social insurance is any government sponsored program with the
following four characteristics:
=The benefits, eligibility requirements and other aspects of the program are defined by statue;
=Explicit provision is made to account for the income and expenses
=It is funded by taxes or premiums paid by (or on behalf of) Participants (although additional
sources of funding may be provided as well).
=And, the program serves a defined population, and participation is either compulsory or the
program is subsidized
heavily enough that most eligible individuals choose to participate.
Social insurance has also been defined as a program where risks are transferred to and pooled by
an organization, often governmental, that is legally required to provide certain benefits.
Government programs under which people pay into a common pool and are eligible to draw on
benefits under certain circumstances
Stabilization Policy - ✔✔✔A stabilization policy is a package or set of measures introduced to
stabilize a financial system or economy. The term can refer to policies in two distinct sets of
circumstances: business cycle stabilization and crisis stabilization.
Business cycle stabilization
Stabilization can refer to correcting the normal behavior of the business cycle.
In 1969, the organization received the Nobel Peace Prize for improving peace among classes,
pursuing justice for workers, and providing technical assistance to developing nations.
