May be defined as the aspect of economics which deals with government revenue and expenditure.

Here are the solutions to the objective questions:

1. $\boxed{\text{a. Public finance}}$
Public finance is the branch of economics that studies the role of the government in the economy, focusing on government revenue (taxation) and government expenditure.

2. $\boxed{\text{c. Fiscal policy}}$
Fiscal policy refers to the use of government spending and taxation to influence the economy, aiming to achieve macroeconomic goals like economic growth, employment, and price stability.

3. $\boxed{\text{a. Creation of employment}}$
A key objective of fiscal policy is to stimulate economic activity, which in turn leads to the creation of employment opportunities.

4. $\boxed{\text{b. Government expenditure}}$
Government expenditure encompasses all spending by public authorities at various levels of administration within a country.

5. $\boxed{\text{a. Incidence of taxation}}$
The incidence of taxation determines who ultimately bears the financial burden of a tax, which may not always be the party legally obligated to pay it.

6. $\boxed{\text{True}}$
The tax base is indeed the specific item, asset, or activity upon which a tax is levied, such as income, property, or sales.

7. $\boxed{\text{c. Increase level of prices}}$
A country's budget aims to achieve objectives like resource allocation and communicating economic policies. Increasing the level of prices (inflation) is generally an undesirable outcome, not an objective.

8. $\boxed{\text{c. Treasury bills}}$
Treasury bills are short-term debt instruments issued by the government to finance its short-term needs, including budget deficits. Country bonds are also a way, but Treasury bills are a very common instrument.

9. $\boxed{\text{b. 2}}$
The two major types of tax are direct taxes (e.g., income tax) and indirect taxes (e.g., sales tax).

10. $\boxed{\text{a. Failure to fulfill civic responsibility}}$
One significant difficulty in tax collection arises from the failure to fulfill civic responsibility, leading to tax evasion and non-compliance.