ICS Part 2 Economics English Medium Online Test With Answers

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ICS Part 2 Economics English Medium Online Test

Sr. # Questions Answers Choice
1 InPakistan government budget is prepared by National Assembly Presidnet of Pakistan Ministry of Finance State Bank of Pakistan
2 The Government can colect funds from Taxes Fees Prices of public goods All the three
3 Governmet finance is called. National finance Public finance Private finance a and b above
4 Govt. taxatio and spending policieis are called. Fiscal policy Monetary policy Commercial policy Finance policy
5 Which of the followign tax is best example of ability to pay principle of taxes excise tax on cigratettes Highway tolltax Personal income tax Proportional sales tax
6 In Pakistan, taxes are leived by Prime Minister of Pakistan President of Pakistan Federal cabinet of ministers National Assembly
7 Progressive taxes Incereasegovernemnt revenue Bring equality in distributio nof incomes Act as panality for rich people a and b of above
8 The most important source of income of a goernemnt is. Foreign loans Taxes Printing of new money Sale of governemnt property
9 It is direct tax Excise tax Sales tax Income tax Custom duty
10 Oneof he following is NOT a feature of private finance. Balancing of incoem and expenditure Secrecy Publicity Saving some part of income
11 Govt. prepares its budget Weekly Montly Quarterly Annually
12 Taxes on commodities are Direct taxes Indirect Taxes Progressive taxes Propotional taxes
13 Whom of the followng propounded principles of taxation Keynes Adam Smith Marshall Ghazali
14 Which is a monetary measure to increase employment. Increase in govt expenditure Reduce govt expenditure Increase in interest rate Reducing intrest rate
15 It is NOT an instrument of moneatry policy Discount Rate Open market operation Change in reserve ratio Issue notes
16 Every country establishes centralbank to Issue notes Supervise commerical bank Giveloans to businessmen a and b of above
17 State Bank policy of regulating intrst rate is called. Monetary policy Commerical policy Banking policy Fiscal policy
18 The money called legal tender includes. Currency notes and credit cards Currency notes and bank deposits Currency notes and coins Currency notes and cheques
19 Treasury bill is used for Getting short term loans by central bank Getting long term loans Collecting govt. taxes Make payments of utility bills
20 Every country establishes central bank to Issue currency To establish commercial bank Toprepare governemnt budget All of the of above
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