Question # 1

One of the following is not included in the public expenditures

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Courts

Fee

Public administration

Defence

To the name of which economist, canons of taxation are attributed

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Adam smith

Robbins

Pigou

Keynes

If the income of the government is less than its expenditures, such budget is called

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Surplus budget

Deficit budget

Balanced budget

Capital budget

The salient features of trade cycle are:

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National in nature

International in nature

Domestic in nature

All of these

If the rate of tax increase with the increase of level of income, is called

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Progressive tax

Proportional tax

Regressive tax

Value added tax

"Public finance is that branch of economics which studies the revenue and expenditures of governments institutions, their inter-relationship and financial administration"
This definition is stated by

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Bastable

Armitage Smith

Marshall

Pigou

One of the following is not included in the branches of public finance

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Public revenue

Welfare of the people

Public expenditure

Public debt

The ratio of change in income to change in investment is known as:

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Multiplier

Accelrator

MEC

Both a and b

The percentage part of the agricultural produce is payable as Zakat which is irrigated by artificial sources

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5%

10%

15%

20%

In which year international monetary fund was established:

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1941

1944

1945

1947

If everybody pays tax according to his financial position, it is said

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canon of convenience

canon of Equality

canon of Economy

canon of simplicity

The percentage part of the mineral production is payable as Zakat on private owners of minerals

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5%

10%

15%

20%

Phases of trade cycle are:

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Three

Four

Five

Six

Over investment and over saving theory was given by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

The expected rate of profit from a business is known as:

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Multiplier

Accelerator

Marginal efficiency of capital

Both a and b

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Principles of Economics Icom Part 1 English Medium Chapter 13 Online Test MCQs With Answers

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