Question # 1

Which one of the following is indirect tax

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Income tax

Property tax

Wealth tax

Sales tax

A good thing in public finance

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Expenditures are more than income

Income is more than expenditure

Income is equal to expenditure

b and c both

Meteorological theory of trade cycle was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

Theory of innovations was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

J.R Hicks

Government estimates its income and expenditures

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Monthly

Three monthly

Six monthly

Annual

If the person has to pay the tax on whom it is levied, then it is called

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Direct tax

Indirect tax

Proportional tax

Progressive tax

Branches of public finance are

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Two

Three

Four

Five

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

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Adam smith

Robbins

Pigou

Keynes

If income of government is more than its expenditures, then it is a

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Surplus budget

Deficit budget

Development budget

Balanced budget

Which one of the following public expenditures is related to transport

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Police

Defence

Railway

Public education

Which one of the following is direct tax

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Sales tax

Import duty

Export duty

Income tax

If the income and expenditures of the government are equal, such budget is called

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Surplus budget

Deficit budget

Balanced budget

Capital budget

The tax which is levied on the sale of goods is called

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Income tax

Property tax

Gift tax

Sales tax

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 average duration of trade cycle is:

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Five years

Fifty years

Twenty years

Ten years

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

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