Question # 1

"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

Usher is levied on

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Cash amount

Goats and sheep

Trading goods

Agricultural production

One of the following is not included in the sources of public revenue

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Tax

Fee

Defence

Fines

Phases of trade cycle are:

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Three

Four

Five

Six

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

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5%

10%

15%

20%

Private individuals are not allowed to fullfil their needs

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To get loans from the friends

To get financial help from the relatives

To get loans from the domestic financial institutions

To print notes

In which phase of Frade cycle level of employment and income becomes very low.

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Depression

Recovery

Recession

Boom

Government needs public finance

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For the defence of frontiers

To maintain law and order in the country

For the payment of salaries of government employees

For the welfare of the people

The rate of usher on product of canal land is

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5%

10%

20%

2.5%

The tax whose burden can be shifted to the customers, is called

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Proportional tax

Progressive tax

Direct tax

Indirect tax

During depression, a government prepares budget which is

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Balanced

Surplus

Deficit

Unbalanced

Number of beneficiaries of Zakat is stated in the holy Quran

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Five

Seven

Eight

Nine

Meteorological theory of trade cycle was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

The percentage part of the agricultural produce is payable as Zakat which is irrigated by natural water

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5%

10%

15%

20%

The revenue collection of government and spending policy is called

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Monetary policy

Fiscal policy

commercial policy

Labour policy

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