Question # 1

Zakat is part of the present income

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20th

30th

40th

50th

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

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

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5%

10%

15%

20%

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

Total number of canons of taxation stated by different economists is

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Seven

Nine

Eleven

Twelve

Which one of the following public expenditures is related to transport

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Police

Defence

Railway

Public education

The revenue collection of government and spending policy is called

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Monetary policy

Fiscal policy

commercial policy

Labour policy

Theory of innovations was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

J.R Hicks

If the rate of tax does not change with decrease or increase in the level of income, is called

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Proportional tax

Progressive tax

Regressive tax

value added tax

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

The main source of the public revenue is

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Fee

Tax

Fines

Gifts and aid

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

Indirect taxes become cause of

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Increase in prices

Decrease in prices

Stability of prices

Change in prices

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

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Adam smith

Robbins

Pigou

Keynes

Meteorological theory of trade cycle was presented 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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