Question # 1

During depression, a government prepares budget which is

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Balanced

Surplus

Deficit

Unbalanced

One of the following is not included in the public expenditures

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Courts

Fee

Public administration

Defence

Phases of trade cycle are:

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Three

Four

Five

Six

If a person does not pay the amount of the tax from his own pocked on whom it is levied rather shifts its barden on some other person, then it is called

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Direct tax

Indirect tax

Proportional tax

Progressive tax

Public finance and private finance are of each other

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Opposite

Synonymous

Similar & different

None of three

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

Usher is levied on

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Cash amount

Goats and sheep

Trading goods

Agricultural production

Private owners of minerals are bound to pay --------- Zakat of their production

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10%

15%

20%

25%

Private individuals can get loan from

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Their relatives, friends and domestic financial institutions

Foreign financial agencies

Foreign government

International financial institutions

Payment of zakat is compulsory for ----------- living in Islamic Country

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Every person

Every Muslim

Only Poor Muslim

Only Sahib-e-Nisab Muslim

Which one of the following is direct tax

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Sales tax

Import duty

Export duty

Income tax

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

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Adam smith

Robbins

Pigou

Keynes

Because of indirect taxes, prices

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Decrease

Remain constant

Increase

Do not change

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

Kinds of public expenditures are

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Two

Three

Four

Five

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