Question # 1

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 salient features of trade cycle are:

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National in nature

International in nature

Domestic in nature

All of these

Which one of the following is direct tax

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Sales tax

Import duty

Export duty

Income tax

The interaction of multiplier and accelerator is known as:

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Innovation theory

Modern theory

Psychological theory

Over investment theory

Which one of the following public expenditures is related to transport

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Police

Defence

Railway

Public education

Adam Smith presented the basic canons of taxation

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Two

Three

Four

Five

Over investment and over saving theory was given by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

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

Meteorological theory of trade cycle was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

Zakat is part of the present income

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20th

30th

40th

50th

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

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Surplus budget

Deficit budget

Balanced budget

Capital budget

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%

Because of indirect taxes, prices

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Decrease

Remain constant

Increase

Do not change

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

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10%

15%

20%

25%

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

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Proportional tax

Progressive tax

Direct tax

Indirect tax

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

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Adam smith

Robbins

Pigou

Keynes

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

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