Question # 1

Surplus budget for the government is considered

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Useful

Harmful

Useful & harmful

None of three

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

Which one of the following is direct tax

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Sales tax

Import duty

Export duty

Income tax

Branches of public finance are

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Two

Three

Four

Five

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

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

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Proportional tax

Progressive tax

Direct tax

Indirect tax

The revenue collection of government and spending policy is called

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Monetary policy

Fiscal policy

commercial policy

Labour policy

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

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Depression

Recovery

Recession

Boom

"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

In which year international monetary fund was established:

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1941

1944

1945

1947

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

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10%

15%

20%

25%

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

Meteorological theory of trade cycle was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

Wealth tax, income tax, property tax etc are

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Direct taxes

Indirect taxes

Proportional taxes

Progressive taxes

What type of nature of Zakat is

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Fixed

Non fixed

Elastic

Changes along with the change in income

Phases of trade cycle are:

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Three

Four

Five

Six

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

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