| 1 |
If the income of the government is less than its expenditures, such budget is called |
- A. Surplus budget
- B. Deficit budget
- C. Balanced budget
- D. Capital budget
|
| 2 |
Adam Smith presented the basic canons of taxation |
- A. Two
- B. Three
- C. Four
- D. Five
|
| 3 |
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 |
- A. Direct tax
- B. Indirect tax
- C. Proportional tax
- D. Progressive tax
|
| 4 |
The main source of the public revenue is |
- A. Fee
- B. Tax
- C. Fines
- D. Gifts and aid
|
| 5 |
To the name of which economist, canons of taxation are attributed |
- A. Adam smith
- B. Robbins
- C. Pigou
- D. Keynes
|
| 6 |
The percentage part of the agricultural produce is payable as Zakat which is irrigated by natural water |
- A. 5%
- B. 10%
- C. 15%
- D. 20%
|
| 7 |
"Public finance is that branch of economics which studies the revenue and expenditures of governments institutions, their inter-relationship and financial administration"<br>This definition is stated by |
- A. Bastable
- B. Armitage Smith
- C. Marshall
- D. Pigou
|
| 8 |
Over investment and over saving theory was given by: |
- A. Joseph Schumpeter
- B. Habson Foster
- C. Jevons
- D. Hawtray
|
| 9 |
If the rate of tax increase with the increase of level of income, is called |
- A. Progressive tax
- B. Proportional tax
- C. Regressive tax
- D. Value added tax
|
| 10 |
The expected rate of profit from a business is known as: |
- A. Multiplier
- B. Accelerator
- C. Marginal efficiency of capital
- D. Both a and b
|
