Question # 1

Zakat can not be given

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to get slaves free

To the collection of zakat

For the construction of Mosque

The converts

If income of government is less 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

One of the following is not included in the sources of public revenue

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Tax

Fee

Defence

Fines

The ratio of change in investment to change in income is known as:

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Multiplier

Accelerator

MEC

Both a and b

Theory of innovations was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

J.R Hicks

Indirect taxes become cause of

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Increase in prices

Decrease in prices

Stability of prices

Change in prices

Public finance and private finance are of each other

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Opposite

Synonymous

Similar & different

None of three

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

Total number of canons of taxation stated by different economists is

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Seven

Nine

Eleven

Twelve

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

"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

During boom, a government prepares budget which is

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Balanced

Surplus

Deficit

Unbalanced

If every person pays tax according to his capacity, it is called

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Canon of certainly

Canon of equality

Canon of productivity

Canon of convenience

"The study of nature and principles of government expenditures and revenue is called public finance"
This definition is stated by

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Bastable

Armitage Smith

Ricardo

Robbins

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

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