Question # 1

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

The salient features of trade cycle are:

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National in nature

International in nature

Domestic in nature

All of these

Theory of innovations was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

J.R Hicks

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

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Surplus budget

Deficit budget

Balanced budget

Capital budget

"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

Surplus budget for the government is considered

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Useful

Harmful

Useful & harmful

None of three

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

During depression, a government prepares budget which is

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Balanced

Surplus

Deficit

Unbalanced

The main source of the public revenue is

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Fee

Tax

Fines

Gifts and aid

Trade cycles can be controlled by:

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Fiscal policy

Monetary policy

Buffer stock schemes

All of these

Government estimates its income and expenditures

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Monthly

Three monthly

Six monthly

Annual

If the rate of tax does not change with decrease or increase in the level of income, is called

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Proportional tax

Progressive tax

Regressive tax

value added tax

Which one of the following stated the canons of taxation first

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Adam Smith

Marshall

Robbins

Keynes

Zakat means

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Growth

Purification

Tax

Both 1st and 2nd

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

Indirect taxes become cause of

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Increase in prices

Decrease in prices

Stability of prices

Change in prices

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

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