Question # 1

Indirect taxes become cause of

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Increase in prices

Decrease in prices

Stability of prices

Change in prices

If the person has to pay the tax on whom it is levied, then it is called

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Direct tax

Indirect tax

Proportional tax

Progressive tax

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

A good thing in private finance

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Expenditures are equal to income

Expenditure are more than income

Income is more than expenditures

a and b both

What type of nature of Zakat is

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Fixed

Non fixed

Elastic

Changes along with the change in income

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

Over investment and over saving theory was given by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

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

Meteorological theory of trade cycle was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

The tax which is levied on the sale of goods is called

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Income tax

Property tax

Gift tax

Sales tax

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

"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

Total number of canons of taxation stated by different economists is

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Seven

Nine

Eleven

Twelve

Adam Smith presented the basic canons of taxation

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Two

Three

Four

Five

Public finance and private finance are of each other

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Opposite

Synonymous

Similar & different

None of three

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

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Tax

Fee

Defence

Fines

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

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