Question # 1

On which amount Zakat is payable

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Twenty thousand rupees

On the amount equal to the value of 7.5 tola gold or 52.5 tola silver

On fifty thousand rupees

On one lac rupees

The revenue collection of government and spending policy is called

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Monetary policy

Fiscal policy

commercial policy

Labour policy

"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

Because of indirect taxes, prices

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Decrease

Remain constant

Increase

Do not change

Number of beneficiaries of Zakat is stated in the holy Quran

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Five

Seven

Eight

Nine

Phases of trade cycle are:

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Three

Four

Five

Six

The percentage part of the agricultural produce is payable as Zakat which is irrigated by natural water

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5%

10%

15%

20%

Zakat means

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Growth

Purification

Tax

Both 1st and 2nd

The interaction of multiplier and accelerator is known as:

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Innovation theory

Modern theory

Psychological theory

Over investment theory

Monetary theory of trade cycle was given by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

Government estimates its income and expenditures

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Monthly

Three monthly

Six monthly

Annual

What type of nature of Zakat is

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Fixed

Non fixed

Elastic

Changes along with the change in income

If the income and expenditures of the government are equal, such budget is called

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Surplus budget

Deficit budget

Balanced budget

Capital budget

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

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Multiplier

Accelerator

MEC

Both a and b

Private individuals are not allowed to fullfil their needs

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To get loans from the friends

To get financial help from the relatives

To get loans from the domestic financial institutions

To print notes

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

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