Question # 1

Which one of the following stated the canons of taxation first

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Adam Smith

Marshall

Robbins

Keynes

Wealth tax, income tax, property tax etc are

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Direct taxes

Indirect taxes

Proportional taxes

Progressive taxes

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

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Multiplier

Accelrator

MEC

Both a and b

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

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

Zakat means

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Growth

Purification

Tax

Both 1st and 2nd

Over investment and over saving theory was given by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

The main source of the public revenue is

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Fee

Tax

Fines

Gifts and aid

What type of nature of Zakat is

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Fixed

Non fixed

Elastic

Changes along with the change in income

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 interaction of multiplier and accelerator is known as:

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Innovation theory

Modern theory

Psychological theory

Over investment theory

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

Payment of zakat is compulsory for ----------- living in Islamic Country

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Every person

Every Muslim

Only Poor Muslim

Only Sahib-e-Nisab Muslim

Modern theory trade cycle was presented by:

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Hawtrey

Habson Foster

Jevons

J.R Hicks

Total number of canons of taxation stated by different economists is

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Seven

Nine

Eleven

Twelve

Which one of the following public expenditures is related to transport

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Police

Defence

Railway

Public education

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

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