Question # 1

Number of beneficiaries of Zakat is stated in the holy Quran

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Five

Seven

Eight

Nine

The interaction of multiplier and accelerator is known as:

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Innovation theory

Modern theory

Psychological theory

Over investment theory

To the name of which economist, canons of taxation are attributed

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Adam smith

Robbins

Pigou

Keynes

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

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Multiplier

Accelerator

MEC

Both a and b

Which one of the following public expenditures is related to transport

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Police

Defence

Railway

Public education

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

Usher is levied on

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Cash amount

Goats and sheep

Trading goods

Agricultural production

Income and employment are at peak level during:

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Recovery

Boom

Depression

Recession

In which phase of Frade cycle level of employment and income becomes very low.

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Depression

Recovery

Recession

Boom

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

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Income tax

Property tax

Gift tax

Sales tax

"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

The average duration of trade cycle is:

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Five years

Fifty years

Twenty years

Ten years

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

If income of government is more than its expenditures, then it is a

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Surplus budget

Deficit budget

Development budget

Balanced budget

Because of indirect taxes, prices

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Decrease

Remain constant

Increase

Do not change

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

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