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Online Tests
Principles of Economics Icom Part 2 English Medium Online Test MCQs With Answers
Question # 1
State Bank was established in
Choose an answer
1948
1950
1952
1954
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Question # 2
Profit and losss sharing is basis of finance under this system.
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Islamic
Capitalistic
Socialistic
None
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Question # 3
Convert money means.
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It can buy goods
Govt. give gold against
Illegal money
Low value money
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Question # 4
Pakistan Importss some goods and exports other goods primarily because of.
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Free goods
Comparative advantage
Unemployment
Self Sufficiency
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Question # 5
Which of the followign tax is best example of ability to pay principle of taxes
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excise tax on cigratettes
Highway tolltax
Personal income tax
Proportional sales tax
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Question # 6
Out of the following the only reconised legal lender is.
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Bank notes
Cheque
Draft
Credite card
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Question # 7
Contribution of industrial sector in Pakistan's GDP is.
Choose an answer
20%
30%
40%
50%
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Question # 8
InPakistan government budget is prepared by
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National Assembly
Presidnet of Pakistan
Ministry of Finance
State Bank of Pakistan
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Question # 9
It is transfer payment
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Payment o college tuition
A social securiy payment
Payment for a leased car
Intrest paid for a bank loan
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Question # 10
Circular flow of income links
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Income expenditure
Govt taxes govt expenditure
Exports ,imports
Saving and investment
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Question # 11
Net Exports are
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Total Exports plus total imports
Total exports minus total imports
Total exports divided by total imports
Total imports minus total exports
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Question # 12
This is a difficulty of barter
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Lack of double coincidence of wants
Diffculty to produce goods at larger scale
Lack of divisiblility of many goods
All of the above
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Question # 13
All are advantages of oreign trade Except.
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People get foreign exchange
Difference in politicla system
Difference in markets
Difference in ideology
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Question # 14
Ten Rupee note is
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Token money
Creadit money
Legal Money
a and c of above
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Question # 15
It is avoided to make correct estimate of national income.
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Free services
Double counting
Export earnings
All of the above
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Question # 16
Visible imports include.
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Remittance
Machinery
Computer Software
Transport cost
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Question # 17
In Pakistan Income tax is
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Progressive tax
Regressive tax
Proportional tax
Fixed tax
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Question # 18
The most importnat fature of money
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General acceptability
Store of value
Covertibility into gold
Medium of exchange
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Question # 19
Investment spending included the purchase of.
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Lottery coupon
Prize Bond
Residential construction
all of the above
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Question # 20
Balance of payment of a country has major parts.
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2
3
4
5
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Question # 21
Credit money is created by
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Central bank
Commercial Bank
Government
All of the above
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