11th Principles of Economics MCQS
A good thing in public finance
Income is equal to expenditure
Expenditures are more than income
Income is more than expenditure
b and c both
If the person has to pay the tax on whom it is levied, then it is called
Proportional tax
Progressive tax
Direct tax
Indirect tax
If the rate of tax does not change with decrease or increase in the level of income, is called
Proportional tax
value added tax
Regressive tax
Progressive tax
If income of government is less than its expenditures, then it is a
Deficit budget
Balanced budget
Surplus budget
Development budget
Because of indirect taxes, prices
Remain constant
Do not change
Decrease
Increase
Surplus budget for the government is considered
Useful & harmful
Harmful
Useful
None of three
Zakat can not be given
For the construction of Mosque
To the collection of zakat
The converts
to get slaves free
Total number of canons of taxation stated by different economists is
Twelve
Seven
Nine
Eleven
What type of nature of Zakat is
Changes along with the change in income
Non fixed
Elastic
Fixed
The percentage part of the agricultural produce is payable as Zakat which is irrigated by natural water
15%
5%
10%
20%
11th Principles of Economics MCQS
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