12th Class Economics MCQS
Measurement of economic development is based on
Monetary income
Permanent income
Real income
Future income
Pakistans per capita income at constant prices in rupees is
Rs. 92000
Rs. 32,000
Rs. 9000
Rs. 62000
Rich countries have deficit in their balance of payments.
alternate years
always
never
Sometimes
Exemption limit for income tax in Pakistan is (FY2016)
4 Lakh
12 lakh
8 Lakh
2 Lakh
The quantity of money increases 100% other things remaining constant value of money changes by
Does not change
Decreases by 100%
Decreases by 200%
Increases by 100%
If no money is used to exchange goods it is called
Barter
Currency
Black market
Free trade
Nationalisation of banks was done in
1978
1976
1980
1974
Profit and loss- sharing is and element of this system
Islamic
None
Socialistic
Capitalistic
Federal government tax revenue collection includes.
Divisible taxes with provinces
Divisible taxes with district govts.
Non-tax revenue
All of the above
A direct tax is that which
Can not be evaded
Is heavy burden on the tax payers
Can be directly deposited in the banks
Is paid by the person on whom it is levied
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