Quiz of Fiscal Policy of Pakistan

Atif Aziz

4 years ago

Quiz of Fiscal Policy of Pakistan are ready for those students who have gone through MCQs of Fiscal Policy of Pakistan. All these important mcqs of fiscal policy are available for Inspector Inland Revenue candidates. You can practice first its mcqs, then you should try these quiz. We assure you that you can qualify test if you try thrice.
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Quiz of Fiscal Policy of Pakistan

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Question 1

Income tax, wealth tax corporate tax are the examples of _________?

A	Direct tax
B	Indirect tax
C	Both a and b
D	NOT

Question 2

Why taxes are levied?

A	To collect funds
B	To provide benefit to the people
C	Both a and b
D	NOT

Question 3

Sales tax is the example of ____________?

A	Proportional tax
B	Indirect tax
C	Progressive tax
D	Both a and b

Question 4

__________ is the tax which is levied on the income or profit of that person who pays himself?

A	Indirect tax
B	Direct tax
C	Both a and b
D	NOT

Question 5

The government implement ________ policy to slow down economic growth in case of high inflation.

A	Contractionary FP
B	Expansionary FB
C	Neutral FP
D	AOT

Question 6

Fiscal deficit tells about the _________ between revenue and expenditure?

A	Gap
B	Statement
C	Both a and b
D	NOT

Question 7

Under Fiscal Policy concepts, FY stands for________?

A	Fiscal Year
B	Financial Year
C	Foreign Yield
D	NOT

Question 8

________ is the tax which is increased with the increase in income?

A	Regressive tax
B	Progressive tax
C	Proportional tax
D	NOT

Question 9

___________ Policy is undertaken when an economy is in equilibrium?

A	Expansionary FP
B	Neutral FP
C	Contractionary FP
D	NOT

Question 10

_______ Tax is also known as Flat tax

A	Progressive tax
B	Value added tax
C	Proportional tax
D	Both a and c

Question 11

Current GDP of Pakistan is _________?

A	47709
B	44708
C	42789
D	40447

Question 12

__________ Tax is also called as Marginal tax?

A	Regressive tax
B	Proportional tax
C	Progressive tax
D	Both a and b

Question 13

In which FP type government raises taxes and reduces government spending?

A	Neutral FP
B	Contractionary FP
C	Expansionary FB
D	NOT

Question 14

_________ explains fiscal policy statement?

A	Total public debt and per capita debt
B	Total expenditure, total fiscal deficit,
C	Total net revenue
D	Fiscal deficit other than foreign grans
E	AOT

Question 15

___________ the objective of fiscal policy?

A	Economic and price stability
B	Full employment and allocation of optimum resources
C	Encourage investment and growth
D	AOT

Question 16

Taxes and Expenditure are the main element of the ___________?

A	Revenue Policy
B	Fiscal Policy
C	Economic Survey Policy
D	NOT

Question 17

When government spends more money and collects less taxes?

A	Follows Expansionary FP
B	Follows Neutral FP
C	Follows Contractionary FP
D	AOT

Question 18

Who monitors/supervises fiscal policy?

A	Government
B	Financial Institution
C	Prime Minister
D	NOT

Question 19

What is the total revenue target of FBR for this fiscal year?

A	5.2 Trillion
B	5.6 Trillion
C	5.8 Trillion
D	6 Trillion

Question 20

________ are the principles of taxation?

A	Certainty
B	Equality
C	Secrecy
D	Both a and b

Question 21

Fiscal policy of Pakistan deals with _____________?

A	Taxes
B	Expenditure
C	Both a and b
D	NOT

Question 22

What was the FBR revenue target in 2020 to 2021?

A	4.4 Trillion
B	5.6 Trillion
C	4.7 Trillion
D	4.9 Trillion

Question 23

Which of the following can measure fiscal deficit in percentage?

A	Country’s reserves
B	Import and export
C	Gross domestic product
D	NOT

Question 24

______ tax is levied with the same percentage for all people?

A	Progressive tax
B	Regressive tax
C	Proportional tax
D	NOT

Question 25

Under which type of FP government can pay debts?

A	Expansionary FP
B	Neutral FP
C	Contractionary FP
D	NOT

Question 26

The main source of income of the government is _______?

A	Public debt
B	Foreign debt
C	Printing new currency
D	Taxes

Question 27

Which of the following is/are the tools of Fiscal Policy?

A	Taxation
B	Government spending
C	Both a and b
D	NOT

Question 28

Which type of fiscal policy is implemented during recession?

A	Neutral FP
B	Contractionary FP
C	Expansionary FP
D	AOT

Question 29

______ the type of tax which is levied on commodities?

A	Direct tax
B	Indirect
C	Progressive tax
D	NOT

Question 30

__________ Fiscal policy is implemented for the sake to boosts the economy?

A	Expansionary fiscal policy
B	Contractionary fiscal policy
C	Neutral fiscal policy
D	NOT

Question 31

What is the sales tax rate implemented for the locally manufactured cars?

A	17%
B	15%
C	12.5%
D	19%

Question 32

There are ____ main theories of taxation?

A	2
B	3
C	4
D	NOT

Question 33

How much present of Annual Budget we need to pay interest for debt we have taken?

A	30%
B	41%
C	39%
D	AOT

Question 34

Which of the following type of FP the government spending is fully funded by tax revenue?

A	Expansionary FP
B	Contractionary FP
C	Neutral FP
D	NOT

Question 35

There are ______ types of Fiscal Policy?

A	1
B	2
C	3
D	NOT

Question 36

Pakistan has _________ GDP Growth rate?

A	5%
B	2.2%
C	3.9
D	2.9

Question 37

Pakistan need to pay _________ billion interest for the debt it has taken?

A	3059
B	7523
C	3708
D	NOT

Question 38

Name the types of fiscal policy_____________?

A	Neutral Policy
B	Expansionary Policy
C	Contractionary Policy
D	AOT

Question 39

What is the meaning of deficit financing?

A	Borrowing loan from public
B	Borrowing loan from foreign
C	Printing new currency
D	NOT

Question 40

________ tax brings equality in distribution of incomes and enhances government revenue?

A	Progressive tax
B	Regressive tax
C	Both a and b
D	NOT

Question 41

Total debt on Pakistan is _______________?

A	37078.5 Billion
B	47078 Billion
C	49707 Billion
D	NOT

Question 42

_______ the kind of tax where the incidence and impact of taxation does not fall on the same person or entity?

A	Indirect tax
B	Direct tax
C	Income Tax
D	NOT

Question 43

When government launches its budget?

A	Quarterly
B	Biannually
C	Annually
D	NOT

Question 44

____ type of tax which is levied with larger percentage on the low income people?

A	Progressive
B	Regressive
C	Proportional
D	AOT

Question 45

What is the expected growth of GDP of Pakistan?

A	4.2%
B	3.8%
C	4.8%
D	NOT

Question 46

Distribution of resources among provinces are done through?

A	National community fare
B	National finance commission
C	National final consumption
D	AOT

Question 47

If the government lowers the taxes and enhance spending, then it is following __________ fiscal policy?

A	Contractionary FP
B	Expansionary FP
C	Neutral FP
D	NOT

Question 48

Sales tax, custom duty, and excise duty are ________ kind of taxes?

A	Direct
B	Indirect
C	Both a and b
D	NOT

Question 49

Who levies taxes in Pakistan?

A	Board
B	Finance Minister
C	National Assembly
D	President

Question 50

IMF has given _____ revenue target for this year?

A	4.8 Trillion
B	5.6 Trillion
C	6 Trillion
D	NOT

Question 51

Motor token tax is ________?

A	Federal
B	Provincial
C	Both a and b
D	NOT

Question 52

Before _________ fiscal policy is brought?

A	Provincial Assembly
B	Board
C	National Assembly
D	President

Question 53

Which of the following is/are the types of tax?

A	Direct tax
B	Indirect tax
C	Proportional tax
D	Progressive tax
E	Regressive tax
F	Value Added Tax
G	AOT

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