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Quiz of Fiscal Policy of Pakistan

Atif Aziz
Quiz of Fiscal Policy of Pakistan

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
_______ 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 2
There are ____ main theories of taxation?
A
2
B
3
C
4
D
NOT
Question 3
Fiscal policy of Pakistan deals with _____________?
A
Taxes
B
Expenditure
C
Both a and b
D
NOT
Question 4
________ is the tax which is increased with the increase in income?
A
Regressive tax
B
Progressive tax
C
Proportional tax
D
NOT
Question 5
When government launches its budget?
A
Quarterly
B
Biannually
C
Annually
D
NOT
Question 6
__________ 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 7
In which FP type government raises taxes and reduces government spending?
A
Neutral FP
B
Contractionary FP
C
Expansionary FB
D
NOT
Question 8
______ tax is levied with the same percentage for all people?
A
Progressive tax
B
Regressive tax
C
Proportional tax
D
NOT
Question 9
Why taxes are levied?
A
To collect funds
B
To provide benefit to the people
C
Both a and b
D
NOT
Question 10
______ the type of tax which is levied on commodities?
A
Direct tax
B
Indirect
C
Progressive tax
D
NOT
Question 11
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 12
Under Fiscal Policy concepts, FY stands for________?
A
Fiscal Year
B
Financial Year
C
Foreign Yield
D
NOT
Question 13
There are ______ types of Fiscal Policy?
A
1
B
2
C
3
D
NOT
Question 14
_______ Tax is also known as Flat tax
A
Progressive tax
B
Value added tax
C
Proportional tax
D
Both a and c
Question 15
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
Question 16
___________ 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 17
What is the meaning of deficit financing?
A
Borrowing loan from public
B
Borrowing loan from foreign
C
Printing new currency
D
NOT
Question 18
Motor token tax is ________?
A
Federal
B
Provincial
C
Both a and b
D
NOT
Question 19
Total debt on Pakistan is _______________?
A
37078.5 Billion
B
47078 Billion
C
49707 Billion
D
NOT
Question 20
________ 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 21
Current GDP of Pakistan is _________?
A
47709
B
44708
C
42789
D
40447
Question 22
____ type of tax which is levied with larger percentage on the low income people?
A
Progressive
B
Regressive
C
Proportional
D
AOT
Question 23
Distribution of resources among provinces are done through?
A
National community fare
B
National finance commission
C
National final consumption
D
AOT
Question 24
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 25
Under which type of FP government can pay debts?
A
Expansionary FP
B
Neutral FP
C
Contractionary FP
D
NOT
Question 26
Sales tax, custom duty, and excise duty are ________ kind of taxes?
A
Direct
B
Indirect
C
Both a and b
D
NOT
Question 27
Which type of fiscal policy is implemented during recession?
A
Neutral FP
B
Contractionary FP
C
Expansionary FP
D
AOT
Question 28
_________ 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 29
Who levies taxes in Pakistan?
A
Board
B
Finance Minister
C
National Assembly
D
President
Question 30
__________ Tax is also called as Marginal tax?
A
Regressive tax
B
Proportional tax
C
Progressive tax
D
Both a and b
Question 31
Sales tax is the example of ____________?
A
Proportional tax
B
Indirect tax
C
Progressive tax
D
Both a and b
Question 32
Which of the following is/are the tools of Fiscal Policy?
A
Taxation
B
Government spending
C
Both a and b
D
NOT
Question 33
Income tax, wealth tax corporate tax are the examples of _________?
A
Direct tax
B
Indirect tax
C
Both a and b
D
NOT
Question 34
__________ 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 35
Who monitors/supervises fiscal policy?
A
Government
B
Financial Institution
C
Prime Minister
D
NOT
Question 36
IMF has given _____ revenue target for this year?
A
4.8 Trillion
B
5.6 Trillion
C
6 Trillion
D
NOT
Question 37
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 38
Before _________ fiscal policy is brought?
A
Provincial Assembly
B
Board
C
National Assembly
D
President
Question 39
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 40
Pakistan has _________ GDP Growth rate?
A
5%
B
2.2%
C
3.9
D
2.9
Question 41
___________ Policy is undertaken when an economy is in equilibrium?
A
Expansionary FP
B
Neutral FP
C
Contractionary FP
D
NOT
Question 42
Taxes and Expenditure are the main element of the ___________?
A
Revenue Policy
B
Fiscal Policy
C
Economic Survey Policy
D
NOT
Question 43
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 44
What is the sales tax rate implemented for the locally manufactured cars?
A
17%
B
15%
C
12.5%
D
19%
Question 45
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 46
Name the types of fiscal policy_____________?
A
Neutral Policy
B
Expansionary Policy
C
Contractionary Policy
D
AOT
Question 47
When government spends more money and collects less taxes?
A
Follows Expansionary FP
B
Follows Neutral FP
C
Follows Contractionary FP
D
AOT
Question 48
The main source of income of the government is _______?
A
Public debt
B
Foreign debt
C
Printing new currency
D
Taxes
Question 49
Pakistan need to pay _________ billion interest for the debt it has taken?
A
3059
B
7523
C
3708
D
NOT
Question 50
What is the expected growth of GDP of Pakistan?
A
4.2%
B
3.8%
C
4.8%
D
NOT
Question 51
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 52
________ are the principles of taxation?
A
Certainty
B
Equality
C
Secrecy
D
Both a and b
Question 53
Fiscal deficit tells about the _________ between revenue and expenditure?
A
Gap
B
Statement
C
Both a and b
D
NOT
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