McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: General Knowledge (GK) , Union Public Service Commission (UPSC) .
| 851. |
Which of the following is not true? |
| A. | Tariffs can help new industries to become established |
| B. | Tariffs may divert demand to home industry and so encourage employment |
| C. | Tariffs encourage home industries to become more efficient |
| D. | All of the above |
| Answer» A. Tariffs can help new industries to become established | |
| 852. |
Which of the following is false statement? |
| A. | There is no difference between balance of payment and balance of trade |
| B. | Balance of trade is also known as balance of visible trade |
| C. | Balance of repayment consists of three accounts namely current account, capital account and monetary account |
| D. | All of the above |
| Answer» A. There is no difference between balance of payment and balance of trade | |
| 853. |
A country's visible balance is the difference between the: |
| A. | Volume of goods imported and exported |
| B. | Value of capital goods exported and imported |
| C. | Volume of consumer goods imported and exported |
| D. | Value of goods imported and exported |
| Answer» D. Value of goods imported and exported | |
| 854. |
Which of the following items are not exports of Pakistan? |
| A. | Wheat |
| B. | Sports goods |
| C. | Both of the above |
| D. | None of the above |
| Answer» C. Both of the above | |
| 855. |
Which of the following is not Pakistan's major imports? |
| A. | Petroleum |
| B. | Machinery |
| C. | Surgical goods |
| D. | Tea |
| Answer» C. Surgical goods | |
| 856. |
Which of the following statement is not false? |
| A. | Pakistan's balance of payments is mostly favourable |
| B. | Terms of trade of Pakistan are favourable |
| C. | Devaluation makes the exports to increase |
| D. | Pakistan imports cotton and exports wheat |
| Answer» C. Devaluation makes the exports to increase | |
| 857. |
Which of the following statement is false? |
| A. | Public finance and private finance differ from each other in many respects |
| B. | In private finance, expenditure is first estimated and then resources are made available to meet this expenditure |
| C. | Budget period for the public finance is one year |
| D. | Resources in both public and private finance are limited in relation to demand for expenditure |
| Answer» B. In private finance, expenditure is first estimated and then resources are made available to meet this expenditure | |
| 858. |
Which of the following is not correct? |
| A. | Tax is a general purpose compulsory contribution |
| B. | Tax payment is optional |
| C. | A tax payment cannot claim a direct service in lien of tax |
| D. | None of the above |
| Answer» B. Tax payment is optional | |
| 859. |
Taxes which may be shifted from the person upon whom they are originally imposed to another person are: |
| A. | Special taxes |
| B. | Double taxes |
| C. | Proportional taxes |
| D. | Indirect taxes |
| Answer» D. Indirect taxes | |
| 860. |
"Sales Tax" is ultimately paid by: |
| A. | The shopkeepers |
| B. | The producers |
| C. | The customers |
| D. | The wholesalers |
| Answer» C. The customers | |
| 861. |
An example of indirect tax is: |
| A. | Corporation tax |
| B. | Income tax |
| C. | Rates |
| D. | Tobacco tax |
| Answer» D. Tobacco tax | |
| 862. |
Which of the following is true statement? |
| A. | Income tax is a progressive tax |
| B. | Excise duty is an indirect tax |
| C. | Wealth tax is a direct tax |
| D. | All of the above |
| Answer» D. All of the above | |
| 863. |
A budget is best described as: |
| A. | A list of expenditure made during the previous year |
| B. | An estimate of expected income and a plan for expenditure |
| C. | A means of raising money for necessary expenditure |
| D. | A plan for purchasing the best quality goods at the lowest prices |
| Answer» B. An estimate of expected income and a plan for expenditure | |
| 864. |
A budget of deficit is one: |
| A. | Where public spending is less than the amount of revenue |
| B. | Where public spending is greater than the amount of revenue |
| C. | Where public spending is equal to the amount of revenue |
| D. | Where the budget leaves most tax payers with less disposable income |
| Answer» B. Where public spending is greater than the amount of revenue | |
| 865. |
Which of the following measures would the government take to finance its borrowing requirements? |
| A. | Sell government securities |
| B. | Sell bills of exchange |
| C. | Sell ordinary shares |
| D. | Buy treasury bills |
| Answer» A. Sell government securities | |
| 866. |
Which of the following is false statement? |
| A. | Federal government receives land revenue |
| B. | Motor vehicles tax is received by Federal Government |
| C. | Court fees are received by Federal Government |
| D. | All of the above |
| Answer» D. All of the above | |
| 867. |
In a fully planned economy, who decided what would be produced: |
| A. | Private entrepreneurs only |
| B. | Government only |
| C. | Consumers only |
| D. | The government in public enterprise and private entrepreneurs in private enterprises |
| Answer» B. Government only | |
| 868. |
Which of the following is/are characteristics of mixed economics? |
| A. | Subsidies for some industries |
| B. | The operation of the market economy in parts of the economy |
| C. | Government control of some industries |
| D. | All the above |
| Answer» D. All the above | |
| 869. |
Which of the following is/are true for a capitalist society? |
| A. | People have the right to own private property |
| B. | There is freedom of enterprise |
| C. | Freedom of choice for the consumers |
| D. | All of the above |
| Answer» D. All of the above | |
| 870. |
Which one of the following arguments can be used in favour of the market economy? |
| A. | It guarantees full employment of labour |
| B. | It leads to equality of wealth |
| C. | It allows the government to plan investment in each industry |
| D. | All of the above |
| Answer» A. It guarantees full employment of labour | |
| 871. |
Pakistan’s largest export market is: |
| A. | USA |
| B. | Germany |
| C. | Japan |
| D. | Saudi Arabia |
| Answer» A. USA | |
| 872. |
Which of the following programmes was financially supported by UNICEF in Pakistan during 1982-1986? |
| A. | To reduce infant mortality |
| B. | To reduce maternal mortality |
| C. | To double the literacy rate among women |
| D. | All of the above |
| Answer» D. All of the above | |
| 873. |
Under a capitalist system, the economic problem of "what goods" shall be produced is solved primarily by: |
| A. | People advertising their wants |
| B. | Direction by the government |
| C. | The pattern of consumer's spending |
| D. | People producing directly to satisfy their own wants |
| Answer» C. The pattern of consumer's spending | |
| 874. |
The World’s most populous city is: |
| A. | Mexico City |
| B. | Beijing |
| C. | New York |
| D. | Tokyo |
| Answer» D. Tokyo | |
| 875. |
Pakistan’s biggest and most powerful ‘Radio Station’ is: |
| A. | Islamabad |
| B. | Lahore |
| C. | Karachi |
| D. | Peshawar |
| Answer» A. Islamabad | |
| 876. |
One advantage for the capitalist system for allocating resources in economy is that it: |
| A. | Avoids unemployment |
| B. | Reduces inequality of incomes |
| C. | Affords the fullest opportunity for individuals to indicate their preferences for goods within the limits of their spending power |
| D. | Always results in goods being produced at the lowest possible cost. |
| Answer» C. Affords the fullest opportunity for individuals to indicate their preferences for goods within the limits of their spending power | |
| 877. |
Which of the following countries could most aptly be described as having a fully centrally planned economy? |
| A. | U.K. |
| B. | U.S.A. |
| C. | Former U.S.S.R. |
| D. | Germany |
| Answer» C. Former U.S.S.R. | |
| 878. |
Which of the following statement is true? |
| A. | Most of the developing countries like Pakistan have planned economies |
| B. | In a market economy, there is most equal distribution of income |
| C. | In a mixed economy, the government interferes with the price system to overcome its disadvantages |
| D. | In a centrally planned economy, society will always get the goods it wants. |
| Answer» C. In a mixed economy, the government interferes with the price system to overcome its disadvantages | |
| 879. |
In Punjab, the lowest density of population is in: |
| A. | Multan Division |
| B. | Rawalpindi Division |
| C. | Bahawalpur Division |
| D. | D.G. Khan Division |
| Answer» C. Bahawalpur Division | |
| 880. |
Which of the following is a cash crop? |
| A. | Wheat |
| B. | Rice |
| C. | Cotton |
| D. | None of the above |
| Answer» C. Cotton | |
| 881. |
Which of the characteristics of Islamic Economic System is/are true? |
| A. | An Islamic state is essentially a welfare state |
| B. | Ensures social justice |
| C. | All economic problems are solved in the light of moral values |
| D. | All of the above |
| Answer» D. All of the above | |
| 882. |
"Zakat" is a charity on: |
| A. | Wealth/income which stays with a Muslim for at least one year |
| B. | Levied on a Muslim who is Sahib-e-Nisab |
| C. | Deducted at the rate of 2 ½ % of the income |
| D. | All of the above |
| Answer» D. All of the above | |
| 883. |
Which of the following is correct? A Sahib-e-Nisab is a person who owns: |
| A. | 7 ½ tolas of gold or 52 ½ tolas of silver |
| B. | Trading goods or cash equal to 7 ½ tolas of gold or 52½ tolas of silver. |
| C. | 5 camels or 30 cows (buffaloes) or 40 sheep (goats) |
| D. | All of the above |
| Answer» D. All of the above | |
| 884. |
In Islam, absolute ownership of property lies only with: |
| A. | Allah |
| B. | Government |
| C. | Owner of the property |
| D. | Both government and owner |
| Answer» A. Allah | |
| 885. |
Which of the following statement is wrong? |
| A. | Islamic economic system allows the use of only "halal" things |
| B. | Islamic laws cannot be changed by majority decision |
| C. | Islamic economic system brings an end to exploitation of labour |
| D. | None of the above |
| Answer» D. None of the above | |
| 886. |
From which of the following countries, Pakistan received the biggest share of workers remittances during the year 2000? |
| A. | UAE |
| B. | Kuwait |
| C. | Saudi Arabia |
| D. | USA |
| Answer» C. Saudi Arabia | |
| 887. |
World Trade Organization (WTO) was established in 1995 with the objective: |
| A. | To promote free trade in the World. |
| B. | To protect intellectual property rights. |
| C. | To remove quota restrictions in foreign trade. |
| D. | All of the above. |
| Answer» D. All of the above. | |
| 888. |
Agricultural income tax in Pakistan will be levied on the farmers with land holdings of or more than: |
| A. | 30 acres |
| B. | 10 acres |
| C. | 6 acres |
| D. | 12 ½ acres |
| Answer» D. 12 ½ acres | |
| 889. |
Which of the following European country has not adopted Europe currency? |
| A. | Great Britain |
| B. | Sweden |
| C. | Denmark |
| D. | All of the above |
| Answer» D. All of the above | |
| 890. |
Under the Constitution of Pakistan, National Finance Commission distribute the amount from federal taxes to provinces on the basis of: |
| A. | Area |
| B. | Population |
| C. | Natural Resources |
| D. | Equality |
| Answer» B. Population | |
| 891. |
According to a UN report, the number of hungry people (starving to death) in the world stands at: |
| A. | 600 million |
| B. | 800 million |
| C. | 700 million |
| D. | 500 million |
| Answer» B. 800 million | |
| 892. |
Kohat Tunnel Project is being completed with the financial aid of: |
| A. | Japan |
| B. | China |
| C. | Turkey |
| D. | USA |
| Answer» A. Japan | |
| 893. |
“Mukran Coastal Highway” project is being completed with the assistance of: |
| A. | Japan |
| B. | Canada |
| C. | China |
| D. | U.K. |
| Answer» C. China | |
| 894. |
Which is the highest economic decision making organ in Pakistan? |
| A. | National Finance Commission |
| B. | Ministry of Economic Affairs |
| C. | National Economic Council |
| D. | None of the above |
| Answer» C. National Economic Council | |
| 895. |
What is “Jingoism”? |
| A. | Political Philosophy of State Control over all means of production |
| B. | Injustice done to the poor segment of society |
| C. | Extreme nationalism and patriotism |
| D. | Promotion of peace in the World |
| Answer» C. Extreme nationalism and patriotism | |
| 896. |
Which of the following “Gemstones” is found in Pakistan? |
| A. | Lapis Lazuli |
| B. | Topaz |
| C. | Ruby |
| D. | All of the above. |
| Answer» D. All of the above. | |
| 897. |
Which of the following mobile phone company is in private sector? |
| A. | Mobilinks |
| B. | Paktel |
| C. | Insta Phone |
| D. | All of the above |
| Answer» D. All of the above | |
| 898. |
President General Pervaiz Musharraf inaugurated the first branch of Micro Finance Bank on August 11, 2000 at:- |
| A. | D.G. Khan |
| B. | Lahore |
| C. | Multan |
| D. | Jhelum |
| Answer» A. D.G. Khan | |
| 899. |
Under the Zakat fund, the amount being given to the deserving people is: |
| A. | Rs. 300 |
| B. | Rs. 500 |
| C. | Rs. 600 |
| D. | Rs. 700 |
| Answer» B. Rs. 500 | |
| 900. |
The government has prepared a programme to increase the textile exports of the country by the name of: |
| A. | Textile vision 2003 |
| B. | Textile promotion 2004 |
| C. | Textile vision 2005 |
| D. | None of the above |
| Answer» C. Textile vision 2005 | |
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