Economic | MCQs

Explanation

زکوٰۃ کا مقصد  دولت کو چند ہاتھوں میں جمع ہوجانے سے روکنا ہے۔ 

زکوٰۃ  اسلام کا ایک اہم ارکان ہے جو دو ہجری کو فرض ہوا تھا۔

AGM 08-01-2023

Explanation

Explanation

GDP stands for "Gross Domestic Product"

Represents the total monetary value of all final goods and services produced

within a country during a period of time.

GDP is the most commonly used measure of economic activity.

Explanation

 Reduce the deficit on the balance of trade

The government may raise tariffs on imported goods or introduce quotas. Both  measures will lead to a reduction in imports and thus an improvement in the current account balance.

Explanation

Durability

Banknotes and "fiat money" also have no intrinsic value. Their value is determined only by supply and demand and becomes legal tender by government legislation. The most important factor that distinguishes the currency of one country from the currency of another is its value.

Explanation

More regressive taxes

Factors that contribute to income inequality are closely linked to economic, social and political causes. People have different wages for each job, leading to income inequality. People of different levels of education often earn different wages, but their social situation can be different as they grow up.

Explanation

Altogether, there were eight five-year plans (starting 1950 till 1999)

That was replaced with a more effective program, the Medium Term Development Framework (MTDF)

Under Prime Minister Shaukat Aziz (office: 2004–2007)

The first five-year plans were approved by Prime Minister Ali Khan in 1950 for the period of 1950–55.

List of Five-Year Plans of Pakistan:

1.      First Five-Year Plans (1955–1960)

2.      Second Five-Year Plans (1960–1965)

3.      Third Five-Year Plans (1965–1970)

4.      Fourth Five-Year Plans (1970–1975)

5.      Fifth Five-Year Plans (1978–1983)

6.      Sixth Five-Year Plan (1983–88)

7.      Seventh Five-Year Plan (1988–93)

8.      Eighth Five-Year Plan (1993–98)

Explanation

The green revolution in Pakistan began in the 1960s,

It was based on the introduction of the US helping Pakistan with economic Aid for Pakistan

Explanation

The government on 07-03-2022, at a meeting of the Economic Coordination Committee (ECC) of the Cabinet approved Rs8.28bn subsidy for 19 kitchen items for Ramazan Relief Package and Rs3bn for intending overseas Pakistanis to benefit from the flagship Kamyab Pakistan Programme.

Explanation

On 22 April 2024, Pakistan and Iran decided to strengthen economic and security cooperation by setting a $10 billion bilateral trade target and jointly fighting the menace of terrorism.

The decision was made during visit of Iranian president to Pakistan.