Free Economy and Budget MCQs with Answers
509 Economy and Budget MCQs from Pakistan Current Affairs, each with the correct answer and a written explanation of why it is correct. Free and unlimited, with no account needed.
Pakistan’s economy is examined through GDP, inflation, taxation, public debt, foreign exchange, trade, remittances and the balance of payments. The federal budget includes revenue targets, expenditure, development allocations and fiscal policy, while monetary policy, the State Bank, IMF programmes and economic reforms explain wider financial developments.
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509 questions · page 9 of 26
- A. Rs2885 Billion
- B. Rs2,653 Billion
- C. Rs3150 Billion
- D. None of these
Explanation: Punjab’s budget for fiscal year 2021-22 was presented at approximately Rs2,653 billion.
Correct answer: Rs2,653 Billion- A. June 25th, 2021
- B. June 27th, 2021
- C. June 29th, 2021
- D. None of these
Explanation: The National Assembly approved the Finance Bill for 2021-22 on 29 June 2021.
Correct answer: June 29th, 2021- A. December 11, 2013
- B. December 12, 2013
- C. December 13, 2013
- D. December 14, 2013
Explanation: The European Parliament approved GSP Plus benefits for Pakistan on 11 December 2013, with the arrangement taking effect in 2014.
Correct answer: December 11, 2013- A. The General System of Preferences-Plus
- B. The Generalized system of Product-Plus
- C. The General System of Product-Plus
- D. The Generalised system of Preferences - Plus
Explanation: GSP Plus refers to the Generalised System of Preferences Plus, a European Union trade preference scheme for developing countries meeting…
Correct answer: The Generalised system of Preferences - Plus165. Who will present federal budget for the fiscal year 2021-2022 on the floor of the National Assembly?
- A. Hafeez Sheikh
- B. Shaukat Tarin
- C. Hammad Azhar
- D. Asad Umar
Explanation: Shaukat Tarin, who became Federal Minister for Finance in 2021, presented the federal budget for fiscal year 2021-22.
Correct answer: Shaukat Tarin- A. 7.89 trillions
- B. 8.25 trillions
- C. 8.48 trillions
- D. 8.12 trillions
Explanation: Pakistan’s total federal budget outlay for fiscal year 2021-22 was about Rs8.48 trillion.
Correct answer: 8.48 trillions- A. 135th
- B. 152nd
- C. 163rd
- D. None of these
Explanation: Pakistan ranked 152nd in the Heritage Foundation’s 2021 Index of Economic Freedom.
Correct answer: 152nd- A. 20
- B. 25
- C. 31
- D. None of these
Explanation: The APG assessment reported Pakistan as compliant or largely compliant on 31 of the 40 FATF technical recommendations.
Correct answer: 31- A. 3%
- B. 2.4%
- C. 4%
- D. 3.4%
Explanation: The 2017 census recorded Pakistan’s annual population growth rate at 2.4%. The figures of 3% and above are higher than the census estimate.
Correct answer: 2.4%- A. UK
- B. USA
- C. KSA
- D. UAE
Explanation: Saudi Arabia, commonly abbreviated as KSA, gifted 100 tonnes of dates to Pakistan.
Correct answer: KSA- A. 49th
- B. 90th
- C. 78th
- D. None of these
Explanation: Pakistan ranked 90th globally in the Economist Intelligence Unit and Facebook Inclusive Internet Index 2021.
Correct answer: 90th- A. Rs 46,329/-
- B. Rs 57,334/-
- C. Rs 80,933/-
- D. None of these
Explanation: The government fixed the Zakat nisab at Rs 80,933 for the stated year. The lower amounts in the options relate to earlier nisab…
Correct answer: Rs 80,933/-173. Which bank creates history, becomes the first Pakistani bank to open a branch in Beijing, China?
- A. NBP
- B. HBL
- C. Meezan Bank
- D. First Women Bank
Explanation: Habib Bank Limited became the first Pakistani bank to open a branch in Beijing.
Correct answer: HBL- A. Oil and Gas Development Company Limited
- B. Gwadar GasPort Limited (GGPL)
- C. Pakistan Petroleum Limited
- D. Pakistan Oil Fields Limited
Explanation: Gwadar GasPort Limited planned the $94.04 million virtual LNG pipeline project.
Correct answer: Gwadar GasPort Limited (GGPL)- A. Benelux system
- B. Madrid system
- C. Kyoto Protocol
- D. None of these
Explanation: Pakistan joined the Madrid System on 24 February 2021, allowing trademark owners to seek protection in multiple member countries through a…
Correct answer: Madrid system- A. 5 years
- B. 10 years
- C. 15 years
- D. None of these
Explanation: Pakistan and Qatar signed a 10-year LNG supply agreement in 2021, extending Pakistan’s long-term access to Qatari gas.
Correct answer: 10 years- A. Pakistan
- B. India
- C. China
- D. Nepal
Explanation: Pakistan decided to register Himalayan Pink Salt as a geographical indication to protect its origin and commercial identity in…
Correct answer: Pakistan- A. Islamabad-Tehran-Istanbul
- B. Islamabad-Kabul-Tehran
- C. Islamabad-Beijing-Tehran
- D. Islamabad-Tehran-Baku
Explanation: Pakistan Railways planned the Islamabad-Tehran-Istanbul train under the ECO connectivity framework to improve regional trade and transport…
Correct answer: Islamabad-Tehran-Istanbul- A. July 2021
- B. December 2021
- C. August 2021
- D. June 2021
Explanation: At its February 2021 plenary, FATF retained Pakistan on the grey list until the June 2021 review.
Correct answer: June 2021- A. $1.5 billion
- B. $2 billion
- C. $1.1 billion
- D. None of these
Explanation: Pakistan and the International Islamic Trade Finance Corporation signed a 2021 annual financing plan worth $1.1 billion.
Correct answer: $1.1 billion