| 1 |
The trade transaction between the individuals of different areas of a country is called |
- A. Local trade
- B. Regional trade
- C. Domestic trade
- D. International trade
|
| 2 |
Advantages of international trade are |
- A. One
- B. Two
- C. Three
- D. Many
|
| 3 |
Which one of the following is included in balance of payment |
- A. Visible goods
- B. Invisible goods
- C. Visible & invisible goods
- D. Non material goods
|
| 4 |
Balance of payment of a country in unfavourable when its |
- A. Receipts are more than payments
- B. Receipts are less than payments
- C. Receipts are equal to payments
- D. None of three
|
| 5 |
Balance of payment of a country is balanced when its |
- A. Receipts are more than payments
- B. Receipts are less than payments
- C. Receipts are equal to payments
- D. None of three
|
| 6 |
International trade is based on the following except |
- A. Different factors of production are required for the production of different goods
- B. Factors of production exist in different ratios in different countries
- C. Factors of production are in abundant quantity in different countries
- D. Factors of production are in limited quantity in different countries
|
| 7 |
Cheque is which kind of money: |
- A. Credit money
- B. Paper money
- C. Standard money
- D. Legal money
|
| 8 |
In comparative cost or comparative advantage theory, ratio is |
- A. 1x1 one good one country
- B. 2x2 two goods two countries
- C. 1x2 one good two countries
- D. 2x1 two goods one country
|
| 9 |
Balance of payment of a country is favourable when its |
- A. Receipts are more than payments
- B. Receipts are less than payments
- C. Receipts are equal to payments
- D. None of three
|
| 10 |
When there is inflation attached with high unemployment level, it is called ? |
- A. Stagflation
- B. Hyper inflation
- C. Demand pull inflation
- D. Cost push inflation
|
