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This online test contains MCQs about following topics:
. Meaning of international trade . Differnce in international trade and national trade . Importance of international trade . Adam Simth's theory o fabsolute advantage . Assumptions of theory . Criticism of theory . Causes of deficit in balance of payments
ICOM Part 1 Economics Ch 12 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 12 "Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test"
Try The MCQ's Test For Chapter 12 "Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test
00:00
Question # 1
In balance of payment are included
Question # 2
The term "inflation" means:
Question # 3
The trade that takes place between the individuals living in different areas of a country is called
Question # 4
One of the following is not included in the methods of removing deficit in balance of payments of a country
Question # 5
One of the following is not included in the causes of deficit in balance of payments of a country
Question # 6
Absolute advantage theory was presented by
Question # 7
One of the following is not disadvantage of international trade
Question # 8
In which year international monetary fund was established
Question # 9
Factors of production are more mobile
Question # 10
When general price level increases due to increase in aggregate demand, it is known as?
Question # 11
Balance of payment of a country is balanced when its
Question # 12
Quantity theory of money was introduced in an equation by:
Question # 13
Quantity theory of money was criticized by:
Question # 14
Which one of the following is included in balance of trade
Question # 15
Which economist explained the absolute difference of cost of two good between two countries
11th Principle of Economics Chapter 12 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 12 International Trade Test. Click the button for 100% free full practice test.
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ICom Part 1 Principles of Economics ( English Medium) Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | The systematic record of visible and invisible exports and imports of a country in one year is called |
A. Balance of trade
B. Balance of payment
C. External balance
D. Internal balance
|
| 2 | The trade that takes place between the inhabitants of two countries is called |
A. Domestic trade
B. International trade
C. National trade
D. Regional Trade
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| 3 | In order to improve the balance of payment the foremost try is to increase |
A. Imports
B. Exports
C. Production
D. Savings
|
| 4 | Difficulties in barter system: |
A. Lack of double coincidence of wants
B. Lack of storing value
C. Lack of common measure of value
D. All of these
|
| 5 | Inflation can be controlled by: |
A. Fiscal policy
B. Monetary policy
C. Trade policy
D. Both a and b
|
| 6 | 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
|
| 7 | Absolute advantage theory was presented by |
A. Adam Smith
B. Prof Walker
C. Ricardo
D. Marshall
|
| 8 | 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
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| 9 | The base of international trade theory of Devid Ricardo is |
A. Absolute advantage
B. Comparative cost
C. Cheaper cost
D. Low cost
|
| 10 | One of the following is not included in the methods of removing deficit in balance of payments of a country |
A. Increase in exports
B. Increase in imports
C. Devaluation of currency
D. Decrease in the quantity of money
|
Test Questions