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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
Quantity theory of money was introduced by:
Question # 2
Quantity theory of money was criticized by:
Question # 3
In order to improve the balance of payment the foremost try is to increase
Question # 4
A system where the goods are exchanged with money is known as:
Question # 5
When general price level increases due to increase in aggregate demand, it is known as?
Question # 6
In which of the following condition theory of international trade is presented
Question # 7
In case of international trade, trade restrictions are usually
Question # 8
Which economist has stated the definition of balance of payments
Question # 9
Which economist explained the absolute difference of cost of two good between two countries
Question # 10
International trade is based on the following except
Question # 11
The trade transaction between the individuals of different areas of a country is called
Question # 12
The systematic record of visible and invisible exports and imports of a country in one year is called
Question # 13
Foreign exchange is used in
Question # 14
Because of devaluation of currency of a country, its exports
Question # 15
One of the following is not included in the methods of removing deficit in balance of payments of a country
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.
Top Scorers Of Chapter 12 "Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test" MCQ`s Test
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ICom Part 1 Principles of Economics ( English Medium) Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | " International balance of payment is all that transaction for which either foreign exchange is spent or received." This definition is stated by |
A. Prof. Marshal
B. Prof.Samuelson
C. Prof. Ricardo
D. Prof. Hicks
|
| 2 | Inflation can be controlled by: |
A. Fiscal policy
B. Monetary policy
C. Trade policy
D. Both a and b
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| 3 | In which of the following condition theory of international trade is presented |
A. Monopoly
B. Duopoly
C. Monopolistic competition
D. Perfect competition
|
| 4 | Factors of production are more mobile |
A. In international trade
B. In the country
C. In both
D. In none
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| 5 | Recent international depression was appeared in: |
A. 1936
B. 1990
C. 2005
D. 2008
|
| 6 | Which of the following is not invisible trade |
A. Expenditure on education in other country
B. Expenditure on imported machinery
C. Expenditure of passengers traveling by air
D. Expenditure of goods carried by a ship
|
| 7 | In between how many countries international trade takes place under comparative cost theory |
A. Two
B. Three
C. Four
D. Many
|
| 8 | One of the following is not included in the causes of deficit in balance of payments of a country |
A. Increase in exports
B. Increase in imports
C. Unfavourable terms of trade
D. Occurance of inflation
|
| 9 | The term "inflation" means: |
A. Rapid increase in price level
B. Decrease in price level
C. General increase in price level
D. Both a and c
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| 10 | The trade that takes place between the individuals living in different areas of a country is called |
A. Domestic trade
B. International trade
C. Foreign trade
D. Regional Trade
|
Test Questions