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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.

First Year Principles of Economics Chapter 12 Online MCQ Test for 1st Year Principles of Economics Chapter 12 (International Trade)

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
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First Year Principles of Economics Chapter 12 Online MCQ Test for 1st Year Principles of Economics Chapter 12 (International Trade)

Sr. # Questions Answers Choice
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 In order to improve the balance of payment the foremost try is to increase
  • A. Imports
  • B. Exports
  • C. Production
  • D. Savings
3 Factors of production are more mobile
  • A. In international trade
  • B. In the country
  • C. In both
  • D. In none
4 "Money is what money does" is the statements of:
  • A. Robbins
  • B. Marshall
  • C. Hicks
  • D. Keynes
5 When general price level increases due to increase in aggregate demand, it is known as?
  • A. Stagflation
  • B. Hyper inflation
  • C. Demand pull inflation
  • D. Cost push inflation
6 Inflation can be controlled by:
  • A. Fiscal policy
  • B. Monetary policy
  • C. Trade policy
  • D. Both a and b
7 If the face value of a coin is greater than the value of metal used in:
  • A. Legal money
  • B. Token money
  • C. Standard money
  • D. Both b and c
8 Which economist has stated the definition of balance of payments
  • A. Robbins
  • B. Kindleberger
  • C. Marshall
  • D. Keynes
9 Quantity theory of money was criticized by:
  • A. Marshall
  • B. Sameulson
  • C. Keynes
  • D. Both b and c
10 Cheque is which kind of money:
  • A. Credit money
  • B. Paper money
  • C. Standard money
  • D. Legal money

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