| 1 |
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
|
| 2 |
Comparative cost theory is also called |
- A. Theory of comparison cost
- B. Theory of specialization of cost
- C. Theory of balanced cost
- D. Theory of specialization of production
|
| 3 |
Which economist explained the absolute difference of cost of two good between two countries |
- A. Malthus
- B. Adam Smith
- C. Ricardo
- D. J.S Mill
|
| 4 |
Inflation can be controlled by: |
- A. Fiscal policy
- B. Monetary policy
- C. Trade policy
- D. Both a and b
|
| 5 |
In balance of payment are included |
- A. Visible items
- B. Invisible items
- C. Visible and invisible items
- D. Material items
|
| 6 |
The systematic record of the money value of visible exports and visible imports of one year of country is called |
- A. Balance of trade
- B. Balance of payment
- C. International balance
- D. External balance
|
| 7 |
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
|
| 8 |
One of the following is invisible item of balance of payment |
- A. Import of motor cars
- B. Exports of cotton
- C. Expenditure of passengers traveling by air
- D. Private investment in foreign country
|
| 9 |
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
|
| 10 |
A system where the goods are exchanged with money is known as: |
- A. Monetary system
- B. Barter system
- C. Coins system
- D. Modified system
|
