Question # 1

In balance of payment are included

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Visible items

Invisible items

Visible and invisible items

Material items

The term "inflation" means:

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Rapid increase in price level

Decrease in price level

General increase in price level

Both a and c

If the face value of a coin is equal to the value of metal used in:

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Legal money

Token money

Standard money

Both b and c

If currency can converted into gold, it is called:

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Convertible paper money

Inconvertible paper money

Bank Money

Both a and b

Recent international depression was appeared in:

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1936

1990

2005

2008

Advantages of international trade are

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One

Two

Three

Many

Money which can be converted into cash money is known is:

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Near money

Paper money

Legal tender money

Token money

The systematic record of the money value of visible exports and visible imports of one year of country is called

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Balance of trade

Balance of payment

International balance

External balance

The first great depression was appeared in:

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1934

1930

1932

1936

Deflation means:

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Rapid increase in price level

General decrease in price level

General increase in price level

Both a and c

The most appropriate definition of money was given by:

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F.A.Walker

Keynes

Pigou

Crowther

International Monetary fund is

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Local

Regional

National

International

When general price level increases due to increase in cost of production, it is known as ?

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Stagflation

Hyper inflation

Demand pull inflation

Cost push inflation

The trade that takes place between the individuals living in different areas of a country is called

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Domestic trade

International trade

Foreign trade

Regional Trade

In order to improve the balance of payment the foremost try is to increase

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Imports

Exports

Production

Savings

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Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test MCQs With Answers

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