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Online Tests
Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test MCQs With Answers
Question # 1
When general price level increases due to increase in aggregate demand, it is known as?
Choose an answer
Stagflation
Hyper inflation
Demand pull inflation
Cost push inflation
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Question # 2
The trade transaction between the individuals of different areas of a country is called
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Local trade
Regional trade
Domestic trade
International trade
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Question # 3
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
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Question # 4
Comparative cost theory is also called
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Theory of comparison cost
Theory of specialization of cost
Theory of balanced cost
Theory of specialization of production
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Question # 5
According to comparative cost theory conditions ------------- in goods and labour market exist
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of monopoly
of duopoly
Monopolistic competition
of perfect competition
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Question # 6
Recent international depression was appeared in:
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1936
1990
2005
2008
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Question # 7
Balance of visible goods of a country mean
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Quantity of imports & exports
Value of imports & exports
Value of imported & exported goods and services
Value of imported & exported services
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Question # 8
Because of devaluation of currency of a country, its exports
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Decrease
Increase
Remains constant
Go on changing
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Question # 9
"Money is what money does" is the statements of:
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Robbins
Marshall
Hicks
Keynes
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Question # 10
When there is inflation attached with high unemployment level, it is called ?
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Stagflation
Hyper inflation
Demand pull inflation
Cost push inflation
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Question # 11
The exchange of goods and services from country to country is called
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Foreign
National trade
Corporate trade
Domestic trade
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Question # 12
In which of the following condition theory of international trade is presented
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Monopoly
Duopoly
Monopolistic competition
Perfect competition
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Question # 13
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
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Question # 14
International trade is based on the following except
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Different factors of production are required for the production of different goods
Factors of production exist in different ratios in different countries
Factors of production are in abundant quantity in different countries
Factors of production are in limited quantity in different countries
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Question # 15
The record of visible and invisible items on international account is called
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Balance of payment
Balance of trade
Balance of budget
Capital account
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