Question # 1

Recent international depression was appeared in:

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1936

1990

2005

2008

One of the following is not advantage of international trade

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Provision of necessities of life

Imperfections of market

Provision of medicines & machinery

Provision of necessities of defence

The first great depression was appeared in:

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1934

1930

1932

1936

When general price level increases due to increase in aggregate demand, it is known as?

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Stagflation

Hyper inflation

Demand pull inflation

Cost push inflation

In case of international trade, trade restrictions are usually

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Limited

More

Too much

None of three

In balance of payment are included

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Visible items

Invisible items

Visible and invisible items

Material items

Which economist explained the absolute difference of cost of two good between two countries

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Malthus

Adam Smith

Ricardo

J.S Mill

"Money is what money does" is the statements of:

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Robbins

Marshall

Hicks

Keynes

One of the following is not included in the causes of deficit in balance of payments of a country

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Increase in exports

Increase in imports

Unfavourable terms of trade

Occurance of inflation

Balance of payment of a country is balanced when its

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Receipts are more than payments

Receipts are less than payments

Receipts are equal to payments

None of three

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

Factors of production are more mobile

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In international trade

In the country

In both

In none

One of the following is invisible item of balance of payment

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Import of motor cars

Exports of cotton

Expenditure of passengers traveling by air

Private investment in foreign country

" International balance of payment is all that transaction for which either foreign exchange is spent or received." This definition is stated by

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Prof. Marshal

Prof.Samuelson

Prof. Ricardo

Prof. Hicks

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

One of the following is not included in the methods of removing deficit in balance of payments of a country

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Increase in exports

Increase in imports

Devaluation of currency

Decrease in the quantity of money

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

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