Question # 1

The systematic record of visible and invisible exports and imports of a country in one year is called

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Balance of trade

Balance of payment

External balance

Internal 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

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

Balance of payment of a country is favourable when its

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Receipts are more than payments

Receipts are less than payments

Receipts are equal to payments

None of three

The exchange of goods and services from country to country is called

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Foreign

National trade

Corporate trade

Domestic trade

Factors of production are more mobile

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In international trade

In the country

In both

In none

The relation between quantity of money and value of money is:

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Positive

Negative

Direct

Inverse

In which year international monetary fund was established

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1941

1944

1945

1947

Which of the following is not invisible trade

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Expenditure on education in other country

Expenditure on imported machinery

Expenditure of passengers traveling by air

Expenditure of goods carried by a ship

The base of international trade theory of Adam Smith is

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Absolute advantage

Comparative cost

Cheaper cost

Low cost

The base of international trade theory of Devid Ricardo is

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Absolute advantage

Comparative cost

Cheaper cost

Low cost

In comparative cost or comparative advantage theory, ratio is

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1x1 one good one country

2x2 two goods two countries

1x2 one good two countries

2x1 two goods one country

The trade that takes place between the inhabitants of two countries is called

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Domestic trade

International trade

National trade

Regional Trade

In balance of payment are included

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Visible items

Invisible items

Visible and invisible items

Material items

" 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

Which one of the following is included in balance of trade

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Visible goods

Invisible goods

Visible & invisible goods

All the three

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

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

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

International Monetary fund is

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Local

Regional

National

International

A system where the goods are exchange with goods is known as:

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Monetary system

Barter System

Coins system

Goods system

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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