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12th Class Principles of Economics Chapter 8 Test

12th class I.Com Part 2 Principles of Economics chapter 8 Online MCQs test with answers for Principles of Economics


I.Com Part 2 Principles of Economics
Chapter 8 Test

Start Chapter 8 Test

I.Com Part 2 Principles of Economics Chapter Wise Test
(English Medium)

12th class I.Com Part 2 Principles of Economics chapter 8 Online MCQs test with answers for Principles of Economics

Sr. # Questions Answers Choice
1 Exchange rate of currencies is determined by supply and demand in system of
  • A. Fixed exchange rate
  • B. flexible
  • C. constant
  • D. govt. regulated
2 Modern theory of international trade is based on the views of
  • A. Robbins and Ricardo
  • B. Adam Smith and Marshall
  • C. Heckcsher and Ohlin
  • D. Saleem and Kareem
3 A tariff
  • A. Increases the volume of trade
  • B. Reduces the volume of trade
  • C. Has no effect on volume of trade
  • D. A and C of above
4 If Japan and Pakistan start free trade, difference in wages in two countries will
  • A. Increase
  • B. Decrease
  • C. No effect
  • D. Double
5 Visible goods are recorded in this part of balance of payments account
  • A. Current account
  • B. Capital account
  • C. Govt. Account
  • D. Official account
6 A tariff is
  • A. A restriction on the number of export firms
  • B. Limit on the amount of imported goods
  • C. Tax on imports
  • D. B and C of above
7 In Japanese import more goods from Pakistan.
  • A. Our balance of payments will improve
  • B. Japan's BOP wll deteriorate
  • C. Our BOP will deteriorate
  • D. a and b of above
8 All are advantages of foreign trade EXCEPT
  • A. People get foreign exchange
  • B. Nations compete
  • C. Cheaper goods
  • D. Optimum utilisation of country's resources
9 In a free trade world in which no restrictions exist, international trade will lead to
  • A. Reduced real living standard
  • B. Decreased efficiency
  • C. Increased efficiency
  • D. Reduced real GDP
10 Govt. policy about exports and imports is called
  • A. Monetary policy
  • B. Fiscal policy
  • C. Commercial policy
  • D. Finance policy

Chapterwise Lists

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