12th class Economics chapter 7 online mcq test with answers for ICS part 2 Economics chapter 7 (Public Finance)

Question # 1

Ric countries have deficit in their balance of payments

Some times A
Never B
Atternatee years C
Always D

Question # 2

Pakistan is not a memebr of

IMF A
ECO B
OPEC C
World Bank D

Question # 3

All are advantages of oreign trade Except.

People get foreign exchange A
Difference in politicla system B
Difference in markets C
Difference in ideology D

Question # 4

It Japan and Pakistan start free trade differene in wges in two counties will

Increase A
Decrease B
Double C
No effect D

Question # 5

Foreign Trade are

Benefits developed countries A
Benefits underdeveloped countires B
Benefits all countries C
Benefits democretive countries D

Question # 6

In foreign trde protection policy means.

Restrictions on imports A
Restrictions on exports B
Restriction on transfer of foreign exchagne C
All of the above D

Question # 7

Policy of Protecton in trade

Facilitates trade A
Protects local producers B
Protects foreign producers C
Protects exporters D

Question # 8

Two countries can gain from foreign trade if

Cost ratios are differnet A
Traiff rates are different B
Price ratios are different C
a and c above D

Question # 9

Govt policy about exports and imports is called.

Monetary policy A
Fiscal policy B
Commercial Policy C
Finance policy D

Question # 10

What would encourage trade betwene two countries.

Different tax system A
Frontier checks B
National currencies C
Reduce traiff D

Question # 11

Pakistan Importss some goods and exports other goods primarily because of.

Free goods A
Comparative advantage B
Unemployment C
Self Sufficiency D

Question # 12

Net exports equal

Exports x imports A
Exports + imports B
exports- imports C
None of the above D

Question # 13

What would encorage trade betwene two countries.

Reduced tariffs A
Quality control B
Differente tax system C
Fixing import quotes D

Question # 14

International trade and domestic trade fiffer because of.

Trade restrictions A
Immobility of factors B
Difference govt Policy C
All of the above D

Question # 15

Which of the following is international trade

Trade between provinces A
Trade between countries B
Trade betwene regions C
Trade between continents D

Question # 16

Foreign Trade

Increses employment opportunites A
Increases international mobility of labour B
Increases competition C
All of the above D

Question # 17

Theory of omparative advantages was presented.

Ricardo A
Adam Smith B
Hicks C
Arshad D

Sr.#	Question	Answer
1	Theory of omparative advantages was presented.	A. Ricardo B. Adam Smith C. Hicks D. Arshad
2	What would encorage trade betwene two countries.	A. Reduced tariffs B. Quality control C. Differente tax system D. Fixing import quotes
3	It Japan and Pakistan start free trade differene in wges in two counties will	A. Increase B. Decrease C. Double D. No effect
4	Ric countries have deficit in their balance of payments	A. Some times B. Never C. Atternatee years D. Always
5	All are advantages of oreign trade Except.	A. People get foreign exchange B. Difference in politicla system C. Difference in markets D. Difference in ideology
6	In foreign trde protection policy means.	A. Restrictions on imports B. Restrictions on exports C. Restriction on transfer of foreign exchagne D. All of the above
7	Net exports equal	A. Exports x imports B. Exports + imports C. exports- imports D. None of the above
8	Policy of Protecton in trade	A. Facilitates trade B. Protects local producers C. Protects foreign producers D. Protects exporters
9	Trade between two countries can be useful if cost ratios of goods are.	A. Equal B. Different C. Undertimed D. Decreasing
10	Pakistan is not a memebr of	A. IMF B. ECO C. OPEC D. World Bank

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Ric countries have deficit in their balance of payments

Pakistan is not a memebr of

All are advantages of oreign trade Except.

It Japan and Pakistan start free trade differene in wges in two counties will

Foreign Trade are

In foreign trde protection policy means.

Policy of Protecton in trade

Two countries can gain from foreign trade if

Govt policy about exports and imports is called.

What would encourage trade betwene two countries.

Pakistan Importss some goods and exports other goods primarily because of.

Net exports equal

What would encorage trade betwene two countries.

International trade and domestic trade fiffer because of.

Which of the following is international trade

Foreign Trade

Theory of omparative advantages was presented.

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