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

Question # 1

Foregn trade creates among countries.

Conficits A
Cooperation B
Hatred C
None D

Question # 2

What would encourage trade betwene two countries.

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

Trade between two countries can be useful if cost ratios of goods are.

Equal A
Different B
Undertimed C
Decreasing D

Question # 5

Govt policy about exports and imports is called.

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

Question # 6

Ric countries have deficit in their balance of payments

Some times A
Never B
Atternatee years C
Always D

Question # 7

A Triff

Increase the volume trade A
Reduces the volume of trade B
Has no effect on volume of tradea C
a and c above D

Question # 8

Foreign Trade

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

Question # 9

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 # 10

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

Increase A
Decrease B
Double C
No effect D

Question # 11

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 # 12

Pakistan is not a memebr of

IMF A
ECO B
OPEC C
World Bank D

Question # 13

Foreign Trade are

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

Question # 14

Theory of omparative advantages was presented.

Ricardo A
Adam Smith B
Hicks C
Arshad D

Question # 15

What would encorage trade betwene two countries.

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

Question # 16

Which of the following is international trade

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

Question # 17

Policy of Protecton in trade

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

Sr.#	Question	Answer
1	Foreign Trade are	A. Benefits developed countries B. Benefits underdeveloped countires C. Benefits all countries D. Benefits democretive countries
2	Foregn trade creates among countries.	A. Conficits B. Cooperation C. Hatred D. None
3	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
4	Foreign Trade	A. Increses employment opportunites B. Increases international mobility of labour C. Increases competition D. All of the above
5	Trade between two countries can be useful if cost ratios of goods are.	A. Equal B. Different C. Undertimed D. Decreasing
6	Ric countries have deficit in their balance of payments	A. Some times B. Never C. Atternatee years D. Always
7	Policy of Protecton in trade	A. Facilitates trade B. Protects local producers C. Protects foreign producers D. Protects exporters
8	International trade and domestic trade fiffer because of.	A. Trade restrictions B. Immobility of factors C. Difference govt Policy D. All of the above
9	What would encorage trade betwene two countries.	A. Reduced tariffs B. Quality control C. Differente tax system D. Fixing import quotes
10	A Triff	A. Increase the volume trade B. Reduces the volume of trade C. Has no effect on volume of tradea D. a and c above

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Foregn trade creates among countries.

What would encourage trade betwene two countries.

All are advantages of oreign trade Except.

Trade between two countries can be useful if cost ratios of goods are.

Govt policy about exports and imports is called.

Ric countries have deficit in their balance of payments

A Triff

Foreign Trade

Two countries can gain from foreign trade if

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

In foreign trde protection policy means.

Pakistan is not a memebr of

Foreign Trade are

Theory of omparative advantages was presented.

What would encorage trade betwene two countries.

Which of the following is international trade

Policy of Protecton in trade

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