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

Question # 1

Govt policy about exports and imports is called.

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

Question # 2

Foreign Trade

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

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 # 6

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 # 7

Ric countries have deficit in their balance of payments

Some times A
Never B
Atternatee years C
Always D

Question # 8

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

Free goods A
Comparative advantage B
Unemployment C
Self Sufficiency D

Question # 9

What would encorage trade betwene two countries.

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

Question # 10

Which of the following is international trade

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

Question # 11

Foregn trade creates among countries.

Conficits A
Cooperation B
Hatred C
None D

Question # 12

What would encourage trade betwene two countries.

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

Question # 13

Net exports equal

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

Question # 14

Foreign Trade are

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

Question # 15

Theory of omparative advantages was presented.

Ricardo A
Adam Smith B
Hicks C
Arshad D

Question # 16

Pakistan is not a memebr of

IMF A
ECO B
OPEC C
World Bank D

Question # 17

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

Increase A
Decrease B
Double C
No effect D

Sr.#	Question	Answer
1	Foregn trade creates among countries.	A. Conficits B. Cooperation C. Hatred D. None
2	Pakistan Importss some goods and exports other goods primarily because of.	A. Free goods B. Comparative advantage C. Unemployment D. Self Sufficiency
3	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
4	Which of the following is international trade	A. Trade between provinces B. Trade between countries C. Trade betwene regions D. Trade between continents
5	Two countries can gain from foreign trade if	A. Cost ratios are differnet B. Traiff rates are different C. Price ratios are different D. a and c above
6	What would encorage trade betwene two countries.	A. Reduced tariffs B. Quality control C. Differente tax system D. Fixing import quotes
7	Trade between two countries can be useful if cost ratios of goods are.	A. Equal B. Different C. Undertimed D. Decreasing
8	Net exports equal	A. Exports x imports B. Exports + imports C. exports- imports D. None of the above
9	Pakistan is not a memebr of	A. IMF B. ECO C. OPEC D. World Bank
10	International trade and domestic trade fiffer because of.	A. Trade restrictions B. Immobility of factors C. Difference govt Policy D. All of the above

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ICS Part 2 Economics English Medium Chapter 7 Online Test

Govt policy about exports and imports is called.

Foreign Trade

All are advantages of oreign trade Except.

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

A Triff

Two countries can gain from foreign trade if

Ric countries have deficit in their balance of payments

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

What would encorage trade betwene two countries.

Which of the following is international trade

Foregn trade creates among countries.

What would encourage trade betwene two countries.

Net exports equal

Foreign Trade are

Theory of omparative advantages was presented.

Pakistan is not a memebr of

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

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