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

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

Increase A
Decrease B
Double C
No effect D

Question # 3

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 # 4

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

Equal A
Different B
Undertimed C
Decreasing D

Question # 5

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 # 6

Foreign Trade are

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

Question # 7

Pakistan is not a memebr of

IMF A
ECO B
OPEC C
World Bank D

Question # 8

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 # 9

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 # 10

What would encorage trade betwene two countries.

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

Question # 11

Foregn trade creates among countries.

Conficits A
Cooperation B
Hatred C
None D

Question # 12

Foreign Trade

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

Question # 13

Theory of omparative advantages was presented.

Ricardo A
Adam Smith B
Hicks C
Arshad D

Question # 14

Govt policy about exports and imports is called.

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

Question # 15

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

Free goods A
Comparative advantage B
Unemployment C
Self Sufficiency 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

What would encourage trade betwene two countries.

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

Sr.#	Question	Answer
1	Which of the following is international trade	A. Trade between provinces B. Trade between countries C. Trade betwene regions D. Trade between continents
2	Govt policy about exports and imports is called.	A. Monetary policy B. Fiscal policy C. Commercial Policy D. Finance policy
3	Pakistan Importss some goods and exports other goods primarily because of.	A. Free goods B. Comparative advantage C. Unemployment D. Self Sufficiency
4	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
5	Trade between two countries can be useful if cost ratios of goods are.	A. Equal B. Different C. Undertimed D. Decreasing
6	Foreign Trade are	A. Benefits developed countries B. Benefits underdeveloped countires C. Benefits all countries D. Benefits democretive countries
7	Theory of omparative advantages was presented.	A. Ricardo B. Adam Smith C. Hicks D. Arshad
8	It Japan and Pakistan start free trade differene in wges in two counties will	A. Increase B. Decrease C. Double D. No effect
9	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
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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Ric countries have deficit in their balance of payments

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

A Triff

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

In foreign trde protection policy means.

Foreign Trade are

Pakistan is not a memebr of

All are advantages of oreign trade Except.

International trade and domestic trade fiffer because of.

What would encorage trade betwene two countries.

Foregn trade creates among countries.

Foreign Trade

Theory of omparative advantages was presented.

Govt policy about exports and imports is called.

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

Which of the following is international trade

What would encourage trade betwene two countries.

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