| 1 |
Theory of comparative advantage was presented by |
- A. Adam Smith
- B. Ricardo
- C. Hicks
- D. Arshad
|
| 2 |
The receipts and payments for goods exported and imported are counted in |
- A. Trade account
- B. Capital account
- C. Current account
- D. monetary account
|
| 3 |
Fixed exchange rate system has the advantage. |
- A. Automatic adjustment of balance of payments
- B. Greater govt control over foreign trade
- C. discourages unnecessary speculation about future trade deals
- D. b and c of above
|
| 4 |
Foreign trade creates among countries |
- A. Conflicts
- B. Cooperation
- C. Harted
- D. A and b
|
| 5 |
If TOYOTA company, establishes a factory in Pakistan, this will be recorded in balance of payments in the section. |
- A. Capital account
- B. Visible balance
- C. Invisible balance
- D. Official financing
|
| 6 |
Visible import include |
- A. Remittance
- B. Machineary
- C. Computer software
- D. transport cost
|
| 7 |
Balance of payments of country inclueds |
- A. Balance of trade
- B. Capital receipts and payments
- C. Saving and investment account
- D. a and b above
|
| 8 |
Dumping refers to |
- A. Buying goods at low prices abroad and selling at higher prices locally
- B. Expensive goods selling for low prices
- C. Reducing tariffs
- D. Sale of goods abroad at low a price, below their cost and price in home market
|
| 9 |
Pakistan exports as percentage GDP are |
- A. 4%
- B. 8%
- C. 12%
- D. 16%
|
| 10 |
According to Hecsher and Ohlin basic cause of international trade is |
- A. Difference in factor endowments
- B. Difference in markets
- C. Difference in political system
- D. Difference in ideology
|
