Friday 19 February 2021

Economics Solved MCQs with Answers for PPSC, NTS, FPSC Tests

Economics Solved MCQs with Answers for PPSC, NTS, FPSC Tests

If you are looking for the mcqs of economics with answers then you are on the right page because here we have shared the Economics Solved MCQs with Answers for PPSC, NTS, FPSC Tests

273: The Balance Of Payment Is Understood As:
  1. The Balance Of Amount After Paying Debt
  2. The Balance Of Income And Expenditure In The Annual Budget
  3. The Balance Between A Nation's Expenditure On Imports And Its Receipts From Exports.
  4. None Of The Above
Answer: c
274: Pinpoint The Main Objectives Of World Trade Organization(WTO):
  1. Fix A Quota For Each Member Country Trading In International Market
  2. To Eliminate Quota System And Promote Free Competition In Trade.
  3. To Secure Third World Markets For American And European Goods
  4. To Abolish Completely Custom Duties On Items Of Trade Within Member Countries
Answer: b
275: The Number Of Family Welfare Centres In Punjab Are:
  1. 560
  2. 940
  3. 1230
  4. 1503
Answer: b
276: Which Of The Following Statement Is Not True?
  1. The World Bank Has To Affiliates, The International Development Association And The International Finance Corporation.
  2. The Membership Of The IMF Is The Principal Condition For Membership Of The World Bank.
  3. The World Bank Provides Loans To Such Countries Whose Balance Of Payments Condition Is Not Favourable
  4. The World Bank Finance All Kinds Of Capital Infrastructure Such As Roads And Railways,telecommunications, Seaports And Power Facilities In The Developing Countries.
Answer: c
277: Identify The Main Functions Of IMF:
  1. To Provide Loans To The Members Of UNO For Development Of Industrial Infra Structure
  2. To Make Foreign Exchange Resources Available For Those Countries That Want To Import Essential Items Of Food
  3. To Make Foreign Exchange Resources Available For Those Countries Facing Balance Of Payments Difficulties
  4. None Of The Above
Answer: c
278: The United Nations Celebrated 'International Year Of Shelter For The Homeless' In:
  1. 1985
  2. 1987
  3. 1990
  4. 1992
Answer: b
279: The Islamic Development Bank Would Provide Half A Billion US Dollars In Capital To Create--
  1. Private Pan Islamic Bank
  2. International Islamic Foundation For Science And Technology
  3. Refugees Rehabilitation Fund
  4. None Of The Above
Answer: b
280: The Domestic Production Of Crude Oil In The Country Is Approximately (per Day)
  1. 44,300 Barrels
  2. 57,700 Barrels
  3. 65,200 Barrels
  4. 70,000 Barrels
Answer: b
281: The Regulations Of World Trade Organization (WTO) Shall Be Enforced From:
  1. 1 January 2002
  2. 1 January 2003
  3. 1 July 2004
  4. 1 January 2005
Answer: d
282: The Biggest Market Of Pakistani Exports Is:
  1. France
  2. Saudi Arabia
  3. U.S.A
  4. U.K.
Answer: c
283: The Biggest Market Of Pakistani Imports Is:
  1. USA
  2. U.K.
  3. Russia
  4. Japan
Answer: a
284: The Government Has Reduced The Rate Of Profit On National Saving Schemes Primarily For The Reason Of:
  1. Enhancing The Level Of Saving Rate
  2. Discouraging The Blockage Of Money In Such Schemes
  3. To Encourage The Investors To Invest Their Capital In Active Business Ventures
  4. To Bridge The Gap Between Their Profit Rate And Bank's Mark Up Rate On Loans
Answer: d
285: Pakistan's Domestic Demand For Petroleum Products In Growing Annually With The Percentage Of:
  1. 3 Percent
  2. 5 Percent
  3. 8 Percent
  4. 15 Percent
Answer: b
286: The Women's Division Was Created In The Federal Government In January:
  1. 1974
  2. 1977
  3. 1979
  4. 1981
Answer: a
287: The First 'World Population Conference' Under The United Nations Was Held In 1975 At:
  1. Kampala
  2. Bucharest
  3. Nairobi
  4. Ankara
Answer: b
288: Difference Between A Countrys Exports And Imports Is:
  1. Trade Balance
  2. Trade Deficit
  3. Trade Surplus
  4. Volume Of Trade
Answer: a
289: Cash Crop Is The Crop:
  1. Which Gives High Profit To The Farmers
  2. Which Is Grown Only For Sale
  3. Which Is Grown After Taking Cash Loan From Banks
  4. None Of The Above One
Answer: b
290: The Lowering Of The Value Of A Currency In The International Market Or Against Specific Other Currencies, Which Makes Exports Cheaper And Imports Expensive Is Called:
  1. Devaluation
  2. Revolution
  3. Inflation
  4. Deflation
Answer: a
291: The Value Of The Output Of All Goods And Services Produced Within A Nation's Borders, Normally Given As A Total For The Year .It Thus Includes The Production Of Foreign Owned Firms Within The Country, But Excludes The Income From Domestically Owned Firms
  1. Gross National Product4
  2. Gross Home Products
  3. Gross Domestic Product
  4. General Domestic Production
Answer: c
292: Dow Jones Index' Is The Scale:
  1. For Measuring Industrial Profit In A Year
  2. For Measuring The Average Share Price Of Leading Japanese Companies
  3. For Measuring The Average Share Price Of Major US Industrial Companies
  4. None Of The Above
Answer: c
293: Embargoes Are Designed To:
  1. Promote Trade Of Prohibited Goods
  2. Restrict Trade Of Particular Commodities
  3. Restrict Trade Of Drugs
  4. None Of The Above
Answer: b
294: When A Group Of Countries Have Removed All Tariffs Quotas And Export Subsidies On Trade Among Themselves That Is Called:
  1. Laissez Faire
  2. Liberal Trade Region
  3. Free Trade Zone
  4. All Of The Above One
Answer: c
295: Which One Among The Following Statements Is Truly Explainthe `Laissez Faire' Theory?
  1. State Should Refrain From All Intervention In Economic Affairs
  2. State Should Manage Every Field Of Economic Activities For The Benefit Of The Public
  3. There Should Be Fair Distribution Of Wealth In The Society
  4. None Of The Above One
Answer: a
296: The Lowest Number Of People Living Below The Poverty Line Among The SAARC Countries Are In:
  1. Bangladesh
  2. Pakistan
  3. Nepal
  4. Sri Lanka
Answer: d
297: Family Planning In Rural Areas Hampered Mainly Due To:
  1. Deficiency In Planning
  2. Lack Of Knowledge
  3. Psychological And Social Orthodoxy
  4. Non-availability Of Devices
Answer: b
298: Both-way Trade Between Two Countries Is Also Known As:
  1. Government Expenditure
  2. Fiscal Revenue
  3. Volume Of Trade
  4. Terms Of Trade
Answer: c
299: Trade By Exchange Of Commodities Is Called:
  1. International Trade
  2. Foreign Exchange
  3. Line Of Credit
  4. Barter Trade
Answer: d
300: Tax On A Commodity According To Its Volume Is:
  1. Real Tax
  2. Direct Tax
  3. Indirect Tax
  4. Ad Valorem Tax
Answer: d
301: Who Is The First Tax Mohtasib Of Pakistan?
  1. Justice (R) Saleem Kazmi
  2. Justice (R) Allah Nawaz
  3. Justice (R) Ijaz Nisar
  4. Justice (R) Saleem Akhtar
Answer: d
302: Safety Stock Of Grains Held By The Government Is:
  1. Surplus Stock
  2. Overhead Stock
  3. Buffer Stock
  4. Overall Stock
Answer: b
303: The Lowest Price Below Which A Thing Will Not Be Sold Is Called Its:
  1. Floor Price
  2. Ceiling Price
  3. Real Price
  4. Average Price
Answer: a
304: When No Tariffs Are Imposed On Exports And Imports, It Is Called:
  1. Two Way Trade
  2. Exchange Trade
  3. Free Trade
  4. Selective Trade
Answer: c
305: An Economy When Private And Government Enterprises Both Operates, Is:
  1. Free Economy
  2. Closed Economy
  3. Joint Economy
  4. Mixed Economy6
Answer: d
306: Agreement Between Two Countries Is:
  1. Multi Lateral Agreement
  2. Bilateral Agreement
  3. Single Agreement
  4. Special Agreement
Answer: b
307: Family Planning Programme Was Started In Pakistan In:
  1. 1952
  2. 1955
  3. 1957
  4. 1959
Answer: a
308: What Percentage Of Population In Pakistan Is Under The Age Of 15?
  1. 38%
  2. 40%
  3. 45%
  4. 50%
Answer: c
309: A Free Port Is The Port Where:
  1. Less Duties Are Paid
  2. No Duties And No Restrictions
  3. Selective Duties Are Paid
  4. Restrictions On Imports But Not On Exports
Answer: b
310: Which Country Has Maximum Foreign Project Investments In Pakistan?
  1. USA
  2. U.K
  3. China
  4. Japan
Answer: c
311: What Do You Understand By The Term 'Kerb' In Foreign Currency Dealings:
  1. The Exchange Rate Of Currencies In The Open Market
  2. The Exchange Rate Of Currencies Determined By The StateBank Of Pakistan
  3. All Sort Of Monetary Dealings In Foreign Currencies Within The Stock Exchange
  4. None Of The Above One
Answer: a
312: Financial Year Of USA Starts From:
  1. 1st January
  2. 1st March
  3. 1st July
  4. 1st April
Answer: c
313: In The Budget 2001-2002, The Government Has Decided To Wind-up One Of The Following Privilege Of The New Employees:
  1. House Rent
  2. Benevolent Fund
  3. Pension
  4. None Of The Above
Answer: d
314: In The Budget 2001-2002, The Largest Sector Of Current Expenditure Is Allocated On:
  1. Defence
  2. Subsidies
  3. Running Of Civil Government
  4. Debt Servicing
Answer: c
315: In The Budget 2001, 2002, What Amount The Government Has Allocated To Undertake New Water Projects In The Country:
  1. Rs. 2 Billion
  2. Rs.4 Billion
  3. Rs.5 Billion
  4. Rs.3 Billion
Answer: d
316: General Sales Tax, Under The Constitution 1973 Is A:
  1. Federal Subject
  2. Provincial Subject
  3. Concurrent Subject
  4. None Of The Above One
Answer: a
317: Which Of The Following Country Will Provide Financial Aid For The Construction Of Gwadar Port And Makran Coastal Highway In Balochistan?
  1. China
  2. Canada
  3. USA
  4. Russia
Answer: a
318: The World's Most Powerful Super Computer Is Called:
  1. ASCI White
  2. ASCI Red
  3. ASCI Pink
  4. None Of The Above
Answer: a
319: The Outflow Of The Best And Brightest Students From Developing Countries Is Called:
  1. Migration Of Intellectual
  2. Shift Of Brain
  3. Brain Drain
  4. Transfer Of Mind
Answer: c
320: Which Five Year Plan Of Pakistan Is Yet To Be Implemented?
  1. 7th
  2. 8th
  3. 9th
  4. 10th
Answer: c
321: The Per Capita Income Of Pakistan Is Approximately:
  1. 350 US Dollars
  2. 408 US Dollars
  3. 483 US Dollars
  4. 503 US Dollars
Answer: c
322: Which Province Has The Highest Literacy Rate?
  1. N.W.F.P.
  2. Balochistan
  3. Punjab
  4. Sindh
Answer: d
323: According To A Recent Report Of International Labour Organization (ILO) The Number Of People In The World Living On Two Dollars Or Less A Day Are:
  1. 2 Billion
  2. 3 Billion
  3. 3.5 Billion
  4. 4 Billion
Answer: b
324: Pinpoint The Source, Through Which Budgetary Gap Is Financed In Pakistan?
  1. External Borrowing
  2. Domestic Non-Bank Borrowing
  3. Borrowing From To Banking System
  4. All The Above Sources
Answer: d
325: If A Country Wants To Achieve Rapid Rate Of Economic Development, It Must Save At Least:
  1. 25% Gross National Products Each Year
  2. 30% Gross National Products Each Year
  3. 35% Gross National Products Each Year
  4. 40% Gross National Products Each Year
Answer: a
326: Identify The Main Reason Of 'deficit Financing' In Pakistan-
  1. Low Savings
  2. Rapid Growth Of Population
  3. Inadequate Banking Facilities
  4. All The Above One
Answer: d
327: Pakistan's Domestic Saving Rate Of GNP Is:
  1. 7%
  2. 9%
  3. 11%
  4. 14%
Answer: c
328: Which Is The Single Largest Component Of GDP Of Pakistan?
  1. Industry
  2. Agriculture
  3. Foreign Remittances
  4. None Of The Above
Answer: b
329: Which Of The Following Sector Is The Main Source Of Foreign Exchange Earnings In Pakistan?
  1. Industry
  2. Agriculture
  3. Both The Above
  4. None Of The Above One
Answer: b
330: Identify The Duration Of The First Five Year Plan Of Pakistan:
  1. 1948 - 52
  2. 1955 - 60
  3. 1960 - 65
  4. 1962 - 67
Answer: b
331: What Is The Share Of Wheat Crop In Total Cropped Area Of Pakistan?
  1. 18.05%
  2. 28.07%
  3. 37.01%
  4. 48.01%
Answer: c
332: The Total Area Of Pakistan Is 80 Million Hectares, Out Of Which Area Under Forests Is:
  1. 3.5%
  2. 4.8%
  3. 7.3%
  4. 9.3%
Answer: b
333: OPEC's Largest Oil Producing Country Is:
  1. Kuwait
  2. Iran
  3. Saudi Arabia
  4. U.A.E
Answer: c
334: The Aid To Pakistan Consortium Now Renamed As:
  1. IMF
  2. World Bank
  3. Assistance To Pakistan Forum
  4. Pakistan Development Forum
Answer: d
335: The Ratio Of Males And Females Population Of Pakistan Is Equal In:
  1. Quetta
  2. Peshawar
  3. Lahore
  4. Rawalpindi
Answer: d
336: United Nations World Food Programme Commenced Its Operation In Pakistan During:
  1. 1963
  2. 1965
  3. 1968
  4. 1972
Answer: c
337: The Country With Highest Ratio Of Urban Population In South Asia Is:
  1. India
  2. Sri Lanka
  3. Pakistan
  4. Nepal
Answer: c
338: The Government Of Pakistan Has Given Certain Incentives To Farmers For Growing Black Tea On Experimental Basis At:
  1. Peshawar
  2. Mardan
  3. Mansehra
  4. D.G Khan
Answer: c
339: In Which Of The Following Country, Population Growth Rate Is Lowest?
  1. Japan
  2. India
  3. Sri Lanka
  4. Indonesia
Answer: a
340: In Which Of The Following Country, The Population Growth Rate Is Lowest?
  1. Pakistan
  2. China
  3. Indonesia
  4. Bangladesh
Answer: b
341: The Largest Population Density Is In:
  1. Pakistan
  2. Bangladesh
  3. India
  4. Sri Lanka
Answer: b
342: The World's Population Has Now Reached On:
  1. 6 Billion
  2. 8 Billion
  3. 9 Billion
  4. 10 Billion
Answer: a
343: The Study Of Science Of Population Is Called :
  1. Geography
  2. Demography
  3. Plutocracy
  4. Sociology
Answer: b
344: The 5th National Census Recorded The Total Population Of Punjab With Annual Growth Rate Of :
  1. 47.292 Million -2.51%
  2. 72.585 Million -2.01%
  3. 73.585 Million -2.61%
  4. 63.433 Million -3.01%
Answer: b
345: The Population Growth Rate In The Country Is:
  1. 2.01%
  2. 2.61%
  3. 3.01%
  4. 3.61%
Answer: b
346: Identify The Total Percentage Of Population In The Country,having Access To Safe And Clean Water Supply.
  1. 40%
  2. 52%
  3. 59%
  4. 68%
Answer: c
347: The Population Density In Punjab Per Square Kilometer Is Approximately : (persons)
  1. 353
  2. 480
  3. 590
  4. 882
Answer: a
348: Identify The Member Of G-8 Organization, Which Will Provide 300 Million US Dollars To Pakistan In 1999 For Certain Development Projects?
  1. America
  2. United Kingdom
  3. Germany
  4. Japan
Answer: d
349: In The Total Population Of Pakistan, The Percentage Of Income Tax Payers Is Only :
  1. 1.05%
  2. 1.75%
  3. 2.01%
  4. 3.4%
Answer: a
350: What Do You Understand By The Term Deflation?
  1. Excess Circulation Of Money, Causing Dearness Of Goods
  2. Increase In Interest Rates Diverts Money Into Savings And Reduce Circulation Of Money Causing Prices To Fall.
  3. Devaluation Of Local Currency To The Larger Extend.
  4. Decline In Remittances From Abroad, Causing Economic Hardships For The Government
Answer: b
351: The Maximum Number Of Persons Populated In One Square Kilometer Of Area Are In:
  1. Punjab
  2. Sindh
  3. N.W.F.P.
  4. Islamabad
Answer: d
352: The Minimum Number Of Persons Populated In One Square Kilometer Of Area Are In:
  1. Islamabad
  2. FATA
  3. Balochistan
  4. N.W.F.P.
Answer: c
353: In The Total Population Of Pakistan, The Share Of Punjab Province Is Approximately :
  1. 50%
  2. 55%
  3. 60%
  4. 62%
Answer: c
354: In The Total Population Of Pakistan, The Share Of Balochistan Is Approximately :
  1. 3%
  2. 5%
  3. 7%
  4. 9%
Answer: b
355: Hydel Power Stations Of `WAPDA' Are Generating Electricity Approximately:
  1. 3500 Mw
  2. 4250 Mw
  3. 4880 Mw
  4. 5200 Mw
Answer: b
356: The Total Demand Of Power (electricity) In The Country At Present Is Approximately:
  1. 7000 Mw
  2. 9000 Mw
  3. 12000 Mw
  4. 14000 Mw
Answer: b
357: In Which Of The Following Districts, The Government Of Pakistan Has Given Incentives Package To Farmers For Growing Black Tea On Experimental Basis?
  1. Rawalpindi
  2. Mardan
  3. Mansehra
  4. Noshki
Answer: c
358: UNESCO Required One Country Must Spend At Least One Percent Of Its GDP On Science And Technology But Pakistan Is Spending Only:
  1. 0.02%
  2. 0.05%
  3. 0.07%
  4. 0.08%
Answer: a
359: In Which Division Of Punjab, The Ratio Of Males And Females Is Equal?
  1. Bahawalpur
  2. Faislabad
  3. Lahore
  4. Rawalpindi
Answer: d
360: Which Of The Continents Has The Lowest Population Growth Rate?
  1. Asia
  2. Australia
  3. North America
  4. Europe
Answer: d
361: With The Present Population Growth Rate, Pakistan Would Become World's 3rd Most Populated Country By The Year:
  1. 2020
  2. 2025
  3. 2030
  4. 2050
Answer: d
362: In Which Division Of Punjab, The Ratio Of Females In Population Is 10% More Than Males?
  1. Multan
  2. D.G Khan
  3. Gujranwala
  4. Lahore
Answer: d
363: Which Is The Most Urbanized Division Of Punjab?
  1. Multan
  2. Rawalpindi
  3. Sargodah
  4. Lahore
Answer: d
364: In The Ten (10) Most Populated Cities Of Pakistan, Sialkot Is On Number :
  1. Four
  2. Six
  3. Seven
  4. Nine
Answer: d
365: In The Ten Most Populated Cities Of Pakistan, Rawalpindi Is On Number:
  1. Three
  2. Four
  3. Five
  4. Six
Answer: b
366: Which Region Of Punjab Is Free From Water-logging Problem?
  1. Gujranwala
  2. Lahore
  3. Rawalpindi
  4. Multan
Answer: c
367: What Is The Main Reason Of The Flour Crisis In The Country?
  1. Wheat Sowing Area Has Been Replaced With Sugar Cane Crop By The Farmers.
  2. A Large Portion Of Wheat Crop Has Been Damaged By Pests.
  3. Smuggling Of Wheat Flour To Other Country
  4. None Of The Above
Answer: c
368: Identify The Length Of Islamabad-Peshawar Section Of Motorway:
  1. 96 Km
  2. 133 Km
  3. 144 Km
  4. 154 Km
Answer: d
369: Which Division Of Punjab Produces Maximum Wheat Crop?
  1. Bahawalpur Division
  2. Faislabad Division
  3. Lahore Division
  4. Multan Division
Answer: d
370: Rawal And Hajveri Are The Two Varities Of One Of The Following Crops.
  1. Rice
  2. Cotton
  3. Soyabean
  4. Wheat
Answer: b
371: The Share Of Cotton Crop In The Total Cropped Area Of Punjab Is Approximately.
  1. 16.0%
  2. 18.0%
  3. 25.0%
  4. 39.0%
Answer: a
372: Which Division Of The Punjab Produces Maximum Sugarcane Crop?
  1. Faisalabad
  2. Bahawalpur
  3. Gujranwala
  4. Multan
Answer: a
373: Out Of Total Wheat Production In Pakistan, Punjab Contributes Around :
  1. 65%
  2. 73%
  3. 79%
  4. 83%
Answer: b
374: The Largest Portion Of Saline Area Of Land In Punjab Is In:-
  1. Faisalabad Divisional
  2. D.G Khan Division
  3. Multan Division
  4. Bahawalpur Division
Answer: d
375: The Total Area Pakistan Has Under Forestation Is Estimated At:
  1. 5,062 Million Acres
  2. 8,095 Million Acres
  3. 9,900 Million Acres
  4. 12,300 Million Acres
Answer: b
376: National Income Is The Sum Of:
  1. Income Of All The Rich People Of The Country
  2. Income Of All Industrialists Of The Country
  3. Income Of All The Agriculturists In The Country
  4. Income Of All The People In The Country During A Year
Answer: d
377: G.D.P(Gross Domestic Product) Is The Value Of All Goods And Services:
  1. Produced In The Country With Foreign Resources During A Year
  2. Produced Within The Geographical Boundaries Of A Country During A Year
  3. Produced By The Factors Belonging To The Country Working In Or Outside The Country
  4. None Of The Above
Answer: b
378: G.N.P(Gross National Product) Is The Total Value Of Goods And Services:
  1. Produced In A Country With Domestic Or Foreign Factors
  2. Produced By The Factors Belonging To The Country Working In Or Out Of The Country
  3. Produced By The Factors Belonging To The Country Working Abroad
  4. None Of The Above
Answer: b
379: National Income Is Essentially Composed Of:
  1. Annual Income Of Central Government
  2. Total Wealth Of A Nation
  3. Income Derived From Taxes By The Central Government
  4. Annual Income Of Citizens Of A Country
Answer: b
380: Which Of The Following Of Punjab Has The Lowest Population Density?
  1. Rajanpur
  2. Bahawalpur
  3. Layyah
  4. D.G Khan
Answer: a
381: National Income Is Essentially Composed Of:
  1. All Wealth Of A Nation
  2. Annual Income Of The Central Government
  3. All Incomes Of The People Of The Country In A Year
  4. Income Derived From Taxes By The Central Government
Answer: c
382: The Value Of The Vegetables A Retired School Teacher Grows In His Lawn Is Excluded From The Calculation Of National Income Because:
  1. Retired Person's Activities Are Not Included In Calculating National Income
  2. The Goods Are Not Exchanged Through The Market Mechanism
  3. It Would Involve Double Counting
  4. There Is No Way Of Imputing The Value Of Such Goods.
Answer: d
383: Which Of The Following Activity Will Be Considered As Investment?
  1. Construction Of A New House
  2. Purchasing A Newly Floated Share Of A Joint Stock Company
  3. Building A New Factory
  4. All The Above
Answer: d
384: Real National Income Increases If:
  1. Volume Of Goods And Services Increases
  2. Prices Of Goods And Services Increase
  3. Consumer's Real Income Decrease
  4. None Of The Above One
Answer: a
385: Identity The False Statement Among The Followings:
  1. If Prices Rise, Real Income Also Rises
  2. In Calculating National Income, Retirement Pension Are Excluded
  3. Stock Of Goods Not Sold By The Producer, Is Excluded From GNP
  4. None Of The Above One
Answer: a
386: Per Capita Income Is:
  1. Average Income Of The Working Class
  2. Average Income Of The People Of A Country During A Year
  3. Average Income Of Labourers Only
  4. None Of The Above One
Answer: b
387: Which Of The Following Is A Real Cause For Low Per Capita Income Of Pakistan?
  1. There Is Lack Of Natural Resources
  2. These Is Over-population
  3. Unfavourable Climatic Conditions
  4. All Of The Above
Answer: d
388: Economic Development Means:
  1. Increase In Agricultural Production Of A Country
  2. Increase In Mineral Resources Of The Country
  3. Increase In Real National Income And Standard Of The Living Of The People Of Country
  4. Increase In Consumption Expenditure Of The Country
Answer: c
389: Which Of The Following Statement Is False?
  1. Economic Development Is A Process Whereby An Economy Real National Income Increases Over A Long Period Of Time
  2. Economic Development Is Measured By The Rate Of Population Increases
  3. As A Result Of Economic Development Of A Country, The Share Of Industrial Sector In The National Income Increases
  4. Per Capita Income Is A Better Measure Of Economic Development Than The National Income.
Answer: b
390: Which Of The Changes Below Is Most Likely To Lead Directly To An Increase In The Income Growth Rate?
  1. An Increase In Wages
  2. An Increase In Interest Rates
  3. An Increase In The Balance Of Payments Deficit
  4. An Increase In Capital Investment
Answer: d
391: Economic Planning Means:
  1. Planning Family Size By Limiting The Number Of Children
  2. Making Decisions As To What Is To Be Produced, How When And Where It Is To Be Produced And To Whom It Is To Be Allocated On The Basis Of Comprehensive Survey Of The Economic System As A Whole
  3. Planning To Increase Agricultural And Industrial Production
  4. None Of The Above
Answer: b
392: How Much Of GDP Is Spent On Agricultural Research In Pakistan?
  1. 0.02 Percent
  2. 0.6 Percent
  3. 1.5 Percent
  4. 1.9 Percent
Answer: c
393: 11 July Every Year Is Being Celebrated Under United Nations As 'World Population Day' Since:
  1. 1985
  2. 1987
  3. 1989
  4. 1991
Answer: b
394: The Main Reason Why Cheques Can Be Regarded As Money Is That:
  1. They Are Accepted By Most People
  2. They Act As Receipts
  3. They Can Be Written For Any Amount
  4. They Can Be Sent Safely By Post
Answer: a
395: Of All Methods Of Payment, The Recognized Legal Tender Is:-
  1. Cheques
  2. Bank Notes/metalic Coins
  3. Bills Of Exchange
  4. Promissory Notes
Answer: b
396: Token Coins Are:
  1. Not Legal Tender
  2. Valueless
  3. Worthless Than The Value Of The Metal They Contain
  4. Worth More Than The Value Of The Metal They Contain
Answer: a
397: Who Issues One-rupee Coin In Pakistan?
  1. Government Of Pakistan
  2. State Bank Of Pakistan
  3. Both Of The Above
  4. None Of The Above
Answer: a
398: Who Issue Two-rupee Note In Pakistan?
  1. Government Of Pakistan
  2. State Bank Of Pakistan
  3. Both Of The Above
  4. None Of The Above
Answer: b
399: Who Issue Ten-rupee Note In Pakistan?
  1. Government Of Pakistan
  2. State Bank Of Pakistan
  3. Both Of The Above
  4. None Of The Above
Answer: b
400: Which Of The Following Statement Is True?
  1. In Barter System, Goods Are Exchanged With Goods
  2. Token Money Has Its Face Value Equal To The Value Of The Metallic Content
  3. One Rupee Note Is Convertible Paper Money
  4. Silver And Gold Full-bodied Coins Circulated These Days.
Answer: a
401: Which Of The Following Statement Is True?
  1. Only The Person In Whose Favour A Bearer Cheque Is Written Can Cash This Cheque
  2. Crossed Cheque Can Be Got Cashed By Any One
  3. Order Cheque Can Be Got Cashed On Identification
  4. If The Money Unit Is Not Scarce, It Ceases To Be Used As Money.
Answer: c
402: Which Of The Following Statement Is False?
  1. There Is No Difference In Bearer And Order Cheque
  2. Payment Of Bill Of Exchange (sight) Is Made Immediately
  3. Pakistan Has A Strong Stock Exchange Market
  4. A Cheque Is A Form Of Currency Note
Answer: a
403: By Value Of Money Is Meant?
  1. Power Of A Good To Command Other Things In Exchange
  2. Power Of Money To Command Goods And Services In Exchange
  3. Power Of A Currency Note To Command Coins In Exchange
  4. Power Of Money To Command Foreign Currency.
Answer: b
404: According To Tausing:
  1. Double The Quantity Of Money And Other Things, Being Equal, The Prices Will Be Twice As High As Before And Value Of Money One Half
  2. Double The Quantity Of Money And Value Of Money Will Double
  3. Double The Quantity Of Money And Other Things Remaining The Same The Prices Will Be Half Of What They Were Before And Value Of Money Will Be Double As Before
  4. None Of The Above
Answer: a
405: Inflation Means That Money:
  1. Rises In Value
  2. Falls In Value
  3. Become Scarce
  4. Becomes Larger In Denomination
Answer: b
406: Inflation May Be Defined As:
  1. Rapidly Increasing Prices In A Certain Sector Or Industry
  2. A Temporary Increases In The Prices Of Several Goods
  3. A General And Consistent Increase In Prices In An Economy
  4. Too Little Money Choosing Too Many Goods
Answer: b
407: Which Of The Following Statement Is True?
  1. Devaluation Causes An Increase In The Value Of Money
  2. Fixed Income Groups Are Benefited By Increase In Prices
  3. A Decrease In Production Brings A Decrease In The Value Of Money
  4. None Of The Above
Answer: c
408: Which Of The Following Groups Is Most Likely To Benefit From Inflation?
  1. Exporters
  2. Debtors
  3. Pensioners
  4. Creditors
Answer: b
409: Which Of The Following Must Be A Result Of Inflation?
  1. Higher Interest Rates
  2. A Rise In The Exchange Rate
  3. An Increase In The Value Of Money
  4. A Reduction In The Value Of Money
Answer: d
410: Can Money Perform The Following Functions?
  1. To Compare The Value Of Goods
  2. To Act As Medium Of Exchange
  3. Both Of The Above
  4. None Of The Above
Answer: c
411: Which Of The Following Will Be Described As Cost Push Inflation?
  1. An Increase In Imported Oil Prices
  2. An Increase In Money Supply
  3. An Increase In Unemployment Allowances
  4. A Reduction In Income Tax.
Answer: c
412: Which Of The Following Statement Is False?
  1. Inflation Brings An Increase In Production
  2. Inflation Makes Savings Increase
  3. The Main Cause Of Inflation In Pakistan Is Deficit Financing And Excessive Increase In Money Supply
  4. None Of The Above
Answer: b
413: Will The Following Benefit In Real Terms During A Period Of High And Rising Inflation:
  1. Someone Who Hoards Money
  2. Someone Whose Income Comes From Securities With A Fixed Rate Of Interest
  3. Some One Who Owes Money And Is Repaying The Debt
  4. None Of The Above
Answer: c
414: A Stock Exchange Is:
  1. A Central Market For Buying And Selling All Kind Of Goods
  2. A Place Where Any Businessman Can Borrow Money From The Members
  3. A Place Where A Register Is Kept Of All Public And Private Limited Companies
  4. A Central Market For Buying And Selling All Kinds Of Securities
Answer: d
415: Which One Of The Following Is Not A Function Of A Commercial Bank?
  1. Acting As Banker To The State
  2. Managing Government Borrowings
  3. Controlling The Money Supply
  4. All Of The Above
Answer: d
416: The World's Most Populous City:
  1. Mexico
  2. Beijing
  3. Kolcatta
  4. Tokyo
Answer: d
417: In Asia, The Highest Density Of Population (5516 Persons Per Sq.km.) Was Recorded In:
  1. Singapore
  2. Bangladesh
  3. India
  4. North Korea
Answer: a
418: Which Of The Following Is Regarded As A Liability By Choosing Banks?
  1. Overdrafts
  2. Personal Loans
  3. Money At Call
  4. Deposits Of Customers
Answer: d
419: Which Of The Following Policies Would Be Most Appropriate For The State Bank Of Pakistan To Follow If It Wished To Make It More Difficult For The Commercial Banks To Grant Loans?
  1. Buying Long-term Securities In The Open Market
  2. Raise The Percentage Of Special Deposits Required
  3. Reduce The Liquidity Ratio
  4. Borrow Through Treasury Bills Rather Than Long Term Bonds
Answer: d
420: Which Of The Following Items In The Balance Of Payments Accounts Are Invisible?
  1. Aviation
  2. Tourism
  3. Interest, Profits And Dividends
  4. All Of The Above
Answer: d
421: Free Trade Means:
  1. No Restriction On The Movement Of Goods From One Part Of The Country To The Other
  2. No Ban On The Import Or Export Of A Commodity Between Countries
  3. Goods Exchange Between Countries With Out Any Currency
  4. None Of The Above
Answer: b
422: Protection Means:
  1. Safeguard Of Goods And Services Of A Country From Being Spoiled At The Time Of Export
  2. Safeguard Of Assets Of A Country From Being Destroyed By Military Attack
  3. Policy Of A Country To Discourage Import Of Certain Commodities So As To Save The Domestic Industries From Competition With Foreign Firms
  4. None Of The Above
Answer: c
423: Which Of The Following Is Not True?
  1. Tariffs Can Help New Industries To Become Established
  2. Tariffs May Divert Demand To Home Industry And So Encourage Employment
  3. Tariffs Encourage Home Industries To Become More Efficient
  4. All Of The Above
Answer: a
424: Which Of The Following Is False Statement?
  1. There Is No Difference Between Balance Of Payment And Balance Of Trade
  2. Balance Of Trade Is Also Known As Balance Of Visible Trade
  3. Balance Of Repayment Consists Of Three Accounts Namely Current Account, Capital Account And Monetary Account
  4. All Of The Above
Answer: a
425: A Country's Visible Balance Is The Difference Between The:
  1. Volume Of Goods Imported And Exported
  2. Value Of Capital Goods Exported And Imported
  3. Volume Of Consumer Goods Imported And Exported
  4. Value Of Goods Imported And Exported
Answer: d
426: Which Of The Following Items Are Not Exports Of Pakistan?
  1. Wheat
  2. Sports Goods
  3. Both Of The Above
  4. None Of The Above
Answer: c
427: Which Of The Following Is Not Pakistan's Major Imports?
  1. Petroleum
  2. Machinery
  3. Surgical Goods
  4. Tea
Answer: c
428: Which Of The Following Statement Is Not False?
  1. Pakistan's Balance Of Payments Is Mostly Favourable
  2. Terms Of Trade Of Pakistan Are Favourable
  3. Devaluation Makes The Exports To Increase
  4. Pakistan Imports Cotton And Exports Wheat
Answer: c
429: Which Of The Following Statement Is False?
  1. Public Finance And Private Finance Differ From Each Other In Many Respects
  2. In Private Finance, Expenditure Is First Estimated And Then Resources Are Made Available To Meet This Expenditure
  3. Budget Period For The Public Finance Is One Year
  4. Resources In Both Public And Private Finance Are Limited In Relation To Demand For Expenditure
Answer: b
430: Which Of The Following Is Not Correct?
  1. Tax Is A General Purpose Compulsory Contribution
  2. Tax Payment Is Optional
  3. A Tax Payment Cannot Claim A Direct Service In Lien Of Tax
  4. None Of The Above
Answer: b
431: Taxes Which May Be Shifted From The Person Upon Whom They Are Originally Imposed To Another Person Are:
  1. Special Taxes
  2. Double Taxes
  3. Proportional Taxes
  4. Indirect Taxes
Answer: d
432: Sales Tax Is Ultimately Paid By:
  1. The Shopkeepers
  2. The Producers
  3. The Customers
  4. The Wholesalers
Answer: c
433: An Example Of Indirect Tax Is:
  1. Corporation Tax
  2. Income Tax
  3. Rates
  4. Tobacco Tax
Answer: d
434: Which Of The Following Is True Statement?
  1. Income Tax Is A Progressive Tax
  2. Excise Duty Is An Indirect Tax
  3. Wealth Tax Is A Direct Tax
  4. All Of The Above
Answer: d
435: A Budget Is Best Described As:
  1. A List Of Expenditure Made During The Previous Year
  2. An Estimate Of Expected Income And A Plan For Expenditure
  3. A Means Of Raising Money For Necessary Expenditure
  4. A Plan For Purchasing The Best Quality Goods At The Lowest Prices
Answer: b
436: A Budget Of Deficit Is One:
  1. Where Public Spending Is Less Than The Amount Of Revenue
  2. Where Public Spending Is Greater Than The Amount Of Revenue
  3. Where Public Spending Is Equal To The Amount Of Revenue
  4. Where The Budget Leaves Most Tax Payers With Less Disposable Income
Answer: b
437: Which Of The Following Measures Would The Government Take To Finance Its Borrowing Requirements?
  1. Sell Government Securities
  2. Sell Bills Of Exchange
  3. Sell Ordinary Shares
  4. Buy Treasury Bills
Answer: a
438: Which Of The Following Is False Statement?
  1. Federal Government Receives Land Revenue
  2. Motor Vehicles Tax Is Received By Federal Government
  3. Court Fees Are Received By Federal Government
  4. All Of The Above
Answer: d
439: In A Fully Planned Economy, Who Decided What Would Be Produced:
  1. Private Entrepreneurs Only
  2. Government Only
  3. Consumers Only
  4. The Government In Public Enterprise And Private Entrepreneurs In Private Enterprises
Answer: b
440: Which Of The Following Is/are Characteristics Of Mixed Economics?
  1. Subsidies For Some Industries
  2. The Operation Of The Market Economy In Parts Of The Economy
  3. Government Control Of Some Industries
  4. All The Above
Answer: d
441: Which Of The Following Is/are True For A Capitalist Society?
  1. People Have The Right To Own Private Property
  2. There Is Freedom Of Enterprise
  3. Freedom Of Choice For The Consumers
  4. All Of The Above
Answer: d
442: Which One Of The Following Arguments Can Be Used In Favour Of The Market Economy?
  1. It Guarantees Full Employment Of Labour
  2. It Leads To Equality Of Wealth
  3. It Allows The Government To Plan Investment In Each Industry
  4. All Of The Above
Answer: a
443: Pakistan's Largest Export Market Is:
  1. USA
  2. Germany
  3. Japan
  4. Saudi Arabia
Answer: a
444: Which Of The Following Programmes Was Financially Supported By UNICEF In Pakistan During 1982-1986?
  1. To Reduce Infant Mortality
  2. To Reduce Maternal Mortality
  3. To Double The Literacy Rate Among Women
  4. All Of The Above
Answer: d
445: Under A Capitalist System, The Economic Problem Of What Goods Shall Be Produced Is Solved Primarily By:
  1. People Advertising Their Wants
  2. Direction By The Government
  3. The Pattern Of Consumer's Spending
  4. People Producing Directly To Satisfy Their Own Wants
Answer: c
446: The World's Most Populous City Is:
  1. Mexico City
  2. Beijing
  3. New York
  4. Tokyo
Answer: d
447: Pakistan's Biggest And Most Powerful Radio Station' Is:
  1. Islamabad
  2. Lahore
  3. Karachi
  4. Peshawar
Answer: a
448: One Advantage For The Capitalist System For Allocating Resources In Economy Is That It:
  1. Avoids Unemployment
  2. Reduces Inequality Of Incomes
  3. Affords The Fullest Opportunity For Individuals To Indicate Their Preferences For Goods Within The Limits Of Their Spending Power
  4. Always Results In Goods Being Produced At The Lowest Possible Cost.
Answer: c
449: Which Of The Following Countries Could Most Aptly Be Described As Having A Fully Centrally Planned Economy?
  1. U.K.
  2. U.S.A.
  3. Former U.S.S.R.
  4. Germany
Answer: c
450: Which Of The Following Statement Is True?
  1. Most Of The Developing Countries Like Pakistan Have Planned Economies
  2. In A Market Economy, There Is Most Equal Distribution Of Income
  3. In A Mixed Economy, The Government Interferes With The Price System To Overcome Its Disadvantages
  4. In A Centrally Planned Economy, Society Will Always Get The Goods It Wants.
Answer: c
451: In Punjab, The Lowest Density Of Population Is In:
  1. Multan Division
  2. Rawalpindi Division
  3. Bahawalpur Division
  4. D.G Khan Division
Answer: c
452: Which Of The Following Is A Cash Crop?
  1. Wheat
  2. Rice
  3. Cotton
  4. None Of The Above
Answer: c
453: Which Of The Characteristics Of Islamic Economic System Is/are True?
  1. An Islamic State Is Essentially A Welfare State
  2. Ensures Social Justice
  3. All Economic Problems Are Solved In The Light Of Moral Values
  4. All Of The Above
Answer: d
454: Zakat Is A Charity On:
  1. Wealth/income Which Stays With A Muslim For At Least One Year
  2. Levied On A Muslim Who Is Sahib-e-Nisab
  3. Deducted At The Rate Of 2 ½ % Of The Income
  4. All Of The Above
Answer: d
455: Which Of The Following Is Correct? A Sahib-e-Nisab Is A Person Who Owns:
  1. 7 ½ Tolas Of Gold Or 52 ½ Tolas Of Silver
  2. Trading Goods Or Cash Equal To 7 ½ Tolas Of Gold Or 52 ½ Tolas Of Silver.
  3. 5 Camels Or 30 Cows (buffaloes) Or 40 Sheep (goats)
  4. All Of The Above
Answer: d
456: In Islam, Absolute Ownership Of Property Lies Only With:
  1. Allah
  2. Government
  3. Owner Of The Property
  4. Both Government And Owner
Answer: a
457: Which Of The Following Statement Is Wrong?
  1. Islamic Economic System Allows The Use Of Only Halal Things
  2. Islamic Laws Cannot Be Changed By Majority Decision
  3. Islamic Economic System Brings An End To Exploitation Of Labour
  4. None Of The Above
Answer: d
458: From Which Of The Following Countries, Pakistan Received The Biggest Share Of Workers Remittances During The Year 2000?
  1. UAE
  2. Kuwait
  3. Saudi Arabia
  4. USA
Answer: c
459: World Trade Organization (WTO) Was Established In 1995 With The Objective:
  1. To Promote Free Trade In The World.
  2. To Protect Intellectual Property Rights.
  3. To Remove Quota Restrictions In Foreign Trade.
  4. All Of The Above.
Answer: d
460: Agricultural Income Tax In Pakistan Will Be Levied On The Farmers With Land Holdings Of Or More Than:
  1. 30 Acres
  2. 10 Acres
  3. 6 Acres
  4. 12 ½ Acres
Answer: d
461: Which Of The Following European Country Has Not Adopted Europe Currency?
  1. Great Britain
  2. Sweden
  3. Denmark
  4. All Of The Above
Answer: d
462: Under The Constitution Of Pakistan, National Finance Commission Distribute The Amount From Federal Taxes To Provinces On The Basis Of:
  1. Area
  2. Population
  3. Natural Resources
  4. Equality
Answer: b
463: According To A UN Report, The Number Of Hungry People (starving To Death) In The World Stands At:
  1. 600 Million
  2. 800 Million
  3. 700 Million
  4. 500 Million
Answer: b
464: Kohat Tunnel Project Is Being Completed With The Financial Aid Of:
  1. Japan
  2. China
  3. Turkey
  4. USA
Answer: a
465: 'Mukran Coastal Highway' Project Is Being Completed With The Assistance Of:
  1. Japan
  2. Canada
  3. China
  4. U.K.
Answer: c
466: Which Is The Highest Economic Decision Making Organ In Pakistan?
  1. National Finance Commission
  2. Ministry Of Economic Affairs
  3. National Economic Council
  4. None Of The Above
Answer: c
467: What Is 'Jingoism'?
  1. Political Philosophy Of State Control Over All Means Of Production
  2. Injustice Done To The Poor Segment Of Society
  3. Extreme Nationalism And Patriotism
  4. Promotion Of Peace In The World
Answer: c
468: Which Of The Following 'Gemstones' Is Found In Pakistan?
  1. Lapis Lazuli
  2. Topaz
  3. Ruby
  4. All Of The Above.
Answer: d
469: Which Of The Following Mobile Phone Company Is In Private Sector?
  1. Mobilinks
  2. Paktel
  3. Insta Phone
  4. All Of The Above
Answer: d
470: President General Pervaiz Musharraf Inaugurated The First Branch Of Micro Finance Bank On August 11, 2000 At:-
  1. D.G Khan
  2. Lahore
  3. Multan
  4. Jhelum
Answer: a
471: Under The Zakat Fund, The Amount Being Given To The Deserving People Is:
  1. Rs.300
  2. Rs.500
  3. Rs.600
  4. Rs.700
Answer: b
472: The Government Has Prepared A Programme To Increase The Textile Exports Of The Country By The Name Of:
  1. Textile Vision 2003
  2. Textile Promotion 2004
  3. Textile Vision 2005
  4. None Of The Above
Answer: c
473: Which Of The Following Countries Could Most Aptly Be Described As Having A Fully Centrally Planned Economy?
  1. U.K.
  2. USA
  3. Cuba
  4. 144
Answer: c
474: How Many Countries Have Joined WTO Till September 2002:
  1. 111
  2. 122
  3. 134
  4. 144
Answer: d
475: In Which Of The South Asian Countries, The Infant Mortality Rate Is Highest?
  1. Pakistan
  2. India
  3. Bangladesh
  4. Sri Lanka
Answer: a
476: 'Naryab Dam' In NWFP Is Being Constructed In The District Of:
  1. Hazro
  2. Ghazo
  3. Hangu
  4. Kohat
Answer: c
477: According To A UN Report, The Number Of People In The World Having No Access To Clean Drinking Water Are:
  1. 70.4 Million
  2. 90.2 Million
  3. 1.1 Billion
  4. 1.8 Billion
Answer: c
478: In This Passage 'gestures' Mean:
  1. Verbal Expression
  2. Looks
  3. Expressive Movements Of The Body
  4. Jesting.
Answer: c
479: Who Was Appointed Caretaker Prime Minister When National Assembly Was Dissolved On April 18, 1993?
  1. Malik Meraj Khalid
  2. Moen Qureshi
  3. Ghulam Mustafa Jatoi
  4. Balkh Sher Mazari
Answer: d
480: The Government In Pakistan Has Recently Withdrew Sales Tax On One Of The Following Items:
  1. Mobile Phone Cards
  2. Medicine
  3. Edible Oil
  4. Tea
Answer: c
481: The Demand Of Electricity Is Rising In Pakistan At The Rate Of:
  1. 14 Percent Annually
  2. 17 Percent Annually
  3. 19 Percent Annually
  4. 21 Percent Annually
Answer: b
482: Which Part Of Pakistan Has Lowest Urban Population?
  1. Islamabad
  2. Balochistan
  3. N.W.F.P
  4. FATA
Answer: d
483: Which Of The Following Countries First Introduced Paper Currency In The World?
  1. USA
  2. Greece
  3. China
  4. France
Answer: c
484: The 6th National Finance Commission Award The Share Of Provinces From The Federal Revenue Has Been Increased From 37.5 Percent To:
  1. 2002-2003
  2. 2003-2004
  3. 2004-2005
  4. 2005-2006
Answer: b
485: The World's Largest Copper Producer Is:
  1. China
  2. Chile
  3. Brazil
  4. Russia
Answer: b
486: The World's Largest Producer Of Silk Is:
  1. Malaysia
  2. Bangladesh
  3. China
  4. India
Answer: c
487: Under The 6th National Finance Commission Award The Share Of Provinces From The Federal Revenue Has Been Increased From 37.5 Percent To:
  1. 38%
  2. 39%
  3. 40%
  4. 42%
Answer: c
488: The Share From Federal Revenue Is Given To The Provinces According To Their:-
  1. Backwardness
  2. Population
  3. Area
  4. None Of The Above
Answer: b
489: Identify The World's Richest Man And His Organization:
  1. John Walton - Wal - Mart Stores - USA
  2. Bill Gates - Microsoft - USA
  3. Lawrence Ellison - Oracle - USA
  4. None Of The Above
Answer: b
490: The People Live Below The Poverty Line Earn Less Then:
  1. 1 US Dollar Daily
  2. 2 US Dollar Daily
  3. 3 US Dollar Daily
  4. 5 US Dollar Daily
Answer: a
491: Identify Pakistan's Largest Gas Fired Power Plant:
  1. Faisalabad Gas Turbine Power Plant
  2. Uch Power Plant
  3. Gomal Power Plant
  4. Malakand The Dargai Power Plant
Answer: b
492: After Independence, The First Industrial Unit Inaugurated By Quaid-i-Azam Was:
  1. Adamjee Paper Mills
  2. Valika Textile Mills
  3. Karachi Shipyard And Engineering Works
  4. Pakistan Jute Mills
Answer: b
493: An Arrangement Between A Seller And Buyer Under Which A Period Of Credit Is Allowed Before Payment Is Called:
  1. Account
  2. Advertising
  3. Asset
  4. Annuity
Answer: a
494: The Prices That Are Set By Government Rather Than By Negotiation Between A Seller And A Buyer Are Known As
  1. Market Prices
  2. Management Prices
  3. Administered Prices
  4. None Of The Above
Answer: c
495: What Is The Term For Paid Announcements To Persuade And Inform Public?
  1. Campaign
  2. Advertising
  3. Announcement
  4. Publicity
Answer: b
496: The Inefficiencies Associated With Employing A Representative To Carry Out A Task For You Rather Than Carrying It Out Yourself Are Known As In Economical Terms As
  1. Agency Cost
  2. Total Cost
  3. Running Cost
  4. None Of The Above
Answer: a
497: In Terms Of Economics A Constant Annual Payment Is Called:
  1. Asset
  2. Annuity
  3. Capital
  4. None Of The Above
Answer: b
498: The Transaction In Which The Buyer Of An Item Is Selected After A Number Of Buyers Have Made Some Willingness To Pay For That Item; Is Marked As
  1. Sale
  2. Bargaining
  3. Disposal
  4. Auction
Answer: d
499: The National Economic Self-sufficiency I.e., Exclusion From International Trade Pursued As A National Policy Is Called:
  1. Autarky
  2. Self-sufficiency
  3. Self-reliance
  4. All Of The Above
Answer: a
500: A Check Of Accounting Records Conducted By A Professional Accountant To Find Out Any Fraud Or Discrepancies Is Termed As:
  1. Audit
  2. Scrutiny
  3. Review
  4. Checking
Answer: a
501: What Is The Term For Total Sales Value Divided By The Number Of Units Sold And Thus Equals To Average Price Is?
  1. Average Cost
  2. Average Sale
  3. Average Revenue
  4. None Of The Above
Answer: c
502: The Statement Of The Wealth Of A Business Organization Or Individual On A Given Date Usually The Last Day Of The Fiscal Year Is Termed As:
  1. Balance Sheet
  2. Balance List
  3. Both Of The Above
  4. None Of The Above
Answer: a
503: What Is The Business Of Accepting Deposits And Lending Money Called?
  1. Stock Market
  2. Trading
  3. Black Market
  4. Banking
Answer: d
504: The Declaration By A Court Of Law That A Company Or Individual Is Insolvent, I.e., It Cannot Pay Its Debts On The Due Dates Is Known As
  1. Bankruptcy
  2. Penury
  3. Both Of The Above
  4. None Of The Above
Answer: a
505: The Fixed Interest Security Issued By Governments, Banks Or Other Financial Institutions Is Also Termed
  1. Bargain
  2. Bond
  3. Compact
  4. Contract
Answer: b
506: The First Class Equity Share, The Purpose Of Which Entails Little Risk In Earnings In Recession Is Called:
  1. Blue Disc
  2. Blue Chip
  3. Both Of The Above
  4. None Of The Above
Answer: b
507: Underground Economic Activity That Is Not Declared For Taxation Purposes Is Called
  1. Black Trade
  2. Black Country
  3. Black Economy
  4. Black List
Answer: c
508: A Trade Of Goods And Services In The Exchange For Other Goods Or Services Rather Than For Money Is Known As:
  1. Foreign Trade
  2. Free Trade
  3. Barter Trade
  4. Limited Trade
Answer: c
509: In An Organized Market, An Intermediary Between A Buyer And A Seller Is Called:
  1. Broker
  2. Stockbroker
  3. Commission Agent
  4. Negotiator
Answer: a
510: What Is Called If Estimate Of Income And Expenditure Are For Future As Opposed To An Account That Records Financial Transaction?
  1. Quota
  2. Allocation
  3. Budget
  4. Estimate
Answer: c
511: The Output From A Process Designed For The Production Of Some Other Product Is Called
  1. By Product
  2. Main Product
  3. Consumer Product
  4. None Of The Above
Answer: a
512: The Asset That Is Capable Of Generating Income And That Have Itself Been Produced Is Termed
  1. Credit
  2. Capital
  3. Annuity
  4. Premium
Answer: b
513: The Production Of A Commodity In Which A Higher Proportion Of Capital Is Used Is Known As
  1. Labour Intensive
  2. Capital Intensive
  3. Both Of The Above
  4. None Of The Above
Answer: b
514: The Market For Long Term Loanable Funds As Different From The Market That Deals In Short Term Loans Is Called:
  1. Capital Market
  2. Capital Stock
  3. Both Of The Above
  4. None Of The Above
Answer: a
515: The Total Amount Of Physical Capital In The Economy Or In A Firm Or Industry Is Termed As
  1. Capital Market
  2. Capital Gains
  3. Capital Stock
  4. None Of The Above
Answer: c
516: An Association Of Producers To Regulate Prices By Restricting Output And Competition Is Called
  1. Cartel
  2. Monopoly
  3. Merger
  4. None Of The Above
Answer: a
517: The Most Common Example Of An International Cartel Is The
  1. South Asian Association For Regional Corporation (SAARC)
  2. Organization Of Petroleum Exporting Countries (OPEC)
  3. Economic Commission For Europe (ECE)
  4. International Monetary Fund (IMF)
Answer: b
518: The Flow Of Money Payments To Or From A Firm Is Called 'Cash Flow' Expenditure Is Sometimes Referred To As:
  1. Gross Cash Flow
  2. Negative Cash Flow
  3. Positive Cash Flow
  4. All Of The Above
Answer: b
519: The Banker's Bank And Lender Of Last Resort Is The
  1. Commercial Bank
  2. Investment Bank
  3. Central Bank
  4. All Of The Above
Answer: c
520: A Certificate That Specifies The Country Of Origin Of An Export Or Import Is Called
  1. Certificate Of Deposit
  2. Certificate Of Origin
  3. Certificate Of Incorporation
  4. None Of The Above
Answer: b
521: The Order Written By The Drawer To A Commercial Bank Or Central Bank To Pay On Demand A Particular Sum To A Bearer Is Referred To As
  1. Pay Check
  2. Cheque
  3. Draft
  4. Money Order
Answer: b
522: A Measurement Of Unemployment Based On The Number Of People Out Of Work And Claiming Unemployment Benefits Iscalled In Terms Of Economic Theory
  1. Employment Count
  2. Claimant Count
  3. Both Of The Above
  4. None Of The Above
Answer: b
523: The Dominant Body Of Economic Thinking, Economic Method And Economic Style In The Period From 18th To 19th Century Is Termed As
  1. Modern Economics
  2. Mathematical Economics
  3. Classical Economics
  4. None Of The Above
Answer: c
524: The Economic System With Little Or No External Trade Is Called:
  1. Open Economy
  2. Autarky
  3. Close Economy
  4. All Of The Above
Answer: c
525: Privately Owned Banks Operating Cheque Current Accounts, Receiving Deposits, Taking In And Paying Out Notes And Coins And Making Loans Are Generally Called
  1. Central Banks
  2. Commercial Banks
  3. State Banks
  4. All Of The Above
Answer: b
526: A Percentage Of The Value Of A Transaction Taken By An Intermediary As Payment For His Services Is Called:
  1. Profit
  2. Commission
  3. Percentage
  4. Fee
Answer: b
527: In Economic Theory, A Tangible Good Or Service Resulting From The Process Of Production Is Known As
  1. Product
  2. Article
  3. Commodity
  4. Item
Answer: c
528: Which Of The Following Is An Example Of Common Market?
  1. European Union
  2. Mercosur
  3. Andean Pact
  4. All Of The Above
Answer: d
529: The Law Governing The Establishment And Conduct Of Incorporated Business Enterprise Is Called
  1. Civil Law
  2. Natural Law
  3. Company Law
  4. Cyber Law
Answer: c
530: The Profits Retained In The Business And Set Aside For Specified Purposes Are Known As
  1. Company Shares
  2. Company Assets
  3. Company Reserves
  4. Company Gains
Answer: c
531: Pairs Of Goods For Which Consumption Is Interdependent E.g.,cars And Petrol Or Cups And Saucers Are Known As:
  1. Complementary Goods
  2. Finished Goods
  3. Both Of The Above
  4. None Of The Above
Answer: a
532: The Interest Due By Applying The Rate To The Sum Of The Capital Invested Plus The Interest Previously Earned And Reinvested Is Referred To As
  1. Simple Interest
  2. Compound Interest
  3. Both Of The Above
  4. None Of The Above
Answer: b
533: Short-term Loans To The Public For The Purchase Of Specific Goods Is Called:
  1. Commercial Credit
  2. Public Credit
  3. Consumer Credit
  4. None Of The Above
Answer: c
534: An Economic Good Or Commodity Purchased By Households For Final Consumption Is Called:
  1. Consumer Good
  2. Consumption Good
  3. Final Good
  4. All Of The Above
Answer: d
535: An Index (index Number) Of The Prices Of Goods And Services Purchased By Consumers To Measure The Inflation Rate Or The Cost Of Living Is Called
  1. Consumer Price Index
  2. Retail Price Index
  3. Both Of The Above
  4. None Of The Above
Answer: c
536: The Use Of Resources To Satisfy Current Needs And Wants Is Called:
  1. Depletion
  2. Dissipation
  3. Consumption
  4. Destruction
Answer: c
537: A Statement Of The Rights And Obligations Of Each Party To A Transaction Or Transactions Is Called:
  1. Treaty
  2. Compact
  3. Contract
  4. Covenant
Answer: c
538: A Business Function Concerned With The Formulation Of Long Term Objectives And The Development Of Plans To Achieve Them Is Called:
  1. Business Planning
  2. Corporate Planning
  3. Both Of The Above
  4. None Of The Above
Answer: b
539: A Piece Of Paper Entitling The Owner To Money Payments, Cutprice Or Free Goods Or Rations Is Called
  1. Cheque
  2. Note
  3. Coupon
  4. Bond
Answer: c
540: A Measure Of The Expectation Of The Population That The Government, Or Monetary Authorities Will Adhere To Policies Delivering Low Inflation Is Called
  1. Credibility
  2. Faith
  3. Integrity
  4. None Of The Above
Answer: a
541: Credit Is The Use Or Possession Of Goods Without Immediate Payment.Which Of The Following Is A Type Of Credit?
  1. Consumer Credit
  2. Bank Credit
  3. Trade Credit
  4. All Of The Above
Answer: d
542: A Plastic, Personal Magnetized Card With The Name And Account Number Of The Holder And The Expiry Date Embossed Is Referred To As:
  1. Master Card
  2. Visa Card
  3. Credit Card
  4. Green Card
Answer: c
543: One To Whom An Amount Of Money Is Due Is Called:
  1. Creditor
  2. Debtor
  3. Both Of The Above
  4. None Of The Above
Answer: a
544: Which Of The Following Is Referred To As International Currency Because It Is Regarded As Acceptable For The Settlement Of International Debts?
  1. Yen
  2. Dollar
  3. Rupee
  4. Dinar
Answer: b
545: The Bank Account On Which Deposits Do Not Earn Interest,but Can Be With Drawn By Cheque At Any Time Is Called:
  1. Demand Account
  2. Current Account
  3. Fixed Account
  4. Profit And Loss Account
Answer: b
546: Prices Unadjusted For Changes In The Purchasing Power Of Money Are Called:
  1. Historic Prices
  2. Current Prices
  3. Market Prices
  4. None Of The Above
Answer: b
547: The Practice Of Searching For Correlation In Data With The Purpose Of Generating Theoretical Hypotheses Is Called
  1. Data Collection
  2. Data Communication
  3. Data Mining
  4. Data Compression.
Answer: c
548: A Cartel Is An Organization Formed By Producers. Its\r\nObjectives Are:
  1. To Allocate Market Shares
  2. To Control Production
  3. To Regulate Prices
  4. All Of The Above
Answer: d
549: A Loss In Social Welfare Deriving From A Policy Or Action That Has No Corresponding Gain Is Called:
  1. Deadweight Waste
  2. Deadweight Loss
  3. Both Of The Above
  4. None Of The Above
Answer: b
550: The Number Of Deaths Occurring In Any Year For Every 1000 Of The Population Is Referred To As
  1. Death Ratio
  2. Death Rate
  3. Both Of The Above
  4. None Of The Above
Answer: b
551: A Sum Of Money Or Other Property Owed By One Person Or Organization To Another Is Called
  1. Credit
  2. Debt
  3. Obligation
  4. All Of The Above
Answer: b
552: One Who Owes Money To Another Is Known As
  1. Creditor
  2. Debtor
  3. Both Of The Above
  4. None Of The Above
Answer: b
553: The Rebate Or Discount Where Ordinary Share On A Purchase That Is Accumulated For A Particular Period To Encourage Customers To Remain With A Specific Supplier Is Called:
  1. Deferred Rebate
  2. Aggregated Rebate
  3. Both Of The Above
  4. None Of The Above
Answer: c
554: The Excess Of An Expenditure Flow Over An Income Flow Is Termed As:
  1. Loss
  2. Deficit
  3. Surplus
  4. Shortage
Answer: b
555: The Use Of Borrowing To Finance An Excess Of Expenditure Over Income Is Known As:
  1. Deficit Financing
  2. Debt Retirement
  3. Both Of The Above
  4. None Of The Above
Answer: a
556: A Sustained Reduction In The General Level Of Prices Is Called:
  1. Inflation
  2. Deflation
  3. Disinflation
  4. Both B And C
Answer: d
557: A Decline In The Share Of Manufacturing Sector In National Income Is Termed As:
  1. Industralization
  2. Privatization
  3. Nationalization
  4. Deindustralization
Answer: d
558: The Desire For A Particular Good Or Service Supported By The Possession Of The Necessary Means Of Exchange To Effect Ownership Is Called:
  1. Supply
  2. Demand
  3. Loss
  4. Incentive
Answer: b
559: The Scenario That Western Countries Face A Crisis In The Next Few Decades Caused By The Aging Of Their Populations Is Termed As:
  1. Demographic Time Bomb
  2. Green House Effect
  3. Population Explosion
  4. All Of The Above
Answer: a
560: The Branch Of Economics Concerned With The Rate At Which Natural Resources Are Consumed Over Time Is Called
  1. Marxism
  2. Capitalism
  3. Depletion Theory
  4. Game Theory
Answer: c
561: Money Placed In An Account At A Financial Institution And Constituting A Claim On It Is Known As
  1. Deposit
  2. Credit
  3. Debt
  4. Hoarding
Answer: a
562: The Account With A Bank Or Other Financial Institution In Which Deposits Earn Interest And Withdraws From Which Require Notice Is Referred To As:
  1. Deposit Account
  2. Current Account
  3. Profit-Loss Account
  4. None Of The Above
Answer: a
563: The Reduction In Value Of An Asset As Reduction In The Value Of Currency Is Known As:
  1. Appreciation
  2. Devaluation
  3. Depreciation
  4. All Of The Above
Answer: c
564: A Downturn In The Business Cycle In Which There Is A Sustained High Level Of Unemployment Is Called
  1. Inactivity
  2. Depression
  3. Paralysis
  4. Decline
Answer: b
565: The Process Of Invigorating Activity In A Sector Of The Economy By Reducing The Government Controls That Have The Effect Of Creating Barriers To Entry Is Called
  1. Privatization
  2. Regulation
  3. Deregulation
  4. All Of The Above
Answer: c
566: The Reduction Of The Fixed Official Rate At Which One Currency Is Exchanged For Another In A Fixed Exchange Rate Regime Is Termed:
  1. Appreciation
  2. Depreciation
  3. Devaluation
  4. None Of The Above
Answer: c
567: Investment In The Foreign Operations Of A Company Through Acquisition Of A Foreign Operation, Or Establishment Of A New Site Is Called:
  1. Direct Investment
  2. Installation
  3. Indirect Investment
  4. None Of The Above
Answer: a
568: Taxation On The Income And Resources Of Individuals Or Organization Is Known As:
  1. Double Taxation
  2. Indirect Taxation
  3. Direct Taxation
  4. All Of The Above
Answer: c
569: A Deduction From Face Value Is Referred To As:
  1. Premium
  2. Discount
  3. Reward
  4. None Of The Above
Answer: b
570: The Extension In The Range Of Goods And Services In A Firm Or Geographic Region Is Called:
  1. Reduction
  2. Expansion
  3. Diversification
  4. Modification.
Answer: c
571: The Amount Of A Company's Profit That The Board Of Directors Decides To Distribute To Ordinary Shareholders Is Known As:
  1. Deficit
  2. Dividend
  3. Loss
  4. Capital
Answer: b
572: The Allocation Of Labour Such That Each Worker Specializes In One Or A Few Functions In The Production Process Is Known As:
  1. Division Of Labour
  2. Distribution Of Wealth
  3. Efficient Worker
  4. None Of The Above
Answer: a
573: The Situation In Which The Same Tax Base Is Taxed More Than Once Is Called:
  1. Direct Taxation
  2. Double Taxation
  3. Indirect Taxation
  4. None Of The Above
Answer: b
574: A Daily Index Of Prices On The Principal Stock Exchange In New York Is Called:
  1. Dow Jones Industrial Average
  2. Equity Market Indexl
  3. Both Of The Above
  4. None Of The Above
Answer: a
575: Large-scale Shedding Of Employees By Major Corporations Sometimes Referred To The Disposal Of Subsidiaries And Other Unwanted Activities Is Called:
  1. Downsizing
  2. Rightsizing
  3. Both Of The Above
  4. None Of The Above
Answer: c
576: Two Sellers Only Of A Good Or Service In A Market.This Situation Is:
  1. Monopoly
  2. Duopoly
  3. Oligopoly
  4. None Of The Above
Answer: b
577: Consumer Goods That Yield Services Or Utility Over Time Rather Than Being Used Up Instantly Are Termed As
  1. Durable Goods
  2. Undurable Goods
  3. Both Of The Above
  4. None Of The Above
Answer: a
578: The Setting Up Of Mathematical Models Describing Economic Relationship Testing The Validity Of Such Hypotheses Is Termed As:
  1. Econometrics
  2. Commerce
  3. Trade
  4. Finance
Answer: a
579: Any Physical Object, Natural Or Man Made, Or Service Renderal: That Could Command A Price In Market Is Called:
  1. Consumer Goods
  2. Final Goods
  3. Economic Goods
  4. All Of The Above
Answer: c
580: The Exploitation Of Developing Countries By Advanced Countries Is Called:
  1. Embargoes
  2. Sanctions
  3. Economic Imperialism
  4. None Of The Above
Answer: c
581: A Measure Taken In Respect Of Economic Activity That Has The Intention Of Damage To Another Country's Economy Is Called:
  1. Economic Exploitation
  2. Economic Sanction
  3. Both Of The Above
  4. None Of The Above
Answer: b
582: Which Sector Is The Largest And Fastest Growing Sector Of The World Economy, Providing More Than 60% Of Global Output?
  1. Agricultural Sector
  2. Service Sector
  3. Industrial Sector
  4. Forestry
Answer: b
583: The Non-discrimination Principle Means Treating One's Trading Partners Equally.It Guarantees Equal Opportunities For Suppliers From All World Trade Organization Members.It Is Called:
  1. Most-Favoured Nation (MFN)
  2. South Asian Free Trade Area (SAFTA)
  3. General Agreement On Tariffs And Trade (GATT)
  4. None Of The Above
Answer: a
584: The World Trade Organization (WTO) Is The Only International Body Dealing With The0 Rules Of Trade Between Nations.The World Trade Organization Began Life On 1st Of
  1. January 1993
  2. January 1994
  3. January 1995
  4. January 1996
Answer: c
585: The Main Objectives Of The World Trade Organization Are
  1. To Help Trade Flow As Freely As Possible.
  2. To Serve As A Form For Trade Negotiations
  3. To Settle Dispute Between Conflicting Trade Interests
  4. All Of The Above
Answer: d
586: The General Agreement On Tariffs And Trade (GATT) Is The Predecessor Of World Trade Organization.It Entered Into Force In.
  1. January 1946
  2. January 1947
  3. January 1948
  4. January 1949
Answer: c
587: In 1947 How Many States Did Take Part In The General Agreement On Tariffs And Trade Trade Round In Geneva?
  1. 13
  2. 23
  3. 33
  4. 43
Answer: b
588: The First Director General Of General Agreement On Tariffs And Trade From 1948-68 Was
  1. Sir Eric Wyndham White (UK)
  2. Mike Moore (New Zealand)
  3. Don McKinon (New Zealand)
  4. Kofi Annan (Ghana)
Answer: a
589: In 1999, Who Became The Third Director General Of World Trade Organization?
  1. Olivier Long (Switzerland)
  2. Renato Ruggiero (Italy)
  3. Peter Sutherland (Ireland)
  4. Mike Moore (New Zealand)
Answer: d
590: The General Agreement On Tariffs And Trade Trade Rounds Concentrated On Reducing Tariffs.Which Round Was The First Major Attempt To Tackle Trade Barriers And To Improve The System? This Eighth Round Is Called:
  1. Kennedy Round
  2. Tokyo Round
  3. Uruguay Round
  4. All Of The Above
Answer: c
591: Which Trade Round Was The Latest And Most Extensive Of All And It Finally Led To The World Trade Organization And A New Set Of Agreements.It Lasted From 1986 To 1994.
  1. Kennedy Round
  2. Tokyo Round
  3. Doha Round
  4. Uruguay Round
Answer: d
592: The 1986-1994 Uruguay Round Achieved Agrement On Trade-Related Aspects Of Intellectual Property Rights (TRIPS).Which Of The Following Are The Types Of Intellectual Property?
  1. Copyrights And Related Rights
  2. Trademarks Including Service Marks
  3. Industrial Design, Patents, Layout Designs Etc
  4. All Of The Above
Answer: d
593: Topmost Authority Of World Trade Organization Is The Ministerial Conference Which Has To Meet At Least Once Every
  1. 1 Year
  2. 2 Years
  3. 3 Years
  4. 4 Years
Answer: b
594: The 'Ouadrilaterals' Or The 'Quad' Are The Four Largest Members.Besides European Union Others Are
  1. United States
  2. Canada
  3. Japan
  4. All Of The Above
Answer: d
595: On 9-13 November, 2001 The World Trade Organization's Fourth Ministerial Conference Held In:
  1. Istanbul (Turkey)
  2. Dubai (U.A.E)
  3. Doha (Qatar)
  4. Tehran (Iran)
Answer: c
596: The World Trade Organization Secretariat Is Headed By A Director-general, Has Around 500 Staff And Is Based In:
  1. New York
  2. Rome
  3. Geneva
  4. Brussels
Answer: c
597: Which Of The Following Is The Website Address Of The World Trade Organization?
  1. Http://www.wto.com
  2. Http://www.wto.org
  3. Http://www.wtosecretariat.org
  4. Http://www.wtosecretariat.com
Answer: b
598: By The End Of June 2002, The World Trade Organization Had 144 Members And Around 34 Observer Governments.With How Many Years Of Becoming Observers, These Observers Must Start Accession Negotiations?
  1. 2 Years
  2. 3 Years
  3. 4 Years
  4. 5 Years
Answer: d
599: Which Law Of Economics States That With Given Preferences Or Tastes, The Proportion Of Income Spent On Food Diminishes As Income Increase?
  1. Common Law
  2. Engel's Law
  3. Newton's Law
  4. None Of The Above
Answer: b
600: The Economic Agent Who Perceives Market Opportunities And Assembles The Factors Of Production To Exploit Them In A Firm Is Referred To As
  1. Broker
  2. Entrepreneur
  3. Middle Agent
  4. Promotor
Answer: b
601: The Residual Value Of A Company's Assets After All Outside Liabilities Have Been Allowed For Is Called
  1. Capital
  2. Annuity
  3. Equity
  4. Business
Answer: c
602: Enterprise Is The Controlling Unit Of A Business.The Operating Unit Of A Business Is Called:
  1. Firm
  2. Establishment
  3. Bureaucracy
  4. Organization
Answer: b
603: The Difference Between The Amount Produced By A Firm And The Higher Amount That Could Most Efficiently Be Produced Is Termed As:
  1. Excess Profit
  2. Excess Supply
  3. Excess Capacity
  4. Excess Demand
Answer: c
604: The Control By The State Through The Banking System Of Dealings In Gold And Foreign Currencies Is Called
  1. Exchange Control
  2. Exchange Economy
  3. Autarky
  4. None Of The Above
Answer: a
605: The Price At Which One Currency Is Exchanged For Another Currency Is Known As:
  1. Exchange Control
  2. Exchange Rate
  3. Exchange Economy
  4. All Of The Above
Answer: b
606: Indirect Taxies Levied Upon Goods Produced For Home Consumption Are Called:
  1. Custom Duties
  2. Excise Duties
  3. Both Of The Above
  4. None Of The Above
Answer: b
607: Preferential Treatment For Firms That Sell Their Products Abroad, Compared With Firms That Sell To The Home Market; Is Called:
  1. Export Surplus
  2. Export Rebate
  3. Export Incentives
  4. All Of The Above
Answer: c
608: The Goods And Services Produced By One Country That Are Sold In Exchange For The Second Country's Own Goods And Services Or For Foreign Exchange Are Called
  1. Import
  2. Export
  3. All Of The Above
  4. None Of The Above
Answer: b
609: The Ratio Of The Total Increase In A Country's National Income To The Increment In Export Revenue Generating The Increase Is Called:
  1. Export Surplus
  2. Export Incentive
  3. Export Multiplier
  4. All Of The Above
Answer: c
610: Goods Which Are Produced For Consumption Rather Than As An Intermediate Product Used In The Process Of Production Are Referred To As:
  1. By Product
  2. Final Goods
  3. Durable Goods
  4. Intermediate Goods
Answer: b
611: The Provision Of Money When And Where Needed Is Called:
  1. Business
  2. Economics
  3. Finance
  4. Trade
Answer: c
612: The Period Of Account Used For Financial Purposes Is Known As:
  1. Financial Year
  2. Fiscal Year
  3. Both Of The Above
  4. None Of The Above
Answer: c
613: The Budgetary Stance Of Central Government Is Called:
  1. Trade Policy
  2. Fiscal Policy
  3. Economic Policy
  4. None Of The Above
Answer: b
614: The Capital That Is Not Invested In Fixed Assets But The Work In Process Is Called:
  1. Floating Change
  2. Floating Debt
  3. Floating Trust.
  4. Floating Capital
Answer: d
615: The Administered Transfer Of Resources From The Advanced Countries To The Developing Countries For The Purpose Of Encouraging Economic Growth Is Called:
  1. Foreign Exchange
  2. Foreign Balance
  3. Foreign Aid
  4. Foreign Reserves
Answer: c
616: Claims On Another Country Held In The Form Of The Currency Of That Country Are Known As:
  1. Foreign Aid
  2. Foreign Exchange
  3. Both Of The Above
  4. None Of The Above
Answer: b
617: What Is Meant By Foreign Investment?
  1. The Market In Which Transactions Are Conducted To Effect The Transfer Of The Currency Of One Country Into That Of Another
  2. The Transfer Of Resources From Developed To Developing Countries.
  3. The Acquistion By Governments, Institutions Or Individuals In One Country Of Assets In Another.
  4. All Of The Above
Answer: c
618: The Contractual Arrangement Under Which An Independent Franchisee Produces Or Sells A Product Or Service Under The Brand Name Of The Franchiser Is Known As
  1. Franchising
  2. License
  3. Warrant
  4. Charter
Answer: a
619: A Market In Which Supply And Demand Are Not Subject To Regulation Other Than Normal Competition Policy Is Termed:
  1. Forward Market
  2. Free Market
  3. Foreign-exchange Market
  4. None Of The Above
Answer: b
620: The Condition In Which The Independent Flow Of Goods And Services In International Exchange Is Neither Restricted Nor Encouraged By Direct Government Intervention Is Known As:
  1. Free Trade
  2. Barter Trade
  3. Both Of The Above
  4. None Of The Above
Answer: a
621: Non-wage Or Salary Rewards Provided For Employees Are Called:
  1. Fringe Benefits
  2. Basic Pay
  3. Social Security
  4. None Of The Above
Answer: a
622: The Process Of Converting Short Term To Long Term Debt By The Sale Of Long Term Securities And Using The Funds Raised To Pay Off Short-term Debt Is Called:
  1. Funding
  2. Debt Retirement
  3. Borrowing
  4. All Of The Above
Answer: a
623: The Branch Of The Social Science That Covers The Study Of The Production, Distribution And Consumption Of Wealth In Human Society Is Known As:
  1. Law
  2. Political Science
  3. Anthropology
  4. Economics
Answer: d
624: Which British Philosopher And Economist Is Regarded As 'founder Of Modern Economics'?
  1. Thomas Malthus (1766 1834)
  2. Adam Smith (1723 - 1790)
  3. Karl Marx (1818 - 1883)
  4. All Of The Above
Answer: b
625: Which Famous Thinker And Economic Philosopher Said, 'Religion Is The Opium Of The People.'?
  1. Adam Smith
  2. Thomas Malthus
  3. Karl Marx
  4. John Maynard Keynes
Answer: c
626: Who Was Awarded Nobel Prize Of Economics In 1998?
  1. Ragnar Frisch
  2. Jan Tinbergen
  3. Amartya Sen
  4. Paul Anthony Samuelson
Answer: c
627: Who Got The First Nobel Prize In Economics In 1969?
  1. Jan Tinbergren
  2. Ragnar Frisch
  3. Sir John Richard Hicks
  4. Both A And B
Answer: d
628: What Is Game Theory?
  1. The Branch Of Economics Concerned With Representing Economic Interactions In A Highly Stylized Form With Players Pays-off And Strategies
  2. The Branch Of Economics That Uses Mathematical Methods And Models E.g., Calculus: Statistics, Probabilityetc
  3. The Branch Of Economies Related With The Aggregate Or Overall, Economy.
  4. The Branch Of Economics That Deals With Small Units, Including Individual Companies And Small Group Of Consumers
Answer: a
629: A Commodity For Which Demand Increases At Higher Prices And Falls At Lower Prices Is Termed As:
  1. Consumer Goods
  2. Giffen Goods
  3. Brown Goods
  4. Durable Goods
Answer: b
630: The Geographical Shifts In Domestic Economic Activity Around The World And Away From Nation States Is Called:
  1. Foreign Trade
  2. Commerce
  3. Globalization
  4. Business
Answer: c
631: The Stocks Of Gold And Foreign Currencies Held By A Country To Finance Any Calls That May Be Made From Its Creditors For The Debt Settlement Are Known As
  1. Foreign Exchange Reserves
  2. Gold Reserves
  3. Gold And Foreign Exchange Reserves
  4. None Of The Above
Answer: c
632: The Measure Of The Total Flow Of Goods And Services Produced By The Economy Over A Specified Time Period, Normally A Year Or A Quarter Is Referred To As
  1. Gross National Product (GNP)
  2. Gross Domestic Product (GDP)
  3. Both Of The Above
  4. None Of The Above
Answer: b
633: The Currency Traded In A Foreign Exchange Market For Which Demand Is Persistently High Relative To Supply Is Called:
  1. Soft Currency
  2. Bad Currency
  3. Hard Currency
  4. Hot Currency
Answer: c
634: The Action Taken By A Buyer Or Seller To Product His Business Or Assets Against A Change In Prices Is Called
  1. Hedge
  2. Interest
  3. Shore
  4. Loan
Answer: a
635: The Theory That All Human Action Is Motivated By Pleasure And The Avoidance Of Pain Or The Ethic That It Should Be So Motivated.Such Theory Is Termed As
  1. Sadism
  2. Hedonism
  3. Satanism
  4. Spiritualism
Answer: b
636: The Accumulation Of Idle Money Balances Or Inactive Money Is Called:
  1. Wealth
  2. Hoarding
  3. Capital
  4. Investment
Answer: b
637: Funds That Flow Into A Country To Take Advantage Of Favourable Rates Of Interest In That Country Are Known As
  1. Hard Currency
  2. Hot Money
  3. Soft Currency
  4. Bad Money
Answer: b
638: The Skills And Knowledge Embodied In The Labour Force Are Termed As:
  1. Investment
  2. Labour Capital
  3. Human Resources
  4. Human Capital
Answer: d
639: What Is The Term Used For The Flow Of Goods And Services That Enter For Sale Into One Country And Which Is Product Of Another Country?
  1. Exports
  2. Imports
  3. Income
  4. Gross Domestic Product (GDP)
Answer: b
640: The Flow Of Goods Or Services To Any Economic Agent Or Unit Is Called:
  1. Income
  2. Import
  3. Export
  4. None Of The Above
Answer: a
641: The Persistent Increases In The General Level Of Prices Is Known As:
  1. Hyperinflation
  2. Inflation
  3. Devaluation
  4. Recession
Answer: b
642: What Is The Term Used For Airports, Roads, Railways, Sewage, Telephone And Other Public Utilities?
  1. Understructure
  2. Substructure
  3. Infrastructure
  4. Superstructure
Answer: c
643: The Contract To Pay A Premium For Which The Insurer Will Pay Compensation In Certain Happenings E.g., Fire Theft Or Motor Accident Is Termed As:
  1. Insurance
  2. Warranty
  3. Security
  4. Safeguard
Answer: a
644: The Charge Made For The Use Of Borrowed Money Levied As A Percentage Of The Amount Of Debt Is Refered To As:
  1. Credit
  2. Interest
  3. Share
  4. Insurance
Answer: b
645: The Amount Of Gold Reserve, Currencies And Special Drawing Rights Available For The Finance Of International Trade Is Called:
  1. Foreign Reserves
  2. International Liqiudity
  3. Foreign Investment
  4. None Of The Above
Answer: b
646: What Is The Term For Stocks Of Raw Materials Work In Progress And Finished Goods?
  1. Inventory
  2. Checklist
  3. Stock
  4. Statement
Answer: a
647: The Real Capital Formation E.g., The Production Or Maintenance Of Machinary Or Construction That Will Produce A Stream Of Goods And Services Is Called
  1. Capital
  2. Investment
  3. Grant
  4. Property
Answer: b
648: The Demand For Two Or More Commodities Or Factor Of Production That Are Used Together So That A Change In Demand For One Will Be Reflected In A Change In Demand For Other E.g., Cloth And Thread Is Called
  1. Joint Demand
  2. Complementary Demand
  3. Isolated Demand
  4. Both A And B
Answer: d
649: The Business Arrangement In Which Two Companies Invest In A Project Over Which Both Have Partial Control Is Termed As:
  1. Joint Ventrue
  2. Speculation
  3. Project
  4. Undertaking
Answer: a
650: The Total Number Of People In A Country Who Are In Work Or Unemployed But Looking For Work, Is Called:
  1. Labour Demand
  2. Labour Force
  3. Labour Market
  4. None Of The Above
Answer: b
651: An Agreement Between The Owner Of A Property To Grant Use Of It To Another Party For A Specified Period At Specified Rent Payable Annually Is Called:
  1. Charter
  2. Contract
  3. Lease
  4. Compact
Answer: c
652: In 1971, United Nations Conference On Trade And Development (UNCTAD) Drew Up A List Of 24 Countries Having A GDP Of 100 Or Less Literacy Rate Of 20% Or Less And A Share Of Manufacturing Of 10% Or Less Of GDP .These Countries Were Referred To As:
  1. Developing Countries
  2. Advanced Cuntries
  3. Least Developed Countries
  4. None Of The Above
Answer: c
653: A Non-negotiable Order Of A Bank To A Foreign Bank Authorizing Payment To A Person Designated Of A Particular Sum Of Money Is Known As:
  1. Letter Of Credit
  2. Circular Letter Of Credit
  3. Letter Of Reference
  4. None Of The Above
Answer: a
654: Sums Of Money For Which Account Has To Be Made Are Called:
  1. Obligation
  2. Liabilities
  3. Misfortune
  4. Burden
Answer: b
655: The Degree To Which An Asset Can Be Quickly And Cheaply Turned Into Money, Is Termed As:
  1. Insolvency
  2. Liquidity
  3. Bankruptcy
  4. All Of The Above
Answer: b
656: The Borrowing Of A Sum Of Money By One Person, Company, Government Or Other Organization From Another Is Called:
  1. Usury
  2. Finance
  3. Loan
  4. Collateral
Answer: c
657: The Study Of Whole Economic Systems Aggregating Over The Functioning Of Individual Units.Specifically, It Is Study Of National Economies And The Determination Of National Income.It Is Known As
  1. Microeconomics
  2. Keynesian Economics
  3. Macroeconomics
  4. Mathematical Economics
Answer: c
658: The Degree To Which A Firm Exercise Influence Over The Price And Output In A Particular Market Is Called:
  1. Market Force
  2. Market Share
  3. Market Power
  4. Market Failure
Answer: c
659: Thomas Robert Malthus (1766 - 1834) Was A British Economist Who Is Remembered For His Essays On Population.In His Which Famous Work He Said, 'Population, When Unchecked, Increases In A Geometrical Ratio.Subsistence Only Increases In An Arithmetical Ratio.
  1. Principles Of Political Economy
  2. An Inquiry Into The Nature And Progress Of Rent
  3. An Essay On The Principle Of Population
  4. Illustrations Of Political Economy
Answer: c
660: Adam Smith (1723 - 1790) Was A British Economist And Philosopher.Which Treatise Of Adam Smith Is Considered The First Serious Attempt In The History Of Economics To Divorce The Study Of Political Economy From The Related Fields Of Political Science, Ethic
  1. Theory Of Moral Sentiments
  2. The Wealth Of Nations
  3. Principles Of Political Economy
  4. Illustrations Of Political Economy
Answer: b
661: Karl Marx (1818 - 1883) Was A German Political Philosopher And Economist.He Is One Of The Most Influential Thinkers Of All Times.Which Of The Following Is His Work?
  1. The Communist Manifesto
  2. Critique Of Political Economy
  3. Das Kapital
  4. All Of The Above
Answer: d
662: The Communist Manifesto Appeared In 1848.It Is Regarded As A Classic Exposition Of Modern Communist Views And It Influenced All Subsequent Communist Literature.Karl Marx Completed It Alongwith
  1. Friedrich Engels
  2. Thomas Mathus
  3. Adam Smith
  4. Vladimir Illich Lenin
Answer: a
663: The First Volume Of Karl Marx's Greatest Work Das Kapital Was Published In 1887.The Next Two Volumes Were Published Posthumously.Who Edited Those Volumes?
  1. Adam Smith
  2. Thomas Malthus
  3. Friendrich Engles
  4. Josphe Stalin
Answer: c
664: The Branch Of Economics Concerned With How Businesses Raise And Spend Their Money Is Known As
  1. Econometrics
  2. Finance
  3. Macroeconomics
  4. Corporate Finance.
Answer: d
665: The Branch Of Economics Concerned With Providing Funds To Individuals, Business And Governments Is Called:
  1. Econometrics
  2. Microeconomics
  3. Macroeconomics
  4. Finance
Answer: d
666: The Fusion Of Two Or More Separate Companies Into One Is Referred To As:
  1. Alliance
  2. Merger
  3. Separation
  4. Disintegration
Answer: b
667: Legislation Prohibiting The Paying Of Wages Below Some Specified Level Is Known As
  1. Standard Wage
  2. Minimum Wage
  3. Maximum Wage
  4. Optimum Wage
Answer: b
668: The Market Economy In Which Both Private And Public Enterprises Participate In Economic Activity Is Called:
  1. Mixed Economy
  2. Open Economy
  3. Closed Economy
  4. All Of The Above
Answer: a
669: The Theory Of Macroeconomics Which Holds That Increases In The Money Supply Are A Necessary And Sufficient Condition For Inflation, Is Called
  1. Capitalism
  2. Socialism
  3. Monetarism
  4. Communism
Answer: c
670: The Functions Of Sales, Distribution, Advertising And Sales Promotion, Product Planning And Market Research Are Termed As:
  1. Finance
  2. Marketing
  3. Business
  4. All Of The Above
Answer: b
671: European Recovery Program (ERP) Was A United States Program Of Financial Assistance That Helped To Rebuild European Nations Devastated By World War II.This Program Is Commonly Called
  1. George Plan
  2. Catlett Plan
  3. Marshall Plan
  4. Colombo Plan
Answer: c
672: An Early Modern European Economic Theory That Trade Generates Wealth Of Bullion Which A Government Should Encourage By Promoting Exports And Restricting Imports Is Called:
  1. Imperialism
  2. Colonialism
  3. Mercantilism
  4. Socialism
Answer: c
673: The Branch Of Economics At The Level Of Individual Consumers Groups Of Consumers Or Firms Is Known As:
  1. Macroeconomics
  2. Econometrics
  3. Microeconomics
  4. Keynesian Economics
Answer: c
674: The Economic Situation In Which Only A Single Seller Or Producer Supplies A Commodity Or A Service Is Called:
  1. Monopoly
  2. Possession
  3. Cartel
  4. Trust
Answer: a
675: The Legal Instrument That Pledges A House Or Other Real Estate As Security For Repayment Of A Loan Is Called:
  1. Mortgage
  2. Bond
  3. Foreclosure
  4. Lien
Answer: a
676: The International Trade And Exchange Between More Than Two Countries Without Discrimination Between Those Involved Is Called:
  1. Unilateralism
  2. Bilateralism
  3. Multilateralism
  4. None Of The Above
Answer: c
677: An Industry In Which Technical Factors Preclude The Efficient Existence Of More Than One Producer.This Situation Is Called:
  1. Natural Monopoly
  2. Monopoly
  3. Engineered Monopoly
  4. Duopoly
Answer: a
678: Commodities Or Assets With Some Economic Value Which Exist Without Any Effort Of Mankind, Are Called:
  1. Minerals
  2. Natural Resources
  3. By-products
  4. Consumer Resources
Answer: b
679: 1994 Nobel Prize For Economics Was Awarded To A American Mathematician For His Most Important Concept Of Equilibrium As Applied To Game Theory.His Name Was
  1. John Nash
  2. Reinhard Selten
  3. John Harsanyi
  4. All Of The Above
Answer: a
680: The Reduction In The Useful Life Of A Capital Good Or Consumer Good Through Economic Or Technological Change As Distinct From Physical Deterioration In Use Is Termed As:
  1. Depreciation
  2. Devaluation
  3. Obsolesience
  4. All Of The Above
Answer: c
681: A Market That Is Dominated By A Few Large Suppliers Is Known As:
  1. Oligopoly
  2. Monopoly
  3. Duopoly
  4. None Of The Above
Answer: a
682: A Loan Facility On The Customer's Current Account At A Bank Permitting Him To Withdraw Up To A Certain Agreed Limit For An Agreed Period, Is Referred To As:
  1. Personal Loan
  2. Mortgage
  3. Overdraft
  4. Credit
Answer: c
683: The Situation In Which Aggregate Demand In The Economy Is Growing At A Rate Reliable To Lead To Inflation Is Called:
  1. Overdraft
  2. Overheating
  3. Oversubscription
  4. None Of The Above
Answer: b
684: An Unincorporated Business Formed By The Association Of Two Or More Persons Who Share Risks And Profits Is Called:
  1. Merger
  2. Alliance
  3. Partnership
  4. Corporation
Answer: c
685: The Period Over Which The Cumulative Net Revenue From An Investment Project Equals The Original Investment Is Known As:
  1. Payback
  2. Paycheck
  3. Both Of The Above
  4. None Of The Above
Answer: a
686: Sums Of Money Laid Aside And Normally Invested To Provide A Regular Income On Retirement Or In Compensation For Disablement For The Remainder Of A Person's Life Is Called:
  1. Provident Funds
  2. Pension Funds
  3. Social Security
  4. None Of The Above
Answer: b
687: A Bank Loan Made Without Collateral Security To A Private Customer For Specific Purposes Is Called:
  1. Personal Loan
  2. Credit
  3. Finance
  4. Lien
Answer: a
688: What Is The Informal Name For Annual Publication 'United Kingdom Balance Of Payments'?
  1. Green Book
  2. Red Book
  3. Pink Book
  4. Blue Book
Answer: c
689: The System Of Agricultural Support By Which Market Prices Are Fixed At Above Free Market Levels And Government Buys Surpluses, Thus Supporting Prices And Raising Farmer's Income Is Called:
  1. Price Regulation
  2. Price Support
  3. Price System
  4. None Of The Above
Answer: b
690: The Part Of The Economy In Which Economy Activity Is Carried On By Private Enterprise Is Termed:
  1. Personal Sector
  2. Corporate Sector
  3. Private Sector
  4. Public Sector
Answer: c
691: The Sale Of Government Owned Equity In Nationalized Industries Or Other Commercial Enterprises To Private Investors Is Called:
  1. Nationalization
  2. Privatization
  3. Denationalization
  4. Both B And C
Answer: b
692: The Sale Of Shares On The Stock Exchange In Order To Realize Capital Appreciation Is Known As:
  1. Profit Sharing
  2. Profit Taking
  3. Dividends
  4. Equity
Answer: b
693: A Legal Document Between A Lender And A Borrower Whereby The Later Agrees To Certain Conditions For The Repayment Of The Sum Of Money Borrowed; Is Called:
  1. Promissory Note
  2. Bill Of Exchange
  3. Both Of The Above
  4. None Of The Above
Answer: a
694: The Proportion Of A Sum Of Money That Is Paid Over A Specified Time Period In Payment For Its Loan Is Called:
  1. Rate Of Interest
  2. Rate Of Substitution
  3. Rate Of Return
  4. None Of The Above
Answer: a
695: The Net Profit After Depreciation As A Percentage Of Average Capital Employed In A Business Is Known As:
  1. Rate Of Substitution
  2. Rate Of Interest
  3. Rate Of Return
  4. None Of The Above
Answer: c
696: The Term Used To Describe A Sharp Slowdown In The Rate Of Economic Growth Or A Modest Decline In Economic Activity Is Called:
  1. Depression
  2. Slump
  3. Recession
  4. None Of The Above
Answer: c
697: Scarce Inputs That Can Yield Utility Through Production Or Provision Of Goods And Services Are Referred To As:
  1. Resources
  2. Assets
  3. Means
  4. Capabilities
Answer: a
698: A Tax Levied As A Proportion Of The Retail Price Of A Commodity At The Point Of Sale Is Called:
  1. Income Tax
  2. Wealth Tax
  3. Sales Tax
  4. Property Tax
Answer: c
699: What Is The Term For Generating Capital From Income?
  1. Self-financing
  2. Self-sufficiency
  3. Both Of The Above
  4. None Of The Above
Answer: a
700: The Total Increase In The Welfare Of Society From An Economic Action Is Called:
  1. Fringe Benefits
  2. Social Benefits
  3. Individual Benefits
  4. None Of The Above
Answer: b
701: A Loan Bearing Either No Rate Of Interest Or An Interest Rate Which Is Below The True Cost Of Capital Lent Is Known As:
  1. Soft Loan
  2. Personal Loan
  3. Finance
  4. Credit
Answer: a
702: Buying And Selling With A View To Buying And Selling At A Profit Later When The Prices Have Changed Is Termed:
  1. Surmising
  2. Speculation
  3. Guesswork
  4. Estimate
Answer: b
703: The Quantity Of Goods And Services Consumed By An Individual Or A Household Is Called:
  1. Standard Of Living
  2. Standard Of Success
  3. Gross Domestic Product
  4. Gross National Product
Answer: a
704: What Is The Name Given To Companies Legally Controlled By Other Companies?
  1. Franchise
  2. Consortium
  3. Subsidiaries
  4. Merger
Answer: c
705: Government Grants To Suppliers Of Goods And Services Is Called:
  1. Subsidy
  2. Support
  3. Tax
  4. Grant
Answer: a
706: The Notion That Economic Development Should Proceed At A Pace And In A Manner That Will Conserve The Environment And Depletible Natural Resources Is Called:
  1. Sustainable Development
  2. Rural Development
  3. Social Development
  4. None Of The Above
Answer: a
707: Arranging One's Financial Affairs Within The Law So As To Minimize Taxation Liabilities Is Known As
  1. Tax Evasion
  2. Tax Avoidance
  3. Tax Burden
  4. Tax Expenditures
Answer: b
708: The Compulsory Transfer Of Money From Private Individuals, Institutions Or Groups To The Government Is Called:
  1. Tax Burden
  2. Tax Evasion
  3. Taxation
  4. Tax Yield
Answer: c
709: A Trade Barrier Is Any Government Limitation On The Free International Exchange Of Merchandise.Which Of These Is An Instance Of Trade Barrier?
  1. Tariffs
  2. Quotas
  3. Import Deposit
  4. All Of The Above
Answer: d
710: The Excess Of The Value Of Imports Of Goods And Services Over The Value Of Exports Of Goods And Services Is Called:
  1. Trade Cycle
  2. Trade Credit
  3. Trade Gap
  4. Trade Investment
Answer: c
711: In UK, Who Is The First Lord Of The Treasury?
  1. Queen
  2. King
  3. Prime Minister
  4. Finance Minister
Answer: c
712: Instruments For Short-term Borrowing By The Government Are Called:
  1. Treasury Bills
  2. Treasury Notes
  3. Credit Line
  4. Promissory Notes
Answer: a
713: The Total Sales Revenue Of A Business Is Called:
  1. Flow
  2. Turnover
  3. Business
  4. None Of The Above
Answer: b
714: Variable Costs Are Those That Vary Directly With The Rate Of Output E.g., Labour Costs, Fuel And Power Etc., These Are Also Known As:
  1. Prime Costs
  2. Direct Costs
  3. Operating Costs
  4. All Of The Above
Answer: d
715: The Part Of Current Assets Financed From Long Term Funds Is Called:
  1. Working Capital
  2. Investment
  3. Current Equity
  4. Working Equity
Answer: a
716: In Economics, Gold Standard Is The Monetary System Where In All Form Of Legal Tender May Be Converted On Demand, Into Fixed Quantities Of Gold.In 1816, The First Country To Go On The Gold Standard Was:
  1. United States
  2. United Kingdom
  3. Spain
  4. France
Answer: b
717: A Type Of Association Usually Formed By Banks Or Railroads As A Central Agency Where Members Can Settle Accounts Is Known As:
  1. Clearing House
  2. Pawnbroking
  3. Credit Union
  4. All Of The Above
Answer: a
718: The Type Of Currency Issued By Government As Legal Tender The Value Of Which Is Based Solely On Decree Or Law Rather Than Actual Coin Or Precious Metal Reserves Is Termed As:
  1. Soft Money
  2. Hard Money
  3. Fiat Money
  4. None Of The Above
Answer: c
719: Bimetallism Is The Monetary Policy Based On The Use Of Two Metals, As Legal Tender Without Limit And Equalized By Law In A Fixed Ratio.Which Are These Two Metals?
  1. Platinum And Gold
  2. Gold And Silver
  3. Platinum And Silver
  4. All Of The Above
Answer: b
720: An Association Of Individuals Or Corporations Formed To Conduct A Specific Financial Transaction Such As Buying A Business Is Known As:
  1. Merger
  2. Joint Venture
  3. Syndicate
  4. Franchise
Answer: c
721: The Sixth Nobel Prize For Economics Was Introduced In 1969 In Memory Of Alfred Nobel.It Is Financed By
  1. Asian Development Bank
  2. Swedish National Bank
  3. World Bank
  4. International Monetary Fund
Answer: b

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