MCQ ONLINE ECONOMICS TEST NO.01 MCQ ONLINE ECONOMICS TEST NO.01 61 General Knowledge - ECONOMICS TEST NO.01 General Knowledge - ECONOMICS TEST NO.01 1 / 46 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 located abroad, is called General Domestic Production Gross Domestic Product Gross National Product Gross Home Products 2 / 46 Safety stock of grains held by the government is: Buffer stock Surplus stock Overall stock Overhead stock 3 / 46 The biggest market of Pakistani Imports is U.K USA Japan Russia 4 / 46 In the budget 2001-2002, the government has decided to wind-up one of the following privilege of the new employees House rent Pension None Benevolent fund 5 / 46 Family Planning in rural areas hampered mainly due to Non-availability of devices Psychological and Social Orthodoxy Lack of knowledge Deficiency in planning 6 / 46 Pakistan’s domestic demand for petroleum products in growing annually with the percentage of 8 percent 15 percent 5 percent 3 percent 7 / 46 The first “World Population Conference” under the United Nations was held in 1975 at Kampala Ankara Nairobi Bucharest 8 / 46 A free port is the port where Less duties are paid No duties and no restrictions Restrictions on imports but not on exports Selective duties are paid 9 / 46 Both-way trade between two countries is also known as Terms of Trade Volume of Trade Government Expenditure Fiscal Revenue 10 / 46 Which of the following statement is not true The World Bank provides loans to such countries whose balance of payments condition is not favourable The membership of the IMF is the principal condition for membership of the World Bank (d) The World Bank finance all kinds of capital infrastructure such as roads and railways, telecommunications, seaports and power facilities in the developing countries The World Bank has to affiliates, the International Development Association and the International Finance Corporation. 11 / 46 The Islamic Development Bank would provide half a billion US dollars in Capital to create International Islamic Foundation for Science and Technology None of the above Refugees Rehabilitation Fund Private Pan Islamic Bank 12 / 46 Family Planning Programme was started in Pakistan in: 1959 1952 1957 1955 13 / 46 Financial year of USA starts from 1st April 1st January 1st March 1st July 14 / 46 The world's most Powerful super computer is called None ASCI Pink ASCI Red ASCI White 15 / 46 In the budget 2001-2002, the largest sector of current expenditure is allocated on Subsidies Defence Debt servicing Running of civil government 16 / 46 Embargoes are designed to Restrict trade of particular commodities None Restrict trade of drugs Promote trade of prohibited goods 17 / 46 Pinpoint the main objectives of World Trade Organization (WTO): To secure Third World markets for American and European goods To abolish completely custom duties on items of trade within member countries Fix a quota for each member country trading in International Market To eliminate quota system and promote free competition in trade 18 / 46 The lowest number of people living below the poverty line among the SAARC Countries are in Pakistan Bangladesh Nepal Sri Lanka 19 / 46 What do you understand by the term "Kerb" in foreign currency dealings: (a) All sort of Monetary dealings in foreign currencies within the stock exchange The exchange rate of currencies in the open market None The exchange rate of currencies determined by the State Bank of Pakistan 20 / 46 Dow Jones index' is the scale For measuring the average share price of leading Japanese companies NONE For measuring the average share price of major US industrial companies For measuring Industrial profit in a year 21 / 46 Trade by exchange of Commodities is called Line of Credit International Trade Barter Trade Foreign Exchange 22 / 46 Cash crop is the crop NONE Which is grown only for sale Which gives high profit to the farmers Which is grown after taking Cash loan from Banks 23 / 46 The regulations of World Trade Organization (WTO) shall be enforced from 1-Jan-05 1-Jul-04 1-Jan-03 1-Jan-02 24 / 46 Agreement between two countries is Special agreement Multi lateral agreement Bilateral agreement Single agreement 25 / 46 An economy when private and government enterprises both operates, is Mixed economy Free economy Closed economy Joint economy 26 / 46 Identify the main functions of IMF: None of the above To provide loans to the members of UNO for development of Industrial infra structure To make foreign exchange resources available for those countries facing balance of payments difficulties To make foreign exchange resources available for those countries that want to import essential items of food 27 / 46 What percentage of population in Pakistan is under the age of 15 38% 50% 40% 45% 28 / 46 When no tariffs are imposed on exports and imports, it is called Two way trade Free trade Exchange trade Selective trade 29 / 46 In the budget 2001, 2002, what amount the government has allocated to undertake new water projects in the country: Rs. 5 billion Rs. 2 billion Rs. 4 billion Rs. 3 billion 30 / 46 Which five year plan of Pakistan is yet to be implemented 7th 8th 10th 9th 31 / 46 The number of family welfare centres in Punjab are 940 560 1230 1503 32 / 46 Who is the first Tax Mohtasib of Pakistan Justice (R) Ijaz Nisar Justice (R) Allah Nawaz Justice (R) Saleem Kazmi Justice (R) Saleem Akhtar 33 / 46 The United Nations celebrated “International Year of Shelter for the Homeless” in 1985 1992 1990 1987 34 / 46 Which country has maximum foreign project investments in Pakistan USA U.K Japan China 35 / 46 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 Revolution Devaluation Inflation Deflation 36 / 46 Which of the following country will provide financial aid for the construction of Gwadar Port and Makran Coastal highway in Balochistan? Russia Canada USA China 37 / 46 The Balance of payment is understood as The balance between a nation's expenditure on imports and its receipts from exports. The balance of amount after paying debt None of the above The balance of income and expenditure in the annual budget 38 / 46 The lowest price below which a thing will not be sold is called its Real price Ceiling price Average price Floor price 39 / 46 The Women’s Division was created in the Federal Government in January 1977 1979 1974 1981 40 / 46 Difference between a countrys exports and imports is Trade Balance Trade Deficit Volume of Trade Trade Surplus 41 / 46 When a group of countries have removed all tariffs quotas and export subsidies on trade among themselves – that is called: Laissez faire Free Trade zone Liberal Trade region all 42 / 46 The domestic production of crude oil in the country is approximately (per day) 70,000 Barrels 57,700 Barrels 65,200 Barrels 44,300 Barrels 43 / 46 The per capita income of Pakistan is approximately 408 US Dollars 350 US Dollars 483 US Dollars 503 US Dollars 44 / 46 Which one among the following statements is truly explain the `Laissez Faire' theory State should manage every field of economic activities for the benefit of the public None There should be fair distribution of wealth in the society State should refrain from all intervention in economic affairs 45 / 46 The outflow of the best and brightest students from developing countries is called Migration of intellectual Transfer of mind Shift of Brain Brain drain 46 / 46 Which province has the highest literacy rate Sindh Punjab Balochistan N.W.F.P Your score isThe average score is 40% LinkedIn Facebook VKontakte 0% Restart quiz Read more articles Previous PostAssessment scheme for Physics Class 9th 2016-2017 Onwards Next PostHISTORY, CULTURE AND CIVILIZATION MCQs TEST NO.1 You Might Also Like 10th Class Chemistry Important MCQs Chapter No.2 October 12, 2018 Grade 10 Computer Science New Book 2023 MCQs September 26, 2021 12th Class PHYSICS MCQ CHAPTER NO.2 CURRENT ELECTRICITY Test No.2 April 13, 2021 11th Class Chemistry MCQs Test Online Quiz Pdf Download April 26, 2020 English Antonyms Aptitude MCQs Quiz Verbal Ability Answers Pdf May 21, 2022 2nd Year Chemistry MCQs Chap No.4 Group VA & VIA Elements February 27, 2021 Leave a ReplyCommentEnter your name or username to comment Enter your email address to comment Enter your website URL (optional) Δ