MCQ ONLINE ECONOMICS TEST NO.01 Ā MCQ ONLINE ECONOMICS TEST NO.01 95 General Knowledge - ECONOMICS TEST NO.01 General Knowledge - ECONOMICS TEST NO.01 1 / 46 The Womenās Division was created in the Federal Government in January 1974 1979 1977 1981 2 / 46 Which five year plan of Pakistan is yet to be implemented 8th 9th 10th 7th 3 / 46 The biggest market of Pakistani Imports is Russia USA U.K Japan 4 / 46 Cash crop is the crop Which is grown only for sale NONE Which gives high profit to the farmers Which is grown after taking Cash loan from Banks 5 / 46 When no tariffs are imposed on exports and imports, it is called Selective trade Two way trade Exchange trade Free trade 6 / 46 Which province has the highest literacy rate Sindh Balochistan Punjab N.W.F.P 7 / 46 Family Planning Programme was started in Pakistan in: 1955 1957 1952 1959 8 / 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. 3 billion Rs. 4 billion 9 / 46 Family Planning in rural areas hampered mainly due to Deficiency in planning Lack of knowledge Non-availability of devices Psychological and Social Orthodoxy 10 / 46 The regulations of World Trade Organization (WTO) shall be enforced from 1-Jul-04 1-Jan-03 1-Jan-05 1-Jan-02 11 / 46 The domestic production of crude oil in the country is approximately (per day) 44,300 Barrels 65,200 Barrels 57,700 Barrels 70,000 Barrels 12 / 46 The first āWorld Population Conferenceā under the United Nations was held in 1975 at Kampala Nairobi Bucharest Ankara 13 / 46 The per capita income of Pakistan is approximately 503 US Dollars 350 US Dollars 408 US Dollars 483 US Dollars 14 / 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 15 / 46 Difference between a countrys exports and imports is Trade Surplus Trade Balance Volume of Trade Trade Deficit 16 / 46 Which of the following country will provide financial aid for the construction of Gwadar Port and Makran Coastal highway in Balochistan? USA Russia Canada China 17 / 46 In the budget 2001-2002, the largest sector of current expenditure is allocated on Defence Running of civil government Debt servicing Subsidies 18 / 46 The number of family welfare centres in Punjab are 560 940 1503 1230 19 / 46 Trade by exchange of Commodities is called International Trade Barter Trade Line of Credit Foreign Exchange 20 / 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 Deflation Revolution Devaluation Inflation 21 / 46 Which country has maximum foreign project investments in Pakistan Japan USA U.K China 22 / 46 Pinpoint the main objectives of World Trade Organization (WTO): Fix a quota for each member country trading in International Market To secure Third World markets for American and European goods To abolish completely custom duties on items of trade within member countries To eliminate quota system and promote free competition in trade 23 / 46 The Islamic Development Bank would provide half a billion US dollars in Capital to create Refugees Rehabilitation Fund None of the above International Islamic Foundation for Science and Technology Private Pan Islamic Bank 24 / 46 Which of the following statement is not true The membership of the IMF is the principal condition for membership of the World Bank The World Bank provides loans to such countries whose balance of payments condition is not favourable The World Bank has to affiliates, the International Development Association and the International Finance Corporation. (d) The World Bank finance all kinds of capital infrastructure such as roads and railways, telecommunications, seaports and power facilities in the developing countries 25 / 46 The world's most Powerful super computer is called ASCI Red ASCI White None ASCI Pink 26 / 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 Gross Home Products Gross Domestic Product Gross National Product General Domestic Production 27 / 46 A free port is the port where Less duties are paid Selective duties are paid No duties and no restrictions Restrictions on imports but not on exports 28 / 46 Pakistanās domestic demand for petroleum products in growing annually with the percentage of 3 percent 5 percent 8 percent 15 percent 29 / 46 Which one among the following statements is truly explain the `Laissez Faire' theory State should refrain from all intervention in economic affairs 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 30 / 46 The outflow of the best and brightest students from developing countries is called Transfer of mind Migration of intellectual Brain drain Shift of Brain 31 / 46 An economy when private and government enterprises both operates, is Closed economy Joint economy Free economy Mixed economy 32 / 46 The lowest price below which a thing will not be sold is called its Floor price Ceiling price Real price Average price 33 / 46 Both-way trade between two countries is also known as Fiscal Revenue Volume of Trade Government Expenditure Terms of Trade 34 / 46 What percentage of population in Pakistan is under the age of 15 50% 45% 40% 38% 35 / 46 Who is the first Tax Mohtasib of Pakistan Justice (R) Ijaz Nisar Justice (R) Saleem Kazmi Justice (R) Allah Nawaz Justice (R) Saleem Akhtar 36 / 46 What do you understand by the term "Kerb" in foreign currency dealings: The exchange rate of currencies determined by the State Bank of Pakistan The exchange rate of currencies in the open market None (a) All sort of Monetary dealings in foreign currencies within the stock exchange 37 / 46 Financial year of USA starts from 1st July 1st January 1st April 1st March 38 / 46 Agreement between two countries is Multi lateral agreement Special agreement Single agreement Bilateral agreement 39 / 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 40 / 46 Safety stock of grains held by the government is: Overall stock Buffer stock Overhead stock Surplus stock 41 / 46 The United Nations celebrated āInternational Year of Shelter for the Homelessā in 1992 1985 1990 1987 42 / 46 Identify the main functions of IMF: To make foreign exchange resources available for those countries facing balance of payments difficulties 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 that want to import essential items of food 43 / 46 The lowest number of people living below the poverty line among the SAARC Countries are in Bangladesh Sri Lanka Nepal Pakistan 44 / 46 When a group of countries have removed all tariffs quotas and export subsidies on trade among themselves ā that is called: Laissez faire all Free Trade zone Liberal Trade region 45 / 46 Embargoes are designed to Promote trade of prohibited goods Restrict trade of particular commodities Restrict trade of drugs None 46 / 46 The Balance of payment is understood as The balance of income and expenditure in the annual budget The balance of amount after paying debt None of the above The balance between a nation's expenditure on imports and its receipts from exports. 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