MCQ ONLINE ECONOMICS TEST NO.01 MCQ ONLINE ECONOMICS TEST NO.01 55 General Knowledge - ECONOMICS TEST NO.01 General Knowledge - ECONOMICS TEST NO.01 1 / 46 Trade by exchange of Commodities is called Barter Trade International Trade Foreign Exchange Line of Credit 2 / 46 Which one among the following statements is truly explain the `Laissez Faire' theory There should be fair distribution of wealth in the society None State should manage every field of economic activities for the benefit of the public State should refrain from all intervention in economic affairs 3 / 46 The world's most Powerful super computer is called ASCI White None ASCI Red ASCI Pink 4 / 46 Which province has the highest literacy rate Balochistan Punjab Sindh N.W.F.P 5 / 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 The balance between a nation's expenditure on imports and its receipts from exports. None of the above 6 / 46 Which country has maximum foreign project investments in Pakistan China U.K Japan USA 7 / 46 Both-way trade between two countries is also known as Government Expenditure Volume of Trade Fiscal Revenue Terms of Trade 8 / 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 (a) All sort of Monetary dealings in foreign currencies within the stock exchange The exchange rate of currencies in the open market None 9 / 46 An economy when private and government enterprises both operates, is Mixed economy Closed economy Free economy Joint economy 10 / 46 What percentage of population in Pakistan is under the age of 15 50% 40% 38% 45% 11 / 46 The per capita income of Pakistan is approximately 408 US Dollars 503 US Dollars 483 US Dollars 350 US Dollars 12 / 46 In the budget 2001-2002, the largest sector of current expenditure is allocated on Subsidies Defence Debt servicing Running of civil government 13 / 46 The outflow of the best and brightest students from developing countries is called Transfer of mind Brain drain Migration of intellectual Shift of Brain 14 / 46 Financial year of USA starts from 1st April 1st March 1st July 1st January 15 / 46 The first “World Population Conference” under the United Nations was held in 1975 at Ankara Nairobi Kampala Bucharest 16 / 46 Which of the following country will provide financial aid for the construction of Gwadar Port and Makran Coastal highway in Balochistan? Canada China Russia USA 17 / 46 Difference between a countrys exports and imports is Trade Deficit Volume of Trade Trade Surplus Trade Balance 18 / 46 The biggest market of Pakistani Imports is U.K Russia USA Japan 19 / 46 The regulations of World Trade Organization (WTO) shall be enforced from 1-Jan-03 1-Jan-05 1-Jan-02 1-Jul-04 20 / 46 Family Planning Programme was started in Pakistan in: 1952 1959 1957 1955 21 / 46 The lowest number of people living below the poverty line among the SAARC Countries are in Bangladesh Sri Lanka Nepal Pakistan 22 / 46 Cash crop is the crop Which is grown after taking Cash loan from Banks Which is grown only for sale NONE Which gives high profit to the farmers 23 / 46 Agreement between two countries is Bilateral agreement Multi lateral agreement Single agreement Special agreement 24 / 46 The Women’s Division was created in the Federal Government in January 1974 1981 1977 1979 25 / 46 Pakistan’s domestic demand for petroleum products in growing annually with the percentage of 3 percent 8 percent 15 percent 5 percent 26 / 46 When a group of countries have removed all tariffs quotas and export subsidies on trade among themselves – that is called: all Free Trade zone Laissez faire Liberal Trade region 27 / 46 In the budget 2001-2002, the government has decided to wind-up one of the following privilege of the new employees Pension Benevolent fund House rent None 28 / 46 When no tariffs are imposed on exports and imports, it is called Selective trade Free trade Exchange trade Two way trade 29 / 46 Dow Jones index' is the scale For measuring the average share price of leading Japanese companies For measuring Industrial profit in a year NONE For measuring the average share price of major US industrial companies 30 / 46 The Islamic Development Bank would provide half a billion US dollars in Capital to create Refugees Rehabilitation Fund Private Pan Islamic Bank International Islamic Foundation for Science and Technology None of the above 31 / 46 Which of the following statement is not true (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 membership of the IMF is the principal condition for membership of the World Bank The World Bank has to affiliates, the International Development Association and the International Finance Corporation. The World Bank provides loans to such countries whose balance of payments condition is not favourable 32 / 46 Safety stock of grains held by the government is: Overall stock Overhead stock Surplus stock Buffer stock 33 / 46 In the budget 2001, 2002, what amount the government has allocated to undertake new water projects in the country: Rs. 4 billion Rs. 3 billion Rs. 5 billion Rs. 2 billion 34 / 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 35 / 46 The lowest price below which a thing will not be sold is called its Floor price Real price Ceiling price Average price 36 / 46 The United Nations celebrated “International Year of Shelter for the Homeless” in 1985 1992 1987 1990 37 / 46 Family Planning in rural areas hampered mainly due to Lack of knowledge Non-availability of devices Deficiency in planning Psychological and Social Orthodoxy 38 / 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 Devaluation Deflation Inflation Revolution 39 / 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 Domestic Product Gross National Product General Domestic Production Gross Home Products 40 / 46 Embargoes are designed to Restrict trade of drugs None Restrict trade of particular commodities Promote trade of prohibited goods 41 / 46 Identify the main functions of IMF: To make foreign exchange resources available for those countries that want to import essential items of food To make foreign exchange resources available for those countries facing balance of payments difficulties To provide loans to the members of UNO for development of Industrial infra structure None of the above 42 / 46 The number of family welfare centres in Punjab are 1503 1230 940 560 43 / 46 Pinpoint the main objectives of World Trade Organization (WTO): To eliminate quota system and promote free competition in trade Fix a quota for each member country trading in International Market To abolish completely custom duties on items of trade within member countries To secure Third World markets for American and European goods 44 / 46 Which five year plan of Pakistan is yet to be implemented 7th 8th 10th 9th 45 / 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 46 / 46 A free port is the port where Less duties are paid Selective duties are paid Restrictions on imports but not on exports No duties and no restrictions Your score isThe average score is 40% LinkedIn Facebook Twitter 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 9th Class Islamiat Old Course MCQs past Papers G1 download May 22, 2023 Most Important PPSC Education MCQs online Tests October 4, 2021 MCQ Biology 10th Class Chapter No 1 GASEOUS EXCHANGE May 19, 2018 PERSONALITIES OF THE WORLD MCQS GENERAL KNOWLEDGE Test No.3 March 4, 2021 English Antonyms Aptitude MCQs Quiz No.3 Verbal Ability Answers Pdf May 20, 2022 Pakistan Movement General Knowledge Quiz MCQs Test Questions Answers September 18, 2020 Leave a ReplyCommentEnter your name or username to comment Enter your email address to comment Enter your website URL (optional) Δ