ICS Part 2 Economics English Medium Online Test With Answers

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ICS Part 2 Economics English Medium Online Test

Sr. # Questions Answers Choice
1 Flxible exchange rate sytem has the advantage. Automatic adjustment of balcne of payments Easy to borrow form world bank Encouragds exports None of the above
2 IMF Means International Monetary Funds Inernational Money Flow International Money Forum Internaional Monetary finance
3 Which of the following compares everage pricw of exports to avarage Price of imports. Balance of payments Balance of trade Terms of trade Exchange of rate
4 If TOYOTA Company estalishes a factory in Pakistan this will be recorded in balance of payments in the section. Capital account Visible balnce Invisible balnce Official financing
5 Pakistan exports as percentage GDP are. 4% 8% 12% 16%
6 It helps countries to meet deficit in balcne of payments. IMF WTO World Bank UNO
7 Invisible items in balce of payments include. Foreign remittances Income from tourism Internet charges All the three
8 A country does not trade with othr contries is called an economy Open Closed Independent None
9 In GNP of pakistan rises. It will encourage Exports Imports Both None
10 Exchange rate for currencies is determined by supply and demand in system of. Fixed exchange flexible Constatn Regulated
11 Balance of payment of a country has major parts. 2 3 4 5
12 Final balance of the payment of a country is Always balance Always dificit Always surplus Flucluates
13 Balance of payments of country includes. Current account Monetry Account Capital Account All of the above
14 Policy of Protecton in trade Facilitates trade Protects local producers Protects foreign producers Protects exporters
15 Pakistan Importss some goods and exports other goods primarily because of. Free goods Comparative advantage Unemployment Self Sufficiency
16 Pakistan is not a memebr of IMF ECO OPEC World Bank
17 Ric countries have deficit in their balance of payments Some times Never Atternatee years Always
18 In foreign trde protection policy means. Restrictions on imports Restrictions on exports Restriction on transfer of foreign exchagne All of the above
19 Foreign Trade are Benefits developed countries Benefits underdeveloped countires Benefits all countries Benefits democretive countries
20 Foreign Trade Increses employment opportunites Increases international mobility of labour Increases competition All of the above
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