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Online Tests
ICS Part 2 Economics English Medium Online Test MCQs With Answers
Question # 1
In 2018 Pkistan's total population stands approximately at
Choose an answer
11 cores
21 cores
31 cores
41 cores
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Question # 2
10-Rupees note is issued by
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National Bank
State Bank
Govt. of Pakistan
Governer State bank
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Question # 3
Contribution of industrial sector in Pakistan's GDP is.
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20%
30%
40%
50%
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Question # 4
When value of money falls, they benefits more
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Debtors
Lenders
Farmers
Industrialist
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Question # 5
What would encorage trade betwene two countries.
Choose an answer
Reduced tariffs
Quality control
Differente tax system
Fixing import quotes
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Question # 6
When economic development takes place
Choose an answer
Market imperfections increase
Population increases
Capital stock increases
B and C above
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Question # 7
Govt. taxatio and spending policieis are called.
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Fiscal policy
Monetary policy
Commercial policy
Finance policy
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Question # 8
Which of the following is international trade
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Trade between provinces
Trade between countries
Trade betwene regions
Trade between continents
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Question # 9
The share of 20% of population which forms the lowest income group gets share of Pakistan's national income as.
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6%
9%
12%
15%
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Question # 10
The government spends on education percentage of GDP
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2
6
8
10
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Question # 11
When a commercial bank creaes credite. Its immediate effect is tha tit raises.
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The exchange rate
The money supply
The interest rate
The real national income
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Question # 12
What would encourage trade betwene two countries.
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Different tax system
Frontier checks
National currencies
Reduce traiff
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Question # 13
Commercial banks accept deposits and provide
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Money
Loans
Bill of exchange
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Question # 14
Nationalisation of banks was done in
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1974
1976
1978
1980
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Question # 15
Total value of allfinal goods andservices produced annually by a country.
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NNP
GNP
GDP
NI
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Question # 16
Governmet finance is called.
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National finance
Public finance
Private finance
a and b above
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Question # 17
Credit money is created by
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Exchange bank
Commerical Bank
Finance companies
None of the above
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Question # 18
Whcih type of card is not issued by commmercial banks
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Credit card
Green card
ATM Card
Debit card
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Question # 19
A bank has Rs5 million in cash. The minimum reserve ratio is 20% What is maximum potential increase in total deposits
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0
5 m
10 m
25 m
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Question # 20
This is a difficulty of barter
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Lack of double coincidence of wants
Diffculty to produce goods at larger scale
Lack of divisiblility of many goods
All of the above
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Question # 21
Which One is equation of exchange.
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PT = MV
PV = MT
PM = TV
None
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