| 1 |
Quantity theory of money was criticized by: |
- A. Marshall
- B. Sameulson
- C. Keynes
- D. Both b and c
|
| 2 |
Difficulties in barter system: |
- A. Lack of double coincidence of wants
- B. Lack of storing value
- C. Lack of common measure of value
- D. All of these
|
| 3 |
The systematic record of visible and invisible exports and imports of a country in one year is called |
- A. Balance of trade
- B. Balance of payment
- C. External balance
- D. Internal balance
|
| 4 |
International trade is based on the following except |
- A. Different factors of production are required for the production of different goods
- B. Factors of production exist in different ratios in different countries
- C. Factors of production are in abundant quantity in different countries
- D. Factors of production are in limited quantity in different countries
|
| 5 |
Which economist explained the absolute difference of cost of two good between two countries |
- A. Malthus
- B. Adam Smith
- C. Ricardo
- D. J.S Mill
|
| 6 |
Comparative cost theory is also called |
- A. Theory of comparison cost
- B. Theory of specialization of cost
- C. Theory of balanced cost
- D. Theory of specialization of production
|
| 7 |
The first great depression was appeared in: |
- A. 1934
- B. 1930
- C. 1932
- D. 1936
|
| 8 |
When general price level increases due to increase in cost of production, it is known as ? |
- A. Stagflation
- B. Hyper inflation
- C. Demand pull inflation
- D. Cost push inflation
|
| 9 |
The relation between quantity of money and price is: |
- A. Positive
- B. Negative
- C. Direct
- D. Inverse
|
| 10 |
If currency can converted into gold, it is called: |
- A. Convertible paper money
- B. Inconvertible paper money
- C. Bank Money
- D. Both a and b
|
