| 1 |
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
|
| 2 |
Which one of the following is included in balance of trade |
- A. Visible goods
- B. Invisible goods
- C. Visible & invisible goods
- D. All the three
|
| 3 |
In which of the following condition theory of international trade is presented |
- A. Monopoly
- B. Duopoly
- C. Monopolistic competition
- D. Perfect competition
|
| 4 |
The trade that takes place between the inhabitants of two countries is called |
- A. Domestic trade
- B. International trade
- C. National trade
- D. Regional Trade
|
| 5 |
In between how many countries international trade takes place under comparative cost theory |
- A. Two
- B. Three
- C. Four
- D. Many
|
| 6 |
The term "inflation" means: |
- A. Rapid increase in price level
- B. Decrease in price level
- C. General increase in price level
- D. Both a and c
|
| 7 |
Advantages of international trade are |
- A. One
- B. Two
- C. Three
- D. Many
|
| 8 |
One of the following is invisible item of balance of payment |
- A. Import of motor cars
- B. Exports of cotton
- C. Expenditure of passengers traveling by air
- D. Private investment in foreign country
|
| 9 |
The record of visible and invisible items on international account is called |
- A. Balance of payment
- B. Balance of trade
- C. Balance of budget
- D. Capital account
|
| 10 |
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
|
