| 1 |
The trade that takes place between the individuals living in different areas of a country is called |
- A. Domestic trade
- B. International trade
- C. Foreign trade
- D. Regional Trade
|
| 2 |
In which year international monetary fund was established |
- A. 1941
- B. 1944
- C. 1945
- D. 1947
|
| 3 |
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
|
| 4 |
The trade transaction between the individuals of different areas of a country is called |
- A. Local trade
- B. Regional trade
- C. Domestic trade
- D. International trade
|
| 5 |
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
|
| 6 |
In case of international trade, trade restrictions are usually |
- A. Limited
- B. More
- C. Too much
- D. None of three
|
| 7 |
Which economist has stated the definition of balance of payments |
- A. Robbins
- B. Kindleberger
- C. Marshall
- D. Keynes
|
| 8 |
According to comparative cost theory conditions ------------- in goods and labour market exist |
- A. of monopoly
- B. of duopoly
- C. Monopolistic competition
- D. of perfect competition
|
| 9 |
Inflation can be controlled by: |
- A. Fiscal policy
- B. Monetary policy
- C. Trade policy
- D. Both a and b
|
| 10 |
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
|
