Question # 1

Balance of payments is annual statistical record of

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Visible goods

Invisible goods

Foreign loans

Visible and invisible goods

Which of the following is not invisible trade

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Expenditure on education in other country

Expenditure on imported machinery

Expenditure of passengers traveling by air

Expenditure of goods carried by a ship

Money which can be converted into cash money is known is:

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Near money

Paper money

Legal tender money

Token money

Because of devaluation of currency of a country, its exports

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Decrease

Increase

Remains constant

Go on changing

The record of visible and invisible items on international account is called

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Balance of payment

Balance of trade

Balance of budget

Capital account

Deflation means:

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Rapid increase in price level

General decrease in price level

General increase in price level

Both a and c

In balance of payment are included

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Visible items

Invisible items

Visible and invisible items

Material items

The first great depression was appeared in:

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1934

1930

1932

1936

" International balance of payment is all that transaction for which either foreign exchange is spent or received." This definition is stated by

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Prof. Marshal

Prof.Samuelson

Prof. Ricardo

Prof. Hicks

In which year international monetary fund was established

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1941

1944

1945

1947

Comparative cost theory is also called

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Theory of comparison cost

Theory of specialization of cost

Theory of balanced cost

Theory of specialization of production

According to comparative cost theory conditions ------------- in goods and labour market exist

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of monopoly

of duopoly

Monopolistic competition

of perfect competition

Which economist explained the absolute difference of cost of two good between two countries

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Malthus

Adam Smith

Ricardo

J.S Mill

The systematic record of visible and invisible exports and imports of a country in one year is called

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Balance of trade

Balance of payment

External balance

Internal balance

In which of the following condition theory of international trade is presented

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Monopoly

Duopoly

Monopolistic competition

Perfect competition

Which economist has stated the definition of balance of payments

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Robbins

Kindleberger

Marshall

Keynes

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Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test MCQs With Answers

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