Question # 1

Quantity theory of money was introduced by:

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Fisher

Marshall

Crowther

J.S Mill

In comparative cost or comparative advantage theory, ratio is

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1x1 one good one country

2x2 two goods two countries

1x2 one good two countries

2x1 two goods one country

One of the following is not included in the causes of deficit in balance of payments of a country

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Increase in exports

Increase in imports

Unfavourable terms of trade

Occurance of inflation

If currency can converted into gold, it is called:

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Convertible paper money

Inconvertible paper money

Bank Money

Both a and b

Balance of payments is annual statistical record of

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Visible goods

Invisible goods

Foreign loans

Visible and invisible goods

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

Recent international depression was appeared in:

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1936

1990

2005

2008

The trade that takes place between the inhabitants of two countries is called

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Domestic trade

International trade

National trade

Regional Trade

The term "inflation" means:

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Rapid increase in price level

Decrease in price level

General increase in price level

Both a and c

Which economist has stated the definition of balance of payments

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Robbins

Kindleberger

Marshall

Keynes

The trade that takes place between the individuals living in different areas of a country is called

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Domestic trade

International trade

Foreign trade

Regional Trade

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

When there is inflation attached with high unemployment level, it is called ?

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Stagflation

Hyper inflation

Demand pull inflation

Cost push inflation

In which year international monetary fund was established

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1941

1944

1945

1947

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

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Monopoly

Duopoly

Monopolistic competition

Perfect competition

In case of international trade, trade restrictions are usually

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Limited

More

Too much

None of three

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

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