12th class Economics chapter 7 online mcq test with answers for ICS part 2 Economics chapter 7 (Public Finance)

Question # 1

Foreign Trade

Increses employment opportunites A
Increases international mobility of labour B
Increases competition C
All of the above D

Question # 2

Which of the following is international trade

Trade between provinces A
Trade between countries B
Trade betwene regions C
Trade between continents D

Question # 3

A Triff

Increase the volume trade A
Reduces the volume of trade B
Has no effect on volume of tradea C
a and c above D

Question # 4

Net exports equal

Exports x imports A
Exports + imports B
exports- imports C
None of the above D

Question # 5

Pakistan is not a memebr of

IMF A
ECO B
OPEC C
World Bank D

Question # 6

What would encorage trade betwene two countries.

Reduced tariffs A
Quality control B
Differente tax system C
Fixing import quotes D

Question # 7

Foregn trade creates among countries.

Conficits A
Cooperation B
Hatred C
None D

Question # 8

Govt policy about exports and imports is called.

Monetary policy A
Fiscal policy B
Commercial Policy C
Finance policy D

Question # 9

In foreign trde protection policy means.

Restrictions on imports A
Restrictions on exports B
Restriction on transfer of foreign exchagne C
All of the above D

Question # 10

Two countries can gain from foreign trade if

Cost ratios are differnet A
Traiff rates are different B
Price ratios are different C
a and c above D

Question # 11

It Japan and Pakistan start free trade differene in wges in two counties will

Increase A
Decrease B
Double C
No effect D

Question # 12

What would encourage trade betwene two countries.

Different tax system A
Frontier checks B
National currencies C
Reduce traiff D

Question # 13

All are advantages of oreign trade Except.

People get foreign exchange A
Difference in politicla system B
Difference in markets C
Difference in ideology D

Question # 14

Theory of omparative advantages was presented.

Ricardo A
Adam Smith B
Hicks C
Arshad D

Question # 15

Foreign Trade are

Benefits developed countries A
Benefits underdeveloped countires B
Benefits all countries C
Benefits democretive countries D

Question # 16

Trade between two countries can be useful if cost ratios of goods are.

Equal A
Different B
Undertimed C
Decreasing D

Question # 17

International trade and domestic trade fiffer because of.

Trade restrictions A
Immobility of factors B
Difference govt Policy C
All of the above D

Sr.#	Question	Answer
1	Two countries can gain from foreign trade if	A. Cost ratios are differnet B. Traiff rates are different C. Price ratios are different D. a and c above
2	Pakistan is not a memebr of	A. IMF B. ECO C. OPEC D. World Bank
3	Trade between two countries can be useful if cost ratios of goods are.	A. Equal B. Different C. Undertimed D. Decreasing
4	Foreign Trade are	A. Benefits developed countries B. Benefits underdeveloped countires C. Benefits all countries D. Benefits democretive countries
5	Net exports equal	A. Exports x imports B. Exports + imports C. exports- imports D. None of the above
6	Policy of Protecton in trade	A. Facilitates trade B. Protects local producers C. Protects foreign producers D. Protects exporters
7	In foreign trde protection policy means.	A. Restrictions on imports B. Restrictions on exports C. Restriction on transfer of foreign exchagne D. All of the above
8	What would encourage trade betwene two countries.	A. Different tax system B. Frontier checks C. National currencies D. Reduce traiff
9	What would encorage trade betwene two countries.	A. Reduced tariffs B. Quality control C. Differente tax system D. Fixing import quotes
10	All are advantages of oreign trade Except.	A. People get foreign exchange B. Difference in politicla system C. Difference in markets D. Difference in ideology

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Foreign Trade

Which of the following is international trade

A Triff

Net exports equal

Pakistan is not a memebr of

What would encorage trade betwene two countries.

Foregn trade creates among countries.

Govt policy about exports and imports is called.

In foreign trde protection policy means.

Two countries can gain from foreign trade if

It Japan and Pakistan start free trade differene in wges in two counties will

What would encourage trade betwene two countries.

All are advantages of oreign trade Except.

Theory of omparative advantages was presented.

Foreign Trade are

Trade between two countries can be useful if cost ratios of goods are.

International trade and domestic trade fiffer because of.

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