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

Question # 1

Pakistan Importss some goods and exports other goods primarily because of.

Free goods A
Comparative advantage B
Unemployment C
Self Sufficiency D

Question # 2

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 # 3

What would encourage trade betwene two countries.

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

Question # 4

Which of the following is international trade

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

Question # 5

Foreign Trade

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

Question # 6

Policy of Protecton in trade

Facilitates trade A
Protects local producers B
Protects foreign producers C
Protects exporters D

Question # 7

Govt policy about exports and imports is called.

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

Question # 8

Foreign Trade are

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

Question # 9

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 # 10

Pakistan is not a memebr of

IMF A
ECO B
OPEC C
World Bank D

Question # 11

Net exports equal

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

Question # 12

International trade and domestic trade fiffer because of.

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

Question # 13

Theory of omparative advantages was presented.

Ricardo A
Adam Smith B
Hicks C
Arshad D

Question # 14

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 # 15

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

Increase A
Decrease B
Double C
No effect D

Question # 16

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 # 17

Foregn trade creates among countries.

Conficits A
Cooperation B
Hatred C
None D

Sr.#	Question	Answer
1	Trade between two countries can be useful if cost ratios of goods are.	A. Equal B. Different C. Undertimed D. Decreasing
2	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
3	Net exports equal	A. Exports x imports B. Exports + imports C. exports- imports D. None of the above
4	It Japan and Pakistan start free trade differene in wges in two counties will	A. Increase B. Decrease C. Double D. No effect
5	What would encorage trade betwene two countries.	A. Reduced tariffs B. Quality control C. Differente tax system D. Fixing import quotes
6	Theory of omparative advantages was presented.	A. Ricardo B. Adam Smith C. Hicks D. Arshad
7	A Triff	A. Increase the volume trade B. Reduces the volume of trade C. Has no effect on volume of tradea D. a and c above
8	Pakistan is not a memebr of	A. IMF B. ECO C. OPEC D. World Bank
9	Pakistan Importss some goods and exports other goods primarily because of.	A. Free goods B. Comparative advantage C. Unemployment D. Self Sufficiency
10	International trade and domestic trade fiffer because of.	A. Trade restrictions B. Immobility of factors C. Difference govt Policy D. All of the above

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Pakistan Importss some goods and exports other goods primarily because of.

A Triff

What would encourage trade betwene two countries.

Which of the following is international trade

Foreign Trade

Policy of Protecton in trade

Govt policy about exports and imports is called.

Foreign Trade are

Two countries can gain from foreign trade if

Pakistan is not a memebr of

Net exports equal

International trade and domestic trade fiffer because of.

Theory of omparative advantages was presented.

In foreign trde protection policy means.

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

All are advantages of oreign trade Except.

Foregn trade creates among countries.

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