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

Question # 1

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 # 2

What would encorage trade betwene two countries.

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

Question # 3

Foregn trade creates among countries.

Conficits A
Cooperation B
Hatred C
None D

Question # 4

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 # 5

Net exports equal

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

Question # 6

What would encourage trade betwene two countries.

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

Question # 7

Ric countries have deficit in their balance of payments

Some times A
Never B
Atternatee years C
Always D

Question # 8

Pakistan is not a memebr of

IMF A
ECO B
OPEC C
World Bank D

Question # 9

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

Free goods A
Comparative advantage B
Unemployment C
Self Sufficiency D

Question # 10

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

Increase A
Decrease B
Double C
No effect D

Question # 11

Which of the following is international trade

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

Question # 12

Govt policy about exports and imports is called.

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

Question # 13

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 # 14

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 # 15

Theory of omparative advantages was presented.

Ricardo A
Adam Smith B
Hicks C
Arshad 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	It Japan and Pakistan start free trade differene in wges in two counties will	A. Increase B. Decrease C. Double D. No effect
2	Trade between two countries can be useful if cost ratios of goods are.	A. Equal B. Different C. Undertimed D. Decreasing
3	What would encourage trade betwene two countries.	A. Different tax system B. Frontier checks C. National currencies D. Reduce traiff
4	Foreign Trade	A. Increses employment opportunites B. Increases international mobility of labour C. Increases competition D. All of the above
5	Which of the following is international trade	A. Trade between provinces B. Trade between countries C. Trade betwene regions D. Trade between continents
6	What would encorage trade betwene two countries.	A. Reduced tariffs B. Quality control C. Differente tax system D. Fixing import quotes
7	Pakistan is not a memebr of	A. IMF B. ECO C. OPEC D. World Bank
8	Foreign Trade are	A. Benefits developed countries B. Benefits underdeveloped countires C. Benefits all countries D. Benefits democretive countries
9	Ric countries have deficit in their balance of payments	A. Some times B. Never C. Atternatee years D. Always
10	Theory of omparative advantages was presented.	A. Ricardo B. Adam Smith C. Hicks D. Arshad

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ICS Part 2 Economics English Medium Chapter 7 Online Test

A Triff

What would encorage trade betwene two countries.

Foregn trade creates among countries.

In foreign trde protection policy means.

Net exports equal

What would encourage trade betwene two countries.

Ric countries have deficit in their balance of payments

Pakistan is not a memebr of

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

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

Which of the following is international trade

Govt policy about exports and imports is called.

Two countries can gain from foreign trade if

All are advantages of oreign trade Except.

Theory of omparative advantages was presented.

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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