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

Question # 1

Theory of omparative advantages was presented.

Ricardo A
Adam Smith B
Hicks C
Arshad D

Question # 2

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 # 3

Net exports equal

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

Question # 4

Ric countries have deficit in their balance of payments

Some times A
Never B
Atternatee years C
Always D

Question # 5

What would encourage trade betwene two countries.

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

Question # 6

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 # 7

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

Equal A
Different B
Undertimed C
Decreasing 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

Pakistan is not a memebr of

IMF A
ECO B
OPEC C
World Bank D

Question # 10

Foreign Trade

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

Question # 11

Foreign Trade are

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

Question # 12

Policy of Protecton in trade

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

Question # 13

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

Increase A
Decrease B
Double C
No effect D

Question # 14

What would encorage trade betwene two countries.

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

Question # 15

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 # 16

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 # 17

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

Sr.#	Question	Answer
1	International trade and domestic trade fiffer because of.	A. Trade restrictions B. Immobility of factors C. Difference govt Policy D. All of the above
2	Govt policy about exports and imports is called.	A. Monetary policy B. Fiscal policy C. Commercial Policy D. Finance policy
3	Pakistan is not a memebr of	A. IMF B. ECO C. OPEC D. World Bank
4	Foreign Trade	A. Increses employment opportunites B. Increases international mobility of labour C. Increases competition D. All of the above
5	Policy of Protecton in trade	A. Facilitates trade B. Protects local producers C. Protects foreign producers D. Protects exporters
6	Which of the following is international trade	A. Trade between provinces B. Trade between countries C. Trade betwene regions D. Trade between continents
7	Foregn trade creates among countries.	A. Conficits B. Cooperation C. Hatred D. None
8	What would encorage trade betwene two countries.	A. Reduced tariffs B. Quality control C. Differente tax system D. Fixing import quotes
9	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
10	It Japan and Pakistan start free trade differene in wges in two counties will	A. Increase B. Decrease C. Double D. No effect

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Theory of omparative advantages was presented.

In foreign trde protection policy means.

Net exports equal

Ric countries have deficit in their balance of payments

What would encourage trade betwene two countries.

All are advantages of oreign trade Except.

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

Govt policy about exports and imports is called.

Pakistan is not a memebr of

Foreign Trade

Foreign Trade are

Policy of Protecton in trade

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

What would encorage trade betwene two countries.

International trade and domestic trade fiffer because of.

Two countries can gain from foreign trade if

A Triff

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