Question # 1

International trade and domestic trade fiffer because of.

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Trade restrictions

Immobility of factors

Difference govt Policy

All of the above

Which of the following is international trade

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Trade between provinces

Trade between countries

Trade betwene regions

Trade between continents

What would encorage trade betwene two countries.

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Reduced tariffs

Quality control

Differente tax system

Fixing import quotes

Govt policy about exports and imports is called.

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Monetary policy

Fiscal policy

Commercial Policy

Finance policy

Pakistan is not a memebr of

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IMF

ECO

OPEC

World Bank

Ric countries have deficit in their balance of payments

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Some times

Never

Atternatee years

Always

All are advantages of oreign trade Except.

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People get foreign exchange

Difference in politicla system

Difference in markets

Difference in ideology

In foreign trde protection policy means.

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Restrictions on imports

Restrictions on exports

Restriction on transfer of foreign exchagne

All of the above

Net exports equal

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Exports x imports

Exports + imports

exports- imports

None of the above

Theory of omparative advantages was presented.

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Ricardo

Adam Smith

Hicks

Arshad

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

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Increase

Decrease

Double

No effect

Foregn trade creates among countries.

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Conficits

Cooperation

Hatred

None

A Triff

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Increase the volume trade

Reduces the volume of trade

Has no effect on volume of tradea

a and c above

Foreign Trade are

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Benefits developed countries

Benefits underdeveloped countires

Benefits all countries

Benefits democretive countries

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

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Free goods

Comparative advantage

Unemployment

Self Sufficiency

Two countries can gain from foreign trade if

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Cost ratios are differnet

Traiff rates are different

Price ratios are different

a and c above

Policy of Protecton in trade

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Facilitates trade

Protects local producers

Protects foreign producers

Protects exporters

Foreign Trade

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Increses employment opportunites

Increases international mobility of labour

Increases competition

All of the above

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

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Equal

Different

Undertimed

Decreasing

What would encourage trade betwene two countries.

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Different tax system

Frontier checks

National currencies

Reduce traiff

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