Principles of Economics Icom Part 1 English Medium Online Test With Answers

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Principles of Economics Icom Part 1 English Medium Online Test

Sr. # Questions Answers Choice
1 According to quantity theory of money one halving the quantity of money prices Increase Double Decrease One half
2 According to quantity theory of money doubling the quantity of money, prices Increase Double Decrease One half
3 When demand for goods and services rises, then velocity of circulation of money Increases Decreases Remains constant Does not change
4 Inflation is useful for Labourer Consumers Industrialist Pensioners
5 Prices during the situation of inflation Increase Decrease Do not change Become zero
6 Which one of the following was the difficulty of barter system Abundance of goods Lack of double coincidence of wants Difference of language difference of occupations
7 The best definition of money is stated by Marhsall Crowther Keynes Walker
8 Which kind of budget is better during the situation of inflation Deficit budget Surplus budget Balanced budget Domestic budget
9 Which kind of budget is better during the situation of deflation Deficit budget Surplus budget Balanced budget National budget
10 Unit of account money in Pakistan is Rial Rupee Dollar Pound
11
Inconvertible paper money is issued by
 Central bank Commercial bank Industrial bank Central government
12 All Pakistani coins are Token money Standard money Convertible money Inconvertible money
13 Convertible paper money is issued by Central bank Commercial bank Industrial bank Central government
14 Saving deposits and time deposits of the banks, Govt. securities and shares of the companies are called Token money Money of account Standard money Near money
15 One of the following is not the fiscal measure to control inflation Decrease in public expenditures Increase in the value of money Increase in taxes Encouragement of saving
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