MCQ ONLINE ECONOMICS TEST NO.01 MCQ ONLINE ECONOMICS TEST NO.01 55 General Knowledge - ECONOMICS TEST NO.01 General Knowledge - ECONOMICS TEST NO.01 1 / 46 Embargoes are designed to Restrict trade of drugs None Restrict trade of particular commodities Promote trade of prohibited goods 2 / 46 The per capita income of Pakistan is approximately 483 US Dollars 503 US Dollars 408 US Dollars 350 US Dollars 3 / 46 The outflow of the best and brightest students from developing countries is called Shift of Brain Migration of intellectual Transfer of mind Brain drain 4 / 46 The lowest number of people living below the poverty line among the SAARC Countries are in Sri Lanka Nepal Pakistan Bangladesh 5 / 46 The Women’s Division was created in the Federal Government in January 1977 1979 1981 1974 6 / 46 Financial year of USA starts from 1st March 1st January 1st July 1st April 7 / 46 When no tariffs are imposed on exports and imports, it is called Two way trade Free trade Exchange trade Selective trade 8 / 46 The lowering of the value of a currency in the international market or against specific other currencies, which makes exports cheaper and imports expensive is called Devaluation Deflation Revolution Inflation 9 / 46 Which of the following statement is not true The World Bank provides loans to such countries whose balance of payments condition is not favourable (d) The World Bank finance all kinds of capital infrastructure such as roads and railways, telecommunications, seaports and power facilities in the developing countries The World Bank has to affiliates, the International Development Association and the International Finance Corporation. The membership of the IMF is the principal condition for membership of the World Bank 10 / 46 Which of the following country will provide financial aid for the construction of Gwadar Port and Makran Coastal highway in Balochistan? USA Canada China Russia 11 / 46 The lowest price below which a thing will not be sold is called its Floor price Ceiling price Real price Average price 12 / 46 Cash crop is the crop Which gives high profit to the farmers Which is grown after taking Cash loan from Banks NONE Which is grown only for sale 13 / 46 In the budget 2001-2002, the government has decided to wind-up one of the following privilege of the new employees Pension Benevolent fund None House rent 14 / 46 The value of the output of all goods and services produced within a nation's borders, normally given as a total for the year. It thus includes the production of foreign owned firms within the country, but excludes the income from domestically owned firms located abroad, is called Gross Home Products Gross National Product Gross Domestic Product General Domestic Production 15 / 46 When a group of countries have removed all tariffs quotas and export subsidies on trade among themselves – that is called: Laissez faire all Liberal Trade region Free Trade zone 16 / 46 Both-way trade between two countries is also known as Fiscal Revenue Volume of Trade Terms of Trade Government Expenditure 17 / 46 Safety stock of grains held by the government is: Buffer stock Overall stock Overhead stock Surplus stock 18 / 46 Pinpoint the main objectives of World Trade Organization (WTO): To eliminate quota system and promote free competition in trade Fix a quota for each member country trading in International Market To abolish completely custom duties on items of trade within member countries To secure Third World markets for American and European goods 19 / 46 What do you understand by the term "Kerb" in foreign currency dealings: None The exchange rate of currencies determined by the State Bank of Pakistan The exchange rate of currencies in the open market (a) All sort of Monetary dealings in foreign currencies within the stock exchange 20 / 46 The first “World Population Conference” under the United Nations was held in 1975 at Nairobi Kampala Bucharest Ankara 21 / 46 Which one among the following statements is truly explain the `Laissez Faire' theory State should refrain from all intervention in economic affairs None There should be fair distribution of wealth in the society State should manage every field of economic activities for the benefit of the public 22 / 46 The biggest market of Pakistani Imports is Russia USA U.K Japan 23 / 46 Identify the main functions of IMF: To make foreign exchange resources available for those countries facing balance of payments difficulties None of the above To make foreign exchange resources available for those countries that want to import essential items of food To provide loans to the members of UNO for development of Industrial infra structure 24 / 46 Which five year plan of Pakistan is yet to be implemented 9th 7th 8th 10th 25 / 46 An economy when private and government enterprises both operates, is Free economy Closed economy Mixed economy Joint economy 26 / 46 Dow Jones index' is the scale For measuring the average share price of leading Japanese companies For measuring the average share price of major US industrial companies NONE For measuring Industrial profit in a year 27 / 46 The Balance of payment is understood as None of the above The balance of amount after paying debt The balance of income and expenditure in the annual budget The balance between a nation's expenditure on imports and its receipts from exports. 28 / 46 Family Planning Programme was started in Pakistan in: 1952 1957 1955 1959 29 / 46 Trade by exchange of Commodities is called Barter Trade International Trade Line of Credit Foreign Exchange 30 / 46 Which province has the highest literacy rate Balochistan Sindh Punjab N.W.F.P 31 / 46 Who is the first Tax Mohtasib of Pakistan Justice (R) Ijaz Nisar Justice (R) Saleem Akhtar Justice (R) Saleem Kazmi Justice (R) Allah Nawaz 32 / 46 The United Nations celebrated “International Year of Shelter for the Homeless” in 1992 1987 1985 1990 33 / 46 Family Planning in rural areas hampered mainly due to Non-availability of devices Deficiency in planning Lack of knowledge Psychological and Social Orthodoxy 34 / 46 The number of family welfare centres in Punjab are 940 1503 1230 560 35 / 46 The domestic production of crude oil in the country is approximately (per day) 57,700 Barrels 70,000 Barrels 65,200 Barrels 44,300 Barrels 36 / 46 A free port is the port where Less duties are paid No duties and no restrictions Selective duties are paid Restrictions on imports but not on exports 37 / 46 Which country has maximum foreign project investments in Pakistan USA China Japan U.K 38 / 46 Agreement between two countries is Single agreement Special agreement Multi lateral agreement Bilateral agreement 39 / 46 In the budget 2001-2002, the largest sector of current expenditure is allocated on Debt servicing Defence Subsidies Running of civil government 40 / 46 Pakistan’s domestic demand for petroleum products in growing annually with the percentage of 8 percent 3 percent 5 percent 15 percent 41 / 46 The Islamic Development Bank would provide half a billion US dollars in Capital to create International Islamic Foundation for Science and Technology None of the above Private Pan Islamic Bank Refugees Rehabilitation Fund 42 / 46 The world's most Powerful super computer is called ASCI Red ASCI White None ASCI Pink 43 / 46 Difference between a countrys exports and imports is Volume of Trade Trade Surplus Trade Balance Trade Deficit 44 / 46 The regulations of World Trade Organization (WTO) shall be enforced from 1-Jan-02 1-Jul-04 1-Jan-05 1-Jan-03 45 / 46 In the budget 2001, 2002, what amount the government has allocated to undertake new water projects in the country: Rs. 3 billion Rs. 2 billion Rs. 5 billion Rs. 4 billion 46 / 46 What percentage of population in Pakistan is under the age of 15 40% 50% 45% 38% Your score isThe average score is 40% LinkedIn Facebook Twitter VKontakte 0% Restart quiz Read more articles Previous PostAssessment scheme for Physics Class 9th 2016-2017 Onwards Next PostHISTORY, CULTURE AND CIVILIZATION MCQs TEST NO.1 You Might Also Like Advance Oxford English Grammar Rules and Sentence Structure June 3, 2022 Latest Current Affairs 2022 in the World and General Knowledge Question Answers August 17, 2022 10th Class MCQs Math Chapter No.9 Chords of a Circle April 3, 2021 9th Class Math Chapter No.5 FACTORIZATION MCQs April 13, 2021 PHYSICS MCQs 1st Year CHAPTER NO.10 OPTICAL INSTRUMENTS Test No.1 December 13, 2020 ONLINE MCQs FPSC & PPSC JOBS GENERAL KNOWLEDGE TEST NO.7 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