MCQ ONLINE ECONOMICS TEST NO.01 MCQ ONLINE ECONOMICS TEST NO.01 54 General Knowledge - ECONOMICS TEST NO.01 General Knowledge - ECONOMICS TEST NO.01 1 / 46 The outflow of the best and brightest students from developing countries is called Shift of Brain Brain drain Transfer of mind Migration of intellectual 2 / 46 The Islamic Development Bank would provide half a billion US dollars in Capital to create Refugees Rehabilitation Fund International Islamic Foundation for Science and Technology None of the above Private Pan Islamic Bank 3 / 46 Financial year of USA starts from 1st January 1st March 1st July 1st April 4 / 46 Which of the following country will provide financial aid for the construction of Gwadar Port and Makran Coastal highway in Balochistan? USA China Russia Canada 5 / 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 General Domestic Production Gross Domestic Product Gross Home Products Gross National Product 6 / 46 In the budget 2001-2002, the government has decided to wind-up one of the following privilege of the new employees Benevolent fund Pension None House rent 7 / 46 The per capita income of Pakistan is approximately 503 US Dollars 350 US Dollars 408 US Dollars 483 US Dollars 8 / 46 The world's most Powerful super computer is called ASCI Red None ASCI Pink ASCI White 9 / 46 Safety stock of grains held by the government is: Surplus stock Overhead stock Buffer stock Overall stock 10 / 46 Pakistan’s domestic demand for petroleum products in growing annually with the percentage of 3 percent 5 percent 15 percent 8 percent 11 / 46 When a group of countries have removed all tariffs quotas and export subsidies on trade among themselves – that is called: all Free Trade zone Laissez faire Liberal Trade region 12 / 46 Trade by exchange of Commodities is called International Trade Foreign Exchange Barter Trade Line of Credit 13 / 46 Which of the following statement is not true (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 provides loans to such countries whose balance of payments condition is not favourable The membership of the IMF is the principal condition for membership of the World Bank The World Bank has to affiliates, the International Development Association and the International Finance Corporation. 14 / 46 Who is the first Tax Mohtasib of Pakistan Justice (R) Ijaz Nisar Justice (R) Allah Nawaz Justice (R) Saleem Akhtar Justice (R) Saleem Kazmi 15 / 46 Family Planning Programme was started in Pakistan in: 1952 1955 1959 1957 16 / 46 Difference between a countrys exports and imports is Trade Surplus Trade Deficit Trade Balance Volume of Trade 17 / 46 The number of family welfare centres in Punjab are 560 1230 1503 940 18 / 46 In the budget 2001, 2002, what amount the government has allocated to undertake new water projects in the country: Rs. 2 billion Rs. 5 billion Rs. 3 billion Rs. 4 billion 19 / 46 Pinpoint the main objectives of World Trade Organization (WTO): To secure Third World markets for American and European goods To abolish completely custom duties on items of trade within member countries Fix a quota for each member country trading in International Market To eliminate quota system and promote free competition in trade 20 / 46 The lowest number of people living below the poverty line among the SAARC Countries are in Pakistan Sri Lanka Bangladesh Nepal 21 / 46 The biggest market of Pakistani Imports is Russia Japan U.K USA 22 / 46 Which five year plan of Pakistan is yet to be implemented 7th 10th 8th 9th 23 / 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. 24 / 46 Identify the main functions of IMF: To provide loans to the members of UNO for development of Industrial infra structure To make foreign exchange resources available for those countries that want to import essential items of food None of the above To make foreign exchange resources available for those countries facing balance of payments difficulties 25 / 46 The first “World Population Conference” under the United Nations was held in 1975 at Nairobi Bucharest Kampala Ankara 26 / 46 Cash crop is the crop NONE Which gives high profit to the farmers Which is grown after taking Cash loan from Banks Which is grown only for sale 27 / 46 The regulations of World Trade Organization (WTO) shall be enforced from 1-Jan-02 1-Jan-05 1-Jul-04 1-Jan-03 28 / 46 Agreement between two countries is Bilateral agreement Special agreement Multi lateral agreement Single agreement 29 / 46 When no tariffs are imposed on exports and imports, it is called Two way trade Exchange trade Selective trade Free trade 30 / 46 Which province has the highest literacy rate Balochistan Punjab Sindh N.W.F.P 31 / 46 An economy when private and government enterprises both operates, is Joint economy Free economy Mixed economy Closed economy 32 / 46 The domestic production of crude oil in the country is approximately (per day) 65,200 Barrels 57,700 Barrels 44,300 Barrels 70,000 Barrels 33 / 46 Both-way trade between two countries is also known as Government Expenditure Fiscal Revenue Volume of Trade Terms of Trade 34 / 46 Which one among the following statements is truly explain the `Laissez Faire' theory State should refrain from all intervention in economic affairs State should manage every field of economic activities for the benefit of the public There should be fair distribution of wealth in the society None 35 / 46 Which country has maximum foreign project investments in Pakistan Japan China U.K USA 36 / 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 37 / 46 What percentage of population in Pakistan is under the age of 15 38% 50% 45% 40% 38 / 46 A free port is the port where No duties and no restrictions Restrictions on imports but not on exports Less duties are paid Selective duties are paid 39 / 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 Inflation Revolution Deflation 40 / 46 Family Planning in rural areas hampered mainly due to Psychological and Social Orthodoxy Deficiency in planning Lack of knowledge Non-availability of devices 41 / 46 What do you understand by the term "Kerb" in foreign currency dealings: (a) All sort of Monetary dealings in foreign currencies within the stock exchange None The exchange rate of currencies in the open market The exchange rate of currencies determined by the State Bank of Pakistan 42 / 46 The United Nations celebrated “International Year of Shelter for the Homeless” in 1992 1987 1990 1985 43 / 46 In the budget 2001-2002, the largest sector of current expenditure is allocated on Defence Running of civil government Debt servicing Subsidies 44 / 46 The lowest price below which a thing will not be sold is called its Average price Ceiling price Floor price Real price 45 / 46 Embargoes are designed to Promote trade of prohibited goods None Restrict trade of drugs Restrict trade of particular commodities 46 / 46 The Women’s Division was created in the Federal Government in January 1974 1979 1977 1981 Your score isThe average score is 41% LinkedIn Facebook Twitter VKontakte 0% Restart quiz Read more articles Previous 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