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 first “World Population Conference” under the United Nations was held in 1975 at Bucharest Nairobi Kampala Ankara 2 / 46 Agreement between two countries is Bilateral agreement Special agreement Single agreement Multi lateral agreement 3 / 46 When a group of countries have removed all tariffs quotas and export subsidies on trade among themselves – that is called: Laissez faire Liberal Trade region all Free Trade zone 4 / 46 What do you understand by the term "Kerb" in foreign currency dealings: None (a) All sort of Monetary dealings in foreign currencies within the stock exchange The exchange rate of currencies in the open market The exchange rate of currencies determined by the State Bank of Pakistan 5 / 46 The Women’s Division was created in the Federal Government in January 1979 1977 1981 1974 6 / 46 Trade by exchange of Commodities is called International Trade Barter Trade Line of Credit Foreign Exchange 7 / 46 What percentage of population in Pakistan is under the age of 15 45% 40% 38% 50% 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 Inflation Deflation Revolution 9 / 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 National Product General Domestic Production Gross Home Products Gross Domestic Product 10 / 46 Safety stock of grains held by the government is: Overhead stock Buffer stock Overall stock Surplus stock 11 / 46 The United Nations celebrated “International Year of Shelter for the Homeless” in 1992 1990 1985 1987 12 / 46 When no tariffs are imposed on exports and imports, it is called Two way trade Selective trade Free trade Exchange trade 13 / 46 In the budget 2001-2002, the government has decided to wind-up one of the following privilege of the new employees None House rent Benevolent fund Pension 14 / 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 15 / 46 The domestic production of crude oil in the country is approximately (per day) 44,300 Barrels 57,700 Barrels 70,000 Barrels 65,200 Barrels 16 / 46 Cash crop is the crop Which gives high profit to the farmers NONE Which is grown after taking Cash loan from Banks Which is grown only for sale 17 / 46 In the budget 2001, 2002, what amount the government has allocated to undertake new water projects in the country: Rs. 2 billion Rs. 4 billion Rs. 3 billion Rs. 5 billion 18 / 46 Who is the first Tax Mohtasib of Pakistan Justice (R) Saleem Akhtar Justice (R) Ijaz Nisar Justice (R) Allah Nawaz Justice (R) Saleem Kazmi 19 / 46 Both-way trade between two countries is also known as Government Expenditure Volume of Trade Fiscal Revenue Terms of Trade 20 / 46 The regulations of World Trade Organization (WTO) shall be enforced from 1-Jul-04 1-Jan-02 1-Jan-03 1-Jan-05 21 / 46 Dow Jones index' is the scale NONE For measuring Industrial profit in a year For measuring the average share price of leading Japanese companies For measuring the average share price of major US industrial companies 22 / 46 The outflow of the best and brightest students from developing countries is called Brain drain Shift of Brain Transfer of mind Migration of intellectual 23 / 46 Which country has maximum foreign project investments in Pakistan U.K China Japan USA 24 / 46 An economy when private and government enterprises both operates, is Free economy Mixed economy Joint economy Closed economy 25 / 46 Financial year of USA starts from 1st January 1st March 1st April 1st July 26 / 46 Which one among the following statements is truly explain the `Laissez Faire' theory There should be fair distribution of wealth in the society State should manage every field of economic activities for the benefit of the public None State should refrain from all intervention in economic affairs 27 / 46 Embargoes are designed to Promote trade of prohibited goods Restrict trade of drugs Restrict trade of particular commodities None 28 / 46 Family Planning in rural areas hampered mainly due to Non-availability of devices Lack of knowledge Deficiency in planning Psychological and Social Orthodoxy 29 / 46 Which province has the highest literacy rate N.W.F.P Sindh Punjab Balochistan 30 / 46 The biggest market of Pakistani Imports is Japan U.K USA Russia 31 / 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 has to affiliates, the International Development Association and the International Finance Corporation. 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 32 / 46 A free port is the port where Restrictions on imports but not on exports Less duties are paid Selective duties are paid No duties and no restrictions 33 / 46 Difference between a countrys exports and imports is Trade Surplus Volume of Trade Trade Balance Trade Deficit 34 / 46 The lowest price below which a thing will not be sold is called its Average price Ceiling price Real price Floor price 35 / 46 Which five year plan of Pakistan is yet to be implemented 8th 9th 10th 7th 36 / 46 The world's most Powerful super computer is called None ASCI Red ASCI Pink ASCI White 37 / 46 Family Planning Programme was started in Pakistan in: 1952 1955 1957 1959 38 / 46 Identify the main functions of IMF: To provide loans to the members of UNO for development of Industrial infra structure None of the above To make foreign exchange resources available for those countries facing balance of payments difficulties To make foreign exchange resources available for those countries that want to import essential items of food 39 / 46 The Balance of payment is understood as The balance of income and expenditure in the annual budget None of the above The balance of amount after paying debt The balance between a nation's expenditure on imports and its receipts from exports. 40 / 46 The lowest number of people living below the poverty line among the SAARC Countries are in Pakistan Sri Lanka Nepal Bangladesh 41 / 46 The number of family welfare centres in Punjab are 1230 560 1503 940 42 / 46 The per capita income of Pakistan is approximately 408 US Dollars 483 US Dollars 350 US Dollars 503 US Dollars 43 / 46 The Islamic Development Bank would provide half a billion US dollars in Capital to create None of the above Refugees Rehabilitation Fund International Islamic Foundation for Science and Technology Private Pan Islamic Bank 44 / 46 Which of the following country will provide financial aid for the construction of Gwadar Port and Makran Coastal highway in Balochistan? USA Russia Canada China 45 / 46 Pakistan’s domestic demand for petroleum products in growing annually with the percentage of 15 percent 5 percent 3 percent 8 percent 46 / 46 In the budget 2001-2002, the largest sector of current expenditure is allocated on Debt servicing Defence Running of civil government Subsidies Your score isThe average score is 41% 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 EDUCATIONAL PSYCHOLOGY AND GUIDANCE MCQs TEST NO. 3 November 22, 2015 PHYSICS MCQs 1st Year CHAPTER NO.5 CIRCULAR MOTION Test No.2 November 27, 2020 10th Class MCQs Biology Chapter No 7 MAN AND HIS ENVIRONMENT October 7, 2018 History Culture and Civilization General Knowledge Multiple Choice Questions September 18, 2020 General Knowledge Questions Answers PPSC Past Papers No.6 October 4, 2021 Biology Chapter No. 7 CELL CYCLE 2nd Year Online MCQs September 17, 2019 Leave a ReplyCommentEnter your name or username to comment Enter your email address to comment Enter your website URL (optional) Δ