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    Pakistan Economy

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    MCQ Section

    MCQ 1
    The Balance of payment is understood as:
    MCQ 2
    Pinpoint the main objectives of World Trade Organization (WTO):
    MCQ 3
    The number of family welfare centres in Punjab are:
    MCQ 4
    Which of the following statement is not true?
    MCQ 5
    Identify the main functions of IMF:
    MCQ 6
    The United Nations celebrated "International Year of Shelter for the Homeless" in:
    MCQ 7
    The Islamic Development Bank would provide half a billion US dollars in Capital to create--
    MCQ 8
    The domestic production of crude oil in the country is approximately (per day)
    MCQ 9
    The regulations of World Trade Organization (WTO) shall be enforced from:
    MCQ 10
    The biggest market of Pakistani exports is:
    MCQ 11
    The biggest market of Pakistani Imports is:
    MCQ 12
    Pakistan's domestic demand for petroleum products in growing annually with the percentage of:
    MCQ 13
    The Women's Division was created in the Federal Government in January:
    MCQ 14
    The first "World Population Conference" under the United Nations was held in 1975 at:
    MCQ 15
    Difference between a countrys exports and imports is:
    MCQ 16
    Cash crop is the crop:
    MCQ 17
    The Government has reduced the rate of profit on National Saving Schemes primarily for the reason of:
    MCQ 18
    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:
    MCQ 19
    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:
    MCQ 20
    Dow Jones index' is the scale:
    MCQ 21
    Embargoes are designed to:
    MCQ 22
    When a group of countries have removed all tariffs quotas and export subsidies on trade among themselves - that is called:
    MCQ 23
    Which one among the following statements is truly explain the 'Laissez Faire' theory?
    MCQ 24
    The lowest number of people living below the poverty line among the SAARC Countries are in:
    MCQ 25
    Family Planning in rural areas hampered mainly due to:
    MCQ 26
    Both-way trade between two countries is also known as:
    MCQ 27
    Trade by exchange of Commodities is called:
    MCQ 28
    Tax on a Commodity according to its volume is:
    MCQ 29
    Who is the first Tax Mohtasib of Pakistan?
    MCQ 30
    Safety stock of grains held by the government is:
    MCQ 31
    The lowest price below which a thing will not be sold is called its:
    MCQ 32
    When no tariffs are imposed on exports and imports, it is called:
    MCQ 33
    An economy when private and government enterprises both operates, is:
    MCQ 34
    Agreement between two countries is:
    MCQ 35
    Family Planning Programme was started in Pakistan in:
    MCQ 36
    What percentage of population in Pakistan is under the age of 15?
    MCQ 37
    A free port is the port where:
    MCQ 38
    Which country has maximum foreign project investments in Pakistan?
    MCQ 39
    What do you understand by the term "Kerb in foreign. currency dealings
    MCQ 40
    Financial year of USA starts from:
    MCQ 41
    In the budget 2001-2002, the government has decided to wind-up one of the following privilege of the new employees:
    MCQ 42
    In the budget 2001-2002, the largest sector of current expenditure is allocated on:
    MCQ 43
    In the budget 2001, 2002, what amount the government has allocated to undertake new water projects in the country:
    MCQ 44
    General is a: Sales Tax, under the constitution 1973
    MCQ 45
    Which of the following country will provide financial aid for the construction of Gwadar Port and Makran Coastal highway in Balochistan?
    MCQ 46
    The world's most Powerful super computer is called:
    MCQ 47
    The outflow of the best and brightest students from developing countries is called:
    MCQ 48
    Which five year plan of Pakistan is yet to be implemented?
    MCQ 49
    The per capita income of Pakistan is approximately:
    MCQ 50
    Which province has the highest literacy rate?
    MCQ 51
    According to a recent report of International Labour Organization (ILO) the number of people in the World living on two dollars or less a day are:
    MCQ 52
    Pinpoint the source, through which budgetary gap is financed in Pakistan?
    MCQ 53
    If a country wants to achieve rapid rate of economic development, it must save at least:
    MCQ 54
    Identify the main reason of 'deficit financing' in Pakistan-
    MCQ 55
    Pakistan's domestic saving rate of GNP is:
    MCQ 56
    Which is the single largest component of GDP of Pakistan?
    MCQ 57
    Which of the following sector is the main source of foreign exchange earnings in Pakistan?
    MCQ 58
    Identify the duration of the First five year plan of Pakistan:
    MCQ 59
    What is the share of wheat crop in total cropped area of Pakistan?
    MCQ 60
    The total area of Pakistan which area under forests is: is 80 million hectares, out of
    MCQ 61
    OPEC's largest oil producing country is:
    MCQ 62
    The Aid to Pakistan Consortium now renamed as:
    MCQ 63
    The ratio of males and females population of Pakistan is equal in:
    MCQ 64
    United Nations World Food Programme commenced its operation in Pakistan during:
    MCQ 65
    The country with highest ratio of urban population in South Asia is:
    MCQ 66
    The Government of Pakistan has given certain incentives to farmers for growing black tea on experimental basis at:
    MCQ 67
    In which of the following country, population growth rate is lowest?
    MCQ 68
    In which of the following country, the population growth rate is lowest?
    MCQ 69
    The largest population density is in:
    MCQ 70
    The World's population has now reached on:
    MCQ 71
    The study of science of population is called:
    MCQ 72
    The 5th national census recorded the total population of Punjab with annual growth rate of:
    MCQ 73
    The population growth rate in the country is:
    MCQ 74
    Identify the total percentage of population in the country, having access to safe and clean water supply.
    MCQ 75
    The population density in Punjab per square kilometer is approximately: (persons)
    MCQ 76
    Identify the member of G-8 organization, which will provide 300 million US dollars to Pakistan in 1999 for certain. development projects?
    MCQ 77
    In the total population of Pakistan, the percentage of income tax payers is only:
    MCQ 78
    The maximum number of persons populated in one square kilometer of area are in:
    MCQ 79
    The minimum number of persons populated in one square kilometer of area are in:
    MCQ 80
    In the total population of Pakistan, the share of Punjab province is approximately:
    MCQ 81
    In the total population of Pakistan, the share of Balochistan is approximately:
    MCQ 82
    Hydel power Stations of WAPDA' are generating electricity approximately:
    MCQ 83
    The total demand of power (electricity) in the country at present is approximately:
    MCQ 84
    What do you understand by the term "deflation"?
    MCQ 85
    In which of the following districts, the government of Pakistan has given incentives package to farmers for growing black tea on experimental basis?
    MCQ 86
    UNESCO required one country must spend at least one percent of its GDP on Science and Technology but Pakistan is spending only:
    MCQ 87
    In which division of Punjab, the ratio of males and females is equal?
    MCQ 88
    Which of the continents has the lowest population growth rate?
    MCQ 89
    With the present population growth rate, Pakistan would become world's 3rd most populated country by the year:
    MCQ 90
    In which Division of Punjab, the ratio of females in population is 10% more than males?
    MCQ 91
    Which is the most urbanized division of Punjab?
    MCQ 92
    In the ten (10) most populated cities of Pakistan, Sialkot is on number:
    MCQ 93
    In the ten most populated cities of Pakistan, Rawalpindi is on number:
    MCQ 94
    Which region of Punjab is free from water-logging Problem?
    MCQ 95
    What is the main reason of the flour crisis in the country?
    MCQ 96
    Identify the length of Islamabad-Peshawar section of Motorway:
    MCQ 97
    Which Division of Punjab produces maximum wheat crop?
    MCQ 98
    "Rawal" and "Hajveri" are the two varities of one of the following crops.
    MCQ 99
    The share of Cotton crop in the total cropped area of Punjab is approximately.
    MCQ 100
    Which division of the Punjab Produces maximum Sugarcane crop?
    MCQ 101
    Out of total wheat production in Pakistan. Punjab contributes around:
    MCQ 102
    The largest portion of saline area of land in Punjab is in:-
    MCQ 103
    The total area Pakistan has under forestation is estimated at:
    MCQ 104
    National income is the sum of
    MCQ 105
    G.D.P. (Gross Domestic Product) is the value of all goods and services:
    MCQ 106
    G.N.P. (Gross National Product) is the total value of goods and services:
    MCQ 107
    National income is essentially composed of
    MCQ 108
    Which of the following of Punjab has the lowest population. density?
    MCQ 109
    National income is essentially composed of
    MCQ 110
    The value of the vegetables a retired school teacher grows in his lawn is excluded from the calculation of national income because:
    MCQ 111
    Which of the following activity will be considered as investment?
    MCQ 112
    Real national income increases if:
    MCQ 113
    Identity the false statement among the followings:
    MCQ 114
    Per capita income is:
    MCQ 115
    Which of the following is a real cause for low per capital income of Pakistan?
    MCQ 116
    Economic development means:
    MCQ 117
    Which of the changes below is most likely to lead directly to an increase in the income growth rate?
    MCQ 118
    How much of GDP is spent on Agricultural Research in Pakistan?
    MCQ 119
    11 July every year is being celebrated under United Nations as "World Population Day" since:
    MCQ 120
    The main reason why cheques can be regarded as money is that:
    MCQ 121
    Which of the following statement is false?
    MCQ 122
    Economic planning means:
    MCQ 123
    Of all methods of payment, the recognized legal tender is:-
    MCQ 124
    Token coins are:
    MCQ 125
    Who issues one-rupee coin in Pakistan?
    MCQ 126
    Who issue two-rupee note in Pakistan?
    MCQ 127
    Who issue ten-rupee note in Pakistan?
    MCQ 128
    Which of the following statement is true?
    MCQ 129
    Which of the following statement is true?
    MCQ 130
    Which of the following statement is false?
    MCQ 131
    By value of money is meant?
    MCQ 132
    "Inflation" means that money:
    MCQ 133
    Inflation" may be defined as:
    MCQ 134
    According to "Tausing":
    MCQ 135
    Which of the following statement is true?
    MCQ 136
    Which of the following groups is most likely to benefit from inflation?
    MCQ 137
    Which of the following must be a result of inflation?
    MCQ 138
    Can money perform the following functions?
    MCQ 139
    Which of the following will be described as "cost push" inflation?
    MCQ 140
    Which of the following statement is false?
    MCQ 141
    Will the following benefit in real terms during a period of high and rising inflation:
    MCQ 142
    A stock exchange is:
    MCQ 143
    Which one of the following is not a function of a commercial. bank"
    MCQ 144
    The World's most populous city:
    MCQ 145
    In Asia, the highest density of population (5516 persona per sq. km.) was recorded in:
    MCQ 146
    Which of the following is regarded as a liability by choosing banks"
    MCQ 147
    Which of the following policies would be most appropriate for the State Bank of Pakistan to follow if it wished to make it more difficult for the commercial banks to grant loans?
    MCQ 148
    Which of the following items in the balance of payments accounts are invisible?
    MCQ 149
    Free Trade" means
    MCQ 150
    "Protection" means:
    MCQ 151
    Which of the following is not true?
    MCQ 152
    Which of the following is false statement?
    MCQ 153
    A country's visible balance is the difference between the:
    MCQ 154
    Which of the following items are not exports of Pakistan?
    MCQ 155
    Which of the following is not Pakistan's major imports?
    MCQ 156
    Which of the following statement is not false?
    MCQ 157
    Which of the following is not correct?
    MCQ 158
    Taxes which may be shifted from the person upon whom they are originally imposed to another person are:
    MCQ 159
    "Sales Tax" is ultimately paid by:
    MCQ 160
    An example of indirect tax is:
    MCQ 161
    Which of the following is true statement?
    MCQ 162
    A budget is best described as:
    MCQ 163
    Which of the following statement is false?
    MCQ 164
    A budget of deficit is one:
    MCQ 165
    Which of the following measures would the government take to finance its borrowing requirements?
    MCQ 166
    Which of the following is false statement?
    MCQ 167
    In a fully planned economy, who decided what would be produced:
    MCQ 168
    Which of the following is/are characteristics of mixed economies?
    MCQ 169
    Which of the following is/are true for a capitalist society?
    MCQ 170
    Which one of the following arguments can be used in favour of the market economy?
    MCQ 171
    Pakistan's largest export market is:
    MCQ 172
    Which of the following programmes was financially supported by UNICEF in Pakistan during 1982-1986?
    MCQ 173
    Under a capitalist system, the economic problem of "what goods" shall be produced is solved primarily by:
    MCQ 174
    The World's most populous city is:
    MCQ 175
    Pakistan's biggest and most powerful 'Radio Station' is:
    MCQ 176
    Which of the following countries could most aptly be described as having a fully centrally planned economy?
    MCQ 177
    In Punjab, the lowest density of population is in:
    MCQ 178
    Which of the following is a cash crop?
    MCQ 179
    One advantage for the capitalist system for allocating resources in economy is that it:
    MCQ 180
    Which of the following statement is true?
    MCQ 181
    Which of the characteristics of Islamic Economic System is/are true?
    MCQ 182
    "Zakat" is a charity on:
    MCQ 183
    Which of the following is correct? A Sahib-e-Nisab is a person who owns.
    MCQ 184
    In Islam, absolute ownership of property lies only with:
    MCQ 185
    Which of the following statement is wrong?
    MCQ 186
    From which of the following countries, Pakistan received the biggest share of workers remittances during the year 2000?
    MCQ 187
    World Trade Organization (WTO) was established in 1995. with the objective:
    MCQ 188
    Agricultural income tax in Pakistan will be levied on the farmers with land holdings of or more than:
    MCQ 189
    Which of the following European country has not adopted Europe currency?
    MCQ 190
    Under the Constitution of Pakistan. National Finance Commission distribute the amount from federal taxes to provinces on the basis of:
    MCQ 191
    According to a UN report, the number of hungry people (starving to death) in the world stands at:
    MCQ 192
    Kohat Tunnel Project is being completed with the financial aid of
    MCQ 193
    Mukran Coastal Highway" project is being completed with the assistance of:
    MCQ 194
    Which is the highest economic decision making organ in Pakistan?
    MCQ 195
    What is "Jingoism"?
    MCQ 196
    Which of the following "Gemstones" is found in Pakistan?
    MCQ 197
    Which of the following mobile phone company is in private sector?
    MCQ 198
    President General Pervaiz Musharraf inaugurated the first branch of Micro Finance Bank on August 11, 2000 at:-
    MCQ 199
    Under the Zakat fund, the amount being given to the deserving people is:
    MCQ 200
    The government has prepared a programme to increase the textile exports of the country by the name of
    MCQ 201
    Which of the following countries could most aptly be described as having a fully centrally planned economy?
    MCQ 202
    How many countries have joined WTO till September 2002
    MCQ 203
    In which of the South Asian Countries, the infant mortality rate is highest?
    MCQ 204
    Naryab Dam' in NWFP is being constructed in the district of:
    MCQ 205
    According to a UN report, the number of people in the world having no access to clean drinking water are:
    MCQ 206
    In this passage "gestures" mean:
    MCQ 207
    Who was appointed Caretaker Prime Minister when. National Assembly was dissolved on April 18, 1993"
    MCQ 208
    The government in Pakistan has recently withdrew sales tax on one of the following items:
    MCQ 209
    The demand of electricity is rising in Pakistan at the rate of
    MCQ 210
    Which part of Pakistan has lowest urban population?
    MCQ 211
    Which of the following countries first introduced paper currency in the world?
    MCQ 212
    The 6 National Finance Commission Award the share of provinces from the federal revenue has been increased from 37.5 percent to:
    MCQ 213
    The World's largest copper producer is:
    MCQ 214
    The World's largest producer of silk is:
    MCQ 215
    Under the 6th National Finance Commission Award the share of provinces from the federal revenue has been increased from 37.5 percent to:
    MCQ 216
    The share from federal revenue is given to the provinces according to their:-
    MCQ 217
    Identify the world's richest man and his organization:
    MCQ 218
    The people live below the poverty line earn less then:
    MCQ 219
    Identify Pakistan's largest gas fired power plant:
    MCQ 220
    After independence, the first industrial unit inaugurated by Quaid-i-Azam was
    MCQ 221
    An arrangement between a seller and buyer under which a period of credit is allowed before payment is called:
    MCQ 222
    The prices that are set by government rather than by negotiation between a seller and a buyer are known as
    MCQ 223
    What is the term for paid inform public? announcements to persuade and
    MCQ 224
    The inefficiencies associated with employing a representative to carry out a task for you rather than carrying it out yourself are known as in economical terms as
    MCQ 225
    In terms of economies a constant annual payment is called:
    MCQ 226
    The transaction in which the buyer of an item is selected after a number of buyers have made some willingness to pay for that item: is marked as
    MCQ 227
    The national economic self-sufficiency Le., exclusion from international trade pursued as a national policy is called:
    MCQ 228
    A check of accounting records conducted by a professional accountant to find out any fraud or discrepancies is termed as:
    MCQ 229
    What is the term for total sales value divided by the number of units sold and thus equals to average price is?
    MCQ 230
    The statement of the wealth of a business organization or individual on a given date usually the last day of the fiscal. year is termed as:
    MCQ 231
    What is the business of accepting deposits and lending money called?
    MCQ 232
    The declaration by a court of law that a company or individual is insolvent, ie, it cannot pay its debts on the due dates is known as
    MCQ 233
    The fixed interest security issued by governments, banks or other financial institutions is also termed
    MCQ 234
    The first class equity share, the purpose of which entails. little risk in earnings in recession is called:
    MCQ 235
    Underground economic activity that is not declared for taxation purposes is called
    MCQ 236
    A trade of goods and services in the exchange for other goods or services rather than for money is known as:
    MCQ 237
    In an organized market, an intermediary between a buyer and a seller is called:
    MCQ 238
    What is called if estimate of income and expenditure are for future as opposed to an account that records financial. transaction?
    MCQ 239
    The output from a process designed for the production of some other product. is called
    MCQ 240
    The asset that is capable of generating income and that have itself been produced is termed
    MCQ 241
    The production of a commodity in which a higher proportion. of capital is used is known as
    MCQ 242
    The market for long term loanable funds as different from the market that deals in short term loans is called:
    MCQ 243
    The total amount of physical capital in the economy or in a firm or industry is termed as
    MCQ 244
    An association of producers to regulate prices by restricting output and competition is called
    MCQ 245
    The most common example of an international cartel is the
    MCQ 246
    The flow of money payments to or from a firm is called "Cash Flow". Expenditure is sometimes referred to as:
    MCQ 247
    The banker's bank and lender of last resort is the
    MCQ 248
    A certificate that specifies the country of origin of an export or import is called
    MCQ 249
    The order written by the drawer to a commercial bank or central bank to pay on demand a particular sum to a bearer is referred to as
    MCQ 250
    A measurement of unemployment based on the number of people out of work and claiming unemployment benefits is called in terms of economic theory
    MCQ 251
    The dominant body of economic thinking, economic method and economic style in the period from 18th to 19th century is termed as
    MCQ 252
    The economic system with little or no external trade is called
    MCQ 253
    Privately owned banks operating cheque current accounts, receiving deposits, taking in and paying out notes and coins and making loans are generally called
    MCQ 254
    A percentage of the value of a transaction taken by an intermediary as payment for his services is called:
    MCQ 255
    In economic theory, a tangible good or service resulting from the process of production is known as
    MCQ 256
    Which of the following is an example of common market?
    MCQ 257
    The law governing the establishment and conduct of incorporated business enterprise is called
    MCQ 258
    The profits retained in the business and set aside for specified purposes are known as
    MCQ 259
    Pairs of goods for which consumption is interdependent e.g., cars and petrol or cups and saucers are known as:
    MCQ 260
    The interest due by applying the rate to the sum of the capital invested plus the interest previously earned and reinvested is referred to as
    MCQ 261
    Short-term loans to the public for the purchase of specific goods is called:
    MCQ 262
    An economic good or commodity purchased by households for final consumption is called:
    MCQ 263
    An index (index number) of the prices of goods and services purchased by consumers to measure the inflation rate or the cost of living is called
    MCQ 264
    The use of resources to satisfy current needs and wants is called:
    MCQ 265
    A statement of the rights and obligations of each party to a transaction or transactions is called:
    MCQ 266
    A business function concerned with the formulation of long term objectives and the development of plans to achieve them is called:
    MCQ 267
    A piece of paper entitling the owner to money payments, cut- price or free goods or rations is called
    MCQ 268
    A measure of the expectation of the population that the government, or monetary authorities will adhere to policies delivering low inflation is called
    MCQ 269
    Credit is the use or possession of goods without immediate payment. Which of the following is a type of credit?
    MCQ 270
    A plastic, personal magnetized card with the name and account number of the holder and the expiry date embossed is referred to as:
    MCQ 271
    One to whom an amount of money is due is called:
    MCQ 272
    Which of the following is referred to as international. currency because it is regarded as acceptable for the settlement of international debts?
    MCQ 273
    The bank account on which deposits do not earn interest, but can be with drawn by cheque at any time is called:
    MCQ 274
    Prices unadjusted for changes in the purchasing power of money are called:
    MCQ 275
    The practice of searching for correlation in data with the purpose of generating theoretical hypotheses is called
    MCQ 276
    A cartel is an organization formed by producers. Its objectives are:
    MCQ 277
    A loss in social welfare deriving from a policy or action that has no corresponding gain is called:
    MCQ 278
    The number of deaths occurring in any year for overy 1000 of the population is referred to as
    MCQ 279
    A sum of money or other property owed by one person or organization to another is called
    MCQ 280
    One who owes money to another is known as
    MCQ 281
    The rebate or discount where ordinary share on a purchase that is accumulated for a particular period to encourage customers to remain with a specific supplier is called:
    MCQ 282
    The excess of an expenditure flow over an income flow is termed as
    MCQ 283
    The use of borrowing to finance an excess of expenditure over income is known as:
    MCQ 284
    A sustained reduction in the general level of prices is called:
    MCQ 285
    A decline in the share of manufacturing sector in national income is termed as:
    MCQ 286
    The desire for a particular good or service supported by the possession of the necessary means of exchange to effect ownership is called:
    MCQ 287
    The scenario that western countries face a crisis in the next few decades caused by the aging of their populations is termed as:
    MCQ 288
    The branch of economics concerned with the rate at which natural resources are consumed over time is called
    MCQ 289
    Money placed in an account at a financial institution and constituting a claim on it is known as
    MCQ 290
    The account with a bank or other financial institution in which deposits earn interest and withdraws from which require notice is referred to as
    MCQ 291
    The reduction in value of an asset as reduction in the value of currency is known as:
    MCQ 292
    A downturn in the business cycle in which there is a sustained high level of unemployment is called
    MCQ 293
    The process of invigorating activity in a sector of the economy by reducing the government controls that have the effect of creating barriers to entry is called
    MCQ 294
    The reduction of the fixed official rate at which one currency is exchanged for another in a fixed exchange rate regime is termed:
    MCQ 295
    Investment in the foreign operations of a company through acquisition of a foreign operation, or establishment of a new site is called:
    MCQ 296
    Taxation on the income and resources of individuals or organization is known as:
    MCQ 297
    A deduction from face value is referred to as:
    MCQ 298
    The extension in the range of goods and services in a firm or geographic region is called:
    MCQ 299
    The amount of a company's profit that the board of directors. decides to distribute to ordinary shareholders is known as:
    MCQ 300
    The allocation of labour such that each worker specializes in one or a few functions in the production process is known as:
    MCQ 301
    The situation in which the same tax base is taxed more than once is called:
    MCQ 302
    A daily index of prices on the principal stock exchange in New York is called:
    MCQ 303
    Large-scale shedding of employees by major corporations sometimes referred to the disposal of subsidiaries and other unwanted activities is called:
    MCQ 304
    Two sellers only of a good or service in a market. This situation is
    MCQ 305
    Consumer goods that yield services or utility over time rather than being used up instantly are termed as
    MCQ 306
    The setting up of mathematical models describing economic relationship testing the validity of such hypotheses is termed as:
    MCQ 307
    Any physical object, natural or man made, or service. renderal: that could command a price in market is called:
    MCQ 308
    The exploitation of countries is called: developing countries by advanced.
    MCQ 309
    A measure taken in respect of economic activity that has the intention of damage to another country's economy is called:
    MCQ 310
    Which sector is the largest and fastest growing sector of the world economy, providing more than 60% of global output?
    MCQ 311
    The non-discrimination principle means treating one's trading partners equally. It guarantees equal opportunities for suppliers from all World Trade Organization members. It is called:
    MCQ 312
    The World Trade Organization (WTO) is the only international body dealing with the rules of trade between. nations. The World Trade Organization began life on 1st of
    MCQ 313
    The main objectives of the World Trade Organization are
    MCQ 314
    The General Agreement on Tariffs and Trade (GATT) is the predecessor of World Trade Organization. It entered into force in.
    MCQ 315
    In 1947 how many states did take part in the General Agreement on Tariffs and Trade trade round in Geneva?
    MCQ 316
    The first director general of General Agreement on Tariffs and Trade from 1948-68 was
    MCQ 317
    In 1999, who became the third director general of World Trade Organization?
    MCQ 318
    The General Agreement on Tariffs and Trade trade rounds concentrated on reducing tariffs. Which round was the first major attempt to tackle trade barriers and to improve the system? This eighth round is called:
    MCQ 319
    . Which trade round was the latest and most extensive of all and it finally led to the World Trade Organization and a new set of agreements. It lasted from 1986 to 1994.
    MCQ 320
    The 1986-1994 Uruguay Round achieved agrement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Which of the following are the types of intellectual property?
    MCQ 321
    Topmost authority of World Trade Organization is the ministerial conference which has to meet at least once every
    MCQ 322
    The "Ouadrilaterals" or the "Quad" are the four largest members. Besides European Union others are
    MCQ 323
    On 9-13 November, 2001 the World Trade Organization's Fourth Ministerial Conference held in:
    MCQ 324
    The World Trade Organization secretariat is headed by a director-general, has around 500 staff and is based in:
    MCQ 325
    Which of the following is the website address of the World Trade Organization?
    MCQ 326
    By the end of June 2002, the World Trade Organization had 144 members and around 34 observer governments. With how many years of becoming observers, these observers. must start accession negotiations?
    MCQ 327
    Which law of economics states that "with given preferences or tastes, the proportion of income spent on food diminishes as income increase"?
    MCQ 328
    The economic agent who perceives market opportunities and assembles the factors of production to exploit them in a firm is referred to as
    MCQ 329
    The residual value of a company's assets after all outside liabilities have been allowed for is called
    MCQ 330
    Enterprise is the controlling unit of a business. The operating unit of a business is called:
    MCQ 331
    The difference between the amount produced by a firm and the higher amount that could most efficiently be produced is termed as:
    MCQ 332
    The control by the state through the banking system of dealings in gold and foreign currencies is called
    MCQ 333
    The price at which one currency is exchanged for another currency is known as:
    MCQ 334
    Indirect taxies levied upon goods produced for home consumption are called:
    MCQ 335
    Preferential treatment for firms that sell their products abroad, compared with firms that sell to the home market; is called:
    MCQ 336
    The goods and services produced by one country that are sold in exchange for the second country's own goods and services or for foreign exchange are called
    MCQ 337
    The ratio of the total increase in a country's national income to the increment in export revenue generating the increase is called:
    MCQ 338
    Goods which are produced for consumption rather than as an intermediate product used in the process of production. are referred to as
    MCQ 339
    The provision of money when and where needed is called:
    MCQ 340
    The period of account used for financial purposes is known as
    MCQ 341
    The budgetary stance of central government is called:
    MCQ 342
    The capital that is not invested in fixed assets but the work in process is called:
    MCQ 343
    The administered transfer of resources from the advanced countries to the developing countries for the purpose of encouraging economic growth is called:
    MCQ 344
    Claims on another country held in the form of the currency of that country are known as:
    MCQ 345
    The contractual arrangement under which an independent franchisee produces or sells a product or service under the brand name of the franchiser is known as
    MCQ 346
    A market in which supply and demand are not subject to regulation other than normal competition policy is termed:
    MCQ 347
    What is meant by foreign investment?
    MCQ 348
    The condition in which the independent flow of goods and services in international exchange is neither restricted nor encouraged by direct government intervention is known as:
    MCQ 349
    Non-wage or salary rewards provided for employees are called:
    MCQ 350
    The process of converting short term to long term debt by the sale of long term securities and using the funds raised to pay off short-term debt is called:
    MCQ 351
    The branch of the social science that covers the study of the production, distribution and consumption of wealth in human society is known as:
    MCQ 352
    Which British philosopher and economist is regarded as "founder of modern Economics"?
    MCQ 353
    Which famous thinker and economic philosopher said. "Religion... is the opium of the people."?
    MCQ 354
    Who was awarded Nobel Prize of Economics in 1998?
    MCQ 355
    Who got the first Nobel Prize in Economics in 1969
    MCQ 356
    What is Game Theory?
    MCQ 357
    A commodity for which demand increases at higher prices and falls at lower prices is termed as:
    MCQ 358
    The geographical shifts in domestic economic activity around the world and away from nation states is called:
    MCQ 359
    The stocks of gold and foreign currencies held by a country to finance any calls that may be made from its creditors for the debt settlement are known as
    MCQ 360
    The measure of the total flow of goods and services produced by the economy over a specified time period, normally a year or a quarter is referred to as
    MCQ 361
    The currency traded in a foreign exchange market for which demand is persistently high relative to supply is called:
    MCQ 362
    The action taken by a buyer or seller to product his business or assets against a change in prices is called
    MCQ 363
    The theory that all human action is motivated by pleasure and the avoidance of pain or the ethic that it should be so motivated. Such theory is termed as
    MCQ 364
    The accumulation of idle money balances or inactive money is called:
    MCQ 365
    Funds that flow into a country to take advantage of favourable rates of interest in that country are known as
    MCQ 366
    The skills and knowledge embodied in the labour force are termed as.
    MCQ 367
    What is the term used for the flow of goods and services that enter for sale into one country and which is product of another country?
    MCQ 368
    The flow of goods or services to any economic agent or unit is called:
    MCQ 369
    The persistent increases in the general level of prices is known as:
    MCQ 370
    What is the term used for airports, roads, railways, sewage, telephone and other public utilities?
    MCQ 371
    The contract to pay a premium for which the insurer will pay compensation in certain happenings e.g., fire theft or motor accident is termed as:
    MCQ 372
    The charge made for the use of borrowed money levied as a percentage of the amount of debt is refered to as:
    MCQ 373
    The amount of gold reserve, currencies and special drawing rights available for the finance of international trade is called:
    MCQ 374
    What is the term for stocks of raw materials work in progress and finished goods?
    MCQ 375
    The real capital formation e.g.. the production or maintenance of machinary or construction that will produce a stream of goods and services is called
    MCQ 376
    The demand for two or more commodities or factor of production that are used together so that a change in demand for one will be reflected in a change in demand for other e.g., cloth and thread is called
    MCQ 377
    The business arrangement in which two companies invest in a project over which both have partial control is termed as:
    MCQ 378
    The total number of people in a country who are in work or unemployed but looking for work, is called:
    MCQ 379
    An agreement between the owner of a property to grant use of it to another party for a specified period at specified rent payable annually is called:
    MCQ 380
    In 1971, United Nations Conference on Trade and Development (UNCTAD) drew up a list of 24 countries having a GDP of 100 or less literacy rate of 20% or less and a share of manufacturing of 10% or less of GDP. These countries were referred to as:
    MCQ 381
    A non-negotiable order of a bank to a foreign bank authorizing payment to a person designated of a particular sum of money is known as:
    MCQ 382
    Sums of money for which account has to be made are called:
    MCQ 383
    The degree to which an asset can be quickly and cheaply turned into money, is termed as:
    MCQ 384
    The borrowing of a sum of money by one person, company, government or other organization from another is called:
    MCQ 385
    The study of whole economic systems aggregating over the functioning of individual units. Specifically, it is study of national economies and the determination of national income. It is known as
    MCQ 386
    The degree to which a firm exercise influence over the price and output in a particular market is called:
    MCQ 387
    Thomas Robert Malthus (1766 1834) was a British economist who is remembered for his essays on population. In his which famous work he said, "Population, when unchecked, increases in a geometrical ratio. Subsistence only increases in an arithmetical ratio."?
    MCQ 388
    Adam Smith (1723-1790) was a British economist and philosopher. Which treatise of Adam Smith is considered the first serious attempt in the history of economics to divorce the study of political economy from the related fields of political science, ethics and jurisprudence?
    MCQ 389
    Karl Marx (1818-1883) was a German political philosopher and economist. He is one of the most influential thinkers of all times. Which of the following is his work?
    MCQ 390
    The Communist Manifesto appeared in 1848. It is regarded as a classic exposition of modern Communist views and it influenced all subsequent Communist literature. Karl Marx completed it alongwith
    MCQ 391
    The first volume of Karl Marx's greatest work Das kapital. was published in 1887. The next two volumes were published posthumously. Who edited those volumes?
    MCQ 392
    The branch of economics concerned with how businesses raise and spend their money is known as
    MCQ 393
    The branch of economics concerned with providing funds to individuals, business and governments is called:
    MCQ 394
    The fusion of two or more separate companies into one is referred to as:
    MCQ 395
    Legislation prohibiting the specified level is known as paying of wages below some
    MCQ 396
    The market economy in which both private and public. enterprises participate in economic activity is called:
    MCQ 397
    The theory of macroeconomics which holds that increases in the money supply are a necessary and sufficient condition for inflation, is called
    MCQ 398
    The functions of sales, distribution, advertising and sales promotion, product planning and market research are termed as:
    MCQ 399
    European Recovery Program (ERP) was a United States program of financial assistance that helped to rebuild European nations devastated by World War II. This program is commonly called
    MCQ 400
    An early modern European economic theory that trade. generates wealth of bullion which a government should encourage by promoting exports and restricting imports is called:
    MCQ 401
    The branch of economics at the level of individual consumers groups of consumers or firms is known as:
    MCQ 402
    The economic situation in which only a single seller or producer supplies a commodity or a service is called:
    MCQ 403
    The legal instrument that pledges a house or other real estate as security for repayment of a loan is called:
    MCQ 404
    The international trade and exchange between more than two countries without discrimination between those involved. is called:
    MCQ 405
    An industry in which technical factors preclude the efficient existence of more than one producer. This situation is called:
    MCQ 406
    Commodities or assets with some economic value which. exist without any effort of mankind, are called:
    MCQ 407
    1994 Nobel Prize for Economics was awarded to a American. mathematician for his most important concept of equilibrium as applied to game theory. His name was
    MCQ 408
    The reduction in the useful life of a capital good or consumer good through economic or technological change as distinct from physical deterioration in use is termed as:
    MCQ 409
    A market that is dominated by a few large suppliers is known as:
    MCQ 410
    A loan facility on the customer's current account at a bank permitting him to withdraw up to a certain agreed limit for an agreed period, is referred to as:
    MCQ 411
    The situation in which aggregate demand in the economy is growing at a rate reliable to lead to inflation is called:
    MCQ 412
    An unincorporated business formed by the association of two or more persons who share risks and profits is called:
    MCQ 413
    The period over which the cumulative net revenue from an investment project equals the original investment is known as:
    MCQ 414
    Sums of money laid aside and normally invested to provide a regular income on retirement or in compensation for disablement for the remainder of a person's life is called:
    MCQ 415
    A bank loan made without collateral security to a private customer for specific purposes is called:
    MCQ 416
    What is the informal name for annual publication "United Kingdom Balance of Payments"?
    MCQ 417
    The system of agricultural support by which market prices. are fixed at above free market levels and government buys surpluses, thus supporting prices and raising farmer's income is called:
    MCQ 418
    The part of the economy in which economy activity is carried on by private enterprise is termed:
    MCQ 419
    The sale of government owned equity in nationalized industries or other commercial enterprises to private investors is called:
    MCQ 420
    The sale of shares on the stock exchange in order to realize capital appreciation is known as:
    MCQ 421
    A legal document between a lender and a borrower whereby the later agrees to certain conditions for the repayment of the sum of money borrowed; is called:
    MCQ 422
    The proportion of a sum of money that is paid over a specified time period in payment for its loan is called:
    MCQ 423
    The net profit after depreciation as a percentage of average capital employed in a business is known as:
    MCQ 424
    The term used to describe a sharp slowdown in the rate of economic growth or a modest decline in economic activity is called:
    MCQ 425
    Scarce inputs that can yield utility through production or provision of goods and services are referred to as
    MCQ 426
    A tax levied as a proportion of the retail price of al commodity at the point of sale is called:
    MCQ 427
    What is the term for generating capital from income?
    MCQ 428
    The total increase in the welfare of society from an economie action is called:
    MCQ 429
    A loan bearing either no rate of interest or an interest rate which is below the true cost of capital lent is known as
    MCQ 430
    Buying and selling with a view to buying and selling at a profit later when the prices have changed is termed:
    MCQ 431
    The quantity of goods and services consumed by an individual or a household is called:
    MCQ 432
    What is the name given to companies legally controlled by other companies?
    MCQ 433
    Government grants to suppliers of goods and services is called:
    MCQ 434
    The notion that economic development should proceed at a pace and in a manner that will conserve the environment and depletible natural resources is called:
    MCQ 435
    Arranging one's financial affairs within the law so as to minimize taxation liabilities is known as
    MCQ 436
    The compulsory transfer of money from private individuals, institutions or groups to the government is called:
    MCQ 437
    A trade barrier is any government limitation on the free international exchange of merchandise. Which of these is an instance of trade barrier?
    MCQ 438
    The excess of the value of imports of goods and services over the value of exports of goods and services is called:
    MCQ 439
    In UK, who is the first Lord of the Treasury?
    MCQ 440
    Instruments for short-term are called: borrowing by the government
    MCQ 441
    The total sales revenue of a business is called:
    MCQ 442
    Variable costs are those that vary directly with the rate of output e.g., labour costs, fuel and power etc., These are also known as:
    MCQ 443
    The part of current assets financed from long term funds is called:
    MCQ 444
    In economies, Gold Standard is the monetary system where in all form of legal tender may be converted on demand, into fixed quantities of gold. In 1816, the first country to go on the gold standard was:
    MCQ 445
    A type of association usually formed by banks or railroads as a central agency where members can settle accounts is known as:
    MCQ 446
    The type of currency issued by government as legal tender the value of which is based solely on decree or law rather than actual coin or precious metal reserves is termed as:
    MCQ 447
    Bimetallism is the monetary policy based on the use of two metals, as legal tender without limit and equalized by law in a fixed ratio. Which are these two metals?
    MCQ 448
    An association of individuals or corporations formed to conduct a specific financial transaction such as buying a business is known as:
    MCQ 449
    The sixth Nobel Prize for Economies was introduced in 1969 in memory of Alfred Nobel. It is financed by