MCQOPTIONS
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MCQOPTIONS
This section includes 864 Mcqs, each offering curated multiple-choice questions to sharpen your General Knowledge (GK) knowledge and support exam preparation. Choose a topic below to get started.
| 301. |
The General Agreement on Tariffs and Trade (GATT) is the predecessor of World Trade Organization. It entered into force in. |
| A. | January 1946 |
| B. | January 1947 |
| C. | January 1948 |
| D. | January 1949 |
| Answer» D. January 1949 | |
| 302. |
After independence, the first industrial unit inaugurated by Quaid-i-Azam was: |
| A. | Adamjee Paper Mills |
| B. | Valika Textile Mills |
| C. | Karachi Shipyard and Engineering Works |
| D. | Pakistan Jute Mills |
| Answer» C. Karachi Shipyard and Engineering Works | |
| 303. |
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: |
| A. | Most-Favoured Nation (MFN) |
| B. | South Asian Free Trade Area (SAFTA) |
| C. | General Agreement on Tariffs and Trade (GATT) |
| D. | None of the above |
| Answer» B. South Asian Free Trade Area (SAFTA) | |
| 304. |
A trade barrier is any government limitation on the free international exchange of merchandise. Which of these is an instance of trade barrier? |
| A. | Tariffs |
| B. | Quotas |
| C. | Import deposit |
| D. | All of the above |
| Answer» E. | |
| 305. |
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? |
| A. | Theory of Moral Sentiments |
| B. | The Wealth of Nations |
| C. | Principles of Political Economy |
| D. | Illustrations of Political Economy |
| Answer» C. Principles of Political Economy | |
| 306. |
In 1947 how many states did take part in the General Agreement on Tariffs and Trade trade round in Geneva? |
| A. | 13 |
| B. | 23 |
| C. | 33 |
| D. | 43 |
| Answer» C. 33 | |
| 307. |
In the balance of payments account, unrequited receipts and payments are also regarded as - |
| A. | bilateral transfers |
| B. | unilateral transfers |
| C. | capital account transfers |
| D. | invisible transfers |
| Answer» C. capital account transfers | |
| 308. |
Which one of following represents the Savings of the Private Corporate Sector? |
| A. | Dividends paid to shareholders |
| B. | Total profits of a company |
| C. | Undistributed profits |
| D. | Excess of income over expenditure |
| Answer» D. Excess of income over expenditure | |
| 309. |
"Wall Street" is the name of the : |
| A. | Stock Exchange of New York |
| B. | Indian Township in Washington |
| C. | Super market in Munthai |
| D. | Stock Exchange of kolkata |
| Answer» B. Indian Township in Washington | |
| 310. |
Green banking means - |
| A. | development of forestry by banks |
| B. | financing of environmental friendly projects by banks |
| C. | financing of irrigation projects by banks |
| D. | None of the above |
| Answer» C. financing of irrigation projects by banks | |
| 311. |
The business in Stock Markets and other securities markets is regulated - |
| A. | Securities and Exchange Board of India |
| B. | Sole Trade and Exchange Bank of India |
| C. | State and Exchange Bank of India |
| D. | Stock and Exchange Bank of India |
| Answer» B. Sole Trade and Exchange Bank of India | |
| 312. |
Imputed gross rent of owner-occupied buildings is a part of - |
| A. | capital formation |
| B. | final consumption |
| C. | intermediate consumption |
| D. | consumer durable |
| Answer» C. intermediate consumption | |
| 313. |
Liberalism stands for - |
| A. | religious orthodoxy |
| B. | a (movement and an attitude |
| C. | self-emancipation |
| D. | freedom in social, political and economic aspects |
| Answer» E. | |
| 314. |
An increase in per capital income is not an indication of an increase in the economic welfare of the people - |
| A. | When such increase is the result of an increased production action of comforts |
| B. | When such increase is the result of an increase in agricultural production |
| C. | When it is the result of an increase in the production of industrial goods |
| D. | When such increase is the result of increased production of intoxicants |
| Answer» E. | |
| 315. |
Average propensity to consume is defined as - |
| A. | Aggregate consumption +Total population |
| B. | Aggregate income Aggregate consumption |
| C. | Change in consumption Change in income |
| D. | Aggregate consumption +Aggregate income |
| Answer» E. | |
| 316. |
The provision of money when and where needed is called: |
| A. | Business |
| B. | Economics |
| C. | Finance |
| D. | Trade |
| Answer» D. Trade | |
| 317. |
President General Pervaiz Musharraf inaugurated the first branch of Micro Finance Bank on August 11, 2000 at:- |
| A. | D.G. Khan |
| B. | Lahore |
| C. | Multan |
| D. | Jhelum |
| Answer» B. Lahore | |
| 318. |
motion that seeks to reduce the amount of demand presented by government to Re. 1/is known as - |
| A. | Disapproval of policy Cut |
| B. | Token cut |
| C. | Economy cut |
| D. | Vote on account |
| Answer» B. Token cut | |
| 319. |
An indiference curve measures level of satisfaction derived from different combinations of commodity X and Y. |
| A. | same |
| B. | higher |
| C. | lower |
| D. | minimum |
| Answer» B. higher | |
| 320. |
The excess of price a person is to pay rather than forego the consumption of the commodity is called - |
| A. | Price |
| B. | Profit |
| C. | Producers' surplus |
| D. | Consumer's surplus |
| Answer» D. Consumer's surplus | |
| 321. |
In the law of demand, the statement "Other things remain constant" means - |
| A. | income of consumer should not change |
| B. | price of other goods should not change |
| C. | taste of consumer should not change |
| D. | All of the above |
| Answer» E. | |
| 322. |
When the price of a commodity falls, we can expect - |
| A. | the supply of it to increase |
| B. | the demand for it to fall |
| C. | the demand for it to stay constant |
| D. | the demand for it to increase |
| Answer» E. | |
| 323. |
What is Value Added Tax (VAT)? |
| A. | A simple, transparent, easy to pay tax imposed on consumers |
| B. | A new initiative taken by the Government to increase the tax-burden of high income groups |
| C. | A single tax that replaces State taxes like, surcharge, turnover tax, etc. |
| D. | A new tax to be imposed on the producers of capital goods |
| Answer» D. A new tax to be imposed on the producers of capital goods | |
| 324. |
In 1999, who became the third director general of World Trade Organization? |
| A. | Olivier Long (Switzerland) |
| B. | Renato Ruggiero (Italy) |
| C. | Peter Sutherland (Irela |
| Answer» E. | |
| 325. |
The first director general of General Agreement on Tariffs and Trade from 1948-68 was |
| A. | Sir Eric Wyndham White (UK) |
| B. | Mike Moore (New Zealand) |
| C. | Don McKinon (New Zeala |
| Answer» B. Mike Moore (New Zealand) | |
| 326. |
Topmost authority of World Trade Organization is the ministerial conference which has to meet at least once every |
| A. | 1 year |
| B. | 2 years |
| C. | 3 years |
| D. | 4 years |
| Answer» C. 3 years | |
| 327. |
The administered transfer of resources from the advanced countries to the developing countries for the purpose of encouraging economic growth is called: |
| A. | Foreign Exchange |
| B. | Foreign Balance |
| C. | Foreign Aid |
| D. | Foreign Reserves |
| Answer» D. Foreign Reserves | |
| 328. |
The accumulation of idle money balances or inactive money is called: |
| A. | Wealth |
| B. | Hoarding |
| C. | Capital |
| D. | Investment |
| Answer» C. Capital | |
| 329. |
Bank deposits that can be withdrawn without notice are called - |
| A. | account payee deposits |
| B. | fixed deposits |
| C. | variable deposits |
| D. | demand deposits |
| Answer» E. | |
| 330. |
Which among (he following is not the outcome of decrease in prime lending rate? |
| A. | to raise the bank loan |
| B. | decline in saving rate |
| C. | decline in productivity |
| D. | increased demand of consumer products |
| Answer» D. increased demand of consumer products | |
| 331. |
The account with a bank or other financial institution in which deposits earn interest and withdraws from which require notice is referred to as: |
| A. | Deposit Account |
| B. | Current Account |
| C. | Profit-Loss Account |
| D. | None of the above |
| Answer» B. Current Account | |
| 332. |
Enterprise is the controlling unit of a business. The operating unit of a business is called: |
| A. | Firm |
| B. | Establishment |
| C. | Bureaucracy |
| D. | Organization |
| Answer» C. Bureaucracy | |
| 333. |
By whom was the autonomous investment separated from induced investment? |
| A. | Schumpeter |
| B. | Malthus |
| C. | Joan Robinson |
| D. | Adam Smith |
| Answer» B. Malthus | |
| 334. |
Investment multiplier shows the effect of investment on - |
| A. | Employment |
| B. | Savings |
| C. | Income |
| D. | Consumption |
| Answer» D. Consumption | |
| 335. |
The profits retained in the business and set aside for specified purposes are known as |
| A. | Company Shares |
| B. | Company Assets |
| C. | Company Reserves |
| D. | Company Gains |
| Answer» D. Company Gains | |
| 336. |
Value-added means value of - |
| A. | output at factor cost |
| B. | output at market prices |
| C. | goods and services less depreciation |
| D. | goods and services less cost of intermediate goods and services |
| Answer» E. | |
| 337. |
The banker s bank and lender of last resort is the |
| A. | Commercial Bank |
| B. | Investment Bank |
| C. | Central Bank |
| D. | All of the above |
| Answer» D. All of the above | |
| 338. |
A loan bearing either no rate of interest or an interest rate which is below the true cost of capital lent is known as: |
| A. | Soft Loan |
| B. | Personal Loan |
| C. | Finance |
| D. | Credit |
| Answer» B. Personal Loan | |
| 339. |
Kinked demand curve is a feature of - |
| A. | Monopoly |
| B. | Oligopoly |
| C. | Monopsony |
| D. | Duopoly |
| Answer» C. Monopsony | |
| 340. |
"Smart Money" term is used for - |
| A. | Credit Card |
| B. | Internet Banking |
| C. | eBanking |
| D. | Cash with Public |
| Answer» B. Internet Banking | |
| 341. |
The theory of macroeconomics which holds that increases in the money supply are a necessary and sufficient condition for inflation, is called |
| A. | Capitalism |
| B. | Socialism |
| C. | Monetarism |
| D. | Communism |
| Answer» D. Communism | |
| 342. |
In a period of inflation and price rises the supply of money remains - |
| A. | the same |
| B. | increases |
| C. | decreases |
| D. | increases or decreases pro-portionately. |
| Answer» C. decreases | |
| 343. |
Economics classifies the manmade instrument of production as: |
| A. | Organization |
| B. | Capital |
| C. | equipment |
| D. | labour |
| Answer» C. equipment | |
| 344. |
The World s largest producer of silk is: |
| A. | Malaysia |
| B. | Bangladesh |
| C. | China |
| D. | India |
| Answer» D. India | |
| 345. |
"Inflation" means that money: |
| A. | Rises in value |
| B. | Falls in value |
| C. | Become scarce |
| D. | becomes larger in denomination |
| Answer» C. Become scarce | |
| 346. |
The World s largest copper producer is: |
| A. | China |
| B. | Chile |
| C. | Brazil |
| D. | Russia |
| Answer» C. Brazil | |
| 347. |
The supply-side measure to control inflation is - |
| A. | Reducing public expenditure |
| B. | Price control through Public Distribution System |
| C. | Higher taxation to mop up liquidity |
| D. | Credit control |
| Answer» C. Higher taxation to mop up liquidity | |
| 348. |
The main objectives of the World Trade Organization are |
| A. | To help trade flow as freely as possible. |
| B. | To serve as a form for trade negotiations |
| C. | To settle dispute between conflicting trade interests |
| D. | All of the above |
| Answer» E. | |
| 349. |
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: |
| A. | Letter of Credit |
| B. | Circular Letter of Credit |
| C. | Letter of Reference |
| D. | None of the above |
| Answer» B. Circular Letter of Credit | |
| 350. |
Which of the continents has the lowest population growth rate? |
| A. | Asia |
| B. | Australia |
| C. | North America |
| D. | Europe |
| Answer» E. | |