Economics Mcqs Set 2

21.  Embargoes are designed to:

(a)  Promote trade of prohibited goods

(b)  Restrict trade of particular commodities

(c)  Restrict trade of drugs

(d)  None of the above

22.  When a group of countries have removed all tariffs quotas

and export subsidies on trade among themselves  –  that is

called:

(a)  Laissez faire  (b)  Liberal Trade region

(c)  Free Trade zone  (d)  All of the above one

23.  Which one among the following statements is truly explain

the `Laissez Faire' theory?

(a)  State should refrain from all intervention in economic

affairs

(b)  State should manage every field of economic activities

for the benefit of the public

(c)  There should be fair distribution of wealth in the society

(d)  None of the above one

24.  The lowest number of people living below the poverty line

among the SAARC Countries are in:

(a)  Bangladesh  (b)Pakistan

(c)  Nepal  (d)  Sri Lanka

25.  Family Planning in rural areas hampered mainly due to:

(a)  Deficiency in planning

(b)  Lack of knowledge

(c)  Psychological and Social Orthodoxy

Economics  5

(d)  Non-availability of devices

26.  Both-way trade between two countries is also known

as:

(a)  Government Expenditure

(b)  Fiscal Revenue

(c)  Volume of Trade

(d)  Terms of Trade

27.  Trade by exchange of Commodities is called:

(a)  International Trade  (b)  Foreign Exchange

(c)  Line of Credit  (d)  Barter Trade

28.  Tax on a Commodity according to its volume

is:

(a)  Real tax  (b)  Direct Tax

(c)  Indirect Tax  (d)  Ad Valorem Tax

29.  Who is the first Tax Mohtasib of Pakistan?

(a)  Justice (R) Saleem Kazmi

(b)  Justice (R) Allah Nawaz

(c)  Justice (R) Ijaz Nisar

(d)  Justice (R) Saleem Akhtar

30.  Safety stock of grains held by the government is:

(a)  Surplus stock  (b)  Overhead stock

(c)  Buffer stock  (d)  Overall stock

31.  The lowest price below which a thing will not be sold is

called its:

(a)  Floor price  (b)  Ceiling price

(c)  Real price  (d)  Average price

32.  When no tariffs are imposed on exports and imports, it is

called:

(a)  Two way trade  (b)  Exchange trade

(c)  Free trade  (d)  Selective trade

33.  An economy when private and government enterprises both

operates, is:

(a)  Free economy  (b)  Closed economy

(c)  Joint economy  (d)  Mixed economy

6  General Knowledge – MCQs

34.  Agreement between two countries is:

(a)Multi lateral agreement  (b)  Bilateral agreement

(c)  Single agreement  (d)  Special agreement

35.  Family Planning Programme was started in Pakistan in:

(a)  1952  (b)  1955

(c)  1957  (d)  1959

36.  What percentage of population in Pakistan is under the age

of 15?

(a)  38%  (b)  40%

(c)  45%  (d)  50%

37.  A free port is the port where:

(a)  Less duties are paid

(b)  No duties and no restrictions

(c)  Selective duties are paid

(d)  Restrictions on imports but not on exports

38.  Which country has maximum foreign project investments in

Pakistan?

(a)  USA  (b)  U.K

(c)China  (d)  Japan

39.  What do you understand by the term "Kerb" in foreign

currency dealings:

(a)  The exchange rate of currencies in the open market

(b)  The exchange rate of currencies determined by the State

Bank of Pakistan

(c)  All sort of Monetary dealings in foreign currencies

within the stock exchange

(d)  None of the above one

40.  Financial year of USA starts from:

(a)  1st January  (b)  1st March

(c)  1st July  (d)  1st April

41.  In the budget 2001-2002, the government has decided to

wind-up one of the following privilege of the new employees:

(a)  House rent  (b)  Benevolent fund

(c)  Pension  (d)  None of the above

Economics  7

42.  In the budget 2001-2002, the largest sector of current

expenditure is allocated on:

(a)  Defence

(b)  Subsidies

(c)  Running of civil government

(d)  Debt servicing

43.  In the budget 2001, 2002, what amount the government has

allocated to undertake new water projects in the country:

(a)  Rs. 2 billion  (b)  Rs. 4 billion

(c)  Rs. 5 billion  (d)  Rs. 3 billion

44.  General Sales  Tax, under the constitution 1973

is a:

(a)  Federal Subject  (b)  Provincial Subject

(c)  Concurrent subject  (d)  None of the above one

45.  Which of the following country will provide financial aid for

the construction of Gwadar Port and Makran Coastal

highway in Balochistan?

(a)China  (b)  Canada

(c)  USA  (d)  Russia

46.  The world's most Powerful super computer is called:

(a)  ASCI White  (b)  ASCI Red

(c)  ASCI Pink  (d)  None of the above

47.  The outflow of the best and brightest students from

developing countries is called:

(a)  Migration of intellectual

(b)  Shift of Brain

(c)  Brain drain

(d)  Transfer of mind

48.  Which five year plan of Pakistan is yet to be implemented?

(a)7th  (b)8th

(c)9th  (d)  10th

49.  The per capita income of Pakistan is approximately:

(a)  350 US Dollars  (b)  408 US Dollars

(c)  483 US Dollars  (d)  503 US Dollars

8  General Knowledge – MCQs

50.  Which province has the highest literacy rate?

(a)  N.W.F.P.  (b)  Balochistan (c)  Punjab  (d)  Sindh Answers.   21b  22c  23a  24d 25b  26c  27d  28d  29d  30b 31a  32c  33d  34b  35a  36c 37b  38c  39a  40c  41d  42c 43d  44a  45a  46a  47c  48c 49c  50d  51b  52d  53a  54d