basic of economics MCQs – Page 10

Practise focused basic of economics questions with marked answers for exam preparation and subject revision.

basic of economics Mcqs

181. Exchange rate of which of the following currencies falls because of persistent balance of payments deficit ?
0

A. Gold currency

B. Silver currency

C. Soft currency

D. Hard currency

182. The term liquidate refers to pay off a debt, a claim or an obligation or to settle the affairs by determining liabilities and applying assets to their discharge. What is also converted by the term?
0

A. To convert assets into cash

B. Abolish

C. Both of them

D. All of them

183. P2P is business slang. What does it refer ?
0

A. To startups or internet startup

B. Path to profitability

C. Both of them

D. None of them

184. What is Black Money ?
0

A. None of these

B. Illegally earned money

C. Income on which payment of tax is usually evaded

D. Money earned through underhand deals

185. Gross National income is always more than Net National income because it includes ?
0

A. Capital consumption allowance

B. Foreign income

C. Indirect taxes

D. Direct taxes

186. Developments in a national economy can affect the outcome of an international financial transaction. What this process is called ?
0

A. Ultra-country economic risk

B. Outcome risk

C. Country economic risk

D. International economic risk

187. What can a central bank increase in order to reduce consumer borrowing ?
0

A. interest rates

B. None of these

C. government bank deposits

D. commercial bank deposits

E. government spending

188. Term the interchange of commodities across political frontiers without restriction such as tariffs, quotas, or foreign exchange controls ?
0

A. Free trade

B. Open trade

C. Easy trade

D. Open sky trade

189. Which of the following terms refers to income that is saved and not invested ?
0

A. Deposit

B. Capital

C. Hoarding

D. Profit

190. A tax on imports exports, or consumption goods is called ?
0

A. Duty

B. Drawback

C. Excise

D. Custom

191. What is called the advocacy of protecting domestic producers by impeding or limiting the importation of foreign goods and services ?
0

A. Localization

B. Protectionism

C. National interest

D. Domestication

192. What is referred by cost push inflation ?
0

A. increased production costs drive prices down

B. Decreased production costs drive prices up

C. increased production costs drive prices up

D. Decreased production costs drive prices down

193. Interest payments and any principal repayments which are due on a countrys external debt are known as ?
0

A. Service Charges

B. Debt Payment

C. Debt Charges

D. Debt service

194. Government policy about exports and imports is called ?
0

A. Fiscal policy

B. Monetary policy

C. Commercial policy

D. Finance policy

195. What does price elasticity of demand measure ?
0

A. Changes in price caused by changes in demand

B. The rate of change of sales

C. The responsiveness of demand to price changes

D. The value of sales at a given price

196. The amount value of an asset in business records is not necessarily identical to the amount that the asset could bring on the open market. What is it called ?
0

A. Artificial value

B. Open value

C. Real value

D. Book value

197. An adjustment is made in wages that corresponds with the change in the cost of living. What this adjustment is called ?
0

A. Free adjustment

B. Cost of living adjustment

C. Comparative adjustment

D. Cost effective adjustment

198. Which theory of economic management focuses on encouraging product through tax reduction ?
0

A. Supply-side economics

B. Supervised market

C. Liberalism

D. Free market economics

199. Which form of business organization falls between a corporation and partnership ?
0

A. Joint stock company

B. Limited joint company

C. joint company

D. Limited Company

200. Balance of payments of a country includes ?
0

A. Balance of trade

B. A and B of above

C. Capital receipts and payments

D. Savings and investment account

Previous Next

Showing 181 to 200 of 438 mcqs