basic of economics MCQs – Page 18

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

basic of economics Mcqs

341. Term a tax that is levied by a country of source on income paid, usually on dividends remitted to the home country of the firm operating in a foreign country?
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A. Income tax

B. Wealth tax

C. None of these

D. Withholding tax

342. An act of altering of a written or printed document with intentions of deceiving anyone is called________?
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A. Forgery

B. Fraudulent

C. Fraud

D. Cheating

343. Which country is the chief exporter Aluminum?
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A. France

B. Britain

C. USA

D. Germany

344. A country can still gain from trading certain goods even though its trading partners can produce those goods more cheaply. How is known this principle?
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A. Comparative Edge

B. Relative Advantage

C. Comparative Advantage

D. Complete Advantage

345. Endorsement means anything written upon the back of the document What does means by Endorse ?
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A. To sign ones name upon the back of cheque

B. To verify the person holding cheque

C. To sign ones name upon the front of cheque

D. To verify signature

346. Which is most likely to cause a more even distribution of income ?
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A. An increase in indirect taxes

B. An increase in progressive taxation

C. An increase in the rate of inflation

D. An increase in managers salaries

347. What is called a countrys decision to allow its currency value to change freely?
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A. Pegged exchange rate

B. Open exchange rate

C. Liberal exchanged rate

D. Floating exchange rate

348. A countrys fundamental system of transportation, communications, and other aspects of its physical capabilities are called ?
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A. Basic structure

B. Basic infrastructure

C. Fundamentals

D. Infrastructure

349. Monetary policy is regulated by ?
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A. Central Bank

B. Money lenders

C. Government policy

D. Private entrepreneurs

350. USA is the chief exporter of_________________?
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A. Iron Ore

B. Wheat

C. Both of these

D. None of these

351. A number of relating prices of a group of commodities to their prices during an arbitrarily chosen based period is called ?
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A. Price choosing

B. Price index

C. Price indexing

D. Price fixing

352. Central banks rate of lending to commercial banks is called ?
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A. Money rate

B. Control rate

C. Discount rate

D. Interest rate

353. What is called when government spending overwhelms government revenue resulting in government borrowing ?
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A. Deficient financing

B. Budget deficit

C. Unbalanced spending

D. Deficit spending

354. Name the price at which the issuer of a bond may retire part of the pond at a specified call date ?
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A. Call price

B. Term Price

C. Bid price

D. Future Price

355. Indemnity is_______________?
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A. All of these

B. A legal exemption from liability for damages

C. Security against damages loss, or injury

D. Compensation for damages loss, or injury suffered

356. Which of the following is not required while computing Gross National Product (GNP) ?
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A. Private investment

B. None of the above

C. Net foreign investment

D. Per capita income of citizens

357. Find out the term for the purpose that a buyer must pay for the goods at the time of its delivery ?
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A. Cash on Delivery

B. Barter

C. payment on Delivery

D. Gives in take

358. What is called the minimum price of a commodity that is fixed by government in order to save the interests of producer of raw materials ?
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A. Fixed price

B. Bid price

C. Floor price

D. Basic price

359. How is termed the ability to buy ?
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A. Purchasing power parities (PPP)

B. Gross purchasing power

C. Income level

D. Purchasing power

360. What is called the manipulation of the market by traders to create the illusion of active volume to attract investors ?
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A. Manipulated market

B. False market

C. Illusion

D. Daisy chain

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