basic of economics MCQs – Page 7

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

basic of economics Mcqs
121. What is public sector ?
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A. All of them

B. Central and local government

C. Nationalized Industries

D. Public corporations

122. Balance of sheet is understood as ?
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A. Accurate economic position

B. Performance of a company

C. Statements of accounts that shows debit and credit accounts under the broad heads

D. Profit in a year

123. A tariff______________?
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A. A and C of above

B. Reduces the volume of trade

C. Increase the volume of trade

D. Has no effect on volume of trade?

124. Mention the term for an official act of reducing the rate in which one currency is exchanged for another in international currency markets ?
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A. Devolution

B. Devaluation

C. Price cap

D. Cut-rate

125. Bearer cheque is ?
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A. payable through account only

B. payable to person holding it

C. payable after specific period

D. Payable to anyone

126. The most industrialized country in Asia is ?
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A. Taiwan

B. South Korea

C. Malaysia

D. Japan
127. According to the law of demand. When ?
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A. Price increase demand decreases

B. Price decreases demand decreases

C. Price increased demand increases

D. None of these

128. Which exchange rate system is characterized by the absence of government intervention ?
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A. Free float

B. Clean float

C. Both of them

D. None of them

129. Oil is measured in barrels. What is the abbreviation for barrels________________?
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A. Bel

B. Brl

C. Bbl

D. Obl

130. The sole legal right to print or publish anything which belongs to the author or his assignees is called ?
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A. Property right

B. Right

C. Copyright

D. Sole right

131. What is deflation________________?
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A. Increase in public expenditure

B. Reverse of inflation

C. Deficit Budget

D. Reduction in taxation

132. A bank deposit, that cannot be withdrawn before the date which is specified at the time of deposit, is called ?
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A. Bond deposit

B. time deposit

C. Fixed investment

D. term deposit
133. A company or corporation which was subsidiaries, investments or operation in more than one country is known as ?
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A. Multinational corporation

B. Multinational company

C. Both of them

D. None of them

134. What would cause a countrys exchange rate to fall ?
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A. An increases demand for its exports

B. None of the above

C. Increased demand for its imports

D. An increased inflow of capital

135. What is comprised by public sector ?
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A. All of them

B. Public corporations

C. Nationalized industries

D. Central and local government.

136. Inflation is ?
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A. Lowering of purchasing power

B. None of the above

C. Decrease in the amount of circulation money

D. Increase in the amount of circulating money
137. Trade name is ?
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A. By which commodity service or process is known to trade

B. All of them

C. Used to identify a commercial product or service

D. Under which a business firm operates

138. What is called that company which make loans to individuals, while not receiving deposits like a bank ?
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A. Finance corporation

B. Limited company

C. Cooperative company

D. Finance company

139. Name the Company that is listed with the SEC after submission of a required statement and compliance with disclosure requirement ?
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A. Registered company

B. Limited company

C. Public company

D. Public limited company

140. Which term is used for the total net value of all goods and services produced in a country in specified period of time ?
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A. Gross income

B. Public income

C. Local income

D. National income