basic of economics Mcqs
302. Which minerals chief exporter is Russia?
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A. Gold

B. Manganese

C. Rubber

D. Silver

303. What is Demand note ?
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A. Term deposit payable in lawful money upon demand

B. Cheque payable in lawful money upon demand

C. Draft payable in lawful money upon demand

D. Security payable in lawful money upon demand

305. Downsizing is______________?
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A. to make in a smaller size

B. to make in a actual size

C. to make in a half size

D. None of the above

306. Open market Operation is ?
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A. Buying and selling foreign exchanges

B. Buying and selling shares of companies

C. Buying and selling bills of exchange

D. Buying and Selling govt. securities
307. Name the method of inventory accounting in which the oldest remaining items are assumed to have been first sold ?
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A. LAFO (last in first out)

B. FIFO (first in first out)

C. First come First serve

D. None of these

308. Group of Singapore, Hong, Kong, Taiwan, and south Korea is called?
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A. All of these

B. Four Dragons

C. Four Tigers

D. Little Tigers

309. Term a film that is engaged in two or more unrelated businesses ?
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A. giant

B. Incorporation

C. Multinational

D. Conglomerate
312. The term Mark-up refers to________________?
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A. Rise in the price of an item for sale

B. An amount added to cost price in calculating selling price

C. Both of them

D. All of them

313. A piece of land and whatever physical property is on it is called?
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A. Unmovable property

B. Property

C. Solid asset

D. Real estate
315. What is sales tax_____________?
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A. Tax deducted at source

B. Tax on gross sale

C. Levied on the retail price of merchandise and collected by retailer

D. Tax on local produce

318. What is the cost effective ?
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A. Cheap things

B. Substandard things

C. Economical in terms of the goods or services received for the money spent

D. Free in terms of the goods or services received for the money spent

320. Term the group of countries that have removed all restrictions on trade among themselves?
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A. Close-Trade zone

B. Free-trade zone

C. Both of them

D. None of them

321. A stock that sells at a high price because of public confidence in its long record of steady earnings is called ?
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A. An extremely valuable asset or property

B. Blue chip

C. Blue Chipper

D. All of these
322. What is called the centers around the ability of a national economy to generate enough interests and principal on its foreign debt ?
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A. National economic risk

B. Foreign exchange risk

C. Country economic risk

D. Country finance risk
326. From the sale of capital assets tax is levied on profits. What this tax is called ?
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A. Capital gains tax

B. Profit tax

C. Capital tax

D. Excise duty

327. Depression is a drastic decline in a national or international economy. Its characteristic is_____________?
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A. Falling prices

B. Unemployment

C. All of these

D. Decreasing business activity

328. Interest is______________?
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A. Share in profit

B. Devaluation in the Currency

C. Payment made for the use of another persons money

D. Payment made for the use of banks money

329. What does mean by Franchise__________________?
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A. All of the above

B. A privilege or right officially granted by a person or group by a government

C. Authorization granted to someone to sell or distribute a companys goods or service in certain area

D. Territory or limits within which immunity, privilege or right may be exercised

332. What is Remittance_______________?
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A. Sending of money to someone at distance

B. The sum of money sent

C. Both of them

D. None of them

333. Deregulation is the reduction of governments role in controlling markets. Which of the following is result(s) of deregulation ?
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A. Lead to freer market

B. Lead to a more efficient marketplace

C. Both of them

D. None of them

334. National income of a country is based on ?
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A. The taxes earned by the State

B. Personal incomes of all the citizens

C. Surplus of exports over imports

D. The sum of all factors of income
337. Rate of growth of an economy is measured in terms of________________?
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A. National income

B. Industrial development

C. Number of people who have been lifted above the poverty line

D. Per capita income

338. What is called the trade of goods or services without the exchange of money ?
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A. Barter

B. Liberal Exchange

C. Free exchange

D. Bilateral Trade

339. What is called a countrys total financial obligations to the rest of the world ?
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A. External debt

B. Debt burden

C. Total dept

D. National liabilities

340. Which of the following is referred by the phrase trade balance ?
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A. Income from imports

B. Income from export

C. Difference between imports and exports

D. All of them

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

B. Britain

C. USA

D. Germany

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
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