basic of economics MCQs – Page 8

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

basic of economics Mcqs

141. Which of the following groups suffer the most from inflation ?
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A. Debtors

B. Creditors

C. Business class

D. None of these

142. What is called the difference in the value of a nations imports over exports or exports over imports ?
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A. Trade deficit

B. Trade simples

C. Both a & b

D. Not a nor b

143. By which process the holder of a mortgage seizes the property of a homeowner who has not made interest and or principal payments on time as stipulated in the mortgage contract ?
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A. Foreclosure

B. Bankrupt

C. None of these

D. Default

144. Which market is characterized by a small number of large buyers who control all purchases and therefore the market price of a good a service ?
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A. Green market

B. Oligopsony

C. Oligopoly

D. Grey market

145. The period of high inflation and low economic growth is termed as ?
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A. Take-off stage in economy

B. Stagflation

C. Stagnation

D. None of these

146. What is referred by the term Portfolio ?
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A. Total unmovable assets of a company

B. A collection of investments, real or financial

C. Total profit of company in a year

D. Net assets of a company

147. How is termed equal rights of trade of trade without giving monopolies or preferences to an individual country ?
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A. Open door market

B. Open door country

C. Open sky market

D. Free economy

148. Which type of income is earned only the actor of production enterprise ?
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A. Profit

B. wages

C. interest

D. rent

149. What is called an internet strategy of dealing directly with business rather than consumer ?
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A. Trickle down

B. Indirect contact

C. Step by step

D. B2B

150. The balance of payment is ?
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A. Balance between a nations expenditure on imports and its receipts from exports

B. Total sum a state owned

C. Total liabilities of a nation

D. Shortfall in budget

151. Portion of a companys profit paid to common and preferred shareholders is called ?
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A. Profit share

B. Gross Profit

C. Right share

D. Dividend

152. Term the written order which directs that a specified sum of money be paid to a specified person ?
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A. Bearer Cheque

B. Bill of Exchange BE

C. None of them

D. Bill of Lading

153. How is termed a written promise to pay back a specified sum of money at a stated time or on demand ?
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A. Promissory Note (PN)

B. Note of hand

C. Both of them

D. None of them

154. What is Dumping ?
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A. Sale of goods in large quantities and at a low price

B. Sale of goods in large quantities with low quality

C. Sale of goods in large quantities with high quality

D. Sale of goods in large quantities with high price

155. What is called a check that is returned by a bank because it is not payable, usually because of insufficient funds ?
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A. Return

B. Grossed

C. Refused

D. Bounce

156. Which of the following is rate of interest the major international banks charge each other for borrowings ?
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A. London Interbank Offered Rate (LIBOR)

B. international Interbank Offered Rates (IOBOR)

C. New York Interbank Offered Rates (NIBOR)

D. USA Interbank Offered Rate (UIBOR)

157. What would reduce the role of central planning in a economy ?
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A. Increasing government spending

B. Increasing the role of markets

C. Removing the profit motive

D. Increasing public ownership of firms

158. The power of a bank to create credit is affected by ?
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A. The cash reserve requirement

B. A and B of above

C. The number of branches of a bank

D. The amount of cash available

159. When the stock market is down falling it is called ?
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A. Crashing

B. Bullish

C. Bearish

D. Falling

160. From each according to his ability to each according to his need is the theoretical slogan of ?
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A. Feudal System

B. Fascist System

C. Capitalist System

D. Communist System

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