basic of economics MCQs – Page 9

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

basic of economics Mcqs

161. The economics system planned economy is ?
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A. In which production and distribution of wealth is under governments control

B. In which technocrats control production

C. In which economists control production

D. In which government controls distribution

162. Currency that is expected to drop in value relative to other currencies is called ?
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A. Local currency

B. Lime currency

C. Cold currency

D. Soft currency

163. What is called the tax that is levied on retail price of merchandise collected by retailer ?
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A. Gross Tax

B. Local Tax

C. Sales Tax

D. General Tax

164. Mention the penalty by which a person loses title of his property, that is a result of some illegal act ?
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A. Debenture

B. Forfeiture

C. Bankruptcy

D. Confiscation

165. What is referred by the by economic theory Liberalism ?
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A. Laissez faire

B. Gold standard

C. The free market

D. All of these

166. What is the period called 12-months plan of a country to use its funds ?
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A. Fiscal year (FY)

B. Year unit

C. Fiscal period

D. Calendar year

167. A market in which prices are in an upward trend is known as ?
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A. Beamish market

B. Bull market

C. Hot market

D. Upward market

168. Devaluation of currency can help to increase exports if elasticity of demand of exportable items in other countries is ?
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A. Equal to one

B. Less than one

C. Zero

D. Greater than one

169. Name the scale for measuring the average share price and percentage change of 30 major US industrial companies ?
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A. Dow Jones Index

B. NASDAQ

C. Major Index

D. Nikki Index

170. What is National debt or public debt ?
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A. States borrowing from its population

B. All of these

C. States borrowing from foreign government

D. states borrowing from international institution

171. What is the rate of exchange or exchange rate ?
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A. None of them

B. Foreign currency holding

C. Ratio at which unit of one countrys currency is exchanged for unit of another country currency

D. Power to buy foreign currency

172. Which country is the chief exporter of jute ?
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A. Bangladesh

B. India

C. Both of them

D. None of them

173. Governmental non-interference in commerce is called ?
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A. Open market economy

B. Free market economy

C. Liberal market economy

D. Laissez faire also Laisser faire

174. A government program, social security is ?
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A. Economics assistance provided by social security

B. Economic assistance to persons who faced unemployment, disability of agedness, financed by assessment of employers and employees

C. Both a & b

D. Nor a nor b

175. What is price support ?
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A. To increase price artificially

B. Maintenance of price through public subsidy or government intervention

C. To maintain price at specific level

D. To enhance price

176. What is inflation ?
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A. Increase in the amount of circulating money

B. Decrease in the amount of circulation money

C. None of these

D. Lowering of purchasing power

177. What is referred by the Working capital ?
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A. Assets of business that can be applied to its operation

B. Amount of current assets that exceeds current liabilities

C. Both of them

D. None of them

178. Because of the decrease in the value of money, there comes exaggerated increase in incomes and prices. How is termed this system ?
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A. Super inflation

B. A cute inflation

C. Hyperinflation

D. Ultra-inflation

179. Two countries can gain from foreign trade if ?
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A. Cost ratios are different

B. Price ratios are different

C. Tariff rates are different

D. A and C of above

180. Quoted bid or highest price on inventor in willing to pay to buy a security is called ?
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A. Quote price

B. Market price

C. Bid price

D. Offer price

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