MCQOPTIONS
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MCQOPTIONS
This section includes 864 Mcqs, each offering curated multiple-choice questions to sharpen your General Knowledge (GK) knowledge and support exam preparation. Choose a topic below to get started.
| 501. |
Agricultural income tax is a source of revenue to - |
| A. | Central Government |
| B. | State Government |
| C. | Local Administration |
| D. | Centre and State Governments |
| Answer» C. Local Administration | |
| 502. |
A certificate that specifies the country of origin of an export or import is called |
| A. | Certificate of Deposit |
| B. | Certificate of Origin |
| C. | Certificate of Incorporation |
| D. | None of the above |
| Answer» C. Certificate of Incorporation | |
| 503. |
The term "market" in Economics means - |
| A. | A central place |
| B. | Presence of competition |
| C. | Place where goods are stored |
| D. | Shops and super bazars |
| Answer» B. Presence of competition | |
| 504. |
What is the term for generating capital from income? |
| A. | Self-financing |
| B. | Self-sufficiency |
| C. | Both of the above |
| D. | None of the above |
| Answer» B. Self-sufficiency | |
| 505. |
The flow of money payments to or from a firm is called Cash Flow . Expenditure is sometimes referred to as: |
| A. | Gross Cash Flow |
| B. | Negative Cash Flow |
| C. | Positive Cash Flow |
| D. | All of the above |
| Answer» C. Positive Cash Flow | |
| 506. |
Special Economic Zone (SEZ) concept was first introduced in - |
| A. | China |
| B. | Japan |
| C. | India |
| D. | Pakistan |
| Answer» B. Japan | |
| 507. |
Aneconomy in which there are no flows of labour, goods or money to and from other nations is a/an - |
| A. | slow economy |
| B. | mixed economy |
| C. | closed economy |
| D. | open economy |
| Answer» D. open economy | |
| 508. |
Which of the following is referred to as international currency because it is regarded as acceptable for the settlement of international debts? |
| A. | Yen |
| B. | Dollar |
| C. | Rupee |
| D. | Dinar |
| Answer» C. Rupee | |
| 509. |
Which curve shows the inverse relationship between unemployment and inflation rates? |
| A. | Supply curve |
| B. | Indifference curve |
| C. | IS curve |
| D. | Phillips curve |
| Answer» E. | |
| 510. |
The theory of monopolistic competition has been formulated in the United States of America by - |
| A. | Joan Robinson |
| B. | Edward Chamberlin |
| C. | John Bates Clark |
| D. | Joseph Schumpeter |
| Answer» C. John Bates Clark | |
| 511. |
The people live below the poverty line earn less then: |
| A. | 1 US dollar daily |
| B. | 2 US dollar daily |
| C. | 3 US dollar daily |
| D. | 5 US dollar daily |
| Answer» B. 2 US dollar daily | |
| 512. |
The government has prepared a programme to increase the textile exports of the country by the name of: |
| A. | Textile vision 2003 |
| B. | Textile promotion 2004 |
| C. | Textile vision 2005 |
| D. | None of the above |
| Answer» D. None of the above | |
| 513. |
Mukran Coastal Highway project is being completed with the assistance of: |
| A. | Japan |
| B. | Canada |
| C. | China |
| D. | U.K. |
| Answer» D. U.K. | |
| 514. |
A free port is the port where: |
| A. | Less duties are paid |
| B. | No duties and no restrictions |
| C. | Selective duties are paid |
| D. | Restrictions on imports but not on exports |
| Answer» C. Selective duties are paid | |
| 515. |
The Aid to Pakistan Consortium now renamed as: |
| A. | IMF |
| B. | World Bank |
| C. | Assistance to Pakistan Forum |
| D. | Pakistan Development Forum |
| Answer» E. | |
| 516. |
The term stagflation refers to a situation where - |
| A. | growth has no relation with the change in prices |
| B. | rate of growth and prices both are decreasing |
| C. | rate of growth in faster than the rate of price increase |
| D. | rate of growth is slower than the rate of price increase |
| Answer» E. | |
| 517. |
The real capital formation e.g., the production or maintenance of machinary or construction that will produce a stream of goods and services is called |
| A. | Capital |
| B. | Investment |
| C. | Grant |
| D. | Property |
| Answer» C. Grant | |
| 518. |
What do you understand by the term "deflation"? |
| A. | Excess circulation of money, causing dearness of goods |
| B. | Increase in interest rates diverts money into savings and reduce circulation of money causing prices to fall. |
| C. | Devaluation of local currency to the larger exte |
| Answer» C. Devaluation of local currency to the larger exte | |
| 519. |
'Capital gains' refers to goods which - |
| A. | serve as a source of raising further capital |
| B. | help in the further production of goods |
| C. | directly go into the satisfaction of human wants |
| D. | find multiple uses |
| Answer» C. directly go into the satisfaction of human wants | |
| 520. |
Deflation is a situation in which - |
| A. | The value of money is falling. |
| B. | The price of goods is increasing. |
| C. | The value of money is increasing. |
| D. | The price level is stagnant. |
| Answer» D. The price level is stagnant. | |
| 521. |
A country's balance of trade is unfavorable when |
| A. | exports exceed imports |
| B. | imports exceed exports |
| C. | terms of trade become unfavorable |
| D. | None of these |
| Answer» C. terms of trade become unfavorable | |
| 522. |
Stagflation is a situation of - |
| A. | stagnation and deflation |
| B. | stagnation and recession |
| C. | stagnation and inflation |
| D. | stagnation and recovery |
| Answer» D. stagnation and recovery | |
| 523. |
A country's visible balance is the difference between the: |
| A. | Volume of goods imported and exported |
| B. | Value of capital goods exported and imported |
| C. | Volume of consumer goods imported and exported |
| D. | Value of goods imported and exported |
| Answer» E. | |
| 524. |
A measurement of unemployment based on the number of people out of work and claiming unemployment benefits is called in terms of economic theory |
| A. | Employment Count |
| B. | Claimant Count |
| C. | Both of the above |
| D. | None of the above |
| Answer» C. Both of the above | |
| 525. |
The situation in which the same tax base is taxed more than once is called: |
| A. | Direct Taxation |
| B. | Double Taxation |
| C. | Indirect Taxation |
| D. | None of the above |
| Answer» C. Indirect Taxation | |
| 526. |
The term 'Dumping' refers to - |
| A. | The sale of a substandard commodity |
| B. | Sale in a foreign market of a commodity at a price below marginal cost |
| C. | Sale in a foreign market of a commodity just at marginal cost with too much of profit |
| D. | Smuggling of goods without paying any customs duty |
| Answer» C. Sale in a foreign market of a commodity just at marginal cost with too much of profit | |
| 527. |
One of the main factors that led to rapid expansion of Indian exports is - |
| A. | Imposition of import duties |
| B. | Liberalization of the economy |
| C. | Recession in other countries |
| D. | Diversification of exports |
| Answer» E. | |
| 528. |
The biggest market of Pakistani exports is: |
| A. | France |
| B. | Saudi Arabia |
| C. | U.S.A |
| D. | U.K. |
| Answer» D. U.K. | |
| 529. |
"Globalisation of Indian Economy" denotes : |
| A. | Increase of external borrowings |
| B. | having minimum intervention in economic relations with other countries |
| C. | starting of new business units abroad |
| D. | relaxing the programmes of import substitution |
| Answer» C. starting of new business units abroad | |
| 530. |
The lowest number of people living below the poverty line among the SAARC Countries are in: |
| A. | Bangladesh |
| B. | Pakistan |
| C. | Nepal |
| D. | Sri Lanka |
| Answer» E. | |
| 531. |
The biggest market of Pakistani Imports is: |
| A. | USA |
| B. | U.K. |
| C. | Russia |
| D. | Japan |
| Answer» B. U.K. | |
| 532. |
According to a UN report, the number of hungry people (starving to death) in the world stands at: |
| A. | 600 million |
| B. | 800 million |
| C. | 700 million |
| D. | 500 million |
| Answer» C. 700 million | |
| 533. |
The total number of people in a country who are in work or unemployed but looking for work, is called: |
| A. | Labour Demand |
| B. | Labour force |
| C. | Labour Market |
| D. | None of the above |
| Answer» C. Labour Market | |
| 534. |
Product differentiation is the most important feature of - |
| A. | Pure competition |
| B. | monopolistic competition |
| C. | monopoly |
| D. | oligopoly |
| Answer» C. monopoly | |
| 535. |
Price mechanism is a feature of - |
| A. | Capitalist economy |
| B. | Barter economy |
| C. | Mixed economy |
| D. | Socialist economy |
| Answer» B. Barter economy | |
| 536. |
As the number of investments made by a firm increases, its internal rate of return - |
| A. | declines due to diminishing marginal productivity. |
| B. | declines because the market rate of interest will fall, ceteris paribus. |
| C. | increases to compensate the firm for the current consumption foregone. |
| D. | increases because the level of savings will fall. |
| Answer» D. increases because the level of savings will fall. | |
| 537. |
What do you understand by the term "Kerb" in foreign currency dealings: |
| A. | The exchange rate of currencies in the open market |
| B. | The exchange rate of currencies determined by the State Bank of Pakistan |
| C. | All sort of Monetary dealings in foreign currencies within the stock exchange |
| D. | None of the above one |
| Answer» B. The exchange rate of currencies determined by the State Bank of Pakistan | |
| 538. |
The 'Interest Rate Policy' is a component of - |
| A. | Fiscal Policy |
| B. | Monetary Policy |
| C. | Trade Policy |
| D. | Direct Control |
| Answer» C. Trade Policy | |
| 539. |
'Supply creates its own demand'. This statement is related to - |
| A. | Prof. J.B. Say |
| B. | John Robinson |
| C. | Adam Smith |
| D. | J.S. Mill |
| Answer» B. John Robinson | |
| 540. |
The balance of payments of a country is in equilibrium when the - |
| A. | demand as well as supply of the domestic currency are the highest |
| B. | demand for the domestic currency is equal to its supply |
| C. | demand for the domestic currency is the highest |
| D. | demand for the domestic currency is the lowest |
| Answer» C. demand for the domestic currency is the highest | |
| 541. |
Which of the following items in the balance of payments accounts are invisible? |
| A. | Aviation |
| B. | Tourism |
| C. | Interest, profits and dividends |
| D. | All of the above |
| Answer» E. | |
| 542. |
"Economics is what it ought to be" - This statement refers to - |
| A. | Normative economics |
| B. | Positive economics |
| C. | Monetary economics |
| D. | Fiscal economics |
| Answer» B. Positive economics | |
| 543. |
Goods which are meant either for consumption or for investment are called - |
| A. | Final goods |
| B. | Giffen goods |
| C. | Inferior goods |
| D. | Intermediate goods |
| Answer» B. Giffen goods | |
| 544. |
Indian agriculture is typically characterised as - |
| A. | land surplus, labour scarce economy |
| B. | land surplus, labour surplus economy |
| C. | land scarce, labour surplus economy |
| D. | land scarce, labour scarce economy |
| Answer» D. land scarce, labour scarce economy | |
| 545. |
Commercialization of agriculture implies - |
| A. | cultivation of Limbers |
| B. | plantation |
| C. | production of crops for sale |
| D. | production of crops like wheat or rice |
| Answer» D. production of crops like wheat or rice | |
| 546. |
Which one of the following is not a method for computing GNP? |
| A. | Income Approach |
| B. | Expenditure Approach |
| C. | Savings Approach |
| D. | Value Added Approach |
| Answer» B. Expenditure Approach | |
| 547. |
Difference between a countrys exports and imports is: |
| A. | Trade Balance |
| B. | Trade Deficit |
| C. | Trade Surplus |
| D. | Volume of Trade |
| Answer» B. Trade Deficit | |
| 548. |
The term 'Green GNP' emphasises - |
| A. | rapid growth of GNP |
| B. | increase in per capita income |
| C. | economic development |
| D. | sustainable development |
| Answer» E. | |
| 549. |
Operating Surplus arises in the - |
| A. | Government Sector |
| B. | Production for self consumption |
| C. | Subsistence farming |
| D. | Enterprise Sector |
| Answer» B. Production for self consumption | |
| 550. |
Which one of the following is not a feature of monopoly? |
| A. | Single seller of the product |
| B. | Heavy selling costs |
| C. | Barriers to entry of new firms |
| D. | Price discriminations |
| Answer» C. Barriers to entry of new firms | |