11th Principles of Economics MCQS
The record of visible and invisible items on international account is called
Balance of trade
Balance of budget
Capital account
Balance of payment
Advantages of international trade are
Many
Two
Three
One
The trade transaction between the individuals of different areas of a country is called
Local trade
International trade
Domestic trade
Regional trade
In which year international monetary fund was established
1947
1945
1941
1944
One of the following is not included in the methods of removing deficit in balance of payments of a country
Increase in imports
Increase in exports
Decrease in the quantity of money
Devaluation of currency
The systematic record of visible and invisible exports and imports of a country in one year is called
Internal balance
External balance
Balance of payment
Balance of trade
International balance of payment is all that transaction for which either foreign exchange is spent or received. This definition is stated by
Prof.Samuelson
Prof. Hicks
Prof. Marshal
Prof. Ricardo
Which one of the following is included in balance of trade
All the three
Invisible goods
Visible & invisible goods
Visible goods
Balance of visible goods of a country mean
Value of imported & exported goods and services
Value of imported & exported services
Value of imports & exports
Quantity of imports & exports
One of the following is not advantage of international trade
Provision of medicines & machinery
Provision of necessities of defence
Provision of necessities of life
Imperfections of market
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