12th Class Economics MCQS
Legal money is called so because
It is official medium of exchange
The buyer must pay in that money
Sellers do not accept any other money
Can be converted into gold
Modern theory of international trade is bases on the view of
Heckscher and Ohlin
Adam smith and Marshall
Robbins and Ricardo
Saleem and Kareem
Export goods is called trade in
Real goods
Visible goods
Invisible goods
Basic goods
If C = 200 and I = 40 then Y will equal
240
None of these
160
200
Trade between two countries can be useful if cost ratios of goods are
Decreasing
Undetermined
Equal
Different
Zakat is not due on the gold owned by a person who has less than
7.5 tolas
30 tolas
60 tolas
15 tolas
In Pakistan in June 2016 money supply was about
Rs.12000 million
Rs.12000 billion
Rs.12000 trillion
More then
It is deducted from GNP to get NNP
Transfer payments
Depreciation
Indirect taxes
Direct taxes
Final balance of payments of a country is
Always balanced
Fluctuates
Always surplus
Always deficit
Which of the following compares average price of exports to average price of imports?
Balance of trade
Terms of trade
Exchange rate
Balance of payments