Balance of Payments Test 03 Preparation Online

1. Which is the basic economic problem, which is common in all economic systems?

A. Elimination of inflation

B. Allocation of scarce resources

C. To reduce taxation

D. To increase exports

2. In capitalism there is sovereignty of?

A. Producer

B. Businessmen

C. Consumer

D. Government

3. In working of markets, the Islamic system is nearer to?

A. Mixed economy

B. Socialism

C. None of the above

D. Capitalism

4. IMF has given loan to Pakistan. It will improve Pakistan's?

A. Current account

B. Capital account

C. Overall balance of payments

D. (b) and (c) of above

5. In socialistic system, prices of goods are determined by?

A. Sellers

B. Forces of demand and supply

C. Government

D. Buyers

6. The receipts and payments for goods exported and imported are counted in?

A. Current account

B. Capital account

C. Trade account

D. Monetary account

7. In capitalistic system, prices of goods are determined by?

A. Government

B. Buyers

C. Forces of demand and supply

D. Sellers

8. Basic principle of Islamic economic system is?

A. Equality

B. High profit

C. Less consumption

D. Justice

9. Foreign exchange reserves increase if?

A. Govt. increases taxes

B. Imports increase exports remain the same

C. (a) and (b) of above

D. Exports increase imports remain the same

10. IMF gives loans?

A. To increase employment opportunities

B. To fill gap in government budget

C. To decrease inflation

D. To fill gap in balance of payments

Balance of Payments Test 03 Preparation Online

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