A. National income
B. Public income
C. Local income
D. Gross income
Economics Mcqs
How is termed equal rights of trade of trade without giving monopolies or preferences to an individual country ?
A. Open door market
B. Open door country
C. Open sky market
D. Free economy
The economics system planned economy is ?
A. In which economists control production
B. In which production and distribution of wealth is under government’s control
C. In which technocrats control production
D. In which government controls distribution
Point out the use of the term price fixing ?
A. Unlawful agreement between manufacturers to set and maintain specified price on typically competing products
B. Artificial setting of price of commodity by government
C. Both of them
D. None of them
What is price support ?
A. To increase price artificially
B. Maintenance of price through public subsidy or government intervention
C. To enhance price
D. To maintain price at specific level
How is termed a written promise to pay back a specified sum of money at a stated time or on demand ?
A. Promissory Note (PN)
B. Note of hand
C. Both of them
D. None of them
What is called the advocacy of protecting domestic producers by impeding or limiting the importation of foreign goods and services ?
A. Domestication
B. Protectionism
C. Localization
D. National interest
What is comprised by public sector ?
A. Public corporations
B. Central and local government.
C. Nationalized industries
D. All of them
What is the rate of exchange or exchange rate ?
A. Power to buy foreign currency
B. Foreign currency holding
C. Ratio at which unit of one country’s currency is exchanged for unit of another country currency
D. None of them
Which term is used for a country’s holdings of intentionally acceptable means of payment ?
A. Holdings
B. Reserves
C. Foreign currency
D. Treasure