Economics MCQs

Page No. 401

What is public sector ?


a Public corporations


b Central and local government


cNationalized Industries


dAll of them


View Answer All of them

Term the minimum income level below which a person is considered to be living in poverty ?


aPoverty level


bPoverty line


cBoth of them


d None of them


View Answer Both of them

What is National debt or public debt ?


aState’s borrowing from its population


bState’s borrowing from foreign government


cstate’s borrowing from international institution


dAll of these


View Answer All of these

Governmental non-interference in commerce is called ?


a Free market economy


bLaissez faire also Laisser faire


cOpen market economy


d Liberal market economy



What is inflation ?


aIncrease in the amount of circulating money


b Lowering of purchasing power


cDecrease in the amount of circulation money


d None of these



What is Free port ?


aWhere no export duties are levied


bWhere no import duties are levied


cWhere no export or import duties are levied


d Where everything can be import or export



What is called a country’s total financial obligations to the rest of the world ?


aTotal debt


bDebt burden


cNational liabilities


dExternal debt


View Answer External debt

What is the period called 12-months plan of a country to use its funds ?


aFiscal period


bCalendar year


c Year unit


dFiscal year (FY)


View Answer Fiscal year (FY)

Gross Domestic Product (GDP) is__________________?


aValue of all eco nomic activity with in a nation’s border


bEconomics output of a country


cEconomic activities of federal government


d None of these



What is Dumping ?


aSale of goods in large quantities with high quality


bSale of goods in large quantities with low quality


c Sale of goods in large quantities and at a low price


d Sale of goods in large quantities with high price



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