Economics MCQs

Page No. 414

What is referred by cost push inflation ?


aDecreased production costs drive prices up


b Decreased production costs drive prices down


c increased production costs drive prices down


d increased production costs drive prices up



An adjustment is made in wages that corresponds with the change in the cost of living. What this adjustment is called ?


aFree adjustment


bCost effective adjustment


cComparative adjustment


dCost of living adjustment



Amount of money needed to purchase the goods and services required to maintain a certain standard of living called ?


aCost of living


bBasic requirement


cCost of life


dNone of the above


View Answer Cost of living

The sole legal right to print or publish anything which belongs to the author or his assignees is called ?


aProperty right


b Sole right


cCopyright


dRight


View Answer Copyright

How I measured the change in the cost of basic goods and services in comparison with a fixed base period ?


aHuman Development Index (HDI)


bConsumer Price Index (CPI)


cComplete Price Index (CPI)


d Comparative Price Index (CPI)



The comparative advantage comes if each trading partners has a product that will bring a better price in another country than it will at home. Which economist proposed the principle of comparative advantage ?


aAdam Smith


bDavid Ricardo


cDavid Smith


dAdam Ricardo


View Answer David Ricardo

A borrower gives to creditor a security to grantee repayment of a loan. What is this security called ?


aPledge


bAssurance


cCollateral


dGuaranty


View Answer Collateral

Which of the following is the Pakistan’s central bank ?


aState Bank


bNational Bank


cBoth of them


dNone of them


View Answer State Bank

What is called the crop which is grown for sale rather than the farmer’s own use ?


aBusiness Crop


b Cash crop


cMoney Crop


dEarning Crop


View Answer Earning Crop

Name the system in which the means of production and distribution are privately or corporate owned and development is proportionate to the accumulation and reinvestment of profits which are gained in a free market ?


aCapitalism


bSocialism


cFree market economy


dLiberalism


View Answer Capitalism

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