Economics MCQs

Page No. 433

The system under which a country’s currency is exchangeable for a fixed weight of gold on demand at central bank is called ?


aGod standard system


b Gold based system


c Bullion standard system


d None of the above



What is called a group of countries that have removed all tariffs, quotas, and export subsidies on trade among themselves ?


aClose-trade zone


bFree trade zone


cBoth of them


dNone of them


View Answer Both of them

The amount that is paid for carriage of goods by chips, railways, airways etc is called ?


aHire and Fire


bRent


c Transportation Changes


dFreight


View Answer Freight

What does mean by Franchise__________________?


a A privilege or right officially granted by a person or group by a government


b Authorization granted to someone to sell or distribute a company’s goods or service in certain area


cTerritory or limits within which immunity, privilege or right may be exercised


d All of the above


View Answer All of the above

An act of altering of a written or printed document with intentions of deceiving anyone is called________?


aFraud


b Cheating


cForgery


dFraudulent


View Answer Fraudulent

What is called the minimum price of a commodity that is fixed by government in order to save the interests of producer of raw materials ?


aFloor price


bFixed price


cBid price


dBasic price


View Answer Floor price

Name the method of inventory accounting in which the oldest remaining items are assumed to have been first sold ?


a FIFO (first in first out)


bLAFO (last in first out)


cFirst come First serve


dNone of these



There is method by which one currency is bought, sold or valued in terms of other currencies, gold or accounting units such as the Special Drawing Right of IMF. What is it called ?


aCurrency exchange


b Currency value


cCurrency value


dExchange rate


View Answer Exchange rate

Endorsement means anything written upon the back of the document What does means by Endorse ?


aTo verify signature


bTo verify the person holding cheque


cTo sign one’s name upon the back of cheque


dTo sign one’s name upon the front of cheque



Which money is called ‘Earnest’ Money ?


aWhich money is called ‘Earnest’ Money ?


b A token of something to come


cA promise or assurance


dAll of these


View Answer All of these

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