CSS :: International and National Trade
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1. |
Which of the following is international trade: |
A. |
Trade between provinces |
B. |
Trade between regions |
C. |
Trade between countries |
D. |
(b) and (c) of above |
Answer: Option C
Explanation:
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2. |
Theory of comparative advantage was presented by: |
A. |
Adam Smith |
B. |
Ricardo |
C. |
Hicks |
D. |
Arshad |
Answer: Option B
Explanation:
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3. |
Which is NOT an advantage of international trade: |
A. |
Export of surplus production |
B. |
Import of defence material |
C. |
Dependence on foreign countries |
D. |
Availability of cheap raw materials |
Answer: Option C
Explanation:
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4. |
If Japan and Pakistan start free trade, difference in wages in two countries will: |
A. |
Increase |
B. |
Decrease |
C. |
No effect |
D. |
Double |
Answer: Option B
Explanation:
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5. |
Trade between two countries can be useful if cost ratios of goods are: |
A. |
Equal |
B. |
Different |
C. |
Undetermined |
D. |
Decreasing |
Answer: Option B
Explanation:
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6. |
Modern theory of international trade is based n the views of: |
A. |
Robbins and Ricardo |
B. |
Adam Smith and Marshall |
C. |
Heckcsher and Ohlin |
D. |
Saleem and Kareem |
Answer: Option C
Explanation:
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7. |
Foreign trade creates among countries: |
A. |
Conflicts |
B. |
Cooperation |
C. |
Hatred |
D. |
Both (a) & (b) |
Answer: Option B
Explanation:
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8. |
Net exports equal: |
A. |
Exports x Imports |
B. |
Exports + Imports |
C. |
Exports - Imports |
D. |
Exports of services only |
Answer: Option C
Explanation:
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9. |
A tariff: |
A. |
Increases the volume of trade |
B. |
Reduces the volume of trade |
C. |
Has no effect on volume of trade |
D. |
(a) and (c) of above |
Answer: Option B
Explanation:
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10. |
A tariff is: |
A. |
A restriction on the number of export firms |
B. |
Limit on the amount of imported goods |
C. |
Tax and imports |
D. |
(b) and (c) of above |
Answer: Option C
Explanation:
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