In this post, we are going to study important Money, Banking, and International Trade MCQs. Appeared many times in different competitive exams. What share of foreign trade is focused on absolute differences in production costs? SubstantialAll NilVery little The views of Adam Smith on world trade can be better understood if one treats them as an answer to Ricardo's views on tradeThe mercantilist approach to tradeThe labor theory of valueNone of these Developing countries usually complain of Severe obstacles in the way of promoting exportsDetoriation in their terms of tradeThe ambiguity and insufficiency of government assistanceAll of these Which among the following is not an assumption of the classical-territory of comparative cost advantage? Production takes place under diminishing returnsLabor is the only factor of productionPrices are determined by their
Economics MCQs
Demand, Supply, and Price MCQs
Which is not a sufficient condition for the emergence of an economic problem. Scarcity of resourcesUnlimited wantsAlternative uses of scarce resourcesUse of money Which is not a core economic problem? How to produceHow to maximize private profitWhat to produceFor whom to produce Who described economics as a science that studies human actions as a relationship between alternate uses of ends and means? Alfred Marshall L. RobbinsPaul A. SamuelsonJoan Robinson A mixed economy is characterized by the co-existence of: Public and private sectorsModem and traditional industriesCommercial and subsistence farmingForeign and domestic investments Which is not an essential feature of a socialist economy? Freedom of enterpriseSocial ownership of the means of productionGovernment decisionsUse of centralized planning Which of the following is incorrect? Normative Economics studies how to solve the economic challenges facing society.A market
Great Economists and their Work MCQs
The Nobel Prize winners in Economics 2009 are Elinor Ostrom and Oliver Williamson. Do you know which year the Tableu Economique of Francois Quesnay was written in? 17581766 1761 1763 Identify the author of "The Principles of Political Economy and Taxation" J.S. MillAlfred MarshallA. TurgotDavid Ricardo Who is generally regarded as the founder of the Classical School"? T. R. MalthusDavid RicardoJ. S. MillAdam Smith Identify the economist who had little formal schooling and began working in the money market at an early age of 14. Adam SmithDavid RicardoA. A. CournotV. F. D. Pareto Who initially raised concerns of a food crisis in the world? T.R. MalthusDavid RicardoJ.B. SayJ.S. Mill When was the big work "An Enquiry into the Nature and Causes of Nations' Riches" written by Adam Smith? 1766175617861776 "The real price of everything,