Economics MCQs 1

The Balance of payment is understood as:
(a) The balance of amount after paying debt
(b) The balance of income and expenditure in the annual budget
(c) The balance between a nation's expenditure on imports and its receipts from exports-✔️
(d) None of the above

Pinpoint the main objectives of World Trade Organization (WTO) :
(a) Fix a quota for each member country trading in International Market
(b) To eliminate quota system and promote free competition in trade-✔️
(c) To secure Third World markets for American and European goods
(d) To abolish completely custom duties on items of trade within member countries

The number of family welfare centres in Punjab are:
(a) 560
(b) 940-✔️
(c) 1230
(d) 1503

Which of the following statement is not true?
(a) The World Bank has to affiliates, the International Development Association and the International Finance Corporation.
(b) The membership of the IMF is the principal condition for membership of the World Bank.
(c) The World Bank provides loans to such countries whose balance of payments condition is not favourable-✔️
(d) The World Bank finance all kinds of capital infrastructure such as roads and railways, telecommunications, seaports and power facilities in the developing countries.

Identify the main functions of IMF;
(a) To provide loans to the members of UNO for development of Industrial infra structure
(b) To make foreign exchange resources available for those countries that want to import essential items of food
(c) To make foreign exchange resources available for those countries facing balance of payments difficulties-✔️
(d) None of the above

The United Nations celebrated “International Year of Shelter for the Homeless” in:
(a) 1985
(b) 1987-✔️
(c) 1990
(d) 1992

The Islamic Development Bank would provide half a billion US dollars in Capital to create__
(a) Private Pan Islamic Bank
(b) International Islamic Foundation for Science and Technology-✔️
(c) Refugees Rehabilitation Fund
(d) None of the above

The domestic production of crude oil in the country is approximately (per day)
(a) 44,300Barrels
(b) 57,700Barrels-✔️
(c) 65,200Barrels
(d) 70,000Barrels

The regulations of World Trade Organization (WTO) shall be enforced from:
(a) 1 January 2002
(b) 1 January 2003
(c) 1 July 2004
(d) 1 January 2005-✔️

The biggest market of Pakistani exports is:
(a) France
(b) Saudi Arabia
(c) U.S.A-✔️
(d) U.K.