Economics & Trade Terms MCQs with Answers

Which country has imposed tax on Carbon?

• A.Singapore
• B.Sweden
• C.Norway
• D.Finland

The term 'Globalization' was coined by?

• A.Milton Friedman
• B.Adam Smith
• C.John Maynard Keynes
• D.Theodore Levitt

Past Paper MCQ

A "multinational" means _?

• A.A company operating in several countries
• B.A company operating only in its home country
• C.A government agency managing foreign trade
• D.An international treaty organization

Which of the following is a Cottage Industry?

• A.Handicraft
• B.Automobile Manufacturing
• C.Steel Production
• D.Petroleum Refining

Which British philosopher and economist is regarded as the 'founder of modern Economy'?

• A.Adam Smith
• B.John Maynard Keynes
• C.David Ricardo
• D.Thomas Malthus

As of recent data, what is Turkey's approximate rank in the world economy by nominal GDP?

• A.15th
• B.17th
• C.19th
• D.21st

Australia is facing a bad situation despite being politically stable. What is the reason?

• A.Trade deficit with China
• B.High inflation rate
• C.Rising unemployment
• D.Poor GDP growth

PTA stands for:

• A.Progressive Tariff Accord
• B.Pacific Trade Alliance
• C.Pan-Atlantic Treaty Association
• D.Preferential Trade Agreement

The 2024 Nobel Prize in Economics was awarded to Simon Johnson, James Robinson and Daron Acemoglu for the study of which of the following?

• A.How institutions are formed and affect prosperity
• B.The impact of climate change on global trade
• C.Behavioral economics and decision-making biases
• D.Cryptocurrency and digital monetary systems

Mr. Muhammad Yunus of Bangladesh got Nobel Prize for his contribution in the field of ?

• A.Peace
• B.Physics
• C.Economics
• D.Literature