Economics & Trade Terms MCQs with Answers

One of the problems of trading with India is the NBTs against imports. What does NBT stands for?

• A.Non-Tariff Barriers
• B.National Border Taxes
• C.New Bilateral Treaties
• D.Non-Binding Tariffs

Stock market is raising is called

• A.Stagnant
• B.Bearish
• C.Bullish
• D.Volatile

When the State Bank wants to decrease money supply in the country, it?

• A.Purchases foreign currency
• B.Lowers the discount rate
• C.Reduces the cash reserve ratio
• D.Sells government securities

Past Paper MCQ

What is a duty in the context of international trade?

• A.A ban on certain foreign products
• B.A quota on imported goods
• C.A subsidy for domestic producers
• D.A tax on imports and exports

The period of the business cycle in which real GDP is increasing is called the?

• A.Contraction
• B.Recession
• C.Depression
• D.Expansion

The economic system with little or no external trade is called :

• A.Open economy
• B.Mixed economy
• C.Closed economy
• D.Command economy

Inferior goods are the goods which?

• A.Have positive income elasticity
• B.Have zero income elasticity
• C.Have negative income elasticity
• D.Have unit income elasticity

Economics is the science of _.

• A.Wealth
• B.Poverty
• C.Population
• D.Resources

SWOT Analysis is done to know the

• A.Systems, Workflows, Operations and Tasks
• B.Strengths, Weaknesses, Objectives and Targets
• C.Strategies, Weaknesses, Opportunities and Threats
• D.Strengths, Weaknesses, Opportunities and Threats

What is the correct formula for GDP Deflator?

• A.Nominal GDP / Real GDP
• B.Real GDP / Nominal GDP
• C.(Nominal GDP - Real GDP) / Real GDP
• D.(Real GDP - Nominal GDP) / Nominal GDP