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NTS Test Preparation Economics Mcqs Paper

NTS Test Preparation Economics  Mcqs Paper

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
2. Pinpoint the main objectives of World Trade Organization
(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
3. The number of family welfare centres in Punjab are:
(a) 560 (b) 940
(c) 1230 (d) 1503
4. Which of the following statement is not true?
(a) The World Bank has to affiliates, the International
Development Association and the International Finance
(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.
5. 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
6. The United Nations celebrated “International Year of
Shelter for the Homeless” in:
(a) 1985 (b) 1987
(c) 1990 (d) 1992
7. 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
(c) Refugees Rehabilitation Fund
(d) None of the above
8. The domestic production of crude oil in the country is
approximately (per day)
(a) 44,300 Barrels (b) 57,700 Barrels
(c) 65,200 Barrels (d) 70,000 Barrels
9. 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
10. The biggest market of Pakistani exports is:
(a) France (b) Saudi Arabia
(c) U.S.A (d) U.K.
11. The biggest market of Pakistani Imports is:
(a) USA (b) U.K.
(c) Russia (d) Japan
12. The Government has reduced the rate of profit on National
Saving Schemes primarily for the reason of:
(a) Enhancing the level of saving rate
Economics 3
(b) Discouraging the blockage of money in such schemes
(c) To encourage the investors to invest their capital in
active business ventures
(d) To bridge the gap between their profit rate and Bank’s
mark up rate on loans
13. Pakistan’s domestic demand for petroleum products in
growing annually with the percentage of:
(a) 3 percent (b) 5 percent
(c) 8 percent (d) 15 percent
14. The Women’s Division was created in the Federal
Government in January:
(a) 1974 (b) 1977
(c) 1979 (d) 1981
15. The first “World Population Conference” under the United
Nations was held in 1975 at:
(a) Kampala (b)Bucharest
(c) Nairobi (d)Ankara
16. Difference between a countrys exports and imports is:
(a) Trade Balance (b) Trade Deficit
(c) Trade Surplus (d) Volume of Trade
17. Cash crop is the crop:
(a) Which gives high profit to the farmers
(b) Which is grown only for sale
(c) Which is grown after taking Cash loan from Banks
(d) None of the above one
18. The lowering of the value of a currency in the international
market or against specific other currencies, which makes
exports cheaper and imports expensive is called:
(a) Devaluation (b) Revolution
(c)Inflation (d) Deflation
19. The value of the output of all goods and services produced
within a nation’s borders, normally given as a total for the
year. It thus includes the production of foreign owned firms
within the country, but excludes the income from
domestically owned firms located abroad, is called:
(a) Gross National Product
4 General Knowledge – MCQs
(b) Gross Home Products
(c) Gross Domestic Product
(d) General Domestic Production
20. Dow Jones index’ is the scale:
(a) For measuring Industrial profit in a year
(b) For measuring the average share price of leading
Japanese companies
(c) For measuring the average share price of major US
industrial companies
(d) None of the above


1 c 2 b 3 b 4 c 5 c 6 b
7 b 8 b 9 d 10c 11a 12d
13b 14a 15b 16a 17b 18a
19c 20c

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