Top 250+ Solved Business Economics MCQ Questions Answer

From 271 to 285 of 288

Q. When an economy union involves unifying currency it becomes _ .

a. Customs Union

b. Trade Union

c. Economic and Monetary Union

d. Trade area

  • c. Economic and Monetary Union

Q.     _ _ is an official institution of the European Union.

a. European Council

b. European Parliament

c. European Commission

d. European Investment Bank

  • a. European Council

Q. The is the single currency of the European Union.

a. dollar

b. euro

c. yen

d. pound

  • b. euro

Q.     _ _ is the second largest currency in the world.

a. Dollar

b. Euro

c. Yen

d. Pound

  • b. Euro

Q.     _ _ became an ASEAN dialogue partner in 1995.

a. India

b. Pakisthan

c. Srilanka

d. USA

  • a. India

Q. Look East Policy has now transformed into a    _ _.

a. Act European Policy

b. Act East Policy

c. Act West Policy

d. East Asia Policy

  • b. Act East Policy

Q. The referendum for Brexit was held on _ .

a. 2023-06-16 00:00:00

b. 2023-06-17 00:00:00

c. 2023-08-17 00:00:00

d. 2023-06-18 00:00:00

  • a. 2023-06-16 00:00:00

Q. ASEAN was formed in .

a. 1947

b. 1967

c. 1977

d. 1987

  • a. 1947

Q.     _ is a statement of a systematic record of all economic transactions between one country and the rest of the world.

a. Deficit

b. Surplus

c. Balance of payments

d. Budget

  • c. Balance of payments

Q. Pick out the wrong statement.

a. Tariff restricts t

b. Import quotas have a direct effect in reducing imports

c. Voluntary export restraint is an example of tariff barriers.

d. An export subsidy is a government grant given to an export firm

  • c. Voluntary export restraint is an example of tariff barriers.

Q. The consumption effect of tariffs forces consumers to _ _.

a. increase their consumption due to tariffs.

b. pay lower price due to tariffs.

c. reduce their consumption due to tariffs.

d. depend on imports for consumption

  • c. reduce their consumption due to tariffs.

Q. Import embargo is an important retaiatory measure against_ _.

a. dumping

b. exports

c. domestic producer

d. domestic farmers

  • a. dumping

Q. Which of the following Non – Tariff Barriers prevents free movement of capital between countries?

a. preferential government procurement

b. Exchange Controls

c. Domestic subsidie

d. Local content requirement

  • b. Exchange Controls

Q.     _ is a measure under which a commodity of a specific volume or value is allowed to be imported in the country.

a. Voluntary Export Restraints

b. Combined duty

c. Import quota

d. Revenue tariff

  • c. Import quota
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