Top 250+ Solved Business Economics MCQ Questions Answer
Q. When an economy union involves unifying currency it becomes _ .
a. Customs Union
b. Trade Union
c. Economic and Monetary Union
d. Trade area
Q. _ _ is an official institution of the European Union.
a. European Council
b. European Parliament
c. European Commission
d. European Investment Bank
Q. Euro is the official currency for _ _ member countries of European Union.
a. 16
b. 17
c. 18
d. 19
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
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
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
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
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
Q. Import embargo is an important retaiatory measure against_ _.
a. dumping
b. exports
c. domestic producer
d. domestic farmers
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
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