World Economy & Finance

112 questions available

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All Major Economies 5 Economic Terms 81 Currencies 4 Central Banks 5 Stock Exchanges 6 International Trade 4 Economic Blocs 4 Financial Institutions 3
Showing 1–20 of 112

Q1.A complete ban on trade with a particular country is known as what?

Medium
A Embargo
B Tariff
C Quota
D Levy
International Trade PMS

Correct Answer: A

An embargo is a total prohibition of commerce with a country.

Q2.A quantitative limit on the amount of a good that may be imported is known as what?

Medium
A Quota
B Tariff
C Subsidy
D Dumping
International Trade FPSC

Correct Answer: A

An import quota limits the quantity of a good that can be imported.

Q3.A situation where government spending exceeds its revenue is known as what?

Medium
A Fiscal deficit
B Trade deficit
C Budget surplus
D Current account deficit
Economic Terms FPSC

Correct Answer: A

A fiscal or budget deficit occurs when expenditure exceeds revenue.

Q4.A sustained decline in the general price level is known as what?

Easy
A Deflation
B Inflation
C Stagflation
D Recession
Economic Terms FPSC

Correct Answer: A

Deflation is a general fall in the price level.

Q5.A sustained increase in the general price level is known as what?

Easy
A Inflation
B Deflation
C Recession
D Devaluation
Economic Terms PPSC

Correct Answer: A

Inflation is a general and sustained rise in prices.

Q6.A tax imposed on imported goods is known as what?

Easy
A Tariff
B Subsidy
C Quota
D Embargo
International Trade PPSC

Correct Answer: A

A tariff is a customs duty imposed on imports.

Q7.BRICS originally consisted of which countries?

Easy
A Brazil, Russia, India, China and South Africa
B Britain, Russia, Iran, China and Spain
C Brazil, Romania, India, Canada and Sweden
D Belgium, Russia, Italy, China and Serbia
Major Economies FPSC

Correct Answer: A

BRICS stands for Brazil, Russia, India, China and South Africa.

Q8.Devaluation of a currency generally has what effect on exports?

Medium
A Makes exports cheaper
B Makes exports costlier
C Has no effect
D Stops exports
Economic Terms CSS

Correct Answer: A

Devaluation lowers the foreign price of exports, making them more competitive.

Q9.ECO, the Economic Cooperation Organization, was founded by which three countries?

Medium
A Pakistan, Iran and Turkey
B Pakistan, India and Bangladesh
C Iran, Iraq and Syria
D Turkey, Greece and Cyprus
Economic Blocs FPSC

Correct Answer: A

ECO was founded in 1985 by Pakistan, Iran and Turkiye.

Q10.GDP stands for which of the following?

Easy
A Gross Domestic Product
B General Development Plan
C Gross Development Product
D Global Domestic Produce
Economic Terms PPSC

Correct Answer: A

GDP is Gross Domestic Product, the total value of goods and services produced.

Q11.MERCOSUR is a trading bloc located in which region?

Hard
A South America
B Africa
C Southeast Asia
D Eastern Europe
Economic Blocs PMS

Correct Answer: A

MERCOSUR is a South American trade bloc including Brazil and Argentina.

Q12.MIGA, part of the World Bank Group, primarily provides what?

Hard
A Investment guarantees
B Agricultural loans
C Currency printing
D Trade tariffs
Financial Institutions CSS

Correct Answer: A

MIGA provides political risk insurance and guarantees to investors.

Q13.NASDAQ is a stock exchange located in which country?

Easy
A United States
B United Kingdom
C Japan
D Germany
Stock Exchanges FPSC

Correct Answer: A

NASDAQ is an American stock exchange based in New York.

Q14.OPEC is an organisation of countries that export which commodity?

Easy
A Petroleum
B Gold
C Wheat
D Cotton
Economic Blocs PPSC

Correct Answer: A

OPEC is the Organization of the Petroleum Exporting Countries.

Q15.SDR, a reserve asset created by the IMF, stands for what?

Medium
A Special Drawing Rights
B Standard Deposit Reserve
C Sovereign Debt Reserve
D Strategic Development Reserve
Currencies CSS

Correct Answer: A

Special Drawing Rights are international reserve assets created by the IMF.

Q16.Selling goods in a foreign market below cost is known as what?

Medium
A Dumping
B Subsidising
C Hedging
D Arbitrage
International Trade CSS

Correct Answer: A

Dumping is exporting goods at a price below their normal value.

Q17.The central bank of Pakistan is which of the following?

Easy
A State Bank of Pakistan
B National Bank of Pakistan
C Habib Bank
D Bank of Punjab
Central Banks CSS

Correct Answer: A

The State Bank of Pakistan is the central bank of Pakistan.

Q18.The central bank of the Eurozone is which of the following?

Medium
A European Central Bank
B Bank of Europe
C Bundesbank
D Banque de France
Central Banks PMS

Correct Answer: A

The European Central Bank manages monetary policy for the Eurozone.

Q19.The central bank of the United Kingdom is which of the following?

Easy
A Bank of England
B Royal Bank of Britain
C Bank of London
D Lloyds Bank
Central Banks FPSC

Correct Answer: A

The Bank of England is the central bank of the United Kingdom.

Q20.The central bank of the United States is known by which name?

Easy
A Federal Reserve System
B Bank of America
C US Treasury Bank
D National Bank of America
Central Banks PPSC

Correct Answer: A

The Federal Reserve System is the central bank of the United States.