Basic principle of economic organization is:

• A) Division of labor
• B) Skills of labor
• C) Education of labor
• D) Employment of labor

Internal ---------- and external --------- of least developing countries (LDCs) depends upon the industrial nation’s policies & efforts.

• A) Adjustment; borrowing
• B) Borrowing; investment
• C) Investment; adjustment
• D) Investment; borrowing

Which of following statement is TURE?

• A) Effectiveness diminished suddenly with fall in integration
• B) Effectiveness diminished progressively with fall in integration
• C) Effectiveness diminished progressively with rise in integration
• D) Effectiveness diminished suddenly with rise in integration

Robert Schuman claimed that ‘existing nation state incapable to improve --------- of their citizens by themselves'.

• A) Medical welfare
• B) Social welfare
• C) Political welfare
• D) Economic welfare

Economic activity can be divided in to --------and ----------context.

• A) Technological; Social
• B) Domestic; International
• C) Private; Public
• D) Technological; Agricultural

Capacity to earn foreign exchange is a function of domestic micro level ---------and policies of creditor’s nations.

• A) Educational policies
• B) Agricultural polices
• C) Skill building policies
• D) Health care policies

United Kingdom (UK) became dominant ruler of the world:

• A) Incidentally
• B) Permanently
• C) Currently
• D) Intentionally

International financial system broke down in:

• A) 1960s.
• B) 1940s.
• C) 1930s.
• D) 1950s.

Internal adjustments and -------- of least developing countries (LDCs) depends upon the industrial nation’s policies & efforts.

• A) External investment
• B) Internal investment
• C) Internal borrowing
• D) External borrowing

Which of following country is known as new workshop of the world?

• A) Russia
• B) Japan
• C) USA
• D) China

Significant reduction in income differentials across industrial and middle income countries were observed during:

• A) 1950 to 1980
• B) 1940 to 1960
• C) 1930 to 1950
• D) 1960 to 1980

Problems and-------across cooperating countries must be similar to ensure effective policy coordination.

• A) Climate
• B) Political system
• C) Resources
• D) Objectives

United Kingdom (UK) exchanged benefits from North America and -------- based on comparative advantages.

• A) Japan
• B) Canada
• C) China
• D) Russia

Three main outcomes of collective action and decisions may not include:

• A) Maximize uncertainty and risk
• B) Minimize uncertainty and risk of failure
• C) Organizing economic activities
• D) Pursuit the long term objectives

Banks face operational risk because of:

• A) Mistakes in dealings
• B) Borrower failed to re-pay
• C) Poor management control
• D) Running out of cash

Which of the following was observed in the era of 1950 to 1973?

• A) High rate of unemployment
• B) High rate of inflation
• C) Low growth of output
• D) High growth of output

Material welfare is function of the level of local:

• A) Saving
• B) Income
• C) Self-sufficiency
• D) Education

Geographical evolution is the function of ---------and exploitation of natural resources.

• A) Production
• B) Consumption
• C) Search
• D) Transportation

Which of following statement is TRUE?

• A) Guy Ryder was the founder of European Union
• B) Roberto Azevedo was the founder of European Union
• C) Robert Schuman was the founder of European Union
• D) Jim O’Neill was the founder of European Union

Aristotle defined optimum ----------which is equal to the level of self-sufficiency.

• A) Size of state
• B) Size of production
• C) Size of consumption
• D) Size of market