Which of the following is known as foreign exchange ?
A. Transaction of International monetary business
B. Negotiable bills drawn in one country to be paid in another country
C. Both of them
D. None of them
How is termed the group which consists of Singapore, Hong kong, Taiwan, and south Korea ?
A. Four Dragons
B. Little Tigers
C. Four Tigers
D. All of these
Term the interchange of commodities across political frontiers without restriction such as tariffs, quotas, or foreign exchange controls ?
A. Open trade
B. Free trade
C. Open sky trade
D. Easy trade
There are certain products which are sold without brand name or trademark What these products are called ?
A. Generic
B. Forged goods
C. Contraband
D. Clean goods
Unlike a black market, what is called a system of secretly selling or trading commodities which is not necessarily illegal ?
A. Grey market
B. White market
C. Red market
D. Open market
Because of the decrease in the value of money, there comes exaggerated increase in incomes and prices. How is termed this system ?
A. Hyperinflation
B. Ultra-inflation
C. A cute inflation
D. Super inflation
Inflation is ?
A. Increase in the amount of circulating money
B. Lowering of purchasing power
C. Decrease in the amount of circulation money
D. None of the above
Total number of adults currently employed or actively seeking work in all economic sectors is known as ?
A. Labor force
B. Labor potential
C. Work force
D. All of them
Bank issued a document that authorizes the bearer to receive money from one of its foreign branches or from another bank abroad. What such document is called ?
A. letter of Credit
B. Letter of expression
C. Demand draft
D. Letter of intent
What is referred by the by economic theory “Liberalism” ?
A. The free market
B. Gold standard
C. Laissez faire
D. All of these
