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    TOTAL MARKS: 40 1. Absolute advantage theory was presented by : a) smith b) walker c) hecksher d) Marshall 2. Comparative cost theory was given by : none of them 3. In balance of payments are included : d) visible goods e) invisible goods f) both g) none LONG QUESTION'S (Attempt any two) 8. 2 = 17 1. Explain theory of comparative cost and also evaluate it critically? 2. Describe the classical

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    TOTAL MARKS: 40 1. Absolute advantage theory was presented by : a) smith b) walker c) hecksher d) Marshall 2. Comparative cost theory was given by : none of them 3. In balance of payments are included : d) visible goods e) invisible goods f) both g) none LONG QUESTION'S (Attempt any two) 8. 2 = 17 1. Explain theory of comparative cost and also evaluate it critically? 2. Describe the classical

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    Economics Test 12

    Uploaded by

    ali_sattar15
    TOTAL MARKS: 40 1. Absolute advantage theory was presented by : a) smith b) walker c) hecksher d) Marshall 2. Comparative cost theory was given by : none of them 3. In balance of payments are included : d) visible goods e) invisible goods f) both g) none LONG QUESTION'S (Attempt any two) 8. 2 = 17 1. Explain theory of comparative cost and also evaluate it critically? 2. Describe the classical

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    ECONOMICS I.

    COM PART 1 OBJECTIVE (chapter 12) (MCQS) TOTAL MARKS: 40

    1. Absolute advantage theory was presented by : a) Adam smith b) walker c) hecksher d) Marshall 2. comparative cost theory was given by : a) Marshall b) Ricardo c) none of them 3. which is included in balance of trade : a) visible goods b) invisible goods c) none 4. factor of production are more mobile: a) local trade b) international trade c) none 5. in balance of payments are included : d) visible goods e) invisible goods f) both g) none SHORT QUESTIONS ( 2 *9= 18) 1. 2. 3. 4. 5. 6. 7. 8. 9. what is meant by surplus of payments? Define domestic trade? Define international monetary fund? Define balance of payment? Write items of balance of payment? State advantages of international trade? Write measures to improve balance of payment of a country? Write name of invisible goods? Write disadvantages of international trade? LONG QUESTIONS (Attempt any two) 8.5 *2 = 17 1. Explain theory of comparative cost and also evaluate it critically? 2. Describe the classical theory of international trade and also criticize it?

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