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B Com Exam  >  B Com Tests  >  Test: Economic Trends - B Com MCQ

Test: Economic Trends - B Com MCQ


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10 Questions MCQ Test - Test: Economic Trends

Test: Economic Trends for B Com 2024 is part of B Com preparation. The Test: Economic Trends questions and answers have been prepared according to the B Com exam syllabus.The Test: Economic Trends MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Economic Trends below.
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Test: Economic Trends - Question 1
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What is the primary focus of the Balance of Trade?

Detailed Solution for Test: Economic Trends - Question 1
The Balance of Trade primarily focuses on monitoring and recording the imports and exports of goods made by a country with the rest of the world.
Test: Economic Trends - Question 2
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Which of the following is NOT a component of the Balance of Payments?

Detailed Solution for Test: Economic Trends - Question 2
"Trade Equilibrium" is not a component of the Balance of Payments. The components include the Current Account, Capital Account, and Errors and Omissions.
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Test: Economic Trends - Question 3
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What does the Balance of Payments track besides physical goods?

Detailed Solution for Test: Economic Trends - Question 3
The Balance of Payments tracks not only physical goods but also capital transfers and other economic transactions, including services and income.
Test: Economic Trends - Question 4
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Which statement is true regarding the Balance of Trade and Balance of Payments?
Detailed Solution for Test: Economic Trends - Question 4
The statement "Balance of Trade is a subset of Balance of Payments" is true. Balance of Trade is a major segment of the larger Balance of Payments.
Test: Economic Trends - Question 5
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What does a favorable Balance of Trade indicate?
Detailed Solution for Test: Economic Trends - Question 5
A favorable Balance of Trade indicates that the value of exports is greater than the value of imports, showcasing a positive economic position of the country.
Test: Economic Trends - Question 6
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What type of transactions are NOT recorded in the Balance of Trade?
Detailed Solution for Test: Economic Trends - Question 6
Capital transfers are NOT recorded in the Balance of Trade. Balance of Trade only deals with transactions related to goods.
Test: Economic Trends - Question 7
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What type of economic transactions are captured by the Balance of Payments?
Detailed Solution for Test: Economic Trends - Question 7
The Balance of Payments captures both tangible and intangible items, including goods, services, and income transactions.
Test: Economic Trends - Question 8
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Which statement correctly describes the result of the Balance of Payments?
Detailed Solution for Test: Economic Trends - Question 8
The Balance of Payments can result in a surplus, deficit, or it can be balanced. It depends on whether the credits or debits are higher.
Test: Economic Trends - Question 9
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Which account within the Balance of Payments records capital expenditure and income?
Detailed Solution for Test: Economic Trends - Question 9
The Capital Account within the Balance of Payments records all capital expenditure made and income generated by both the public and private sectors.
Test: Economic Trends - Question 10
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What does the Balance of Payments provide compared to the Balance of Trade?
Detailed Solution for Test: Economic Trends - Question 10
The Balance of Payments provides a more complete economic view compared to the Balance of Trade. Balance of Payments captures all economic transactions, including goods, services, and income.
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