Open-Economy Macroeconomics Class 12 MCQs Questions with Answers

1. Trade of visible items between the countries is known as ________

2. The price of one currency in terms of another is known as _________

3. When the import and export of visible items are equal, the situation is known as _______

4. Which one is a source of the demand for foreign exchange?

5. Which one is a kind of fixed exchange rate?

6. Which one is a demerit of the fixed exchange rate?

7. The trade of visible and invisible items is known as _________

8. Hybrid in management of fixed and flexible exchange rate is known as ________

9. When there is a favourable balance of trade?

10. Which one is the visible item of Balance of Payments?

11. Other things remaining the same, when in a country the market price of foreign currency falls, national income is likely:

12. By exchange rate we mean:

13. Other things remaining unchanged, when in a country the price of foreign currency rises, national income is

14. When there is unfavourable balance of trade?

15. Balance of Trade =?

16. Foreign exchange is determined by:

17. The forms of foreign exchange market is/are:

18. When was the gold standard abandoned?

19. Which one is a merit of the fixed exchange rate?

20. Which items are included in the Balance of Payments?