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Economics

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21

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Pakistan exports

easy2021FIA Sub Inspector Paper 13-12-2021
EconomicsFIA

The largest export of Pakistan is ______?

A
Textile
B
Oil
C
Gold
D
None of these
Explanation and memory cue

Pakistan's largest export sector is textiles, which includes garments, cotton yarn, and fabrics. This sector contributes the most to the country's export earnings compared to oil, gold, or other categories.

22

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Agricultural Economics

easy2018FIA Sub Inspector Paper 2018 Batch 2
EconomicsFIA

Safety stock of grains held by the government is called:

A
Buffer stock
B
Overall Stock
C
Overhead stock
D
None of these
Explanation and memory cue

Safety stock refers to the extra quantity of grains held by the government to protect against uncertainties in supply and demand, which is known as buffer stock. This helps stabilize prices and ensure food security.

23

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Economic measures of Alauddin Khilji

medium2018FIA Sub Inspector Paper 2018 Batch 2
EconomicsFIA

The most important economic feature in the economic measures pursued by Alauddin Khilji was:

A
Market
B
Market control
C
Both
D
None of these
Explanation and memory cue

Alauddin Khilji's economic policies prominently focused on strict market control to stabilize prices and ensure supplies for his large standing army and the general populace. He implemented price controls on essential commodities such as grains, cloth, horses, cattle, and slaves by fixing prices, establishing state-run markets, appointing market controllers (Shahna-i-Mandi), and enforcing regulations against hoarding and black marketing. These measures were aimed at regulating the market rather than promoting free market activity, making 'Market control' the most important economic feature of his economic measures.

24

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Foreign Exchange

medium2013
EconomicsFIA

What do you understand by the term "Kerb" in foreign currency dealings?

A
The exchange rates of currencies in the open market
B
The exchange rate of the currencies determined by the State Bank of Pakistan
C
All sorts of monetary dealings in foreign currencies within the stock exchange
D
None of these
Explanation and memory cue

In foreign currency dealings, 'Kerb' refers to the exchange rates of currencies traded in the open market, outside official channels. This distinguishes it from official rates set by authorities like the State Bank.

25

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Currency

easy2013
EconomicsFIA

What is the currency of Jamaica?

A
Pound
B
Peso
C
Dollar
D
None of these
Explanation and memory cue

The official currency of Jamaica is the Jamaican Dollar, abbreviated as JMD or J$, and symbolized by the dollar sign $. Although the option 'Dollar' does not specify 'Jamaican Dollar,' it is the correct currency type for Jamaica. Options A (Pound) and B (Peso) are incorrect, and option D (None of these) is incorrect because 'Dollar' correctly identifies the currency type. Therefore, the correct answer is C.

26

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Macroeconomics

easy2011FIA Assistant Director Paper 2011
EconomicsFIA

Which was the biggest economy in the world in 2010?

A
USA
B
Japan
C
China
D
India
Explanation and memory cue

In 2010, the United States had the largest economy in the world by nominal GDP, surpassing other countries such as Japan, China, and India.

27

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Macroeconomics

medium2011FIA Assistant Director Paper 2011
EconomicsFIA

Which was the third biggest economy in the world in 2010?

A
Japan
B
India
C
China
D
None of these
Explanation and memory cue

In 2010, the third biggest economy in the world by nominal GDP was Japan, following the United States and China. India ranked lower than Japan at that time.

28

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Macroeconomics

easy2011FIA Assistant Director Paper 2011
EconomicsFIA

Which was the second biggest economy in the world in January 2010?

A
USA
B
Japan
C
India
D
None of these
Explanation and memory cue

As of January 2010, Japan was the second largest economy in the world by nominal GDP, after the USA. India was ranked lower at that time, and "None of these" is incorrect.

29

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Global Economy

medium2011FIA Assistant Director Paper 2011
EconomicsFIA

Which country was the second biggest economy in the world in 2016 among the given options?

A
France
B
Japan
C
India
D
China
Explanation and memory cue

In 2016, the United States was the world's largest economy with a nominal GDP of approximately $18.6 trillion. China was the second largest economy with a GDP of about $11.2 trillion. Therefore, China did not become the biggest economy in 2016. The question as posed is flawed because the correct answer (United States) is not listed among the options. Among the given options, China was the second largest economy in 2016, but it was not the biggest. The question should be corrected to reflect that the United States was the biggest economy in 2016, or the options should include the United States to be accurate.