ECO | MCQs

Explanation

You can use the euro in 20 EU countries:

1. Austria,
2. Belgium,
3. Croatia,
4. Cyprus,
5. Estonia,
6. Finland,
7. France,
8. Germany,
9. Greece,
10. Ireland,
11. Italy,
12. Latvia,
13. Lithuania,
14. Luxembourg,
15. Malta,
16. the Netherlands,
17. Portugal,
18. Slovakia,
19. Slovenia
20. Spain.
    

Explanation

The CEBR releases its economic league table every year on 26 December 2020.

China will overtake the US to become the world's largest economy by 2028, according to the UK-based Centre for Economics and Business Research (CEBR).

 A world economic league table with forecasts for 193 countries to 2034.

Explanation

China announced 84 percent of Tariffs on US Goods in Response to Trade War Escalation.

In response to the Trump administration's 104% tariffs on Chinese imports, China raised its tariffs on US goods to as high as 84%.

On April 9, 2025 US President Donald Trump announced a 90-day pause on tariffs for all countries except China. 

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Explanation

In March 2023, Saudi Arabia’s Prince Fahad bin Mansour launched a $100 million Saudi Arabia-Pakistan Tech House, a new initiative aimed at creating opportunities through partnerships with information technology (IT) companies and enterprises in Pakistan.

Explanation

The main three sectors of economy of Pakistan are agricultural, industrial and services sectors.

Textile is the largest export industry in Pakistan

Agriculture is the largest sector of economy of Pakistan. 

Explanation

In 2020, most completed projects under CPEC were related to the road infrastructure, improving connectivity between Pakistan and China.

Major road projects like Hazara Motorway and parts of the Western Route were key achievements in this sector.

Explanation

Explanation

The annual inflation rate in Pakistan edged up to 9.2 percent in October of 2021 from 9.0 percent in the previous month.

 increased to 24.6% on a year-on-year basis in Oct 2022 

Pakistan's inflation rate accelerated to 38% in May of 2023 from 36.4% in April.

This was the highest reading since comparable records began in 1957, mainly due to rising food inflation (48.7% vs 48.1% in April).

Explanation

Agriculture was the primary economic foundation of ancient civilizations (e.g., Mesopotamia, Egypt, Indus Valley). It provided:

• Food surplus, enabling population growth.
• Raw materials (e.g., cotton, wool) for trade and crafts.
• Stability required for societal development.

Explanation

The government contracted $15.32 billion worth of new foreign loans from multilateral institutions and commercial banks during the previous fiscal year (2020-21). As per, Annual Report on Foreign Economic Assistance 2020-21.