By infomcqslearning@gmail.com 
Who is the President of the United States as of March 2025?
A) Donald Trump
B) Joe Biden ✅
C) Barack Obama
D) Ron DeSantis
What is a tariff?
A) A type of shipping fee
B) A tax on exported goods
C) A tax on imported goods ✅
D) A customs clearance form
Which Pakistani industry is most impacted by U.S. tariffs?
A) Agriculture
B) Textiles ✅
C) Construction
D) Tourism
What is the purpose of a tariff?
A) To encourage free trade
B) To make imports cheaper
C) To protect domestic industries ✅
D) To promote foreign investments
Which international body regulates trade disputes?
A) UN
B) WTO ✅
C) IMF
D) G20
Which Pakistani city is considered the textile capital of the country?
A) Karachi
B) Lahore
C) Faisalabad ✅
D) Multan
What does the acronym WTO stand for?
A) World Trade Order
B) Worldwide Tariff Organization
C) World Trade Organization ✅
D) Western Trade Office
When tariffs are increased, what usually happens to imported product prices?
A) They decrease
B) They stay the same
C) They increase ✅
D) They are unaffected
Which U.S. government office is responsible for negotiating trade deals?
A) Department of State
B) USTR ✅
C) IRS
D) Department of Labor
Why might the U.S. impose tariffs on another country?
A) To strengthen the dollar
B) To increase tourism
C) To correct trade imbalances ✅
D) To improve internet speed
Which sector in Pakistan heavily depends on exports to the U.S.?
A) Oil and gas
B) Technology
C) Apparel and garments ✅
D) Pharmaceuticals
What happens to demand for foreign goods when tariffs are imposed?
A) Demand increases
B) Demand decreases ✅
C) Demand stays constant
D) Demand becomes unpredictable
Which of the following is a potential downside of tariffs?
A) Increase in domestic competition
B) Rise in consumer prices ✅
C) More foreign investment
D) Decrease in inflation
Which trade agreement was replaced by USMCA?
A) WTO
B) NAFTA ✅
C) ASEAN
D) TTIP
Which country is Pakistan’s largest export partner for textiles?
A) China
B) United States ✅
C) Germany
D) UAE
As of 2025, which currency does the U.S. use in global trade?
A) Euro
B) Pound
C) U.S. Dollar ✅
D) Yen
Which U.S. law allows the president to impose tariffs in a national emergency?
A) Defense Act
B) Emergency Trade Act
C) Trade Expansion Act ✅
D) Global Tariff Law
Which of these is a reason for reducing tariffs?
A) To protect local businesses
B) To increase government revenue
C) To encourage foreign trade ✅
D) To reduce exports
Which country has faced the most U.S. tariffs in recent years?
A) India
B) Pakistan
C) China ✅
D) Turkey
What does a trade deficit mean?
A) More exports than imports
B) No trade activity
C) More imports than exports ✅
D) Equal imports and exports Which type of goods usually face higher tariffs?
A) Essential goods
B) Luxury or non-essential goods ✅
C) Agricultural goods
D) Domestic products
What is the impact of tariffs on local manufacturers?
A) They face more competition
B) Their products become more expensive
C) They get protection from foreign competition ✅
D) They stop producing
The U.S. imposes tariffs mainly to protect which of the following?
A) Imports
B) Export subsidies
C) Domestic industries ✅
D) Global trade
In international trade, what does “bilateral” mean?
A) Involving two sides ✅
B) Involving five nations
C) No trade at all
D) One-sided agreements
Which major U.S. import from Pakistan falls under the GSP (Generalized System of Preferences)?
A) Raw cotton
B) Bed linens and towels ✅
C) Tea and spices
D) Cell phones
Which term describes an increase in prices due to high import taxes?
A) Deflation
B) Inflation ✅
C) Devaluation
D) Recession
In trade policy, what is “retaliatory tariff”?
A) A tariff meant to benefit both parties
B) A tariff imposed in response to another country’s tariff ✅
C) A bonus tax
D) A gift duty
Which U.S. port receives the most imports from South Asia?
A) Port of New York
B) Port of Houston
C) Port of Los Angeles ✅
D) Port of Seattle
Which trade tool is used to limit the quantity of imports?
A) Tariff
B) Subsidy
C) Import quota ✅
D) Export license
Which Pakistani export saw growth in 2024 despite global tariff tensions?
A) Oil
B) Sports goods ✅
C) Wheat
D) Automobiles
Which country replaced China as the largest exporter to the U.S. in some categories in 2024?
A) Pakistan
B) Vietnam ✅
C) Bangladesh
D) India
Which global event in 2020–2022 impacted global supply chains and tariffs?
A) G7 Summit
B) FIFA World Cup
C) COVID-19 pandemic ✅
D) Brexit
Which term refers to the full removal of trade barriers between two countries?
A) Closed economy
B) Protectionism
C) Free trade ✅
D) Tariff zone
Which sector of Pakistan’s economy is most dependent on exports?
A) Real estate
B) Services
C) Manufacturing ✅
D) Education
Why are U.S. tariffs on Pakistani goods a concern for small businesses?
A) They encourage overproduction
B) They reduce export profits ✅
C) They lower import costs
D) They increase loan access
Which economic indicator is directly affected by high tariffs?
A) Population
B) Literacy rate
C) Inflation ✅
D) Life expectancy
Who usually pays the price when tariffs are raised?
A) Exporting governments
B) Domestic factories
C) Consumers ✅
D) Border agents
Which U.S. state imports the most textile products?
A) Florida
B) New York ✅
C) Alaska
D) Nevada
A ‘trade surplus’ means:
A) More imports than exports
B) No trade at all
C) Equal exports and imports
D) More exports than imports ✅
Which term describes a government policy to restrict trade with another country?
A) Quota
B) Tariff
C) Sanction ✅
D) Subsidy
Which organization reports global trade data annually?
A) UNICEF
B) WTO ✅
C) NATO
D) UNESCO
Which is a common criticism of tariffs?
A) They reduce dependency
B) They encourage innovation
C) They hurt consumers ✅
D) They lower pollution
Which industry in Pakistan has been growing despite tariff challenges?
A) Tourism
B) IT and software ✅
C) Mining
D) Aerospace
The term “trade war” refers to:
A) Military conflict
B) Cyberattacks on trade systems
C) Countries imposing tariffs on each other ✅
D) Trade education policies
Which year saw a peak in global trade tensions in the past decade?
A) 2015
B) 2018 ✅
C) 2022
D) 2024
Which South Asian country is part of both SAARC and the WTO?
A) Pakistan ✅
B) Iran
C) Afghanistan
D) Myanmar
Which U.S. federal department handles customs and border protection?
A) Department of State
B) Department of Homeland Security ✅
C) Department of Energy
D) Department of Labor
What does “Most Favored Nation” (MFN) status mean in trade?
A) Top export destination
B) Highest military partner
C) Equal trade treatment ✅
D) Free immigration
Which Pakistani export is growing in popularity in the U.S. food sector?
A) Sugar
B) Spices ✅
C) Tea
D) Dates
Which policy tool is the opposite of a tariff?
A) Subsidy ✅
B) Sanction
C) Ban
D) Regulation