Foreign Trade Policy

11

Rapid economic development or economic growth requires most efficientuse of the

A) Country's resources B) Foreign investment C) Both A and B D) None of these

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

12

The organisation that currently establishes rules of conduct for firms engaging in international trade is the

A) World Bank B) International Trade Commission C) Department of Justice D) World Trade Organisation

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

13

Match the following with regard to withdrawing measures lender TRIMS.

List-I (Nations)	List-II (Provisions)
a. Developed countries	1. Within 2 years of date of entry in WTO
b. Developing countries	2. Within 5 years of date of entry in WTO
c. Least Developed countries	3. Within 3 years of date of entry in WTO
	4. Within 5 years of date of entry in WTO

A) a-2, b-1, c-4 B) a-3, b-1, c-4 C) a-1, b-2, c-4 D) a-1, b-4, c-2

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

14

The Leontief paradox stated that

A) USA's exports were capital intensive and imports were labour intensive B) USA's exports and imports both were capital intensive C) USA's exports and imports both were labour-intensive D) USA's exports were labour intensive and imports were capital intensive

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

15

Bilateral agreements that restrict exports are called

A) export quotas B) transit tariffs C) orderly marketing arrangements D) voluntary export restraints

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

16

Trade Related Investment Measures (TRIMS) doesn't apply for

A) measures that affect trade in goods B) measures that lead to restrictions in quantities C) discouraging measures that limit a company's imports D) discouraging measures that limit a company's exports

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

17

Which of the following statement is not correct with regard to turnkey project?

A) It is designed and developed by the host country B) It generally deals with designing facility, constructing and training personnels C) It is exporting of services D) All of the above

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

18

Match the following.

List-I (Theories of International Trade)	List-II (Founders)
a. Theory of reciprocal demand	1. David Ricordo
b. Theory of absolute advantage	2. Adam Smith
c. Theory of comparative advantage	3. Raymond Vernon
d. Product life cycle theory of trade	4. John Stuart Mill

A) a-4, b-3, c-1, d-2 B) a-3, b-1, c-4, d-2 C) a-2, b-3, c-4, d-1 D) a-4, b-2, c-1, d-3

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

19

An efficient dispute settlement mechanism under WTO was brought in by which one of the following?

A) The Uruguay Round Agreement B) Doha Round C) UNDP Human Development Report, 2000 D) The Uruguay and Geneva Round of Negotiation

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

20

Which of the following statement is not correct with regard to TRIPS agreement?

A) Protection and enforcement of all IPR shall fulfil the goals of contributing to innovation, promotion of technological development and transfer of technology B) It is the universal intellectual property law C) Every member of WTO should include TRIPs provisions in their domestic intellectual property legislations D) TRIPS requires WTO members to grant copyright rights to content creators

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board