11
Statement I Trade policy review body is a forum for the entire membership to review the trade policiesof all WTO members.Statement II The WTO administers the 'Trade Review Mechanism.'
A)
Statement I is correct, but Statement II is incorrect
B)
Statement II is correct, but Statement I is incorrect
C)
Both statements are correct
D)
Both statements are incorrect
Answer & Solution
Answer: Option
C
12
Match the items given in
List-I with the items of
List-II .
List-I List-II
a. CIP
1. Carriage
b. CPT
2. Insurance and carriage
c. DAF
3. Freight, cost and insurance
d. CIF
4. Frontier
A)
a-2, b-1, c-4, d-3
B)
a-1, b-2, c-3, d-4
C)
a-3, b-2, c-4, d-1
D)
a-4, b-3, c-2, d-1
Answer & Solution
Answer: Option
A
13
According to this theory, the holdings of a country's treasure primarily in the form of gold constituted its wealth.
A)
Gold theory
B)
Ricardo theory
C)
Mercantilism theory
D)
HO theory
Answer & Solution
Answer: Option
C
14
Name the two schemes introduced under the new foreign trade policy?
A)
Merchandise Export from India Scheme and Services Export from India Scheme
B)
Services Export from India Scheme and Services Import from India Scheme
C)
Services Import from India Scheme and Merchandise Export from India Scheme
D)
Merchandise Import from India Scheme and Services Export from India Scheme
Answer & Solution
Answer: Option
A
15
Which of the following statement is not true about the WTO?
A)
WTO was officially constituted on 1st January, 1991
B)
WTO is a permanent organisation
C)
Uruguay round gave the birth to the WTO
D)
Ministerial conference is the highest policy making body of the WTO
Answer & Solution
Answer: Option
A
16
Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R) . Read the statement and choose the correct answer.Assertion (A) The World Investment Report has prepared a transnationality index comprising average of three ratios based on foreign assets,
foreign sales, foreign employment.Reason (R) Given the increasing liberal investment and environment policy in which such companies operate, transnationality would enhance strategy for greater penetration.
A)
Both (A) and (R) are correct and (R) is the right explanation of (A)
B)
Both (A) and (R) are correct, but (R) is not the right explanation of (A)
C)
(A) is correct, but (R) is incorrect
D)
Both (A) and (R) are incorrect
Answer & Solution
Answer: Option
A
17
Which of the following pair(s) is/are not correctly matched?
A)
It assumes that factor modility within a country is complete ⟺ Endowment theory
B)
It assumes that new products are initially developed in capital rich countries ⟺ imitation gap theory
C)
Both A and B
D)
None of the above
Answer & Solution
Answer: Option
B
18
Which of the following are objectives of World Bank?
A)
To assist in the development and reconstruction of the areas of the members, by facilitating the investment of capital for productive purposes
B)
To endorse private foreign investments by means of guarantees or participation in loans and other investments made by the private investors
C)
To promote the long range balanced growth of international trade and maintenance of equilibrium in the Balance of Payments of the member nations
D)
All of the above
Answer & Solution
Answer: Option
D
19
Statement I 'Trade Creation' and 'Trade Diversion' both have welfare implications.Statement II Regional partners should be competitive and not complementary, for the purpose of the most efficient use of economic resources within a Customs Union.
A)
Statement I is true, but Statement II is false
B)
Statement II is true, but Statement I is false
C)
Both statements are true
D)
Both statements are false
Answer & Solution
Answer: Option
C
20
The BoP is a fund statement that reflects changes in assets, liabilities and net worth during a . . . . . . . . period.
A)
given
B)
specified
C)
financial
D)
none of these
Answer & Solution
Answer: Option
B
