51
Match the items given in
List-I and
List-II .
List-I List-II
a. Beggar thy Neighbour Trade policy
1. Having low factor of interdependence
b. Mercantilism theory
2. Having an advantage of earning a return on knowledge asset
c. Multi-domestic strategy
3. Alleviating some domestic economic problem by exporting to foreign countries
d. Turnkey project
4. Propagates encouragement of exports and discouraging imports
A)
a-3, b-1, c-2, d-4
B)
a-3, b-2, c-1, d-4
C)
a-3, b-4, c-1, d-2
D)
a-3, b-1, c-4, d-2
Answer & Solution
Answer: Option
C
52
Which of the following statement is correct?
A)
Balance of trade is a flow concept
B)
Balance of capital account is a stock concept
C)
Accommodating capital flows are planned
D)
None of the above
Answer & Solution
Answer: Option
A
53
Which of the following pairs is not correctly matched?
A)
It explains changes in national income and their impact on BoP ⟺ The absorption approach to BoP
B)
It emphasises the role played by money supply incountry's BoP ⟺ Monetary approach to BoP
C)
The volumes of exports and imports of a country is determined by relative prices ⟺ Traditional approach to BoP
D)
None of the above
Answer & Solution
Answer: Option
D
54
Which of the following is not the items of current account?
A)
Amortisation
B)
Trade balance
C)
Private transfers
D)
Investment incomes
Answer & Solution
Answer: Option
A
55
The following statements are related to patents. Which of the following statements that are not correct.Statement I Patent is aimed to encourage economic and technological development.Statement II Patent can be protected only for a limited period.Statement III The law of patent is international in its operation.Statement IV When the patent right expire, the technology becomes public property.
A)
Statements II, III and IV are not correct
B)
Statements II and IV are not correct
C)
Statement III is not correct
D)
Statement IV is not correct
Answer & Solution
Answer: Option
B
56
Who has demonstrated how prosperity of one country brings prosperity to other countries parttcipatmg in international trade?
A)
Keynes
B)
Adam Smith
C)
Ohlin
D)
None of these
Answer & Solution
Answer: Option
A
57
What are countervailing measures?
A)
Measures which a state may initiate against another state when that other state has legally subsidised any of its domestic industries
B)
Measures which a national government may initiate against another state when that other state, has not subsidised any of its domestic industries
C)
Measures which a state may initiate against another state when that other State has illegally subsidised any of its domestic industries
D)
Measures which a national government may initiate against another state when that other state has not illegally subsidised any its domestic industries
Answer & Solution
Answer: Option
C
58
Which of the following mode of service, as per GATS, involves allowing the foreign nationals i.e. the natural persons to provide services in other countries?
A)
Consumption Abroad
B)
Cross Border Trade
C)
Commercial Presence
D)
Presence of Natural Persons
Answer & Solution
Answer: Option
D
59
The BoP is composed of two accounts, They are
A)
Capital account
B)
Current account
C)
Company account
D)
Both A and B
Answer & Solution
Answer: Option
D
60
Which of the statements best describe the typical behaviour of national governments towards imports and exports?
A)
Imports are encouraged, exports are discouraged
B)
Both exports and imports are discouraged
C)
Exports are encouraged, imports are discouraged
D)
Both exports and imports are encouraged
Answer & Solution
Answer: Option
C
