Foreign Trade Policy Page-7 section-3

Section 1 Section 2 Section 3

61.
Various bodies in the organisational structure of WTO are given below. On the basis of decision-making authority, arrange them from top to bottom.
1. General Council
2. Ministerial Conference
3. Specialised Committees
4. Council for Trade in Goods
Choose the correct answer

A. 2, 1, 4, 3

B. 1, 2, 3, 4

C. 1, 2, 4, 3

D. 4, 1, 2, 3

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62.
When one country providesmost favoured nation status (normal trade relations) for another, it agrees to

A. charge that nation's products a lower tariff than any other nations

B. charge that nation's products a tariff rate no higher than that on any other nation

C. charge that nations products a higher tariff than any other nation's

D. exports to that nation any products that it wants to purchase

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63.
India is a member of which of the following organisations?
1. IBRD
2. ICSID
3. MIGA
4. IDA
5. IFC
Select the correct answer

A. 1, 3, 4

B. 1, 3, 4, 5

C. 1, 2, 3, 4

D. All of the above

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64.
Which of the following is not a subsidiary body of general council of WTO?

A. Council for trade in goods

B. Council for trade related aspects of intellectual property rights

C. Council for trade in services

D. Council for settlement of disputes

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65.
Which of the following is not types of disequilibrium in the balance of payment?

A. Structural disequilibrium

B. Secular disequilibrium

C. Transactional disequilibrium

D. Cyclical disequilibrium

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66.
From the following statements relating to WTO agreements, choose the statements that are correct.
Statement I Diversity in technical regulations and industrial standards among countries leads to the introduction of Technical Barriers to Trade (TBT) Agreements.
Statement II The aim of WTO agreements on customs valuation is to ensure a fair, uniform and neutral system for the valuation of goods for customs purposes.
Statement III The agreement on Trade Related Investment Measures (TRIMs) applies only to measures that affect trade in goods.

A. Statements I and II are correct

B. Statement I is correct

C. Statements II and III are correct

D. All the statements are correct

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67.
Which of the following statements is fare incorrect?

A. Entrepot trade means sale of goodsto a foreign country

B. Import trade means sale of goods to a foreign country

C. Both A and B

D. None of the above

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68.
Difference between the time of introduction of the product in one country and the time, when the producers in other country start producing it

A. Imitation gap

B. Demand gap

C. Both A and B

D. Neither A nor B

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69.
Which of the following statement is incorrect?

A. In the balance of payment, indemnities paid by foreigners is unrequited receipts

B. In the balance of payment, gifts from foreigners is/are capital inflow

C. Both A and B

D. None of the above

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70.
Member countries of NAFTA are

A. Brazil, USA and Canada

B. Canada, USA and Mexico

C. USA, Argentina and Canada

D. Panama, USA and Canada

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Foreign Trade Policy

61. Various bodies in the organisational structure of WTO are given below. On the basis of decision-making authority, arrange them from top to bottom. 1. General Council 2. Ministerial Conference 3. Specialised Committees 4. Council for Trade in Goods Choose the correct answer

Answer & Solution

62. When one country providesmost favoured nation status (normal trade relations) for another, it agrees to

Answer & Solution

63. India is a member of which of the following organisations? 1. IBRD 2. ICSID 3. MIGA 4. IDA 5. IFC Select the correct answer

Answer & Solution

64. Which of the following is not a subsidiary body of general council of WTO?

Answer & Solution

65. Which of the following is not types of disequilibrium in the balance of payment?

Answer & Solution

Answer & Solution

67. Which of the following statements is fare incorrect?

Answer & Solution

68. Difference between the time of introduction of the product in one country and the time, when the producers in other country start producing it

Answer & Solution

69. Which of the following statement is incorrect?

Answer & Solution

70. Member countries of NAFTA are

Answer & Solution

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61.
Various bodies in the organisational structure of WTO are given below. On the basis of decision-making authority, arrange them from top to bottom.
1. General Council
2. Ministerial Conference
3. Specialised Committees
4. Council for Trade in Goods
Choose the correct answer

62.
When one country providesmost favoured nation status (normal trade relations) for another, it agrees to

63.
India is a member of which of the following organisations?
1. IBRD
2. ICSID
3. MIGA
4. IDA
5. IFC
Select the correct answer

64.
Which of the following is not a subsidiary body of general council of WTO?

65.
Which of the following is not types of disequilibrium in the balance of payment?

67.
Which of the following statements is fare incorrect?

68.
Difference between the time of introduction of the product in one country and the time, when the producers in other country start producing it

69.
Which of the following statement is incorrect?

70.
Member countries of NAFTA are