Foreign Trade Policy

81

Match the following.

List-I	List-II
a. Patent	1. Literary, dramatic, musical work
b. Copyright	2. Medicines and food inventions
c. GIC	3. Visual symbol which can be in the form of a word, device
d. Trademark	4. Names or places used to identify the origin and quality of product

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

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Answer & Solution

Answer: Option A

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82

Mercantilism was known as . . . . . . . . in France.

A) colbertism B) physiocratism C) cameralism D) none of these

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Answer & Solution

Answer: Option A

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83

Physiocrates were opposed to . . . . . . . .

A) mercantilism B) cameralism C) colbertism D) none of these

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Answer & Solution

Answer: Option A

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84

How many attributes does Porter's Diamond consist of?

A) 3 B) 5 C) 4 D) 6

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Answer & Solution

Answer: Option C

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85

Which of the following statement is not correct?

A) Both the IMF and IBRD have headquarters in Washington B) Both IMF and World Bank are the known as the Bretton Woods Twins C) IBRD is known as World Bank also D) India's vote share in the International Monetary Fund is 10%

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Answer & Solution

Answer: Option D

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86

. . . . . . . . states that, lack of resources often helps countries to become competitive.

A) Competitive theory B) Porters diamond model C) Theory of mercantilism D) Product life cycle theory

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Answer & Solution

Answer: Option D

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87

The balance of payments account is conventionally divided into

A) current account and capital account B) visible account and invisible account C) long-term capital account and short-term capital account D) none of the above

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Answer & Solution

Answer: Option A

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88

More companies operate internationally because

A) New products take time to become known globally B) Domestic companies competitors, suppliers and customers have become international C) Both A and B D) None of the above

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Answer & Solution

Answer: Option B

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89

Specific tariffs are collected as

A) fixed amount of money per unit traded B) a percentage of the price of the product C) a percentage of the quantity of imports D) all of the above

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Answer & Solution

Answer: Option A

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90

Match the following.

List-I (Concepts)	List-II (Features)
a. Absolute advantage	1. State in which exports equal imports
b. Balance of trade	2. Ability of a country to produce a good more efficiently
c. Static equilibrium	3. It is a long-term phenomenon
d. Secular disequilibrium	4. Difference between merchandise exports and imports

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

Discuss

Answer & Solution

Answer: Option C

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