The trade theory of absolute advantage was developed by
A. Haberler
B. David Ricardo
C. Adam Smith
D. Alfred Marshall
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Globalisation can create problems for business because
A. it increases vulnerability to political risk and uncertainty when operating abroad
B. it means that they can increase prices
C. it can result in more competition
D. All of the above
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Maximization of which of the following should be the main aim of the private organization?
A. Profitability
B. Profit
C. Social welfare
D. Employee welfare
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International trade theory which provides that capital intensive country should export labour intensive goods and import capital goods is referred to as
A. Leontief Paradox
B. Heckscher-Ohlin Theory
C. Mercantilism Theory
D. Theory of Comparative Advantage
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Industry boundaries are blurring at an incredible rate as companies are recognizing that the new opportunities lie at the intersection of two or more industries, it is called:
A. Globalization
B. Customization
C. Industry convergence
D. Acquisition
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Tax jurisdiction is an example of which environment factor?
A. Social
B. Economic
C. Political
D. Legal
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DFEC stands for:
A. Direct Foreign Exchange Control
B. Direct Finance Exchange Control
C. Duty Free Export Credit
D. Duty Free Exchange Credit
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According to Charles Brady at Wellington, the main focus of corporate social responsibility should be
A. providing employees with good jobs and the opportunity to develop
B. giving part of the company's profits to worthy charities
C. providing free training to local schools and universities
D. making sure the company is as 'green' as possible
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The World Bank is owned by
A. member countries
B. United States of America
C. Both A and B
D. Neither A nor B
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World Bank grant loans from
A. own funds
B. borrowed funds
C. by guaranteeing in whole or part loans made by private investors through the investment channels
D. All of the above
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A situation where any advantage given by one member of the WTO to another member is extended to all WTO members is referred to as
A. Trade Diversion
B. Inter-Regional Principle
C. Most Favoured Nation
D. Least Traded Nation
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Keeping in the process of globalization, 'Levitt Thesis' means:
A. There should be standardization strategy for products and aggressive low pricing
B. There is homogenization of the same products throughout the world
C. There should be customized products to meet the national market
D. None of the above
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The Philip's curve shows a:
A. negative relationship between inflation and wage rates
B. positive relationship between inflation and unemployment
C. negative relationship between inflation and unemployment
D. negative relationship between unemployment inflation and economic growth
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Investors of FDI are
A. active
B. non-active
C. Both A and B
D. None of these
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Match the following.
List-I (Theories of International Trade)
List-II (Features)
a. Theory of mercantilism
1. It is developed by John Stuart Mill.
b. Theory of absolute advantage
2. What each country will export and what it will import is determined by comparative differences in labour costs.
c. Theory of comparative cost
3. It refers to the ability of a country to produce a good more.
d. Theory of reciprocal demand
4. It attributes and measures the wealth of a nation by the size of its accumulated treasures.
A. a-4, b-3, c-2, d-1
B. a-3, b-1, c-4, d-2
C. a-1, b-4, c-2, d-3
D. a-1, b-2, c-3, d-4
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Objective of World Bank does not include
A. assistance in the reconstruction of member countries
B. supplement private investment by its own loans and finances
C. short-term assistance to member countries
D. encourage long-term balanced growth of international trade
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Theory of comparative advantage is propounded by
A. Adam Smith
B. David Ricardo
C. Marshall
D. Robbins
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Which of the following statements is correct?
A. ASEAN was established in Bangkok
B. Originally, ASEAN had 7 members countries
C. Both A and B
D. All of the above
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In which of the following year, the Articles of Agreement of IMF were changed for the first time
A. 1967
B. 1968
C. 1969
D. None of these
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Match the items of
List-I with the items of
List-II and select the correct answer with the options given below.
List-I
List-II
a. SAARC
1. Philippines
b. ASEAN
2. Canada
c. EU
3. Afghanistan
d. NAFTA
4. Hungary
A. a-2, b-4, c-1, d-3
B. a-4, b-2, c-1, d-3
C. a-3, b-1, c-4, d-2
D. a-3, b-4, c-2, d-1
Select an option to see the answer and solution.