The comparative cost theory of international trade was developed by
A. David Ricardo
B. Haberler
C. Adam Smith
D. Alfred Marshall
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Which one among the following is not the salient feature of industrial policy since 1991?
A. Enormous expansion of the private sector
B. Redefining the role of public sector
C. Limited exposure of Indian industry to foreign competition
D. Pruning of the list of items reserved for SSI units
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Match the following.
List-I
List-II
a. Importing
1. Modes of international business
b. Marketing
2. Functions of international business
c. Sales expansion
3. Objectives of international business
d. Economic forces
4. External influence
A. a-1, b-2, c-3, d-4
B. a-3, b-1, c-4, d-2
C. a-4, b-1, c-3, d-2
D. a-4, b-3, c-2, d-1
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Match the following.
List-I (Economic Systems)
List-II (Features)
a. Traditional economy
1. Produces only those goods and services, which are required for the survival or which they want to consume
b. Capitalism
2. The freedom of occupation is absent or restricted
c. Socialism
3. Consumers have complete freedom of choice of consumption
d. Mixed economy
4. The private sector operates primarily with a profit motive and public sector seeks to achieve social welfare
A. a-3, b-1, c-4, d-2
B. a-1, b-4, c-3, d-2
C. a-1, b-3, c-2, d-4
D. a-3, b-2, c-4, d-1
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The most prevalent example of an economic integration emerging as part of an effort to ensure peace and security is
A. Customs Union
B. European Union
C. Economic Union
D. African Union
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Associate institutions of World Bank are
A. IDA
B. IFC
C. IMF
D. Both A and B
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Consider the following statements.
Assertion (A): Indian companies have established subsidiaries and joint ventures in a number of countries in different manufacturing industries and service sectors.
Reason (R): By restricting the areas of operations and growth, the government policy seriously constrained the potential of Indian companies to make a foray into the foreign countries.
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. Both (A) and (R) are incorrect
D. (A) is correct, but (R) is incorrect
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At the 2013 Bali Ministerial Conference, much of the focus was on a proposal to shield public stockholding programs for food security in developing countries, so that they would not be challenged legally even if a country's agreed limits for trade-distorting domestic support were breached. This is linked with administered price. Farming nations wanted it to be linked with 'green box' subsidies. This interim solution is called as:
A. Peace Clause
B. Green box clause
C. Amber box clause
D. Blue box clause
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Consider the following statements.
Assertion (A): International business has grown in more recent years at a faster pace than global production.
Reason (R): Growth through trade has increased, but growth through foreign direct investment has not.
A. Both (A) and (R) are correct
B. (A) is correct bur (R) is incorrect
C. (A) is incorrect but (R) is correct
D. Both (A) and (R) are incorrect
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Which of the following statement(s) is/are correct?
A. Mercantilism supported Autarky
B. Mercantilism originated in Britain
C. Mercantilism was based on the ideology of globalisation
D. All of the above
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Which one of the following is not a feature of Business Process Outsourcing (BPO)?
A. It enables executives to concentrate on strategy
B. It improves process and saves money
C. It decreases organizational capabilities
D. None of the above
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In recent years which among the following countries has been the largest source of foreign investment in India due to Double Taxation Avoidance Agreement?
A. Australia
B. Japan
C. China
D. Mauritius
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Which of the following is not studied in business environment?
A. National income
B. Cultural customs
C. Management of business function
D. All of the above
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Which of the following are modes of service supply of GATS?
A. Consumption abroad
B. Cross border services
C. Both A and B
D. None of these
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In balance of payment accounts, all goods exported and imported are recorded in
A. Capital A/c
B. Visible A/c
C. Invisible A/c
D. Merchandise A/c
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Which one of the following is not correct?
A. Free Trade Area among a group of countries means that they eliminate import tariffs against one another but maintain their original tariff levels against the rest of the world
B. Customs Union among a group of countries means that they eliminate import tariffs against one another, coordinate their macro policies and impose a common tariff wall against the rest of the world
C. In a common market the member countries eliminate import tariffs against the rest of the world
D. In an Economic Union, the member countries eliminate import tariffs against one another, allow free mobility to factors between them, coordinate their macro-policies and maintain a common tariff wall against the rest of the world
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Match the items given in
List-I and
List-Il .
List-I
List-II
a. Economic liberalization
1. IT-enabled services
b. Outsourcing
2. SFIO
c. Corporate frauds
3. Macro economic stability
d. Second generation reforms
4. Increased competition
A. a-1, b-2, c-3, d-4
B. a-1, b-3, c-2, d-4
C. a-2, b-3, c-4, d-1
D. a-4, b-1, c-2, d-3
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The Ricardian theory of comparative advantages relates to
A. Short-run outcome
B. Long-run outcome
C. Intermediate outcome
D. All the above
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Which one of the following treaties was covered by the Uruguay Round Negotiations?
A. General agreement on trade in services
B. Trade-related intellectual property rights
C. Trade-related investment measures
D. All of the above
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Match the items of
List-I with the items in
List-II and select a correct answer.
List-I
List-II
a. Vishesh Krishi Upaj Yojana I
1. scheme intended to reduce difficulties of exporters
b. EPCG
2. duty Entitlement Pass Book
c. DFRC
3. to boost exports of fruits, vegetables, flowers, minor forest produce, etc.
d. DEPB
4. relating to import of duty-free fuel
A. a-4, b-1, c-2, d-3
B. a-4, b-3, c-1, d-2
C. a-3, b-4, c-2, d-1
D. a-3, b-1, c-4, d-2
Select an option to see the answer and solution.