India's ranking in the 'Ease of Doing Business Index' is sometimes seen in the news. Which of the following has declared that ranking?
A. Organization for Economic Cooperation and Development (OECD)
B. World Economic Forum
C. World Bank
D. World Trade Organization (WTO)
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Which of the following element determine economic environment of a country?
1. Economic system
2. Policies
3. Money and capital market
4. Social cost
Select the correct answer using the options given below
A. Both 1 and 2
B. Both 2 and 3
C. Only 3
D. All of the above
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An human being takes birth in which situation, period and country and survive for his life, is known as its
A. society
B. environment
C. family
D. None of these
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Which of the following Organizations brings out the publication known as 'Worlds Economic Outlook'?
A. The International Monetary Fund
B. The United Nations Development Programme
C. The World Economic Forum
D. The World Bank
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Which of the following concepts was popularized by J. M. Keynes?
A. Monetary policy
B. Fiscal policy
C. Income policy
D. Price policy
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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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Which of the following statement is correct?
A. Every member country of the IMF automatically becomes the member of the World Bank
B. The World Bank has 45 founder members
C. India is not the founding member of the World Bank
D. IMF is the part of World Bank group
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Which of the following can not be included in methods of FDI?
A. Tax holidays
B. Investment financial subsidies
C. Horizontal FDI
D. None of the above
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The components of WTO are:
A. Ministerial Conference
B. Disputes Settlement Body
C. Director General
D. All of the above
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Which of the following is not a type of disequilibrium in the balance of payment?
A. Structural disequilibrium
B. Secular disequilibrium
C. Transactional disequilibrium
D. Cyclical disequilibrium
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The tariff which maximizes a country's economic welfare is called
A. Protective tariff
B. Discriminatory tariff
C. Non-discriminatory tariff
D. Optimum tariff
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The important responsibilities of a business to the customers are
(i) To ensure family welfare of the customers.
(ii) To understand customer needs and to take the necessary measures to satisfy these needs.
(iii) To ensure health condition of the customers.
(iv) To ensure that the product supplied has no adverse effect on the customer.
(v) To provide an opportunity for being heard and to redress genuine grievances.
A. (i), (ii), (iii), (iv) and (v)
B. (i), (ii), (iii) and (iv)
C. (ii), (iv) and (v)
D. (ii), (iii), (iv) and (v)
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Which of the following is the updated version of NAFTA that was signed in 1994?
A. Modified North America Free Trade Area
B. United States-Mexico-Canada Agreement
C. Trump Agreement
D. Sustainable North America Free Trade Area
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Which of the following is not the salient feature of the industrial policy developments since 1991?
A. The scope of the private sector has been enormously expanded
B. Public sector has been withdrawing partially or fully from several of the enterprises by divestment
C. The Indian industry is increasingly exposed to foreign competition
D. Monopoly or dominant position for the public sector in most of the industries and control of the commanding heights of the economy by the public sector
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Match the following.
List-I (Organisations of World Bank)
List-II (Features)
a. Board of Governors
1. Responsible for the conduct of the day to day business of the bank
b. Board of Executive Directors
2. It meets annually to cheak out the general policy of the bank
c. Advisory Council
3. It meet regularly once a month to carry on the routine working of the bank
d. President and other members of staff
4. It is appointed by the Board of Directors
A. a-4, b-3, c-2, d-1
B. a-2, b-3, c-4, d-1
C. a-3, b-1, c-4, d-2
D. a-2, b-1, c-4, d-3
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Theories of international trade can be broadly grouped into
A. classical theory
B. modern theory
C. Both A and B
D. Neither A nor B
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The following table shows cost per unit of production of two goods, wheat and cloth in 2 countries X and Y with no transportation cost and free trade
X (Rs.)
Y (Rs.)
Wheat
50
350
Cloth
100
500
Which one of the following will take place?
A. No trade will take place
B. X will export wheat and import cloth
C. X will export cloth and import wheat
D. There is no enough information to comment
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Which of the following statements is/are true in context of dumping?
A. Capital formulation
B. Globalization
C. Environmental protection
D. Unemployment reduction
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In circular flow of economy, consider the following statements.
A. Injections is any spending which is additional to the circular flow that increases the level of income. The examples are business expenditure, government expenditure and exports
B. Withdrawal is some income which is not passed on as an expenditure in the circular flow. It decreases the level of income in circular flow. The examples are savings, taxation and imports
C. For equilibrium in circular flow, planned injection should be equal to withdrawal
D. All of the above are true
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Business environment is more descriptive and . . . . . . . .
A. simple
B. large
C. complex
D. None of these
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