Consider the following statements in the context of Trade Related Investment Measures (TRIMs).
1. All restrictions on foreign capital companies are to be scrapped
2. No restriction will be imposed on any area of investment
3. Imports of raw material are to be allowed freely
4. Emport of part of the output will be mandatory
Which of the above statements are correct?
Which of the following pairs of GATT rounds and the associated years are correctly matched?
1. First Round ⇔ 1948
2. Kennedy Round ⇔ 1964-67
3. Tokyo Round ⇔ 1973-79
Select the correct answer:
Consider the following statements. Assertion (A): The 'Balance of Payments' presents a classified record of all receipts on account of goods exported, services rendered and capital received by 'residents' and payments made by them on account of goods imported and services received from capital transferred to 'non-residents' or 'foreigners'. Reason (R): The 'Balance of Payments' of a country is a systematic record of all economic transactions between the 'residents' of a country and the rest of the world.
Assertion (A): Amended Patent Act, in compliance with WTO, provides for grant of product patent as well as a process patent for a period of 20 years from the date of application. Reason (R): Under the Act, patent may be granted to an invention which means a new product or process involving an inventive step and capable of industrial application, a technical advance over existing knowledge.
Assertion (A): Operating style of the international business can be spread to the entire globe. Reason (R): The style is limited to the internal economy only.
The forces that lend momentum to the process of globalisation have been identified by Michael Porter include the following
1. Fluid global capital market
2. Technological restructuring
3. Decreasing religious command
4. Ethnic decontrol
5. New global competitors
6. End of the cold war in 1990s
Match List-I with List-II and select the correct answer:
List I
List II
a. Accommodating capital flow
1. Creation of international reserve assets by the IMF and their allocation among member countries in order to improve international liquidity
b. Autonomous capital flow
2. Estimate of foreign exchange flow on account of either variations in the collection of related figures or unrecorded illegal transactions of foreign exchange
c. SDR Allocation
3. Inflow of foreign exchange to meet the balance of payments deficit, normally from the IMF
d. Statistical discrepancy
4. Flow of loans/investments in normal course of business.
