Various bodies in the organisational structure of WTO are given below. On the basis of decision-making authority, arrange them from top to bottom.
A. 2, 1, 4, 3
B. 1, 2, 3, 4
C. 1, 2, 4, 3
D. 4, 1, 2, 3
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When one country providesmost favoured nation status (normal trade relations) for another, it agrees to
A. charge that nation's products a lower tariff than any other nations
B. charge that nation's products a tariff rate no higher than that on any other nation
C. charge that nations products a higher tariff than any other nation's
D. exports to that nation any products that it wants to purchase
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India is a member of which of the following organisations?
A. 1, 3, 4
B. 1, 3, 4, 5
C. 1, 2, 3, 4
D. All of the above
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Which of the following is not a subsidiary body of general council of WTO?
A. Council for trade in goods
B. Council for trade related aspects of intellectual property rights
C. Council for trade in services
D. Council for settlement of disputes
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Which of the following is not types of disequilibrium in the balance of payment?
A. Structural disequilibrium
B. Secular disequilibrium
C. Transactional disequilibrium
D. Cyclical disequilibrium
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From the following statements relating to WTO agreements, choose the statements that are correct.Statement I Diversity in technical regulations and industrial standards among countries leads to the introduction of Technical Barriers to Trade (TBT) Agreements.Statement II The aim of WTO agreements on customs valuation is to ensure a fair, uniform and neutral system for the valuation of goods for customs purposes.Statement III The agreement on Trade Related Investment Measures (TRIMs) applies only to measures that affect trade in goods.
A. Statements I and II are correct
B. Statement I is correct
C. Statements II and III are correct
D. All the statements are correct
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Which of the following statements is fare incorrect?
A. Entrepot trade means sale of goodsto a foreign country
B. Import trade means sale of goods to a foreign country
C. Both A and B
D. None of the above
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Difference between the time of introduction of the product in one country and the time, when the producers in other country start producing it
A. Imitation gap
B. Demand gap
C. Both A and B
D. Neither A nor B
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Which of the following statement is incorrect?
A. In the balance of payment, indemnities paid by foreigners is unrequited receipts
B. In the balance of payment, gifts from foreigners is/are capital inflow
C. Both A and B
D. None of the above
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Member countries of NAFTA are
A. Brazil, USA and Canada
B. Canada, USA and Mexico
C. USA, Argentina and Canada
D. Panama, USA and Canada
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Arrange the following in correct sequence of import procedure.
A. 1, 2, 4, 3, 5, 6
B. 1, 2, 3, 4, 5, 6
C. 1, 3, 2, 4, 5, 6
D. 1, 4, 2, 3, 5, 6
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When foreign companies undertake activities that are not similar but related to the key activities performed by the home country company, it is termed as
A. vertical FDI
B. horizontal FDI
C. conglomerate FDI
D. None of the above
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Which of the following are covered under TRlPS agreement?
A. patents, designs, trademarks, copyrights
B. Geographical Appellations of Origin
C. Trade Secrets and Layout of Integrated Chips
D. All of the above
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Regional trading block agreement among USA, Canada and Mexicois formed and named by which one of the following?
A. North American Free Trade Region
B. North American Free Trade Agreement
C. North and Central American Free Trade Agreement
D. North American Free and Tariff Trade Agreement
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Which of the follwing statements are correct with respect to exporting?
A. Large scale operations
B. Integration of economies
C. Dominated by MNCs and developed nations
D. All of the above
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Which of the following are the principles of WTO?
A. MFN
B. National Treatment
C. Free Trade
D. All of the above
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An attribute that doesn't contribute to Porters Diamond model is
A. government
B. organised trade union
C. factor conditions
D. demand conditions
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A widely used indicator to differentiate developed countries from developing countries is
A. international trade per capita
B. real income per capita
C. unemployment per capita
D. calories per capita
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Which of the following are major objectives that engage companies in international business?
A. To expand sales
B. To acquire resources
C. To diversify sources ofsales and supplies
D. All of the above
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With regard to the WTO, subsidies are covered in two separate international economic law agreements. Which are they?
A. The GATI and the Agreement on Subsidies and Countervailing Measures
B. The Reform Treaty and the Treaty of Rome
C. The North American Free Trade Agreement and the Organisation ofAmerican States Charter
D. The International Monetary Fund's Articles of Agreement and the European Central Bank's Statute
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