Which of the following is not a mode of payment in exports?
A. Current Account
B. Payment in Advcance
C. Open Account
D. Letter of Credit
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Which of the following are the benefits to the country receiving FDI?
A. Capital inflow
B. Resource transfer effect
C. Inflow of technology and managerial skills
D. All of the above
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The basic objective of Export Promotion Councilis to promote and develop the exports of the
A. particular products of country
B. only attractive projects of the country
C. only services industry products of the country
D. overall exports of the country
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The quota that restricted trade in textiles was known as
A. GATS
B. TRIMS
C. MFA
D. TRIPS
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A single common initial application called 'Aayaat Niryaat Form' was developed by
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Which of the following are called Bretton Woods Twins?
A. IMF and International Bank for Reconstruction and Development (IBRD)
B. IMF and World Trade Organisation
C. IBRD and World Trade Organisation
D. None of the above
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Which of the following conditions lead to non-issue of trademark in India?
A. The trademark does not have any distinctive character or there is difficulty in distinguishing between the goods and services
B. Is of such a nature that it can mislead or deceive the public or give rise to confusion
C. Comprises of scandalous matter if any matter that hurt the religious feelings
D. All of the above
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Match the following.
List-I
List-II
a. Duty Drawback Scheme
1. The exporter can claim any custom duty paid by him on the import of consumables, are material and central excise duty paid
b. DFIA
2. It allows duty free import of energy sources, catalysts, oil, inputs etc that are required to produce goods for export
c. MAI
3. The focus is placed on a product and efforts are made to evolve a specific market for particular goods
d. ASIDE
4. This is formed to motivate the State Governments to promote exports of their respective states
A. a-2, b-1, c-4, d-3
B. a-4, b-3, c-2, d-1
C. a-1, b-2, c-3, d-4
D. a-1, b-4, c-2, d-3
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Which of the following statement is not correct regarding the membership of the IMF?
A. Currently its membership is 189
B. All member countries of IMF are sovereign states
C. All member countries of the IMF are sovereign states
D. Nauru is the latest member of the IMF
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Which of the following is/are example(s) of tariff barriers?
A. Ad valorem
B. Specific tariff
C. Voluntary Export Restraint (VERs)
D. All of the above
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The institutional framework developed in 1947 to promote trade liberalisation is known as
A. the WTO
B. the GATT
C. the IMF
D. the World Bank
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Firm that operates internationally is able to
A. earn a greater return from their skills and core competencies
B. realise location economies where they can be performed most efficiently
C. realise greater experience curve economies, which reduces the cost of production
D. all of the above
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The forum which reviews the trade policies of all WTO member countries is which one of the following?
A. DSB
B. TPRB
C. TRIPS
D. General Council
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In dispute resolution mechanism of the WTO regime, the collapse of the Doha Round talks at Cancun in September 2003 has been attributed to which one of the following?
A. Subsidies in agriculture and agricultural domestic support policies of developed nations
B. Measures on protecting intellectual property rights of innovators
C. Agreement on Textiles and Clothing (ATC) under Multi Fibre Arrangement (MFA)
D. Trade in the shape of individuals travelling to foreign countries to supply services
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Does the WTO apply its frame work in exactly the same fashion throughout the world?
A. Yes, the WTO applies its framework in exactly the same way throughout the world
B. Yes, the WTO applies its framework in exactly the same way around the world, unless it deals with trade blocks
C. No, the WTO makes allowance for regional variation
D. No, the WTO makes allowance for variation in the case of economically stronger countries
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The following statements relate to transnationally. Choose the correct answer.
Statement I Import of techniques and machinery is a mode of technology transfer.
Statement II Technology transferred through government for common welfare is considered as free market transfer and is not subject to patent laws.
A. Statement I is correct, but Statement II is incorrect
B. Statement II is correct, but Statement I is incorrect
C. Both statements are correct
D. Both statements are incorrect
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The home country government can confiscate the revenue effect of an import quota if
A. quota licenses are given to foreign exporting companies
B. quota licenses are auctioned to the highest bidding importing company
C. quota licenses are given to domestic consumers of the good
D. both A and C
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Globalisation is a term used to describe the process of removal of restrictions on which of the following?
A. Foreign trade
B. Investment
C. Both A and B
D. None of these
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Which trade group, among the following holds 'Tamil' as one of its official language?
A. ASEAN
B. SAARC
C. BRICS
D. MINT
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Which of the following statements represent the objectives of AoA?
A. To endorse the rural economies of the member countries but not with the help of policies that distorts trade
B. To promote a process of reforms in the trade of agricultural products. The countries were required to reduce the agricultural support i.e. agricultural subsidies to their domestic farmers
C. To create an honest, fully transparent and market oriented agricultural trade system
D. All of the above
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