41-Which among below is NOT a correct statement?
a.
Bretton Woods conference gave
birth to two international organizations-
b.
Theory of Absolute Advantage
in international trade is given by Adam Smith’
c.
Pure and perfect competition
is the same market structures.
d.
Mint par theory of exchange
rate determination is applicable in countries under gold standard.
(Ans: c)
42-Terms of trade that relate to the Real Ratio of
international exchange between commodities is called:
a.
Real cost terms of trade
b.
Commodity terms of trade
c.
Income terms of trade
d.
Utility terms of trade
(Ans: c)
43-Who among the following enunciated the concept
of single factoral terms of trade?
a.
Jacob Viner
b.
G.S.Donens
c.
Taussig
d.
J.S.Mill
(Ans: a)
44-‘Infant industry argument’ in international trade is given in
support of:
a.
Granting Protection
b.
Free trade
c.
Encouragement to export
oriented small and tiny industries
d.
None of the above
(Ans: a)
45-Which of the following is also known as
International Bank for Reconstruction and Development?
a.
Asian Development Bank
b.
World Bank
c.
Reserve Bank of India
d.
International Monetary Fund
(Ans: b)
46-Which among the following is not a function of
International Monetary Fund?
a.
It serves a medium term and
long term credit institution’
b.
It provides a mechanism for
improving short term balance of payments position’
c.
It provides machinery for
international consultations’
d.
It provides reservoir of the
currencies of the member countries and enables members to borrow one another’s
currency’
(Ans: a)
47-The new world Trade organization (WTO), which
replaced the GATT came into effect from____
a.
1ST January
1991
b.
1st January
1995
c.
1st April 1994
d.
1st May 1995
(Ans: b)
48-A change in fiscal policy affects the balance of
payments through:
a.
The current account only
b.
The capital account only
c.
Both, the current account and
capital account
d.
Neither current account nor
capital account
(Ans: c)
49-Fiscal Policy means:
a.
Policy relating to money and
banking in a country
b.
Policy relating to non-banking
financial institutions
c.
Policy relating to government
spending’ taxation and borrowing
d.
Policy relating to financial
matters of international trade
(Ans: c)
50-Which one of the following is NOT the objective
of fiscal policy of government of India?
a.
Full employment
b.
Price stability
c.
Regulation of inter-state
trade
d.
Economic growth
(Ans: c)
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