| 21. | What is the exchange of goods between two countries called? |
A. Trade balance | |
B. Bilateral trade | |
C. Trade volume | |
D. Multilateral trade |
| 22. | Which of the following is the correct expansion of TRIMs? |
A. Trade Related Industrial Measures | |
B. Trade Related Invovation Measured | |
C. Trade Related Information Measures | |
D. Trade Related Investment Measures |
| 23. | The term ‘Balance of Payment’ is used in the context of which of the following? |
A. Annual sales of a factory | |
B. From tax collection | |
C. Import-export | |
D. None of the above |
| 24. | By whom is the operation of the TRIPS (Parties Related to Trade in Intellectual Property Rights) agreement? |
A. UNACTAD | |
B. ONE | |
C. WTO | |
D. IBRD |
| 25. | Payment of foreign trade is related to – |
A. By virtue of import | |
B. Export quality | |
C. Foreign trade multiplier | |
D. From balance of payments |
| 26. | The basic basis of international trade is – |
A. Both absolute advantage and comparative advantage | |
B. Absolute profit only | |
C. Relative advantage only | |
D. Exchange rate |
| 27. | Who is the main watchdog of international trade? |
A. I.M.F. | |
B. I.B.R.D. | |
C. W.T.O. | |
D. I.F.C |
| 28. | What is meant by free trade? |
A. Imports are reduced | |
B. There is no restriction on import and export | |
C. No duty on import and export | |
D. Imported goods are tax free |
| 29. | Super 301? |
A. It is the brand name of a supercomputer developed by India. | |
B. Newly developed variety of rice is | |
C. Section of US trade law that gives them the power to impose higher customs duties on their imports | |
D. This is the name of the new drug discovered to combat AIDS. |
| 30. | Dunkel Draft was |
A. linked to the Uruguay Round Agreement | |
B. Related to economic sanctions on countries with nuclear power | |
C. Related to safeguarding the buildings of world cultural heritage | |
D. Related to stopping the drug trade |