| 41. | 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 |
| 42. | 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 |
| 43. | 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 |
| 44. | 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. |
| 45. | 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 |
| 46. | What is Break Even Point? |
A. The situation when the farm is taking advantage | |
B. A situation where the firm is making losses | |
C. Situation when the firm is making neither profit nor loss | |
D. It has nothing to do with profit or loss |
| 47. | Export duty units are firms that are expected to – |
A. Operates only in Export Processing Zones | |
B. Will substitute imports | |
C. Complies with ISO – 9000 | |
D. Exports a major part of the production |
| 48. | ECGC is related to- |
A. Export promotion | |
B. Export finance and insurance | |
C. With certification of export quality | |
D. From the publication of export figures |
| 49. | The purpose of establishing a trade point is – |
A. Import-export exchange country | |
B. Import-export related information exchange country | |
C. Exchange center for foreign banking business | |
D. Customs collection center |
| 50. | With which of the following is the trade aspect TRIPS related to intellectual property rights and the trade related investment measure TRIMS related? |
A. Preston offer | |
B. Dunkel proposal | |
C. Chelliah Committee | |
D. None of these |