Advanced micro economics

Trade between two countries can be useful if cost ratios of goods are:

• Undetermined

• Decreasing

• Equal

• Different

International trade and domestic trade differ because of:

• Different government policies

• Immobility of factors

• Trade restrictions

• None of the above

Govt. policy about exports and imports is called:

• Commercial Policy.

• Fiscal policy

• Monetary policy

• Finance policy

WTO stands for______

• World Tariff Organization

• World Tax Organization

• World Trade Organization

• IWorld Trademark Organization

_____is the precursor of WTO.

• NAFTA

• GATT

• SAARC

• EU

World Trade Organisation came into force on _______

• 27th July 2007

• 1st January 1995

• 15th September 1993

• 1st January 1947

_______countries were members of WTO as on 1st January 1995.

• 151.

• 164

• 104

• 139

The WTO has ________ members.

• 104

• 151

• 164

• 139

WTO has _______ observer governments.

• 25

• 11

• 32

• 09

WTO was formed to overcome the ineffectiveness of _____ to promote world trade.

• IMF

• GATT

• NAFTA

• IBRD