International Economics 2023 - 2024

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 factor

• immobility variables

• none of these

Government policy about exports and imports is called

• commercial policy

• fiscal policy

• monetary policy

• fiscal policy

WTO stands for

• World Tariff Organisation

• World Tax Organisation

• World Trade Organisation

• World Trademark Organisation

_______ is the precursor of WTO

• NAFTA

• GATT

• SAARC

• EC

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

• 151

• 164

• 104

• 139

WTO has observed governments

• 25

• 11

• 32

• 09

WTO was formed to overcome in ineffectiveness of ______ to promote

• IMF

• GATT

• NAFTA

• IBRS