IDBI-TFF-LU1-Introduction to TF

International trade contributes to..............

• inflation

• trade barrier

• Economy

Trade between two or more than two countries is termed as...........

• domestic trade

• International trade

• external trade

The relative strength and elasticity of demand of the two trading

countries for each other’s product in terms Of their own products is known

as............

• Reciprocal demand

• Comparative advantage

• Cost advantage

Domestic trade and international trade differ because of............

• Trade restrictions

• Immobility of factors

• Differ government policies

Which among the following made several rounds of bargaining

through which tariff have been reduced...............

• IBRD

• IMF

• GATT

The situation in which imported goods are more than exported goods?

• Trade deficit

• Trade barriers

• Trade surplus

The trade that happens between countries can indeed be useful if the

price ratios of products are............

• Decreasing

• Different

• Undetermined

The process of selling of the products at a price less than on going

price in the market is known as...........

• dumping

• quota

• tariff

Government policies about export and import is called........

• Fiscal policy

• commercial policy

• Monetary policy

Country A had made total exports of USD 10 Billion and imports of USD 8 billion. Then the country is said to have................. on trade

• surplus

• deficit

• Neutral