true or false last 5 years ty bcom sem vi

Adam Smith gave the first classical theory of international trade.

• True

• False

Net barter terms of trade is also known as commodity terms of trade.

• True

• False

If the cost ratios are equal there will be gain to both the countries and there will be trade.

• True

• False

The cheap foreign labour argument is a legitimate argument against free trade because the cheap labour leads to low costs of production.

• True

• False

If a country increases its tariff then imports will be more expensive.

• True

• False

Nepal is a founder member of the European Union.

• True

• False

A surplus in the current account of BOP implies that the country is lending to foreigners more than foreigners lending to it.

• True

• False

Monetary and fiscal policies are used to correct BOP disequilibrium.

• True

• False

The IMF has been given the mandate to negotiate multilateral rules in services.

• True

• False

Majority of retail foreign exchange trading happens in forward market.

• True

• False