WorksheetsIDBI-TFF-LU1-Introduction to TF
Total questions: 15
Worksheet time: 6mins
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
International trade is based on the idea that...........
Import should exceed export
Resources are less mobile internationally than are good
Export should exceed import
International trade forces domestic firms to become more competitive
in terms of........
product quality should not be improved
Introduction of new product
keep the price constant without changing
According to comparative advantage theory international trade will not
take place if............
One country is inefficient in production of both goods
One country is efficient in production of both goods
Opportunity cost of two products are same in both countries
A deficit in Balance of payment can be corrected by.....
An increase in interest rate
decrease in interest rate
discouraging capital inflows
Balance of Payment records are maintained by...............
MOF
RBI
GOI
