End Test Now
Identify the INCORRECT statement about GATT.
India was among the 23 original signatories of GATT.
GATT too was constituted at the Bretton Woods conference along with the IMF and World Bank.
After GATT was set up in 1947, there was a series of negotiating rounds culminating in Uruguay round, finally signed at arrakesh.
None of the above.
What does TRIMS stand for?
Trade Related International Movements (both goods and services).
Trade in Resources, which are Internationally Mobilized.
Trade Related Investment Measures.
Trade Rising in International Markets.
Ministerial Conference (the apex decision making body) of WTO is held every two years. The last one at Cancun was …......... in line.
The following has NOT been a venue of WTO ministerial conference till now.
The classification of subsides in different boxes of amber, blue and green, at WTO is done in the area of
Which one of the following issues was NOT an impediment at Cancun?
The country’s first corporatised port is at
‘National treatment’ provisions under the WTO implies
treating one’s different trading partners equally.
equal treatment for foreign and domestic goods and services once the foreign goods have entered domestic market.
treating one’s trading partner preferentially than domestic traders.
giving special treatment to goods and services produced in domestic market.
Which is the world’s biggest exporting nation?
The last country to join WTO on October 13, 2004 is
The director General of WTO is
Which of the following Countries is not a member of WTO ?
A complaint in WTO is processed at
The GATT – Bretton woods standing committee
The trade policy review body
The dispute settlement body
The General Council
Iran, Iraq and North Korea (President Bush’s axis of evil),
are permanent WTO members.
have observer status in WTO.
have been imposed sanctions and boycotted by WTO.
have no formal association with WTO.
EPCG starts for
Excise protection of Capital goods
Export promotion of Capital goods
Earnings provided by Capital goods
Excelling in performance through capital goods
‘Cairns Group’ is a group of countries that accounts for more than 20% of global exports of
Jems and Jwellery
India’s major competitor in exporting tea worldwide is
Japan, Australia and China have imposed bans on fruits, like Mangoes and Grapes, from India on account of presence of fruit flies. This would come under
sanitary and phytosanitary measure
non trade barrier
The Apex body regulating foreign trade in India is
Director General Foreign Trade
Export Promotion Council, India
Ministry of Foreign Trade
The US corporation which acquired the basmati patent, was
Rice is life corp.
A specifically delineated duty free enclave, deemed to be a foreign territory, for the purposes of trade operations of duties and tariffs is known as SEZ. It stands for
Special Economic Zone
Special Export Zone
Specifically Export Zone
Specific Economic Zone
At present how many SEZ are functional in India?
At which of the following places the SEZ does NOT exist?
Which of the statements is NOT correct, in reference to the trends in Indian exports, over the past 10 years?
The share of manufactured goods in total exports has increased.
Exports in petroleum products have declined sharply.
India’s exports to Asia and Oceania, Africa, America and Latin American countries have seen an upward trend.
India’s exports to West Europe have plummeted.
A currency that has a continuing high level of demand, relative to supply, in the market of foreign exchange is often called as
India has a share of .67% of world exports, whereas China’s share is
In the centre state financial relations in India, Gadgil formula is used in
division of tax revenues.
formulating the policy for fresh borrowings.
writing off state’s indebt ness to the center.
allocating central plan assistance between states.
‘Non tariff’ barriers imply
regulations relating to environment, health and safety (EHS) to restrict international trade.
imposing high duties on imported goods.
applying physical barriers and check points to prevent inflow of foreign goods.
None of the above
The ‘Theory of Comparative Advantage’ in Economics is related to
WTO is often criticized for being anti democratic. But the fact most contrary to it, is that
dispute resolution is achieved at the WTO by consensus.
all views can be expressed at ‘People Forum’ just outside WTO, HQ in Geneva.
there are substantial elected officials at WTO.
every one, of the 148 members, has a veto over changing rules.
The vast expansion of international trade, in the second half of the 20th century, owed much to
a new method of shipping goods in containers.
the opening up of Brazil, South America’ largest market.
Change in the economic rationale of new economists, who encouraged international trade.
The tariff, imposed on imports to offset the impact of subsidy given by government in the country of origin of commodity, is known as
Anti dumping duty
Ad Valorem duty
The stocks of commodities held by the countries or international organizations to moderate the price fluctuations are called
Shock absorbing stocks
The difference in value over a period of time of a country’s imports and exports of merchandise is known as
Balance of Trade
Balance of Payment
Export import balance
‘Dollar drain’ implies
Sharp devaluation of dollar, thus value of dollar going down the drain.
a situation when country’s imports from USA exceed its export to USA, resulting in dollar reserves plummeting.
fake US dollars flooding financial markets.
Tarapore Committee is associated with
select markets and thrust products.
implementation of SEZs.
utilizing the burgeoning forex reserves.
capital account convertibility.
India’s forex reserve stood at …............... by the end of October 2004
USD 120 bn
USD 300 bn
USD 150 bn
USD 100 bn
Which of the following countries is NOT a member of the regional grouping ASEAN?
Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation (BIMSTEC) does NOT have following country as its member.
A small country that is economically dependent on a single export commodity and is typically governed by a dictator or armed forces is known as
Eggs in Single Basket Republic
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