Business Economics MCQs [set-10]

226. Restrictions on the use of foreign exchange by the Central bank are called _ .
A. exchange controls
B. Official transfers
C. Foreign exchange reserves
D. LAF
Answer: A

227. _ are duties levied on imports.

A. Tariffs
B. Deflation
C. Exchange control
o m
D. Qoutas . c
Answer: A
te
aof imports is
q M
228. Restrictions imposed on the quantity _.
A. Surplus
c
B. Quotas
C. Balance
M
D. Tariffs
Answer: B

229. Balance of payment always _ __.

A. Deficit
B. balances
C. Surplus
D. Equal
Answer: B

230. _ term long run disequilibrium as fundamental disequilibrium.

A. Tariff
B. IMF
C. trade
 D. WTO
Answer: B

231. WTO replaced _ in 1995.

A. GATT
B. WTO
C. UN
D. UNESCO
Answer: A

232. TRIPs deals with _ .

A. intellectual property rights
B. Foreign investment
C. Foreign aid
D. Agriculture
Answer: A

233. Protection is made available for _ years for patents.

A. 20
B. 30
C. 10
D. 40
Answer: A

234. The terms of _ is 50 years.

A. copyright
B. Services
C. patent
D. Trademarks
Answer: A

235. The current account of balance of payment does not include :

A. Balance of visible trade
B. Import of services
C. Unilateral services
D. Foreign investment
Answer: D

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236. Pick out the item which is not a part of unilateral transfers.
A. Gifts
B. Grants
C. Loan
D. Donation
Answer: C

237. Donations, grants, gifts and such other payments which do not have counter
obligations are known as :
A. Grants
B. Aid
C. Unilateral flows
D. Bilateral flow
Answer: C

238. If the deficits in a country’s BOP persists for a long time it is a case of :
A. Structural disequilibrium
B. Fundamental disequilibrium
C. Cyclical disequilibrium
D. temporary disequilibrium
Answer: B

239. Disequilibrium in the BOP caused by changes in the demand or supply

relations of exports or imports or both refer to :
A. Cyclical disequilibrium
B. Short Run disequilibrium
C. Structural disequilibrium
D. Fundamental disequilibrium
Answer: C

240. Which of the following is not a non monetary measure to correct the
disequilibrium in BOP ?
A. Tariff
B. Import quotas
C. Export promotion
D. Devaluation
Answer: D

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241. TRIMS include measures to :
A. Treat foreign investment on par with domestic income
B. Remove quantitative restrictions
C. Treat foreign investment on par with domestic investment
D. Remove qualitative retrictions
Answer: C

242. Pick out the one which is not true of GATS :

A. Services and service activities are covered under GATS
B. National treatment to members
C. No market access to service supplier’s
D. No discrimination between service suppliers
Answer: C

243. Pick out the feature which is not true of the Agreement on Agriculture.
A. Reduce domestic subsidies
B. reduce export subsidies
C. Increase tariffs
D. Increase trade in agricultural goods
Answer: C

244. In balance of payment account, all goods exported and imported are recorded
in _ .
A. Capital account
B. Merchandise account
C. Invisible account
D. Current account
Answer: C

245. Gifts and charities account are also known as :

A. Export
B. Unilateral transfer
C. Import
D. Long–term borrowing
Answer: B

246. In BOP, total receipts must be equal to total _.

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 A. payment
B. deficit
C. income
D. revenue
Answer: A

247. Reducing the value of domestic currency in term of foreign currency :

A. Deflation
B. Exchange control
C. Tariff
D. Devaluation
Answer: D

248. The current account in the balance of payments _.

A. is a total of all the visible items of trade
B. includes merchandise trade and services
C. always shows a surplus
D. includes autonomous and accommodating flows
Answer: B

249. Good performance on _ has helped India to improve its current account
balance in recent times.
A. trade account
B. invisible account
C. Capital account
D. reserves account
Answer: B

250. After covering deficits on current account, excess capital account receipts are
added to _.
A. IMF account
B. Official transfers
C. Foreign exchange reserves
D. Bank capital
Answer: C

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