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This set of Business Economics Multiple Choice Questions & Answers (MCQs) focuses on Business Economics Set 10
Q1 | Restrictions on the use of foreign exchange by the Central bank are called _ .
- exchange controls
- Official transfers
- Foreign exchange reserves
- LAF
Q2 | _ are duties levied on imports.
- Tariffs
- Deflation
- Exchange control
- Qoutas
Q3 | Restrictions imposed on the quantity of imports is _ .
- Surplus
- Quotas
- Balance
- Tariffs
Q4 | Balance of payment always _ __.
- Deficit
- balances
- Surplus
- Equal
Q5 | _ term long run disequilibrium as fundamental disequilibrium.
- Tariff
- IMF
- trade
- WTO
Q6 | WTO replaced _ in 1995.
- GATT
- WTO
- UN
- UNESCO
Q7 | TRIPs deals with _ .
- intellectual property rights
- Foreign investment
- Foreign aid
- Agriculture
Q8 | Protection is made available for _ years for patents.
- 20
- 30
- 10
- 40
Q9 | The terms of _ is 50 years.
- copyright
- Services
- patent
- Trademarks
Q10 | The current account of balance of payment does not include :
- Balance of visible trade
- Import of services
- Unilateral services
- Foreign investment
Q11 | Pick out the item which is not a part of unilateral transfers.
- Gifts
- Grants
- Loan
- Donation
Q12 | Donations, grants, gifts and such other payments which do not have counter obligations are known as :
- Grants
- Aid
- Unilateral flows
- Bilateral flow
Q13 | If the deficits in a country’s BOP persists for a long time it is a case of :
- Structural disequilibrium
- Fundamental disequilibrium
- Cyclical disequilibrium
- temporary disequilibrium
Q14 | Disequilibrium in the BOP caused by changes in the demand or supply relations of exports or imports or both refer to :
- Cyclical disequilibrium
- Short Run disequilibrium
- Structural disequilibrium
- Fundamental disequilibrium
Q15 | Which of the following is not a non monetary measure to correct the disequilibrium in BOP ?
- Tariff
- Import quotas
- Export promotion
- Devaluation
Q16 | TRIMS include measures to :
- Treat foreign investment on par with domestic income
- Remove quantitative restrictions
- Treat foreign investment on par with domestic investment
- Remove qualitative retrictions
Q17 | Pick out the one which is not true of GATS :
- Services and service activities are covered under GATS
- National treatment to members
- No market access to service supplier’s
- No discrimination between service suppliers
Q18 | Pick out the feature which is not true of the Agreement on Agriculture.
- Reduce domestic subsidies
- reduce export subsidies
- Increase tariffs
- Increase trade in agricultural goods
Q19 | In balance of payment account, all goods exported and imported are recorded in _ .
- Capital account
- Merchandise account
- Invisible account
- Current account
Q20 | Gifts and charities account are also known as :
- Export
- Unilateral transfer
- Import
- Long–term borrowing
Q21 | In BOP, total receipts must be equal to total _ .
- payment
- deficit
- income
- revenue
Q22 | Reducing the value of domestic currency in term of foreign currency :
- Deflation
- Exchange control
- Tariff
- Devaluation
Q23 | The current account in the balance of payments _ .
- is a total of all the visible items of trade
- includes merchandise trade and services
- always shows a surplus
- includes autonomous and accommodating flows
Q24 | Good performance on _ has helped India to improve its current account balance in recent times.
- trade account
- invisible account
- Capital account
- reserves account
Q25 | After covering deficits on current account, excess capital account receipts are added to _.
- IMF account
- Official transfers
- Foreign exchange reserves
- Bank capital