| 1 |
Dumping refers to |
- A. Buying goods at low prices abroad and selling at higher prices locally
- B. Expensive goods selling for low prices
- C. Reducing tariffs
- D. Sale of goods abroad at low a price, below their cost and price in home market
|
| 2 |
Net exports equal |
- A. Exports x imports
- B. Exports + imports
- C. Exports - imports
- D. Exports of services only
|
| 3 |
What would encourage trade between two countries |
- A. Different tax system
- B. Frontier checks
- C. National currencies
- D. reduced tariffs
|
| 4 |
Term of trade of a country show |
- A. Ratio of goods exported and imported
- B. Ratio of import duties
- C. Ratio of prices of exports and imports
- D. A and C of above
|
| 5 |
Balance of payments of country inclueds |
- A. Balance of trade
- B. Capital receipts and payments
- C. Saving and investment account
- D. a and b above
|
| 6 |
Which of the following compares average price of exports to average price of imports? |
- A. Balance of payments
- B. Balance of trade
- C. Exchange rate
- D. Terms of trade
|
| 7 |
All are advantages of foreign trade EXCEPT |
- A. People get foreign exchange
- B. Nations compete
- C. Cheaper goods
- D. Optimum utilisation of country's resources
|
| 8 |
A tariff is |
- A. A restriction on the number of export firms
- B. Limit on the amount of imported goods
- C. Tax on imports
- D. B and C of above
|
| 9 |
Modern theory of international trade is based on the views of |
- A. Robbins and Ricardo
- B. Adam Smith and Marshall
- C. Heckcsher and Ohlin
- D. Saleem and Kareem
|
| 10 |
Exchange rate of currencies is determined by supply and demand in system of |
- A. Fixed exchange rate
- B. flexible
- C. constant
- D. govt. regulated
|
