Trade Liberalisation

Q.

What Are the Components of Liberalisation?

Q. What are the main components of globalisation?

Q. Define economic reforms.

Q.

From the Foreign Exchange Regulation Act, we adopted the ___ Act.

Q. The Foreign Exchange Management Act (FEMA) was implemented in the year _______.

1. 1996
2. 1999
3. 1998
4. 1997

Q. The basic purpose of new economic policy is to encourage _______.

1. liberalization
2. privatization
3. all of the above
4. globalization

Q.

Expand FEMA. ___

Q. Which of the following were short-term measures in the NEP?

1. Both A and B
2. Stabilisation measures
3. Structural reform measures
4. None

Q.

Which of the following bodies was set up to oversee FDI?

1. FITC

2. FIPB

3. FAIB

4. FPIT

Q.

___ was set up to oversee matters of Foreign Direct Investment.

Q. Which of the following were long-term measures in the NEP?

1. Stabilisation measures
2. Structural reform measures
3. Both A and B
4. None

Q. What are the ways in which domestic industries be protected?

Q. Structural reform measures were intended to ______.

1. improve efficiency of the economy
2. remove rigidity in various segments of economy
3. increase international competitiveness
4. all of the above

Q.

The introduction of MRTP Act falls under which of the following categories?

1. Globalisation

2. None of the above

3. Liberalisation

4. Privatisation

Q.

Liberalisation entails:

1. Encouragement to public sector

2. Reduction in government control over the economy

3. Nationalisation

4. None of the above

Q.

Which of the following economic reforms were initiated by the government under liberalisation?

1. Industrial Reforms

2. Financial Sector Reforms

3. Tax Reforms

4. All of the above

Q.

In 1999, FEMA replaced a previous reform policy. Which one was it?

1. Foreign investment Management Act

2. Fixed Exchange Rate Act

3. Floating Exchange System

4. Foreign Exchange Regulation Act

Q.

With liberalisation reforms, the measure of trade protection is likely to show a/an ___ trend.

1. Increasing

2. Decreasing

3. Constant

4. Indeterminate

Q.

Which of the following are implied by the new trade policies?

1. Higher Tariffs

2. Freer imports

3. Greater "openness" of the economy

4. Import quotas and bans