Globalisation

Q.

Write a brief note on International Bank for Reconstruction and Development (IBRD).

Q.

What is the full form of GATT

Q. What are the of Globalisation?

Q.

Write a brief note on International Monetary Fund (IMF). Also, state its objectives.

Q. The business practice of hiring a third-party to perform services which were previously done in-house is called .

1. call-centre services
2. customer care
3. outsourcing
4. on-the -job training

Q.

Which of the following are barriers to trade?

1. High price of crude oil

2. Import duties

3. Import quotas

4. Export subsidy

Q.

The business practice of hiring a third-party to perform services which were previously done in-house is called ___.

Q.

What does the term "Globalisation" imply?

1. Integration of cultures and identities of several countries

2. More competition in the global markets

3. Free movement of people

4. More mobility of goods and services

Q. Integration of an economy into the global markets and opening up to trade and investment is called .

1. world-unity
2. globalisation
3. protectionism
4. xenophilia

Q.

After the 1991 policy, limits on foreign equity holdings increased from 40% to ___ .

Q. Which one of the following is an example of a trading block (regional integration in trade)?

1. North American Free Trade Agreement
2. Madras Export Trade Processing Zone
3. Free Trade Zone at Kandla
4. Indo-American Chamber of Commerce

Q. Products like food grains, minerals, metals, timber, leather, hides and skins, wool, tea, jute, petroleum, milk, butter, etc. are tradable products of _________.

1. air
2. water
3. space
4. land

Q. After the 1991 policy, limits on foreign equity holdings increased from 40% to .

1. 42%
2. 45%
3. 51%
4. 60%

Q. What is the full form of DFEC?

1. Direct Foreign Exchange control
2. Duty Free Export Credit
3. Direct Free Export Control
4. Devaluated Foreign Exchange Control

Q.

Which of the following led to India being a good outsourcing centre?

1. Low Capital

2. Large Area

3. Cheap Labour

4. Better Transport

Q.

Why was import substitution given emphasis?

1. To modernise

2. To achieve self-reliance

3. To wage wars

4. To generate jobs

Q. The demand for export goods like tea, jute and cotton were .

1. elastic
2. inelastic
3. zero
4. unit-elastic

Q. After the reforms, FDI in the country has .

1. increased
2. ntot changed
3. decreased
4. become indeterminate

Q.

After the reforms, FDI in the country has:

1. Increased

2. Decreased

3. Remained unchanged

4. Indeterminate

Q.

How many countries signed the GATT when it was established?

1. 21

2. 23

3. 26

4. 30

Q.

Which of the following organisations does not facilitate the process of globalisation?

1. IMF

2. WTO

3. World Bank

4. Asian Bank

Q. Answer the following questions :

Explain the importance of concept of Elasticity of Demand for international trade.

Q.

Integration of an economy into the global markets and opening up to trade and investment is called ___

Q. In the pre-reforms period (i.e. before 1991), Export Subsidy Schemes were characterised by:

1. High transaction costs
2. Delays
3. Corruption
4. All of the above

Q.

How does flexible exchange rate system enhance efficiency in resourse allocation?

Q. The name of the common currency launched by members of the European Union is

1. Sterling
2. Dollar
3. Euro
4. Pound

Q. DFEC stands for with regards to foreign trade in India refers to _________.

1. Duty Free Exchange Credit
2. Direct Foreign Exchange Control
3. Duty Free Export Credit
4. Direct Finance Exchange Control

Q.

The reform of welcoming foreign investment falls under which of the following categories?

1. Liberalisation

2. Privatisation

3. Globalisation

4. None of the above

Q.

Expand WTO.

1. World Trade Organisation

2. World Tourism Organisation

3. World Transport Organisation

4. World Tariff Organisation

Q. Inflow of foreign exchange is recorded on the ________ side.

1. either (A) or (B)
2. neither (A) nor (B)
3. credit
4. debit