Foreign Trade Policy — Part 2 MCQs with Explanations

10 years is the correct answer to “The areement on Textiles and Clothing sets out a framework for gradually and systematically achieving this goal over a . . . . . . . . year transitional period.”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

a-2, b-1, c-4, d-3 is the correct answer to “Match the following. List-I (Concepts) List-II (Meaning) a. Globalisation 1. It conforms to the principle of double entry book keeping b. Balance of Payment 2. Intergration with the world economy c. Merchandise 3. It occurs on account of business cycles d. Cyclical Disequilibrium 4. It includes sale and purchase of goods to from foreign countries”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

Both A and B is the correct answer to “The Government of India helps the exporters in selecting the product and the market under”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

a-2, b-1, c-4, d-3 is the correct answer to “Match the following. List-I List-II a. Porter 1. Factor endowment b. Hecksher-Ohlin 2. Diamond c. Ricardo 3. Absolute advantage d. Adam Smith 4. Comparative advantage”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

a-1, b-4, c-2, d-3 is the correct answer to “Match the following. List-I List-II a. MIGA 1. Offers political risk insurance (guarantees) covering all areas of the world for ventures in a wide range of sectors of the economy in developing member countries b. IBRD 2. A global financial institution that provides the poorest countries in the world c. IDA 3. Development institution focused solely on developing nations private sector d. IFC 4. Single largest provider of loans to the countries”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

European EconomicCommunity (EEC) is the correct answer to “Treaties of Rome (1957) was responsible for creation of which one of the following”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

All of the above is the correct answer to “An Indian exporter is required to fulfil which of the following requirements in order to register himself as an exporter? 1. Opening bank account with current account with a commercial bank under RBI. 2. Registrations with GST and other tax authorities. 3. Obtaining Importer-Exporter Codenumber (lEC), it is a unique 10 digit code i.e. issued by DGFT, Ministry of Commerce. 4. Obtaining Permanent Account Number.”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

All of the above is the correct answer to “Which of the following statements are true with regard to brownfield investment”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

a-1, b-2, c-3 is the correct answer to “Match the following with regard to bill of entry. List-I List-II a. White bill 1. Goods imported for have consumption b. Green bill 2. Exo-bonds goods c. Yellow bill 3. Into-bonds goods”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

Mercantilism theory is the correct answer to “. . . . . . . . favoured merchant class.”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

It deals with transferring expertise especially on how to conduct business is the correct answer to “Which of the following statement is true for franchising”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

1, 2, 3, 4, 5, 6, 7, 8, 9 is the correct answer to “Arrange the following in correct sequence of post shipment procedure in exportation process. 1. C and F agent submits the documents to the exporter. 2. Exporter intimates the importer about the shipment of goods. 3. Submission and negotiation of documents with bank. 4. Bank negotiates these documents to the importer's bank in the manner as specified in the letter of credit. 5. Documents are attested with the bill of exchange 6. The exporter gets immediate payment from his bank after signing letter of indemnity. 7. Importer receives the documentary bill of exchange, he releases the payment. 8. After receiving proceeds the exporter intimates the RBI by recording the facts on duplicate copy of GR. 9. The exporter receives subsidies and concessions if he is eligible.”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

a globally integrated company is the correct answer to “A global company is sometimes called”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

Specific commitments set out in the AoA were implemented over a six year period beginning in 2005 which was supposed to be 10 years for developing countries is the correct answer to “Which of the following statement is not correct with regard to AoA”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

(R) is true, but (A) is false is the correct answer to “Assertion (A) The laws regarding patents and trademark are ineffective in many countries. Reason (R) There are cases when a government does not abide by the rulings of the International Court of Justice.”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

It comprises of Zero Duty EPCG and Concessional 5% Duty EPCG is the correct answer to “Which of the following is not correct about EPCG scheme”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

a-1, b-2, c-3, d-4 is the correct answer to “Match the following. List-I List-II a. Importing 1. Modes of international business b. Marketing 2. Functions of international business c. Sales expansion 3. Objectives of international business d. Economic forces 4. External influence”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

a-3, b-4, c-2, d-1 is the correct answer to “Match the following. List-I List-II a. Adam Smith 1. Availability b. David Ricordo 2. Endowment c. Ohlin 3. Absolute advantage d. I. B. Kravis 4. Comparative advantage”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

All of the above is the correct answer to “According to RBI, which of the following are characteristic of FDI”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

David Ricardo is the correct answer to “The comparative cost theory of international trade was developed by”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

international experience is the correct answer to “One of the following is not a main external factor affecting the choice for market entry mode”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

ADS is the correct answer to “The Indian Government has adopted internationally acknowledged standard for documentation known as”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

David Ricardo is the correct answer to “The trade theory of comparative advantage was developed by”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

None of the above is the correct answer to “Which of the following is not a method make FDI in India”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

Exchange Rate Management body is the correct answer to “Which of the following body is not related to the WTO”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

The dumped imports which is causing damage to the domestic industry in the importing country is the correct answer to “Anti dumping duty is levied on which one of the following”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

164 is the correct answer to “Currently, how many members are in the WTO”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

4, 5, 6 is the correct answer to “Which of the following items are included in Prohibited list? 1. Seeds 2. Plants and animals 3. Communication jamming equipment's 4. Animal rennet 5. Oils or tallow of any animal 6. Wild animals and their products such as ivory Select the correct answer”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

All of the above is the correct answer to “Which of the following depict benefits of FDI to home country”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

All of the above is the correct answer to “Which of the following statements are true with regard to EXIM policy of India”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

Both (A) and (R) are correct and (R) is the right explanation of (A) is the correct answer to “Assertion (A) The integration of domestic economy through the twin channels of trade and capital flows has accelerated in the past two decades which in turn led the Indian economy growing from Rs. 32 trillion in 2004 to about Rs. 153 trillion by 2016. Reason (R) The Government of India is keen to grown exports and provide more jobs for the young, talented, well-educated and even semi-skilled and unskilled workforce in India.”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

Both I and II is the correct answer to “Which of the following statements are correct? Statement I The registration for geographical indication of goods is done for a period of 10 years which can be renewed for an infinite period of time. Statement II The patents, as per Indian Patent Act are registered for 20 years. Statement III The maximum term of registration of copyright is 50 years in India.”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

Uruguay Round of 1986 - 1993 is the correct answer to “Which round of international trade negotiations resulted in the creation of the World Trade Organisation”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

ownership, location and internalisation is the correct answer to “According to Eclectic theory of Foreign Direct Investment (FDI), the motivation behind FDI is/are”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

a-2, b-1, c-4, d-3 is the correct answer to “Match the following. List-I List-II a. Patent 1. Literary, dramatic, musical work b. Copyright 2. Medicines and food inventions c. GIC 3. Visual symbol which can be in the form of a word, device d. Trademark 4. Names or places used to identify the origin and quality of product”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

colbertism is the correct answer to “Mercantilism was known as . . . . . . . . in France.”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

mercantilism is the correct answer to “Physiocrates were opposed to . . . . . . . .”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

4 is the correct answer to “How many attributes does Porter's Diamond consist of”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

Product life cycle theory is the correct answer to “. . . . . . . . states that, lack of resources often helps countries to become competitive.”. This question is standard in competitive examination syllabi for Foreign Trade Policy.

current account and capital account is the correct answer to “The balance of payments account is conventionally divided into”. This question is standard in competitive examination syllabi for Foreign Trade Policy.