30+ Balance of Payment and WTO MCQ’s | (Free Resource) Business Economics

Balance of Payment and WTO MCQ

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1. Unilateral transfers _________ .
a) are unrequited transfers
b) are one-way transfers
c) include gifts/remittances
d) all of the above

2. Unilateral flows in the balance of payment account refer to ________ .
a) capital flows
b) Gifts and Grants
c) visible goods flows
d) invisible flow of services

3. The full form of TRIMs is _______ .
a) Trade Related Investment Measures
b) trade related insurance measures
c) trade related investment methods

4. WTO was set up on _________ .
a) 1st January 1995
b) 1st June 1985
c) 31st July 1995
d) 1st January 2000

5. GATS stands for _______ .
a) General Agreement on Tariff and Services
b) General Agreement on Transport and Services
c) General Agreement on Trade in Services

6. Autonomous capital flows ______ other items in the balance of payments.
a) depend on
b) are related to
c) are independent of
d) have impact on

7. The current account in the balance of payments _________ .
a) includes merchandise trade and services
b) is a total of all the visible items of trade
c) includes borrowings
d) includes autonomous and accommodating flows

8. A deficit in India’s Balance of Trade in recent times is due to ________ .
a) rise in price of crude oil
b) increase in imports
c) reduction in exports
d) all of the above

9. Good performance on _________ has helped India to reduce its current a/c balance deficit in recent times.
a) invisible account
b) trade account
c) capital account

10. There is an increase in _________ on India’s capital a/c in recent times.
a) non-debt foreign investment flows
b) private transfers
c) private remittances
d) unilateral receipts

Answers: 1)all of the above 2)Gifts and Grants 3)Trade Related Investment Measures 4)1st January 1995 5)General Agreement on Trade in Services 6)are independent of 7)includes merchandise trade and services 8)Mixing quota 9)invisible account 10)non-debt foreign investment flows