10.

11

2 3 D 70457
The Production Possibility Frontier (PPF) in international trade equilibrium denotes :
(a) Demand side. (b) Consumption side.
(c) Supply side. (d) Trade side
According to Heckscher-Ohlin theory comparative cost advantage arises due to:
(a) Economies of large-scale production.
(b) । Relative abundance of various resources.
(c) Relative costs of labor.
(d) Research and development expenditures.
An import tariff in general :
(a) Reduces the export. (b) Reduces the import.
(c) Reduces the volume of trade. (6) 0) ೫೫6 (ಐ.
Ad valorem means :
(a) Fixed amounts of money per unit traded.
(b) A percentage of the price of the product.
(c) A percentage of the quantity of imports.
(d) All of the above.

Which round of international trade negotiations resulted in the creation of the World Trade
Organization ?

(a) Kennedy Round of 1964-1967.
(b) Tokyo Round of 1973-1979.
(c) Uruguay Round of 1986-1993.
(d) Doha Round of 2003-2007.
The currency of the European Monetary System is :
(a) Dollar. (b) Franc.
(€) Pound: (d) Euro.
All of the following are debit items in the balance of payments, except :
(a) Capital outflows. (b) Merchandise exports.
(c) Private gifts to foreigners. (d) Foreign aid granted to other nations.