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February 1, 2017

GS Test-8-Indian Economy-India’s Foreign Trade

Welcome to your Indian Economy Daily Test-8-India’s Foreign Trade



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1) Which one of the following international organisations offers political risk insurance guarantees to help investors to protect foreign direct investments made in developing countries against political risk?
2) Consider the following statements
1.Countervailing duties are trade import duties imposed under the United Nations Organisation.
2.Countervailing duties are imposed under World Tcade Organisation (WTO) Rules to neutralise the negative effects
of subsidies.
Which of the statements given above is/are correct?
3) Consider the following statements
1.World Trade Organisation (WTO) is an organisation that intends to supervise and liberalise international trade.
2.World Trade Organisation (WTO) is come to exist on 1st January, 1995.
Which of the statements given above is/are correct?
4) How is the United Nation Monetary and Financial Conference where in the agreements were signed to set up IBRD, GATT and IMF, commonly known?
5) Which one of the following areas is the main aim of ASIDE scheme started by Indian Government?
6) IMF was established to meet which of the following objectives?
1.Promoting international monetary co-operation.
2.Expanding international trade.
3.Lessening the disequilibrium in balance of trade.
4.Avoiding competitive exchange depreciations.
Which of the statements given above is/are correct?
7) India is not a member of which of the following?
8) Regarding the International Monetary Fund (IMF), which one of the following statements is correct?
9) Which one of the following factors forms the invisible account of the Balance of Payment of a country?
10) Which among the following statements is/are true with regards to WTO membership?
1.AII WTO members automatically receive the ‘most favourable nation’ status.
2.Over75% of WTO members are from developing countries, and the membership allows them access to develop markets at
lower tariff.
Which of the statements given above is/are correct?
11) In which year was World Bank formed?
12) Which one of the following groups of items is included in India’s foreign-exchange reserves?
13) The earlier name of WTO was
14) Which of the following International Organisation is India a member?
1.Indian Ocean Rim Association for Regional Cooperation.
2.Organisation for Economic Cooperation and Development.
Which of the statements given above is/are correct?
15) Which one of the following organisations is related with NAMA?
16) Consider the following organisations
1.International Bank for Reconstruction and Development (IBRD)
2.International Finance Corporation (IFC)
3.International Fund for Agricultural Development (IFAD)
4.International Monetary Fund (IMF)
Which of these are agencies of United Nations?
17) The term ‘Paper Gold’ means
18) Which one of the following administers the International Development Association?
19) Voting rights in the IMF are distributed on the basis of
20) The capital of IMF is made up by contribution of the
21) In terms of economy, the visit by foreign nations to witness the XIX Common Wealth Games in India amounted to
22) Which of the following is not a member of Organisation of the Petroleum Exporting Countries (OPEC)?
23) The Balance of Payments (BoP) of a country is a systematic record of
24) In the context of the bilateral trade negotiation between India and European Union, what is the difference between European Commission and European Council? [IAS (Pre) 2010]
1.European Commission represents the EU in the trade negotiation whereas European Council participates in the legislation of matters pertaining to economic policies
of the EU.
2.European Commission comprises the Head of States Government of member countries whereas the European Council comprises the persons nominated by the European
Which of the statements given above is/are correct?
25) Who among the following served as the Chief Economist of the International Monetary Fund?
26) Consider the following statements about the India’s Look East Policy
1.It was articulated during the reign of HD Deve Gowda as India’s Prime Minister.
2.It is directed towards South Asian Region.
3.It is about controlling terrorism.
4.It seeks to develop a bond among various countries on the basis of economic cooperation.
Which of the statements given above are correct?
27) The headquarters of IMF and World Bank are located at
28) Consider the following statements
1.BIMSTEC (Bay of Bengal Initiative for Multi- Sectoral Technical and Economical Cooperation) is visualized as a bridging link between ASEAN and SAARC.
2.It was formerly know as the Bangkok Agreement.
which of the statements given above is/are correct?
29) Which of the following countries is not a member of ASEAN?
30) The IMF and World Bank were conceived as institution to

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