CBSE Questions for Class 12 Commerce Economics Liberalization,Privatisation And Globalisation: An Appraisal Quiz 4 - MCQExams.com

Where is the Headquarters of WTO located?
  • Rome
  • Geneva
  • Washington
  • New York
Critical minimum effort theory is given by
  • Leibenstin
  • Rosenstein Rodan
  • Arther Lewis
  • Marx
European Union decided to enforce European Stability Mechanism (ESM). ESM is a system to achieve / safeguard-
  • financial stability
  • political stability
  • free access to oil reserves in UAE and Kuwait
  • interests of all the members in case of attack by Iran or any other country
POSCO, the steel company is associated with the country?
  • South Korea
  • Japan
  • France
  • Germany
Green Box subsidies under WTO are allowed because they are considered to be
  • Minimally trade distorting.
  • Higher among developed and relatively lower for developing countries.
  • They are confined to agriculture sector.
  • They are related to GATS provision.
Which country became a member of European Union on 1 st July 2013?
  • Bulgaria
  • Romania
  • Croatia
  • Serbia
Consider the following statements relating to the World Trade Organization (WTO):
The WTO deals with the global rules of trade between nations.
The goal of the WTO is to help producers of goods and services, exporters, and importers conduct their business.
The WTO, which is a successor body of the General Agreement on Tariffs and Trade, came into being following the Uruguay Round of Negotiations.
The WTO distances itself in framing of rules on trad in intellectual property rights.
Which of the statements given above are correct?
  • 1, 2 and 3
  • 2, 3 and 4
  • 1, 2 and 4
  • 1 and 3 only
Which of the following group of countries has formed the NAMA-11 of World Trade Organization?
  • Developed countries
  • Least developing countries
  • Developing countries
  • None of the above
What does S & P 500 relate to?
  • Super computer
  • A new technique in e-business
  • A new technique in bridge building
  • An index of stocks of large companies
IMF was established to meet which of the following objectives?
Promoting international monetary co-operation.
Expanding international trade.
Lessening the disequilibrium in balance of trade.
Avoiding competitive exchange depreciations.
  • 1, 2 and 3
  • 1, 3 and 4
  • 2 and 4
  • 1, 2, 3 and 4
TRIPS (Trade Related Aspects of Intellectual Property Rights) agreement is administered by
  • UNCTD
  • UNO
  • WTO
  • World Bank
Which among the following statements is/are true with regard to WTO membership?
All WTO members automatically receive the most favourable nation status.
Over 75% 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?
  • only 1
  • only 2
  • Both 1 and 2
  • Neither 1 nor 2
Consider the following pillars 
Domestic Support 
Market access
Export Subsidies
Which of the following pillars given above is/are included in Agreement on Agriculture of the WTO?
  • Only 2
  • 1 and 3
  • 2 and 3
  • All of these
'Global Competitiveness Report' is released by which of the following organisations?
  • WTO
  • EU
  • World Bank
  • WEF
Which one of the following organisations is related with Doha Development Agenda?
  • IMF
  • WTO
  • World Bank
  • UNO
Which one of the following institutions is related with the Green/Blue Box subsidies? 
  • United Nations
  • World Bank
  • World Tourism Organization
  • World Trade Organization
On the administered price of which of the following articles no subsidy is given?
  • DAP
  • ATF
  • IPG
  • Kerosene oil
Liberalisation implies _____.
  • reduction in government's control over economy
  • encouragement to public sector
  • nationalisation
  • none of these
Which of the following was the reason for initiation of economic reforms in 1991?
  • Increase in fiscal deficit
  • BoP crisis
  • Fall in foreign exchange reserves
  • All of these
National Renewal fund was constituted for the purpose of
  • providing pension for retiring employees
  • social security
  • rural reconstruction
  • restructuring and modenisation of industries
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