1

Marks: 1
In the post 1991 era, the focus of trade policies in India has been on
Choose one answer.

a. All the specified options

b. Outward orientation

c. Move away from quantitative restrictions

d. Imposing higher tariff barriers

e. All the specified options except imposing higher tariff barriers

Question2
Marks: 1
Before 1992, the duration of Export Import Policies (EXIM) was
Choose one answer.

a. One year

b. Three years

c. Five years

d. Seven years

e. None of the specified options

Question3
Marks: 1
To encourage export of quality goods, business units in India are classified as
Choose one answer.

a. Export house
 b. Trading house

c. Star trading house

d. Super star trading house

e. Blue diamond Trading House

f. All the specified options except blue dimond trading house

Question4
Marks: 1
After the second world war, during the meeting in Bretton Woods, USA the setting up of
following organizations was proposed
Choose one answer.

a. International Monetary Fund (IMF)

b. World Bank (IBRD)

c. International Trade Organization (ITO)

d. General Agreement of Tariff and Trade (GATT)

e. International Monetary Fund, World Bank and International Trade O

f. International Monetary Fund, World Bank and General Agreement on

g. International Monetary Fund, World Bank and World Trade Organiza

h. World Trade Organization

Question5
Marks: 1
India on the platform of WTO has argued for
Choose one answer.
 a. Removal of distorting subsidies and protection by developed count
playing field

b. Appropriate provision designed to safeguard food and/ or livelihood

developing countries
c. Removal of distorting subsidies and protection by developed countr
playing field and appropriate provision designed to safeguard food an
security in developing countries
d. None of the specified options

Question 1
Marks: 1
What have been the constraints on the growth of exports in India
Choose one answer.
a. High transaction cost

b. Complex export - import procedures

c. Ad hoc restrictions on the export of some agricultural products

d. Reservation of many items with high export potential for small scale industries
e. Ad hoc restrictions on the exports of some agricultural products and complex export -
import procedures
f. All the specified options
Question 2
Marks: 1
Attempts to liberalize the restrictions on trade flows began
Choose one answer.
a. Before 1991 itself

b. After 1991

c. After 1997

d. Before 1971

e. Never
Question 3
Marks: 1
In Special Economic Zones
Choose one answer.
a. 100% FDI is permitted through automatic route

b. FIPB approval is required for FDI

c. Approval from the Ministry of Finance is required for FDI

d. Approval is required from the FIPB and Ministry of Finance

e. None of the specified options

Question 4
Marks: 1
General Agreement on Tariffs and Trade has
Choose one answer.
a. Included tariffs on agriculture products in its domain

b. Excluded tariffs on agriculture products from its domain

c. Largely succeeded in dismantling tariffs on industrial products

d. Included tariffs on agriculture products in its domain and largely succeeded in
dismantling tariffs on industrial products
e. Excluded tariffs on agriculture products from its domain but largely succeeded in
dismantling tariffs on industrial products
Question 5
Marks: 1
Which of the following agreements on the platform of World Trade Organization are binding on
all the member countries?
Choose one answer.
a. Plurilateral Agreements

b. Multilateral Agreements

c. Plurilateral and Multilateral Agreements

d. Unilateral, Plurilateral and Multilateral Agreements

e. Semilateral, Unilateral, Plurilateral and Multilateral Agreements

Top of Form
Question 1
Marks: 1
What have been the constraints on the growth of exports in India
Choose one answer.
a. High transaction cost

b. Complex export - import procedures

c. Ad hoc restrictions on the export of some agricultural products

d. Reservation of many items with high export potential for small scale industries
e. Ad hoc restrictions on the exports of some agricultural products and complex export -
import procedures
f. All the specified options
Question 2
Marks: 1
At the time of independence India had
Choose one answer.
a. Surplus on trade account

b. Deficit on trade account

c. Zero balance on trade account

d. Depleting foreign exchange reserves

e. None of the specified options

Question 3
Marks: 1
Which of the following is true about the Agriculture Export Zones (AEZs)?
Choose one answer.
a. State governments are responsible for identifying the zones for AEZs
b. State governments are responsible for evolving a comprehensive package of services for
AEZs
c. Preferential trading house status can be granted to units in AEZs on achievement of 1/3rd
of the threshold limit prescribed for exports of goods
d. State governments are responsible for identifying the zones for AEZs and for evolving a
comprehensive package of services for AEZs
e. All the specified options
Question 4
Marks: 1
After the second world war, during the meeting in Bretton Woods, USA the setting up of
following organizations was proposed
Choose one answer.
a. International Monetary Fund (IMF)

b. World Bank (IBRD)

c. International Trade Organization (ITO)

d. General Agreement of Tariff and Trade (GATT)

e. International Monetary Fund, World Bank and International Trade Organization

f. International Monetary Fund, World Bank and General Agreement on Tariff and Trade

g. International Monetary Fund, World Bank and World Trade Organization

h. World Trade Organization

Question 5
Marks: 1
India has moved from
Choose one answer.
a. Process patent to product patent regime

b. Product patent to process patent regime

c. Patent less regime to patented regime

d. None of the specified options

Top of Form
Question 1

Marks: 1

Which of the following is not true about the trade policies in India in the recent
period?

Choose one answer.

a. Announcement fo Focus Product and Focus Market Schemes

 b. Focus on employment generation in rural and semi urban areas through
exports

c. Initiatives to make India a gem and jewelery hub of the world

d. Announcement of waiver of all custom duties if the company has acieved a

star export company status

e. None of the specified options

Question 2

Marks: 1

In the pre-reform period the reasons for the problems on the balance of payment
front were

Choose one answer.

a. Heavy industrialization program

b. Green reveloution strategy

c. Oil price shocks

d. Droughts

e. Green reveloution strategy and oil

price shocks

f. All the specified options

Question 3

Marks: 1

In Special Economic Zones

Choose one answer.

 a. 100% FDI is permitted through automatic
route

b. FIPB approval is required for FDI

c. Approval from the Ministry of Finance is

required for FDI

d. Approval is required from the FIPB and

Ministry of Finance

e. None of the specified options

Question 4

Marks: 1

After the Second World War, during the meeting in Bretton Woods, USA the setting
up of following organizations was proposed

Choose one answer.

a. International Monetary Fund (IMF)

b. World Bank (IBRD)

c. International Trade Organization (ITO)

d. General Agreement of Tariff and Trade (GATT)

e. International Monetary Fund, World Bank and International Trade

Organization

f. International Monetary Fund, World Bank and General Agreement on

Tariff and Trade

g. International Monetary Fund, World Bank and World Trade

Organization

h. World Trade Organization

Question 5
Marks: 1

The general principals on which multilateral agreements on World Trade

Organization platform are based on are

Choose one answer.

a. Protection only through tariffication

b. Negation of most favoured nation

c. National treatment rule

d. Protection only through tariffication and negation of most

favoured nation

e. All the specified options

Question 1
Marks: 1
Trade policies in India, in the post 1991 period, aim at improving the balance of payment
through
Choose one answer.
a. Restricting imports

b. Encouraging exports

c. Encouraging exports and restricting imports

d. Encouraging exports, restricting imports, increasing tariff barriers

e. Encouraging exports, restricting imports, imposing quantative restrictions

Question 2
Marks: 1
In the pre-reform period, imports were classified as
Choose one answer.
a. Open general license category
 b. Restricted items

c. Open general license category and restricted items

d. Restricted items and Banned items

e. Open general license category, restricted items, canalized items and banned items
Question 3
Marks: 1
To simplify export import procedures following has been introduced in India
Choose one answer.
a. Powers to issue Trading House Certificate delegated to regional licensing authority

b. Electronic filing of license applications has been extended to all major ports

c. Exporters are expected to get licenses within 24 hours

d. All the specified options

Question 4
Marks: 1
General Agreement on Tariffs and Trade has
Choose one answer.
a. Included tariffs on agriculture products in its domain

b. Excluded tariffs on agriculture products from its domain

c. Largely succeeded in dismantling tariffs on industrial products

d. Included tariffs on agriculture products in its domain and largely succeeded in
dismantling tariffs on industrial products
e. Excluded tariffs on agriculture products from its domain but largely succeeded in
dismantling tariffs on industrial products
Question 5
Marks: 1
Multifibre agreement refers to
Choose one answer.
a. Quota system for textile exports

b. Quota system for textile exports and tariff on textile exports

c. Tariff on textile exports

d. Licensing of textile exports

e. All the specified options