Part 3 – MCQ On International Trade
The Theory of Absolute Cost Advantage is given by ______
a. David Ricardo
b. Adam Smith
c. F W Taylor
d. Ohlin and Heckscher
View Answer
b. Adam Smith
The Theory of Relative Factor Endowments is given by ______.
a. David Ricardo
b. Adam Smith
c. F W Taussig
d. Ohlin and Hecksher
View Answer
d. Ohlin and Hecksher
The theory of comparative cost advantage is given by ______.
a. David Ricardo
b. Adam Smith
c. F W Taussig
d. Ohlin and Hecksher
View Answer
a. David Ricardo
Comparative Cost Trade Theory is given by ______
a. Adam Smith
b. David Ricardo
c. Gottfried Haberler
d. Heckscher Ohlin
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b. David Ricardo
________ is the payment method most often used in International Trade which offers the exporter best assurance of being paid for the products sold internationally.
a. Bill of Lading
b. Letter of Credit
c. Open Account
d. Drafts
Check correct answer
b. Letter of Credit
This is only a legal agreement and it is not an institution, but ______ is a permanent institution.
a. GATT, WTO
b. WTO, GATT
c.WTO, IMF
d. IMF, GATT
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a. GATT, WTO
The WTO was established to implement the final act of Uruguay Round agreement of _______
a. MFA
b. GATT
c. TRIP’s
d. UNO
View Answer
b. GATT
WTO stands for ______
a. World technology association
b. World time organization
c. World trade organization
d. World tourism organization
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c. World trade organization
NAFTA stands for ______
a. North African trade association
b. North American free trade agreement
c. Northern Atlantic trade agreement
d. Northern association for trade
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b. North American free trade agreement
The main promoter of trade liberalization was ______.
a. GATT
b. NAFTA
c. CEPTA
d. CISA
Check correct answer
a. GATT
Select an example of Indian Multinational Company.
a. Hindusthan Unilever
b. Videocon
c. Cargill
d. Tesco
Check correct answer
b. Videocon