Business series 3 November 29, 2020wefru 0 Created on November 28, 2020 By wefru Businesses Series 3 CHECK YOUR SKILLS 1 / 10 21. The main watchdog of international trade is IMF World Bank WTO UNCTAD 2 / 10 22. Who is the Chairman of NDC? Finance Minister Prime Minister Lok Sabha Speaker Minister of Planning 3 / 10 23. India is not a member of G-15 ASEAN UNO ILO 4 / 10 24. Stagflation means Inflation with recession Recession and stagnation Inflation galloping like a stag Inflation and increasing output 5 / 10 25. 'Level playing field' argument of industries requires MNCs to be treated at par with the domestic industry Domestic industry to be given preference over MNCs. Licence to MNCs be given only in environment-friendly technologies MNCs to be stopped from investing in India 6 / 10 26. Which two of the following are the most likely effects of the imposition of a tariff on an imported good?The domestic price of the imported good will fallOverseas production of the good may be stimulatedOverseas employment will riseGain of tax revenue by the government (c) and (d) (d) and (a) (d) and (b) (d) 7 / 10 27. Which two of the following arguments are most likely to be used to justify protectionism?To protect high cost domestic industriesTo protect strategically important industriesTo protect industries which are still immatureTo maximise government tax revenue (b) and (c) (b) and (a) (b) and (d) none 8 / 10 28. A protectionist measure whereby members of a regional trading bloc agree to impose an identical rate of protection on all goods imported from non-member countries. Common quota arrangements Non-tariff agreement Technological standards control VER agreements 9 / 10 29. A situation where any advantage given by one member of the WTO to another member must be extended to all WTO members. The excessive invoicing principle The intra-regional principle The trade diversion principle The most favoured nation principle 10 / 10 30. MNCs are in a good position to vary their strategies in different phases of the product life cycle. For instance in the ______________ phase(s) they will usually ___________ growth and maturity, move production to low-cost countries growth, maintain high prices launch, move production to low-cost countries decline, maintain high prices Your score isThe average score is 0% LinkedIn Facebook Twitter VKontakte 0% Restart quiz