Exchange rates are determined in

(a)

money market

(b)

foreign exchange market

(c)

stock market

(d)

capital market

Who among the following enunciated the concept of single factoral terms of trade?

(a)

Jacob Viner

(b)

G.S.Donens

(c)

Taussig

(d)

J.S.Mill

BOP includes

(a)

visible items only

(b)

invisible items only

(c)

both visible and invisible items

(d)

merchandise trade only

Comparative cost advantages was developed by

(a)

Adam Smith

(b)

Ricardo

(c)

T.S.Mill

(d)

J.R.Hicks

_______ are determined in foreign exchange rate.

(a)

Rate of interest

(b)

Exchange rate

(c)

Net Exports

(d)

All the above

Define Terms of Trade.

What do you mean by Balance of Payments?

Define Comparative Cost Advantage.

What is Foreign Exchange?

List the assumption of Adam smith trade theory.

Distinguish between Balance of Trade and Balance of Payments.

What are import quotas?

List out the limitations of Modern Theory of International Trade?

What are the assumption of Modern theory international trade?

Discuss the elements of Automatic Correction in trade disequilibrium.

Explain the types of Terms of Trade given by Viner.

How the Rate of Exchange is determined? Illustrate.