International Economics One Mark Questions

12th Standard EM

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Economics

Time : 00:30:00 Hrs
Total Marks : 15
    10 x 1 = 10
  1. Trade between two countries is known as ____ trade

    (a)

    External

    (b)

    Internal

    (c)

    Inter-regional

    (d)

    Home

  2. Which of the following factors influence trade?

    (a)

    The stage of development of a product

    (b)

    The relative price of factors of productions.

    (c)

    Government.

    (d)

    All of the above.

  3. Exchange rates are determined in

    (a)

    money market

    (b)

    foreign exchange market

    (c)

    stock market

    (d)

    capital market

  4. Exchange rate for currencies is determined by supply a!ld demand under the-system of

    (a)

    Fixed exchange rate

    (b)

    Flexible exchange rate

    (c)

    Constant

    (d)

    Government regulated

  5. International trade was developed by

    (a)

    Adam Smith and Ricardo

    (b)

    Eli Heckscher and Bertil Ohlin

    (c)

    Ricardo and A.C. Pigou

    (d)

    Adam Smith and Ohlin

  6. _______ includes both visible and invisible items.

    (a)

    Balance of payment

    (b)

    Balance of Trade

    (c)

    Foreign Trade

    (d)

    None of these

  7. _______ equals Export - Import

    (a)

    Gross Import

    (b)

    Gross Export

    (c)

    Net Import

    (d)

    Net Export

  8. _______ are determined in foreign exchange rate.

    (a)

    Rate of interest

    (b)

    Exchange rate

    (c)

    Net Exports

    (d)

    All the above

  9. _______ means value of exports is more than that of imports.

    (a)

    Unfavorable trade

    (b)

    International trade

    (c)

    Favorable trade

    (d)

    External trade

  10. ________ refers to the exchange of goods and services with the political and geographical boundaries of a nation.

    (a)

    Internal Trade

    (b)

    External Trade

    (c)

    Foreign Trade

    (d)

    Global trade

  11. 5 x 1 = 5
  12. Net Barter Terms of trade

  13. (1)

    R/P≠1

  14. Gross Barter Terms of Trade

  15. (2)

    R/P=1

  16. The single Factoral Terms of Trade

  17. (3)

    Viner

  18. Balance of Payments Disequilibrium

  19. (4)

    Taussig

  20. Balance of Payment Equilibrium

  21. (5)

    Tn = (Px/ Pm) x 100

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