Business Environment And International Business - Practice Test

[#606] Identify the correct statement.

(A) The Maastricht Treaty signed in February 1992 renamed European Community (EC) as European Economic Community (EEC)

(B) The main objective of the formation of ASEAN Free Trade Area in 1993 was to soften the restrictions on the movement of professionals in the region and helping poorer countries

(C) The SAARC is a regional grouping scheme among Six South Asian Countries

(D) The European Union, including European Monetary Union, was the biggest and most important regional integrative scheme

Correct Answer

(D) The European Union, including European Monetary Union, was the biggest and most important regional integrative scheme

[#607] Possible impact of WTO on various aspects of the Indian economy: (i) Quantitative restriction will be allowed (ii) Second hand cars will be imported (iii) There will be dumping of Chinese goods (iv) Increase in population (v) Child labour exploitation (vi) Unemployment will increase Which combination is appropriate?

(A) (i), (ii) and (iii)

(B) (iii), (iv) and (v)

(C) (ii), (iii) and (vi)

(D) (iv), (v) and (vi)

Correct Answer

(C) (ii), (iii) and (vi)

[#608] Consider the following statements. Assertion (A): Amended Patent Act, in compliance with WTO, provides for grant of product patent as well as a process patent for a period of 20 years from the date of application. Reason (R): Under the Act, patent may be granted to an invention which means a new product or process involving an inventive step and capable of industrial application, a technical advance over existing knowledge.

(A) Both (A) and (R) are true but, (R) is not correct explanation to (A)

(B) (A) is false, but (R) is correct

(C) Both (A) and (R) are true and (R) is correct explanation to (A)

(D) (A) is correct, but (R) is false

Correct Answer

(C) Both (A) and (R) are true and (R) is correct explanation to (A)

[#609] In case a nation is facing balance of payment crisis, which of the following institution must be approached?

(A) IMF

(B) IBRD

(C) ADB

(D) IFRS

Correct Answer

(A) IMF

[#610] Pump Priming is related with:

(A) Monetary policy

(B) Income policy

(C) Price policy

(D) Fiscal policy

Correct Answer

(D) Fiscal policy

Business Environment And International Business - Study Mode

[#606] Identify the correct statement.

Correct Answer

Correct Answer

Correct Answer

[#609] In case a nation is facing balance of payment crisis, which of the following institution must be approached?

Correct Answer

[#610] Pump Priming is related with:

Correct Answer