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General Awareness / Foreign Trade

For any country, in which of the following categories can we define 'Balance of Payment'?
  1. Favorable Balance of Payment.
  2. Adverse Balance of Payment
  3. Balanced Balance of Payment.
  4. Any one of the above term can be used
  5. None of the above
An economy that do not export or import from other country, is said to be……….
  1. Open economy
  2. Closed economy
  3. Mixed economy
  4. Socialist economy
  5. Capitalist economy
If import increase then the current account deficit of country is likely to?
  1. Will remain constant.
  2. Is likely to increase
  3. Is likely to decrease.
  4. All of these
  5. None of the above
Which of the following organization/institution will provide fund for the deficit in balance of payments of a country?
  1. International Monetary Fund
  2. World Trade Organization.
  3. Bank for international settlement
  4. Group of 7 Developed Nations.
  5. None of the above
Which of the following is included in Export-Import of a country?
  1. Visible items
  2. Invisible items
  3. Only a
  4. both a and b
  5. None of the above
Which of the following is not included in invisible item in balance of payments:
  1. Tour and travels paid by tourist
  2. Foreign remittance
  3. Hotel charges
  4. Food grains
  5. None of the above
Which one of the following, clearly defines the meaning of the balance of payments of a country?
  1. Balance in consolidated fund of the country.
  2. Balance with international monetary fund
  3. Balance in World Bank.
  4. Public debt of that country
  5. Record of foreign trade of the country
What is the effect of an increase in demand for export on the foreign currency reserve of a country?
  1. It will be Positive for the foreign currency reserve of that country.
  2. It will be Negative for the foreign currency reserve of that country.
  3. It will be Nautral for the foreign currency reserve of that country.
  4. All of these
  5. None of the above
Which of the following is included in the Balance of payments of a country:
  1. Current account
  2. Capital account
  3. Revenue accounts
  4. Saving account
  5. Both 1 and 2
What will be effect of an increase in the debt of a country on current account deficit?
  1. It shall be effected positively .
  2. It shall be effected negatively
  3. It shall be effected neutrally
  4. All of these
  5. None of the above