International Business Environment:
Questions 1. The world’s poorest countries are at a competitive disadvantage in every sector of their economies. They have little to export. They no capital: their land is of poor quality: they often have too many people given available work opportunities: and they are poorly educated. Free trade is not in interest of these companies. Discuss
Questions 2. How do you think the successful conclusions of the multilateral agreement to liberalize regulations governing FDI will benefit the world economy?
Questions 3. Discuss the competitive advantage theory of international trade. How this theory different from other theories.
Questions 4. On what basis countries as classified as low income, middle income and high income countries? Do you think economics status of a country will influence its global business?
Questions 5. Explain different types of economic system. What are the major challenges faced by the command economies while transiting to a market economy?
Questions 1. Explain the following terms 1 tariff 2) subsidies and countervailing duties 3) quotas 4) voluntary export restraint 5) local content requirement. Why do advanced countries insist on elimination of subsidies?
Questions 2. Explain the achievement of EU in integrating its member countries. How formation of EU is beneficial for India.
Questions 3. How is WTO different from GATT? What are the main issued in doha development agenda and what are the implications for the developing countries?
Question 1. What are the key mistakes Kim Woo-Choong made in formulating and implementing Daewoo's strategy and how did the economic crisis in Korea and in rest of Asia affect that strategy?
Question 2. How would you describe Korea's economic system before its economy was affected by the Asian Financial crisis? What was the role of IMF in reforming the economic system in Korea?
1. Which one of the following is not an assumption of the Ricardo Model?
i. Constant returns to scale
ii. Factors of production can be transferred easily one sector to another
iii. There is perfect competition in the market
iv. Technological innovation is a unique feature of the market structure
2. Which of the following is not a form of Non-Tariff Barrier
i. Subsidies
ii. Local Content Requirement
iii. Ad valorem Duties
IV. Technical Standards
3. For a US trader a direct quote will be:
i. US$ 1 = 56.7 Yen
ii. GBP 1 = 34.5 Yen
iii. GBP 1 = 35.6 Euro
iv. None of the above
4. Which of the following is an example of depreciation of Indian Rupee
i. Now US$ 1 = 45 INR after 3 months US$ 1 = 50 INR
ii. Now US$ 1 = 50 INR after 3 months US$ 1 = 45 INR
iii. Both i and ii above
IV. None of the above
5. A currency is said to be at a premium when:
i. Spot rate is higher than the forward rate
ii. Forward rate is higher than the spot rate
iii. Forward rate is equal to the spot rate
IV. None of the above
6. which of the following statement describes the Huckster-Ohlin Theory
i. Countries should export goods that are made of factors of production that are available in abundance in the economy
ii. Countries should produce and export those goods in which they have absolute advantage
iii. Countries should produce and export those goods in which they have comparative advantage
iv. Increase in the endowment of one of the factors will reduce the production of goods that intensively use the other factor
7. "If US is capital rich and innovation increases the productivity of capital, then labor intensive industries in US will get hurt" is
i. Stolper-Samuelson Theorem
ii. Leontief Paradox
iii. Rybczynski Theorem
iv. Heckscher-Ohlin Theory
8. Which of the following is not part of Current Account transactions of a country?
i. Merchandise trade
ii. Unilateral Transfers
iii. Receipts from FDI abroad
iv. Change in forex reserve of a country
9. In an economy which out of the following is not the reasons for internal debt i.e. excess of government expenses over revenue, are:
i. poorly managed tax system
ii. Huge expenses on defense and welfare program
iii. State owned enterprises have huge losses
iv. Impressive economic growth
10. Which of the following is not an underlying principle of GATT?
i. Trade concessions by member countries will be reciprocated
ii. Countries should grant preferential treatment to other member countries
iii. Trade dispute between member countries to be settled by dispute settlement mechanism of GATT
iv. Policies governing external trade should be transparent
11. Which of the following is not an objective of NAFTA:
i. Access to financial services
ii. To investigate environment and labor abuses
iii. No change in tariff
iv. Protection for investment
12. Which of the following is not a type of regional economic integration?
i. Free Trade Area
ii. Customs Union
iii. Common Market
iv. GATT
13. EU is an example of which type of regional economic integration?
i. Economic Integration
ii. Customs Union
iii. Free Trade Agreement
iv. Preferential Trade Agreement
14. Which of the following is an example of regional trade agreement among Asian Countries?
i. SAPTA
ii. CARICOM
iii. EEC
iv. CACM
15. Which of the following is founder member country of ASEAN?
i. Cambodia
ii. Singapore
iii. India
iv. Vietnam
16. GATT was formed in which year and by how many countries?
i. 1920, 15 countries
ii. 1947, 23 countries
iii. 1947, 15 countries
iv. 1935, 23 countries
17. Which of the following is not an example of Quantitative Restriction on trade?
i. Quotas
ii. Voluntary Export Restraint
iii. Embargo
iv. Subsidies
18. India is an example of which type of Economic System
i. Mixed Economy
ii. Command Economy
iii. Market Economy
iv. Centrally Planned Economy
19. In a command economy or centrally planned economy
i. Government owns and controls all resources
ii. Society owns and controls all resources
iii. Community owns and controls all resources
iv. Private entities owns and controls all resources
20. Which of the following economic indicator is used to rank countries in terms of their individual wealth by World Bank?
i. GDP per capita
ii. GNI per capita
iii. PPP
iv. GNI
21. Dumping which is a type of non-tariff barriers means
i. Selling products at less than fair value
ii. Selling goods that are mass produced in an economy
iii. Selling goods utilizing old technology
iv. Selling goods of inferior quality
22. Which of the following pair is wrongly matched?
i. Theory of Absolute Advantage - Adam Smith
ii. Theory of Comparative Advantage - David Ricardo
iii. Heckscher-Ohlin Theory - Wassily Leontif
iv. Product Life Cycle Theory - Raymond Vernon
23. According to Porter, which of the following factors will not help in determining the Global Competitive Advantage of the company?
i. Monopoly market conditions i.e Absence of Rivals
ii. Firm Strategy
iii. Presence of related and supporting industry
iv. Factor conditions
24. Observation that "US exports were less capital intensive the US imports" which is the contradiction to the HO model is known as
i. Leontif Paradox
ii. Stopler-Samuelson Theorem
iii. Rybczynski Theorem
iv. New Product Life Cycle Theorem
25. In which type of trade agreement no duties are charged on imports from member countries
i. Preferential Trade Agreement
ii. Free Trade Agreement
iii. Custom Union
iv. None of the above
26. GATT stands for
i. General Agreement on Trade and Tariffs
ii. General Agreement on Tariffs and Trade
iii. General Arrangement on Tariffs and Trade
iv. General Arrangement on Trade and Tariffs
27. Which of the following was not an achievement of the Uruguay Round of negotiations?
i. Agreement on services
ii. Protection of Intellectual property rights
iii. 10 year phase out of MFA
iv. Agreement on Trade in Agriculture
28. Which of the following countries is not a member of ASEAN?
i. Thailand
ii. China
iii. Vietnam
iv. Singapore
29. Glasnost and Perestroika were introduced by which Soviet Leader?
i. Mikhail Gorbachev
ii. Leonid Brezhnev
iii. Yuri Andropov
iv. Konstantin Chernenko
30. Which of the following country was first to disintegrate from Soviet Republic?
i. Ukraine
ii. Lithuania
iii. Turkmenistan
iv. Tajikistan
31. Which if the following country was not the member of the European Coal and Steel Community (ECSC)?
i. Belgium
ii. France
iii. Spain
iv. Germany
32. Neo-mercantilist theory is different from the Mercantilist theory as neo-mercantilist theory proposes that
i. A country should have favourable balance of trade
ii. Countries should trade with each other for social and political objectives
iii. Country should promote import and restrict export
iv. Country should export those products which they can produce more efficiently
33. WTO was formed during which round of negotiations?
i. Uruguay Round
ii. Doha Round
iii. Singapore Round
iv. Tokyo Round
34. Which of the following is an example of cross exchange rate?
i. USD 1 = 50.6 Euro
ii. USD 1 = 45.7 GBP
iii. Yen 1 = 34.5 Euro
iv. USD 1 = 45.9 INR
35. How inflation and Exchange rate are related to each other?
i. Higher inflation leads to currency devaluations
ii. Higher inflation leads to currency appreciation
iii. High inflation leads to currency stability
iv. There is no relation between inflation and exchange rate
36. External Debt is measured as
i. Total External Debt of a country
ii. Debt as percentage of GDP
iii. Total of Fiscal deficit and External borrowings
iv. Both i and ii above
37. What does transition to market economy means?
i. Liberalizing economic activity
ii. Control of economy by government
iii. Imposing trade restrictions
iv. All of the above
38. Which of the following countries is not a member of MERCOSUR?
i. Brazil
ii. Argentina
iii. Paraguay
iv. Mexico
39. What is a convertible currency?
i. Currency that can be freely traded with other currencies
ii. Currency that can be traded only with hard currencies
iii. Currencies of the Asian Countries
iv. Currencies of the developed countries
40. Currency Speculation is done to
i. Cover risk and earn profit
ii. Cover risk
iii. Maintain foreign currency account to earn interest
iv. None of the above
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Year: 2015