IBM ASSIGNMENT 3 (CO4)

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All questions are compulsory.

Email *

Student Name *

Section *

What is the underlying characteristic of the WTO? *

1 point

It facilitates economic co-operation between different countries

It resolves disputes between economic trade blocks

It facilitates the development of less developed countries

It acts as an umbrella institution that regulates the agreements concluded at the Uruguay round, the organisation’s ultimate goal being the promotion of free international trade

Does the WTO come with its own institutional framework? *

1 point

No, the WTO depends on the relevant frameworks of national governments

No, the WTO provides certain institutional arrangements but only on an ad hoc basis

Yes, the WTO provides a certain institutional framework which changes depending on the nature of free trade agreements

Yes, the WTO provides a common institutional framework for the implementation of free trade agreements

What are the three key ‘components’ of the WTO? *

1 point

A Senate, a Judiciary and a Directorate

A Trade Commission, a Dispute Settlement Body and a Council of Ministers

An Executive apparatus, a Legislative apparatus and an Enforcement apparatus

A Board of Governors, the Assembly of Member States and a Steering Committee

Does the WTO apply its framework in exactly the same fashion throughout the world? *

1 point

Yes, the WTO applies its framework in exactly the same way throughout the world

Yes, the WTO applies its framework in exactly the same way around the world, unless it deals with trade blocks

No, the WTO makes allowance for regional variation

No, the WTO makes allowance for variation in the case of economically stronger countries

What are the two main functions of the WTO? *

1 point

The promotion of free trade and economic liberalism

The administration of the WTO agreements and the resolution of international trade disputes

The promotion of world peace, economic stability and financial co-operation

The administration of the WTO’s institutional framework and the promotion of economic co-operation amongst its members

Theoretically, what is the most significant organ of the WTO? *

1 point

The Committee on Trade and Development

The Council for Trade in Goods

The General Council

The Ministerial Conference

Practically, what is the most significant organ of the WTO? *

1 point

The Committee on Trade and Development

The Council for Trade in Goods

The General Council

The Ministerial Conference

Agreement on Agriculture (AOA) relates to *

1 point

Easy market access

Domestic support-subsidies and other programmes guarantee farm gate prices and farmers incomes

To make exports artificially competitive i.e. export subsidies

All of the above

ATC stands for *

1 point

Authourised Textile control

Agreement on textiles and clothing

All to co-operate

None of the above

The apex body of the Foreign Trade is: *

1 point

The Central Government.

The State Government.

The Ministry of Commerce.

All the above.

What does CCIE stand for? *

1 point

Chief Controller of Imports and Exports

Central Cottage Industries Exports.

Control on Cotton Imports and Exports.

Commissioner of Central Imports and Exports

Which is apex body of various exporters and export promotion organizations in India. *

1 point

Trade fair authourity of India

Export Credit Guarantee Corporation of India

Federation of Indian exporters organization

Directorate general of commercial intelliegnce and stactics

What is the full form of UCPDC *

1 point

Uniform civil practices for duty on customs

Unity for common purposes in duty on customs

Uniform customs and practice for documentary credits

Uniform customs and purposes for documentary credits

FERA was implemented in order to *

1 point

Conserve foreign exchange and put it to judicious utilization

Enable recognition of foreign exchange

Have an uniform civil law

Facilitate external trade and maintain an orderly growth of foreign exchange

IEC Number when alloted is valid for aperiod of : *

1 point

2 years from date of issue

5 years from date of issue

10 years from date of issue

It has no expiry

IEC Number consists of a : *

1 point

6 digit number

4 digit number

10 digit number

None of the above

The major functions of Export Promotion council (EPC) are: *

1 point

Provide commercially useful information and assistance to their members

Ensuring participation in trade fairs and exhibitions

Promoting interaction between the exporting community and governement

All of the above

Which of the following is an institution of World Bank? *

1 point

IBRD

IDA

IFC

All of the above

The investment arm of the world bank is *

1 point

IBRD

IDA

IFC

All of the above

What is the role of the IMF? *

1 point

It controls the budgets of national governments

It acts as a forum for international economics

It observes world exchange rates, balance of payments and multilateral payments

It seeks to promote free international trade

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