GATS stand for;

• A) General Agreement on Transport Sector
• B) General Agreement on Trade in Services
• C) General Agreement on Traffic and Settlement
• D) General Agreement on Tariff on Services

When a domestic firm grants the right to a foreign firm to produce its product, use its production processes, or use its brand name or trademark is known as:

• A) Green-field investment
• B) Licensing
• C) Universal Investment
• D) Furnished Investment

MFA stands for;

• A) Multinational Forecasting Agreement
• B) Manipulated Fighting Agreement
• C) Multifibre Agreement
• D) Manual Free Agreement

TRIPS stand for;

• A) Trade-Related Aspects of International Progress Restoration
• B) Trade-Related Aspects of International Property Rights
• C) Trade-Related Aspects of Intellectual Property Rights
• D) Trade-Related Aspects of Intellectual Prosperity Resolution

In studying the variable known as ‘Factor endowments, which of the following is included in ‘basic factors’?

• A) Natural resources
• B) Communication infrastructure
• C) Skilled labor
• D) Technological know-how

Which one of the following important matter was unaddressed in Uruguay round of WTO?

• A) Services
• B) Agriculture
• C) Foreign Direct Investment
• D) Intellectual Property

Which of the following is NOT involved in creating a pressure by domestic rivalry?

• A) Improvement in product quality
• B) Innovation
• C) Reduction in costs
• D) Increase competition between MNCs and local firms

The total accumulated value of foreign-owned assets at a given time is known as:

• A) Stock of FDI
• B) Inflow of FDI
• C) Growth of FDI
• D) Flow of FDI

OPEC stands for;

• A) Organization of Purification drugs Exploring Countries
• B) Organization of Petroleum Exporting Countries
• C) Organization of Plotter and Plant Exporting Countries
• D) Organization of Petrochemical Exporting Countries

The most common political reason for trade restrictions are:

• A) Protecting jobs & industries
• B) Protecting Govt. institutions
• C) Protecting banks & markets
• D) Protecting markets & Govt. institutions

Which of the following country has accounted the largest FDI in USA?

• A) France
• B) Saudi Arabia
• C) UK
• D) Spain

Countries are held together by a common sense of __________.

• A) Attitude
• B) Image
• C) Psyche
• D) Identity

In which country meeting of GATT was called after Uruguay Round?

• A) USA
• B) Japan
• C) France
• D) Morocco

Which of the following is a quota on trade imposed by the exporting country, typically at the request of the importing country’s government?

• A) Voluntary export restraint
• B) Ad Valorem tariff
• C) Specific tariff
• D) Niche lining tax

Porter theory is one of the latest theories about international trade and business. Why did Porter present a new theory?

• A) Because existing theories had nothing to do with international business
• B) Because existing theories were based on postulates
• C) Because existing theories of international trade told only part of the story
• D) Because existing theories were not practical

The amount of FDI undertaken over a given time period (normally a year) is known as:

• A) Inflow of FDI
• B) Growth of FDI
• C) Flow of FDI
• D) Stock of FDI

It is an economic benefit provided by the government to exporters, which gives them an unfair advantage in foreign markets.

• A) Subsidy
• B) Margin
• C) Royalty
• D) Quota

Who had written the book, Principles of Political Economy in 1817?

• A) David Hume
• B) David Ricardo
• C) Hagelstam
• D) Heckscher

Who presented the product life cycle theory?

• A) Vernon
• B) Aristotle
• C) John Dunning
• D) Adam Smith

The marketing imperfection approach to FDI is typically referred to which of the following theory?

• A) Internalization theory
• B) Theory of automata
• C) Rationalized theory
• D) Theory of abundant resources