Concept of comparative advantage was introduced by David Ricardo in:

• A) 1807
• B) 1837
• C) 1827
• D) 1817

Sweden joined European Union in:

• A) 1999
• B) 1990
• C) 1995
• D) 1985

Core-Periphery relationship perpetuates because of:

• A) Technological advantage
• B) Absolute disadvantage
• C) Comparative advantages
• D) Absolute advantage

Which of the following statement is TRUE?

• A) According to Ricardo there is fixed population growth.
• B) According to Malthus there is fixed population growth.
• C) According to Boserup there is fixed population growth.
• D) According to Fisher there is fixed population growth.

--------- banks focused on exploiting potential profits by transferring capital where needed more.

• A) European countries
• B) Developing countries
• C) Developed countries
• D) Asian countries

Wallerstein introduced two types of societies in:

• A) 1956
• B) 1986
• C) 1966
• D) 1976

---------- intentionally became the dominant ruler of the world:

• A) Russia
• B) United States (US)
• C) China
• D) United Kingdom

-----------played an important role in the uniformity of global taste.

• A) Telegram/Newspaper
• B) Radio/Telegram
• C) Newspaper/Radio
• D) TV/Cinema

Developing nations depend on developed countries for the gain of:

• A) Raw material and human resources
• B) Raw material
• C) Labor resources
• D) Technology and capital resources

China establishes special economic zones in:

• A) Shenzhen
• B) Beijing
• C) Shanghai
• D) Tianjin

Remarkable growth of TNCs were took place after:

• A) 1955
• B) 1950
• C) 1960
• D) 1945

Cartels can be formed in -------- market structure.

• A) Monopoly
• B) Oligopoly
• C) Duopoly
• D) Perfect competition

Which country has the fourth highest population in the world?

• A) India
• B) USA
• C) Malaysia
• D) Indonesia

International Monetary Fund (IMF) launched ------- loan to Indonesia.

• A) $53 billion
• B) $63 billion
• C) $33 billion
• D) $43 billion

Absence of restrictions in trade and factor flows is known as:

• A) Interdependence
• B) Independence
• C) Integration
• D) Openness

Self-Sufficiency framework is based on all of the following factors EXCEPT:

• A) Current affairs
• B) State of mind
• C) Economic affairs
• D) Technology

Hungary's prime minister Viktor Orban has promised reforms and reducing bureaucracy to crack down on corruption in:

• A) 2001
• B) 2010
• C) 2004
• D) 2007

An enterprise that operates simultaneously in two or more countries with ----------- becomes TNC.

• A) International factor immobility
• B) International factor mobility
• C) National factor mobility
• D) National factor immobility

According to -------- there are two types of human needs.

• A) Adam Smith
• B) Fisher
• C) Samuelson
• D) Keynes

Which of the following statement is FALSE?

• A) Indian National Congress won election in 2004.
• B) Bharatiya Janata Party won election in 2019.
• C) Indian National Congress won election in 2014.
• D) Bharatiya Janata Party won election in 2009.