QUESTION 1 OF 24
The 1991 reforms included measures such as delicensing of industries, reduction of import tariffs, and:
Explanation: The 1991 reforms included delicensing of industries, reduced import tariffs, rupee devaluation, and opening to foreign investment.
QUESTION 2 OF 24
The term "Balance of Payments" records a country's transactions with the rest of the world, including:
Explanation: Balance of Payments records a country's transactions with the rest of the world, including trade in goods, services, and financial flows.
QUESTION 3 OF 24
A "Current Account Deficit" occurs when a country's imports of goods and services exceed its:
Explanation: A Current Account Deficit occurs when a country's imports of goods and services exceed its exports.
QUESTION 4 OF 24
Foreign Direct Investment (FDI) refers to investment made by a foreign entity to:
Explanation: Foreign Direct Investment (FDI) is investment made by a foreign entity to establish or acquire lasting business interests in another country.
QUESTION 5 OF 24
Foreign Institutional Investment (FII), also called Foreign Portfolio Investment, primarily involves investment in:
Explanation: Foreign Institutional Investment (FII), or Foreign Portfolio Investment, primarily involves investment in stock markets and financial instruments.
QUESTION 6 OF 24
The term "Special Drawing Rights" (SDR), an international reserve asset, is created and maintained by which institution?
Explanation: Special Drawing Rights (SDR), an international reserve asset, are created and maintained by the International Monetary Fund (IMF).
QUESTION 7 OF 24
The term "Foreign Exchange Reserves" refers to assets held by a country's central bank in:
Explanation: Foreign Exchange Reserves are assets held by a country's central bank in foreign currencies and gold.
QUESTION 8 OF 24
The term "Convertibility" of currency refers to the ease with which a currency can be:
Explanation: Convertibility of currency refers to the ease with which it can be exchanged for other currencies or gold.
QUESTION 9 OF 24
India adopted full convertibility on the current account in which year, following IMF Article VIII obligations?
Explanation: India adopted full current account convertibility in 1994, following IMF Article VIII obligations.
QUESTION 10 OF 24
The term "Capital Account Convertibility" refers to the freedom to convert:
Explanation: Capital Account Convertibility refers to the freedom to convert financial assets into foreign currency and vice versa.
QUESTION 11 OF 24
The term "Devaluation" of a currency refers to a deliberate downward adjustment of its value relative to:
Explanation: Devaluation refers to a deliberate downward adjustment of a currency's value relative to others, typically under a fixed exchange rate system.
QUESTION 12 OF 24
The term "Depreciation" of a currency, distinct from devaluation, refers to a decline in value due to:
Explanation: Depreciation of a currency, unlike devaluation, refers to a decline in value due to market forces under a floating exchange rate system.
QUESTION 13 OF 24
India's exchange rate regime is generally described as:
Explanation: India's exchange rate regime is generally described as a managed float.
QUESTION 14 OF 24
The term "Trade Deficit" occurs when a country's imports exceed its:
Explanation: A Trade Deficit occurs when a country's imports exceed its exports.
QUESTION 15 OF 24
The term "Trade Surplus" occurs when a country's exports exceed its:
Explanation: A Trade Surplus occurs when a country's exports exceed its imports.
QUESTION 16 OF 24
The term "Protectionism" in trade policy refers to measures such as tariffs designed to:
Explanation: Protectionism in trade policy refers to measures like tariffs designed to protect domestic industries from foreign competition.
QUESTION 17 OF 24
The World Trade Organization (WTO), which regulates international trade rules, was established in which year?
Explanation: The World Trade Organization (WTO), regulating international trade rules, was established in 1995.
QUESTION 18 OF 24
The term "Most Favoured Nation" (MFN) status in trade agreements requires a country to:
Explanation: Most Favoured Nation (MFN) status requires a country to extend the same favorable trade terms to all WTO member countries.
QUESTION 19 OF 24
The term "Free Trade Agreement" (FTA) between countries typically aims to:
Explanation: A Free Trade Agreement (FTA) typically aims to reduce or eliminate trade barriers like tariffs between countries.
QUESTION 20 OF 24
The South Asian Free Trade Area (SAFTA) agreement involves countries from which regional organization?
Explanation: The South Asian Free Trade Area (SAFTA) agreement involves countries from SAARC.
QUESTION 21 OF 24
The Regional Comprehensive Economic Partnership (RCEP), a major Asia-Pacific trade agreement, was notably not joined by:
Explanation: India notably withdrew from the Regional Comprehensive Economic Partnership (RCEP) negotiations.
QUESTION 22 OF 24
The term "Dumping" in international trade refers to exporting goods at a price:
Explanation: Dumping refers to exporting goods at a price lower than the price charged in the domestic market of the exporting country.
QUESTION 23 OF 24
Anti-dumping duties are imposed by importing countries to counteract the effects of:
Explanation: Anti-dumping duties are imposed to counteract the effects of dumping by foreign exporters.
QUESTION 24 OF 24
The term "Tariff" refers to a tax imposed on:
Explanation: A Tariff is a tax imposed on imported (or sometimes exported) goods.
More Indian Economy topics
Planning & Five-Year Plans6 QBanking & Monetary Policy14 QBudget, Taxation & Fiscal Policy29 QNational Income & Economic Indicators18 QExternal Sector & Trade24 QFinancial Markets & Institutions21 QAgriculture & Rural Economy11 QIndustry, Startups & Reforms11 QFinancial Inclusion & Social Sector13 QEmployment, Poverty & Inequality10 Q