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International Trade & BOP

UPSC Economy • 10 questions • Free on ExamBattle

Practice Questions

1. Q1

   Balance of Trade (BoT) is the difference between:

   • A. Total receipts and total payments
   • B. Exports and imports of goods (visible trade)
   • C. Foreign investment and domestic investment
   • D. Capital account and current account

2. Q2

   The WTO (World Trade Organization) replaced which institution?

   • A. GATT (General Agreement on Tariffs and Trade)
   • B. IMF
   • C. World Bank
   • D. UNCTAD

3. Q3

   India's largest export destination (major trading partner) is:

   • A. China
   • B. United States
   • C. UAE
   • D. Germany

4. Q4

   Current Account Deficit (CAD) means:

   • A. Government spends more than its revenue
   • B. Imports exceed exports of goods, services, and income
   • C. Foreign investment exceeds domestic investment
   • D. RBI holds fewer forex reserves

5. Q5

   Special Drawing Rights (SDRs) are:

   • A. Debt instruments issued by World Bank
   • B. International reserve assets created by the IMF
   • C. Bonds issued by developing countries
   • D. Trade credit facilities

6. Q6

   Dumping in international trade means:

   • A. Disposing hazardous waste across borders
   • B. Exporting goods below their production cost or domestic price to capture market share
   • C. Increasing tariffs
   • D. Restricting imports

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