Classical

Advanced Questions - Section 3

1:  

The European Union is an example of a/an

A.

customs union

B.

economic union

C.

common market

D.

free trade area

 
 

Option: C

Explanation :


2:  

A SEZ is

A.

a regional area within which trade with foreign nations is allowed

B.

a free trade agreement among several nations

C.

designed to limit exports of manufac­tured goods by placing export taxes on goods made within the zone

D.

designed to promote exports by deferring import duties on intermediate inputs and waving such duties if the final product is re-exported rather than sold domestically

 
 

Option: D

Explanation :


3:  

A feasible effect of international trade is that a (an)

A.

Monopoly in the home market becomes an oligopoly in the world market

B.

Oligopoly in the home market becomes a monopoly in the world market

C.

Purely competitive firm in the home market becomes an oligopolist

D.

Purely competitive firm in the home market becomes a monopolist

 
 

Option: A

Explanation :


4:  

Holder of an American call option can

A.

Buy the asset only on expiration

B.

Sell the asset on or before expiration

C.

Buy the asset on or before expiration

D.

Sell the asset only on expiration

 
 

Option: C

Explanation :


5:  

Which country is not a member of the European Union

A.

Spain

B.

Germany

C.

France

D.

Iceland

 
 

Option: D

Explanation :




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