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36. Under the "Par value system," each member country of IMF was required to define the value of its currency in terms of gold or the US dollar and to maintain the market value of its currency within
± 10% of the par value
± 7% of the par value
± 1 % of the par value
± 3% of the par value.
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37. Which of the following is a function of WTO?
To facilitate the implementation of the Multilateral Trade Agreement
To administer the Trade Review Mechanism
To administer the understanding of rules and procedures governing the settlement of disputes.
All of the above
38. If a country differs from the rest of the world n taste patterns but not in production capabilities, the trade will lead to some international specialization in
Consumption
Production
Exports
Imports
39. The income terms of trade indicate a nation's capacity
To import
To export
To improve its trade
None of the above
40. The current account of the balance of payments includes
Merchandise exports
Merchandise imports
Invisible exports and imports
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