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21. Which of the following is NOT a monetary measure for correction of the balance of payments disequilibrium?
Monetary expansion / contraction
Exchange control
Foreign loans
Devaluation
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22. Trade measures for correction of the balance of payments disequilibrium include
Export promotion
Import control
Both (A) and (B)
Import substitution
23. The area where the members remove trade barriers among themselves but keep their separate national barriers against trade with the outside world is known as
Customs-Union
Common Market Area
Economic-Union
Free-trade Area
24. An economic integration in which member countries unity all their economic policies, including monetary, fiscal and welfare policies as well as policies toward trade and factorial migration, is known as
Economic-union
Common-market
Customs-union
Free-trade area
25. If a nation has some monopoly power over world prices, it can reap net gains from
Export duty
Import duty
Transit duty
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