International Business - International Business Section 2

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List-I	List-II
a. Free trade area	1. No restrictions on trade and factor movement.
b. Customs union	2. Trade is free and no customs duties.
c. Common market	3. No customs duties; duties on non-members.
d. Economic union	4. Advanced stage of integration.

Answer
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Option : C
Explanation :

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67. Assertion (A). The balance of the capital account is the difference between foreign exchange earned and foreign exchange spent by the company.
Reason (R). Balance of Invisibles is the difference between exports and imports of services. Code:

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Option : D
Explanation :

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68. Assertion (A). GATT was created to promote free trade.
Reason (R). Free trade always increases national welfare. Code:

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Option : C
Explanation :

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69. Assertion (A). IMP introduced an adjustable peg system.
Reason JR). IMF tried to prevent uncontrolled fluctuation of foreign exchange Codes:

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Option : A
Explanation :

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70. Assertion (A). India exports garments.
Reason (R). India has abundant labour and garments is a labour-intensive product. Codes:

Answer
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Option : B
Explanation :

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International Business Section 2

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