Finance B.Com 5th Semester-International Trade (2015)

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GAUHATI UNIVERSITY

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PAPER - INTERNATIONAL TRADE (FIN)

B.Com 5th Sem (2015)

1. (A) Choose the correct answer: (1x5=5)

(i) Which of the following states the main functions of WTO?

 (a) The promotion of free trade and economic liberalism.
 (b) The administration of the international trade agreement and the resolution of international trade disputes.
 (c) The promotion of world peace, economic stability, and financial co-operation.

 (d)The administration of WTO's institutional framework and the promotion of economic co-operation among its members.

(ii) Quantitative restrictions refer to the limits set by countries to curb:

 (a) imports 
 (b) exports 
 (c) imports and exports 
 (d) none of the above

(iii) "Product life cycle theory states that an exporting country of a particular product can become an importing country for the product".This statement is 

 (a) True (b) False

(iv)             states that, lack resources often helps countries to become competitive.

 (a) Competitive theory

 (b) Porters Diamond Model
 (c) Mercantilism theory
 (d) Product life cycle theory

1. (B) Answer the following in one sentence each: (1x5=5)

(i) Give an example of direct foreign exchange quote. Answer

(ii) In foreign exchange rate quotation what is 'ask rate'? Answer

(iii) Mention two non-tariff barriers. Answer

(iv) The abbreviation FEMA stands for? Answer (Foreign Exchange Management Act)

(v) What is Confirmed Letter of Credit? Answer



2. Answer the following in about 50 words each: (2x5=10)

(i) What do you mean by 'dumping'? Answer

(ii) State the meaning of 'embargo'. Answer

(iii) What is a bill of landing? Answer

(iv) What is the main purpose of Special Economic Zones? Answer

(v) Write the meaning of 'Nostro account'. Answer



3. Answer any four of the following in about 150 words each: (4x5=20)
             

(a) Discuss the various types of tariffs. Answer

(b) Write a short note on Most Favoured Nation (MFN). Answer

(c) Briefly, discuss the floating exchange rate system. Answer

(d) Does purchasing power parity theory explain the exchange rate? Discuss in brief. Answer

(e) Explain the factors which led to certain of GATT. Answer

(f) Discuss the salient features of 'Free Trade Area'. Answer


4. Answer the following in about 600 words each: (4x10=40)

(a) Critically discuss the opportunity cost theory of international trade. Answer

or

     

     Discuss the gains from international trade. Answer

(b) Explain the concept of 'optimum tariff'. Answer

or

     What is 'import quota'? Answer How does it differ from 'tariff'? Answer

(c) What is 'exchange control'? Answer Explain the various methods of exchange control. Answer

or

      Discuss the impact of various Export and Import (EXIM) policies on Indian Economy. Answer

(d) Explain the main features of World Trade Organisation. Answer

or

     Define 'greenfield investment' Answer its advantages and disadvantages. Answer

(Greenfield investment also know as foreign direct investment)

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