Finance B.Com 5th Semester-International Trade (2014)
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GAUHATI UNIVERSITY
COMMERCE
PAPER - INTERNATIONAL TRADE (INT)(FIN)
B.Com 5th Sem (2014)
1.(A) Choose the correct answer: (1x5=5)
(i) Which of the following is/are the assumptions made by the theory of comparative advantage?
(a) Full employment
(b) Constant returns to scale
(c) The mobility of labor with a country.
(d) All of the Above.
(ii) Which of the following is a non-tariff barrier to international trade?
(a) Embargo
(b) Export Duty
(c) Counter Valling Duty
(d) Both a and b of the above.
(iii) Which of the following is not true with regard to 'Free Trade Area'?
(a) Tariffs are removed from trade among member countries.
(b) Each member country retains the right to set its own tariff to outsiders (non-member-countries)
(c) It is a form of trading bloc where the level of economic integration is high.
(d) All of the Above.
(iv) A company of US has an excess product that it does not want to sell in its own domestic market because it will bring down the domestic price and instead sells it in another country at below the cost of production. What is this called?
(v) If the UK placed a limit on the amount of steel that could be imported into the UK in a particular period, this would be an example of:
1.(B) Answer the following is one sentence each: (1x5=5)
(i) Write the full form of UNCTAD,
(ii) What is 'Duty Entitlement Pass Book'
(iii) Give any two examples of non-tariff barriers to international trade.
(iv) Define Marine Insurance.
(v) What is Balance of Trade?
(b) Each member country retains the right to set its own tariff to outsiders (non-member-countries)
(c) It is a form of trading bloc where the level of economic integration is high.
(d) All of the Above.
(iv) A company of US has an excess product that it does not want to sell in its own domestic market because it will bring down the domestic price and instead sells it in another country at below the cost of production. What is this called?
(v) If the UK placed a limit on the amount of steel that could be imported into the UK in a particular period, this would be an example of:
1.(B) Answer the following is one sentence each: (1x5=5)
(i) Write the full form of UNCTAD,
(ii) What is 'Duty Entitlement Pass Book'
(iii) Give any two examples of non-tariff barriers to international trade.
(iv) Define Marine Insurance.
(v) What is Balance of Trade?
2. Answer the following in about 50 words each: (2x5=10)
(a) State the meaning of Foreign Exchange as defined as under FEMA.
(b) What is the purpose of 'most favored nation' clause of GATT?
(c) What do you mean by 'Greenfield investment'?
(d) What is a Revocable Letter of Credit?
(e) Define the term 'Embargo'.
3. Answer any four of the following is about 150 words each: (4x5=20)
(a) Explain the meaning of 'Terms of Trade'.
(b) How is the exchange rate of the two countries determined under the Purchasing Power
Parity Theory?
(c) State the demerits of Foreign Exchange Control.
(d) Write a short note on GATS.
(e) What are the functions of ASEAN?
(f) Discuss the benefits of a country derives from importing.
4.Answer the following in about 600 words each: (10x4=40)
(a) Explain the basic differences between International Trade & Domestic Trade.
or
Discuss the Heckscher Ohlin theory of international trade and its limitations.
(b) What do you mean by tariff? Discuss the various effect of a tariff.
or
Enumerate the role of Export and Import Bank of India is promoting international trade.
(c) Give a brief account of various agencies which are helping in international trade.
(d) Explain the functions of UNCTAD (United Nations Conference on Trade and Development). How far it has been able in promoting trade development of less developing countries.
or
(a) State the objectives of forming trading blocs. How do trading blocs help in promoting international trade? discuss.
(b) What are the causes of changes in the exchange rate of two currencies? Discuss.
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