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    GBA Unit 1 WTO MCQ

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    harsh vardhan
    The document contains 35 multiple choice questions about the World Trade Organization (WTO). It tests knowledge about when the WTO came into effect, its membership size, headquarters location, objectives, leadership, and other key details. The questions cover topics like the components and functions of the WTO, differences in its application worldwide, and its role relative to other international economic organizations.

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    GBA Unit 1 WTO MCQ

    Uploaded by

    harsh vardhan
    473 views4 pages
    The document contains 35 multiple choice questions about the World Trade Organization (WTO). It tests knowledge about when the WTO came into effect, its membership size, headquarters location, objectives, leadership, and other key details. The questions cover topics like the components and functions of the WTO, differences in its application worldwide, and its role relative to other international economic organizations.

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    GBA-Unit-1-WTO-MCQ

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    The document contains 35 multiple choice questions about the World Trade Organization (WTO). It tests knowledge about when the WTO came into effect, its membership size, headquarters location, objectives, leadership, and other key details. The questions cover topics like the components and functions of the WTO, differences in its application worldwide, and its role relative to other international economic organizations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    473 views4 pages

    GBA Unit 1 WTO MCQ

    Uploaded by

    harsh vardhan
    The document contains 35 multiple choice questions about the World Trade Organization (WTO). It tests knowledge about when the WTO came into effect, its membership size, headquarters location, objectives, leadership, and other key details. The questions cover topics like the components and functions of the WTO, differences in its application worldwide, and its role relative to other international economic organizations.

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    © All Rights Reserved
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    Dewan Institutes of Management Studies, Meerut

    BBA- 5th Semester


    General Business Awareness-BBA-503
    Topic- WTO
    Q.1 When did the World Trade Organization come into effect?
    (a)) March 6, 1996 (b) April 8, 1994 (c) February 5, 1994 (d) January 1, 1995
    Q.2 How many members are present in the WTO?
    (a) 207 (b) 195 (c) 160 (d) 164
    Q.3 Where is the headquarters of the WTO located?
    (a) Austria (b) Geneva (c) New York (d) Washington DC
    Q.4 Which of these institutions is not a part of the World Bank community?
    (a) IFC (b) IDA (c) WTO (d) IBRD
    Q.5 Along with the World Bank and __________________, WTO is the third economic pillar of
    worldwide dimensions.
    (a) International Economic Association (IEA)
    (b) International Monetary Funds (IMF)
    (c) International Development Bank (IDB)
    (d) International Funding Organisation (IFO)
    Q.6 Which of the following statements is false?
    (a) India’s vote share in the International Monetary Fund is 10%.
    (b) Both the IMF and the IBRD have headquarters in Washington.
    (c) The IBRD is also known as the World Bank.
    (d) Both the IMF and the World Bank are known as the Bretton Woods twins.
    Q.7 Among the following options, which one is not the objective of the WTO?
    (a) To protect environment
    (b) To improve the balance of payment situation of the member countries
    (c) To improve the standard of living of people of the member countries
    (d) To enlarge production and trade of goods
    Q.8 Who is the current Director-General of WTO?
    (a) Pascal Lamy (b) Mahmoud Riad (c) Chedli Klibi (d) Roberto Azevêdo
    Q.9 TRIPS (Trade-Related Aspects of Intellectual Property Rights) agreement is administered
    by the _______ .
    (a) World Bank (WB) (b) United Nations Organization (UNO)
    (c) World Trade Organization (WTO) (d) United Nations Conference on Trade and Development
    (UNCTAD)
    Q.10 Who is most recently appointed as the Ambassador and Permanent Representative of
    India to WTO?
    (a) JS Deepak (b) TS Deepak (c) Anwar Hussain Shaik (d) Brajendra Navnit
    Q.11 What are the three key ‘components’ of the WTO?

    (a) A Senate, a Judiciary and a Directorate

    (b) A Trade Commission, a Dispute Settlement Body and a Council of Ministers

    (c) An Executive apparatus, a Legislative apparatus and an Enforcement apparatus

    (d) A Board of Governors, the Assembly of Member States and a Steering Committee

    Q 12. Does the WTO apply its framework in exactly the same fashion throughout the world?

    (a) Yes, the WTO applies its framework in exactly the same way throughout the world

    (b) Yes, the WTO applies its framework in exactly the same way around the world, unless it deals
    with trade blocks

    (c) No, the WTO makes allowance for regional variation

    (d) No, the WTO makes allowance for variation in the case of economically stronger countries

    Q. 13 What are the two main functions of the WTO?

    (a) The promotion of free trade and economic liberalism

    (b) The administration of the WTO agreements and the resolution of international trade disputes

    (c) The promotion of world peace, economic stability and financial co-operation

    (d) The administration of the WTO’s institutional framework and the promotion of economic co-
    operation amongst its members

    Q. 14 theoretically, what is the most significant organ of the WTO?

    (a) The Committee on Trade and Development (b)The Council for Trade in Goods

    (c) The General Council (d) The Ministerial Conference

    Q 15 Practically, what is the most significant organ of the WTO?

    (a) The Committee on Trade and Development (b) The Council for Trade in Goods

    (c) The General Council (d) The Ministerial Conference

    Q 16 Where is provision made with regard to the WTO’s institutional arrangements?

    (a) In the WTO Agreement (b) In the GATT

    (c) In the UN Charter (d) In the WTO Agreement on Subsidies and Countervailing Measures In the
    WTO Agreement
    Q 17-Economic nationalism is a term used to describe policies which are guided by the idea of
    protecting domestic

    (A) Consumption (B) Labour (C) Capital formation (D) all of the above

    Q 18-General Agreement on Tariffs and Trade (GATT) agreement covers the following basic
    element(s):

    (A) Protection shall be afforded to domestic industries through customs tariffs, not through such
    commercial measures as import quotas

    (B) Trade shall be conducted on a non-discriminatory basis

    (C) Consultation shall be the primary method used to solve global trade problems

    (D) all of the above

    Q 19--WTO stands for

    (A) World Trade Organisation (B) World Trade Opportunities

    (C) World Trade Operation (D) None of the above

    Q 20-Developing countries make up about ___ of the total WTO membership.

    (A) Quarter (B) Half (C) three quarters (D) 90%

    Q 21-Headquarters of WTO is situated at

    (A) Geneva (B) Paris (C) London (D) New York

    Q 22-International Trade Centre was established by WTO in

    (A) 1960 (B) 1964 (C) 1968 (D) 1972

    Q 23-WTO agreements include

    (A) Goods (B) Services (C) Intellectual property (D) All of the above

    Q 24-WTO has an objective of reducing tariffs to

    (A) Maximum (B) Minimum (C) Zero (D) None of the above

    Q 25-The present WTO system is based on the

    (A) Paraguay Round Agreements (B) Uruguay Round Agreements

    (C) Argentina Round Agreements (D) Brazil Round Agreements

    Q 26-GATS stand for

    (A) The General Agreement on Trade in Service (B) The General Agreement on Trade and Safety

    (C) The General Agreement on Trade and Standard (D) None of the above
    Q 27-TRIPS provide adequate protection of intellectual property in the following categories:

    (A) Copyrights (B) Trademarks (C) Patents (D) All of the above

    Q 28-Selling the product at below the on-going market price and/or at the price below the cost
    of production, is known as

    (A) Dumping (B) Removal (C) Discarding (D) Throwing away

    Q 29-Day-to-Day work in between the ministerial conferences is handled by

    (A) The General Council (B) The Dispute Settlement Body

    (C) The Trade Policy Review Body (D) All of the above

    Q 30-The following council(s) report to the General Council

    (A) Goods Council (B) Services Council (C) TRIPS Council (D) All of the above

    Q 31-Following is (are) advantage(s) of joining WTO

    (A) Freer trade cuts the costs of living

    (B) Free trade reduces the manufacturing cost

    (C) Governments are shielded from lobbying

    (D) All of the above

    Q 32-GATT was a forum for member countries to

    (A) Negotiate a reduction of tariffs (B) Remove barriers to trade

    (C) Both (A) and (B) (D) None of the above

    Q 33-Developing countries make up about ___ of the total WTO membership.

    (A) One half (B) Two third (C) three quarters (D) one third

    Q 34-Following is the function(s) of World Trade Organization (WTO).

    (A) Specialized Help for Export (B) Global Economic Policy Making

    (C) Helping Developing and Transition Economies D) all of the above

    Q 35-International Trade Centre was operated by

    (A) World Trade Centre (WTO) (B) United Nations

    (C) Jointly by WTO and United Nations (D) IMF

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