UGC NET ECONOMICS · 2023 · UNIT 5
International Economics PYQs
अंतरराष्ट्रीय अर्थशास्त्र के प्रश्न
June2023 · 20June2023 · ShiftI
जून2023 · 20जून2023 · पालीI
Trade policy and integration
व्यापार नीति और एकीकरण
Question 1 / प्रश्न 1
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The Uruguary Round of trade negotiations called for A. the reduction of average tariffs on industrial goods B. quotas to be replaced by tariffs C. the reduction in agriculture export subsidies D. the reduction in industrial subsidies. E. antidumping and safeguards to be relaxed
Uruguay Round में: A industrial tariffs घटाना; B quotas की जगह tariffs; C agricultural export subsidies घटाना; D industrial subsidies discipline; E antidumping/safeguards ढीले करना।
(a) A, B, C, D केवल
(b) B, C, D, E केवल
(c) C, D, E, A केवल
(d) D, E, A, B केवल
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) A, B, C, D केवल
Explanation: Tariff cuts, agricultural tariffication, and subsidy disciplines were central; general relaxation of safeguards was not.
व्याख्या: A–D intended reforms हैं। Uruguay agreements ने agricultural tariffication, subsidy disciplines और industrial tariff cuts किए। Antidumping/safeguards को सामान्य रूप से relax करना उद्देश्य नहीं था।
Question 47 / प्रश्न 47
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Arrange the following in ascending order on the basis of degree of economic intergration. A. Custom Union B. Free Trade Area C. Economic Union D. Common Market E. Preferential Trade Arrangements
Integration ascending: A customs union; B FTA; C economic union; D common market; E preferential arrangement।
(a) A, B, C, D, E
(b) B, C, D, A, E
(c) E, A, B, C, D
(d) E, B, A, D, C
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (d) E, B, A, D, C
Explanation: Integration deepens from preferences through FTA, customs union, common market, to economic union.
व्याख्या: Preference → FTA internal free trade → customs union common external tariff → common market factor mobility → economic union policy coordination। क्रम E B A D C।
Question 52 / प्रश्न 52
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Here is given international orgainsations and their headquarters. Which of the following are correct combinations of the institutions and their headquarters. A. GATT: Geneva B. IMF: Washington DC C. World Bank: Washington DC D. International Development Association (IDA): New York E. Asian Development Bank: Mandaluyong
Headquarters सही: A GATT Geneva; B IMFWashington; C World Bank Washington; D IDANew York; E ADBMandaluyong।
(a) A, B और C केवल
(b) A और B केवल
(c) C और D केवल
(d) A, B, C और E केवल
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (d) A, B, C और E केवल
Explanation: IDA is headquartered in Washington, not New York; the other four locations are correct.
व्याख्या: A B C E सही। IDA World Bank Group का हिस्सा है और Washington DC में स्थित है, New York नहीं। GATT historical secretariat Geneva था।
Question 61 / प्रश्न 61
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A tariff ridden offer curve will bend towads,
Import tariff लगाने से offer curve किस axis कीओर मुड़ती है?
(a) Importgoodaxis।
(b) Exportgoodaxis।
(c) Originonly।
(d) किसी कीभीओर।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) Importgoodaxis।
Explanation: With exports horizontal, a tariff bends the offer curve toward the import axis.
व्याख्या: Tariff देश को given imports के बदले fewer exports offer करने को प्रेरित करता है; same exports के लिए higher imports चाहिए। Exports-horizontal/imports-vertical convention में curve import axis की ओर shifts/bends करती है।
Question 86 / प्रश्न 86
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Give below are two statements: One is labelled as Assertion A and the other is labelled as Reason R: Assertion (A): If governments do not care about protectionists' rents, they would replace all import duties with sales taxes. Reason (R): Sales tax is more efficient means of raising revenue than import tariff. In light of the above statements,
Assertion: protection rents नचाहनेपर tariffs कीजगह sales tax; Reason: revenue के लिए uniform sales tax less distorting।
(a) दोनों सही और reasonexplanation।
(b) दोनों सही पर explanation नहीं।
(c) A सही R गलत।
(d) A गलत R सही।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: usual benchmark में
Explanation: A broad consumption tax avoids the production distortion of a small-country revenue tariff, under the stated assumptions.
व्याख्या: Tariff consumption और domestic production दोनों distort करता है; equivalent non discriminatory consumption tax production protection हटाता है। Optimal-tariff terms-of-trade power, externalities या administration cost हों तो “all tariffs” replacement unconditional policy theorem नहीं।
Balance of payments and exchange rates
भुगतान संतुलन और विनिमय दर
Question 26 / प्रश्न 26
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A foreign exchange swap is
Foreign-exchange swap की सही description?
(a) Spotpurchase और उसी currency की forwardrepurchase।
(b) Spotsale और forwardrepurchase।
(c) Forwardmarket में sale/purchaseonly।
(d) केवल spotpurchase।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (b) Spotsale और forwardrepurchase।
Explanation: An FXswap combines opposite spot and forward legs, such as spot sale plus forward repurchase.
व्याख्या: FXswap में opposite-direction spot और forward legs साथ होते हैं। Spot sale+forward buyback valid है। Spot purchase हो तो opposite leg forward sale होगा, repurchase नहीं।
Question 56 / प्रश्न 56
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In which of the following year IMF has set up the Extended Fund Facility (EFF) to support member's structural reforms to address balance of payment difficulties of a long term character.
IMF Extended Fund Facility किस वर्ष स्थापित हुई?
(a) 1974
(b) 1997
(c) 1963
(d) 2009
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) 1974
Explanation: The IMF established EFF in 1974for longer-term structural BOP problems.
व्याख्या: EFF 1974 में longer-term structural BOP problems के लिए बनी। Stand by arrangements के short-term stabilisation focus से इसका horizon अलग है।
Question 62 / प्रश्न 62
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Which of the following statements are correct about trilemma in monetary policy A. It is related to closed economy model. B. It involves exchange rate, capital mobility and monetary policy. C. It arises because perfect capital mobility aligns the domestic interest rate to the world interest rate. D. Flexible exchange rate is not compatible with independent monetary policy. E. It is related to capital immobility and flexible exchange rate.
Trilemma: A closed model; B FX/mobility/monetary policy; C mobility aligns interest; D floating FX monetary independence in compatible; E capital immobility/floating only।
(a) B और C केवल
(b) C और D केवल
(c) A और D केवल
(d) B और E केवल
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) B और C केवल
Explanation: The trilemma concerns exchange rates, capital mobility, and monetary autonomy; floating rates can permit autonomy.
व्याख्या: B, C core logic हैं। With fixed FX+free capital flows interest parity monetary autonomy रोकती है। Floating FX के साथ monetary independence compatible है, इसलिए D false।
Trade theories
व्यापार सिद्धांत
Question 40 / प्रश्न 40
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Factor price equalization theorem is given by,
Factor-price equalisation theorem का formal development?
(a) David Ricardo
(b) J. S. Mill
(c) Paul Samuelson
(d) Adam Smith
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (c) Paul Samuelson
Explanation: Samuelson formalised factor-price equalisation under the required trade-model assumptions.
व्याख्या: Paul Samuelson ने H–O framework में theorem formalise किया। Common technology, diversification, free goods trade और suitable assumptions पर goods price equalisation factor prices equalise कर सकती है।
Question 59 / प्रश्न 59
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Give below are two statements: Statement I: The terms of trade of a nation are defined as the ratio of the cost of its export commodity to the price of its import commodity. Statement II: The terms of trade of the trade partner are equal to the inverse of the terms of trade of the other nation. In light of the above statements,
I TOT export COST/import PRICE है; II two-country two-good partner TOT reciprocal है।
(a) दोनों सही।
(b) दोनों गलत।
(c) I सही, II गलत।
(d) I गलत, II सही।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (d) I गलत, II सही।
Explanation: Net barter terms use export prices, not costs; reciprocity requires the two-country/two-good setting.
व्याख्या: Net barter TOT export PRICE/import PRICE है, production cost ratio नहीं। Two-country two-good setting में दूसरी nation reciprocal ratio देखती है। Multilateral indices के लिए automaticreciprocity नहीं।