Multiple-choice questions and answers on Issues relating to India's Economic Interaction with the World:
1. What is the primary objective of India's foreign trade policy?
A) To increase exports
B) To reduce imports
C) To promote economic growth
D) To achieve self-sufficiency
Answer: C) To promote economic growth
1. Which of the following is a major challenge facing India's foreign trade?
A) Tariff barriers
B) Non-tariff barriers
C) Competition from other countries
D) All of the above
Answer: D) All of the above
1. What is the role of the World Trade Organization (WTO) in promoting international trade?
A) To set tariffs and quotas
B) To provide a framework for trade negotiations
C) To resolve trade disputes
D) All of the above
Answer: D) All of the above
1. Which of the following is a major source of foreign investment in India?
A) Foreign Direct Investment (FDI)
B) Foreign Institutional Investment (FII)
C) External Commercial Borrowings (ECB)
D) All of the above
Answer: D) All of the above
1. What is the purpose of the International Monetary Fund (IMF)?
A) To provide loans to countries facing balance of payments problems
B) To promote international trade
C) To provide a framework for international monetary cooperation
D) All of the above
Answer: D) All of the above
1. Which of the following is a major issue relating to oil and gas flows in India?
A) Energy security
B) Environmental concerns
C) Pricing and taxation
D) All of the above
Answer: D) All of the above
1. What is the role of the World Intellectual Property Organization (WIPO) in promoting intellectual property rights?
A) To provide a framework for international cooperation on intellectual property
B) To promote the use of intellectual property rights
C) To resolve disputes related to intellectual property
D) All of the above
Answer: D) All of the above
1. Which of the following is a major benefit of foreign investment in India?
A) Increased economic growth
B) Improved technology
C) Increased employment
D) All of the above
Answer: D) All of the above
1. What is the purpose of the World Bank?
A) To provide loans to countries for development projects
B) To promote international trade
C) To provide a framework for international monetary cooperation
D) All of the above
Answer: A) To provide loans to countries for development projects
1. Which of the following is a major challenge facing India's economic diplomacy?
A) Negotiating trade agreements
B) Promoting Indian exports
C) Attracting foreign investment
D) All of the above
Answer: D) All of the above
1. What is the role of the Reserve Bank of India (RBI) in regulating foreign exchange transactions?
A) To set exchange rates
B) To regulate foreign exchange markets
C) To provide foreign exchange to importers
D) All of the above
Answer: B) To regulate foreign exchange markets
1. Which of the following is a major benefit of India's membership in the World Trade Organization (WTO)?
A) Increased access to foreign markets
B) Improved trade dispute resolution mechanisms
C) Increased foreign investment
D) All of the above
Answer: D) All of the above
1. What is the purpose of the Foreign Exchange Management Act (FEMA)?
A) To regulate foreign exchange transactions
B) To promote foreign investment
C) To regulate foreign trade
D) All of the above
Answer: A) To regulate foreign exchange transactions
1. Which of the following is a major challenge facing India's foreign trade policy?
A) Tariff barriers
B) Non-tariff barriers
C) Competition from other countries
D) All of the above
Answer: D) All of the above
1. What is the role of the Ministry of Commerce and Industry in promoting India's foreign trade?
A) To negotiate trade agreements
B) To promote Indian exports
C) To regulate foreign trade
D) All of the above
Answer: D) All of the above
1. Which of the following is a major benefit of India's economic integration with the world?
A) Increased economic growth
B) Improved technology
C) Increased employment
D) All of the above
Answer: D) All of the above
1. What is the purpose of the International Monetary Fund (IMF)?
A) To provide loans to countries facing balance of payments problems
B) To promote international trade
C) To provide a framework for international monetary cooperation
D) All of the above
Answer: D) All of the above
1. Which of the following is a major challenge facing India's foreign investment policy?
A) Attracting foreign investment
B) Regulating foreign investment
C) Promoting Indian exports
D) All of the above
Answer: A) Attracting foreign investment
1. What is the role of the Securities and Exchange Board of India (SEBI) in regulating foreign portfolio investment?
A) To set rules for foreign portfolio investment
B) To regulate foreign institutional investors
C) To provide a framework for foreign portfolio investment
D) All of the above
Answer: D) All of the above
1. Which of the following is a major benefit of India's membership in the World Trade Organization (WTO)?
A) Increased access to foreign markets
B) Improved trade dispute resolution mechanisms
C) Increased foreign investment
D) All of the above
Answer: D) All of the above
1. What is the purpose of the Foreign Trade Policy (FTP) of India?
A) To promote Indian exports
B) To regulate foreign trade
C) To provide a framework for foreign trade
D) All of the above
Answer: D) All of the above
1. Which of the following is a major challenge facing India's economic diplomacy?
A) Negotiating trade agreements
B) Promoting Indian exports
C) Attracting foreign investment
D) All of the above
Answer: D) All of the above
1. What is the role of the Reserve Bank of India (RBI) in regulating foreign exchange transactions?
A) To set exchange rates
B) To regulate foreign exchange markets
C) To provide foreign exchange to importers
D) All of the above
Answer: B) To regulate foreign exchange markets
1. Which of the following is a major benefit of India's economic integration with the world?
A) Increased economic growth
B) Improved technology
C) Increased employment
D) All of the above
Answer: D) All of the above
1. What is the purpose of the International Monetary Fund (IMF)?
A) To provide loans to countries facing balance of payments problems
B) To promote international trade
C) To provide a framework for international monetary cooperation
D) All of the above
Answer: D) All of the above
1. Which of the following is a major challenge facing India's foreign trade policy?
A) Tariff barriers
B) Non-tariff barriers
C) Competition from other countries
D) All of the above
Answer: D) All of the above
1. What is the role of the Ministry of Commerce and Industry in promoting India's foreign trade?
A) To negotiate trade agreements
B) To promote Indian exports
C) To regulate foreign trade
D) All of the above
Answer: D) All of the above
1. Which of the following is a major benefit of foreign investment in India?
A) Increased economic growth
B) Improved technology
C) Increased employment
D) All of the above
Answer: D) All of the above
1. What is the purpose of the Foreign Investment Promotion Board (FIPB)?
A) To promote foreign investment in India
B) To regulate foreign investment in India
C) To provide a framework for foreign investment in India
D) All of the above
Answer: D) All of the above
1. Which of the following is a major challenge facing India's economic diplomacy?
A) Negotiating trade agreements
B) Promoting Indian exports
C) Attracting foreign investment
D) All of the above
Answer: D) All of the above
1. What is the role of the World Trade Organization (WTO) in promoting international trade?
A) To set tariffs and quotas
B) To provide a framework for trade negotiations
C) To resolve trade disputes
D) All of the above
Answer: D) All of the above
1. Which of the following is a major benefit of India's membership in the World Trade Organization (WTO)?
A) Increased access to foreign markets
B) Improved trade dispute resolution mechanisms
C) Increased foreign investment
D) All of the above
Answer: D) All of the above
1. What is the purpose of the International Monetary Fund (IMF)?
A) To provide loans to countries facing balance of payments problems
B) To promote international trade
C) To provide a framework for international monetary cooperation
D) All
1. Which of the following is a major challenge facing India's foreign trade policy?
A) Tariff barriers
B) Non-tariff barriers
C) Competition from other countries
D) All of the above
Answer: D) All of the above
1. What is the role of the Ministry of Commerce and Industry in promoting India's foreign trade?
A) To negotiate trade agreements
B) To promote Indian exports
C) To regulate foreign trade
D) All of the above
Answer: D) All of the above
1. Which of the following is a major benefit of foreign investment in India?
A) Increased economic growth
B) Improved technology
C) Increased employment
D) All of the above
Answer: D) All of the above
1. What is the purpose of the Foreign Investment Promotion Board (FIPB)?
A) To promote foreign investment in India
B) To regulate foreign investment in India
C) To provide a framework for foreign investment in India
D) All of the above
Answer: D) All of the above
1. Which of the following is a major challenge facing India's economic diplomacy?
A) Negotiating trade agreements
B) Promoting Indian exports
C) Attracting foreign investment
D) All of the above
Answer: D) All of the above
1. What is the role of the World Trade Organization (WTO) in promoting international trade?
A) To set tariffs and quotas
B) To provide a framework for trade negotiations
C) To resolve trade disputes
D) All of the above
Answer: D) All of the above
1. Which of the following is a major benefit of India's membership in the World Trade Organization (WTO)?
A) Increased access to foreign markets
B) Improved trade dispute resolution mechanisms
C) Increased foreign investment
D) All of the above
Answer: D) All of the above
1. What is the purpose of the International Monetary Fund (IMF)?
A) To provide loans to countries facing balance of payments problems
B) To promote international trade
C) To provide a framework for international monetary cooperation
D) All of the above
Answer: D) All of the above
1. Which of the following is a major challenge facing India's foreign exchange management?
A) Managing exchange rates
B) Regulating foreign exchange transactions
C) Maintaining foreign exchange reserves
D) All of the above
Answer: D) All of the above
1. What is the role of the Reserve Bank of India (RBI) in regulating foreign exchange transactions?
A) To set exchange rates
B) To regulate foreign exchange markets
C) To provide foreign exchange to importers
D) All of the above
Answer: B) To regulate foreign exchange markets
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