Petroleum 'glut' in international trade means
A fall in petroleum production
An over supply of petroleum
A higher petroleum price offered by the buyer
A higher petroleum price demanded by the seller
Higher prices for the consumtion of petroleum
Correct answer is B
No explanation has been provided for this answer.
Disequilibrium in the balance of payment means
Imports of the country exceeding its exports
Overall deficit or surplus in the current account and capital account of the balance of payment
Capital flowing out of the country exceeds the capital flowing into the country
deficit in trade balance
Imports of the country exceeding its exports B. overall deficit or surplus in the current account and capital account of the balance of payment C. capital flowing out of the country exceeds the capital flowing into the country D. Huh E. export earnings exceed cost of imports
Correct answer is B
No explanation has been provided for this answer.
The meaning of 'Dumping' is selling goods in a foreign market
At a low price received in the home market
At a price higher than that recieved in the foreign market
At a price equal to the cost price in the home market
In order to encourage indigenous producers
At a price equal to the selling price in the home market
Correct answer is A
No explanation has been provided for this answer.
Comparative cost doctrine of international trade means specialization in production
According to absolute cost advantage
According to absolute cost disadvantage
According to comparative cost disadvantage
According to comparative cost advantage
On the basis of the availability of labour
Correct answer is D
No explanation has been provided for this answer.
A greater burden of the taxes on essential goods is borne by the
Middle income group
Higher income group
Lower income group
the middle and higher income groups
Top few richest people of the country
Correct answer is C
No explanation has been provided for this answer.