Free trade area
Common market
Custom union
Economic community
Correct answer is C
A customs union is generally defined as a type of trade bloc which is composed of a free trade area with a common external tariff. Customs unions are established through trade pacts where the participant countries set up common external trade policy (in some cases they use different import quotas).
One of the physical measures that can be used to reduce the volume of imports is the
Reduction of personnel income tax
Removal of imports duties
Use of foreign exchange control
Liberalization of credit for importers
Correct answer is C
Foreign exchange control is the procedure by which a government intervenes in the foreign exchange market, banning or restricting sales and purchases of local currencies by non-residents as well as sales and purchases of foreign currencies by residents. When there is no foreign exchange to engage in international trade, imports will fall.
When the international value of a country's currency rises, other things being equal, the country's
Net exports tend to increase
Imports tend to increase
Net exports tend to decrease
Export tend to be stable
Correct answer is A
No explanation has been provided for this answer.
Balance of payment surplus implies that receipts for exports are
At par with payments for imports
Greater than payment for imports
Less than payment for imports
Proportional to payments for imports
Correct answer is B
BALANCE OF PAYMENTS SURPLUS: An imbalance in a nation's balance of payments in which payments made by the country are less than payments received by the country (exports exceeds imports). It's considered favorable because more currency is flowing into the country than is flowing out.
Property taken from enemy force without fighting in battle is
Ghanimah
Fay
Dara'ils
warf
Correct answer is B
No explanation has been provided for this answer.