Question

Please solve the final answer for all following 10 multiple choice questions

1. When countries join together to form a trade bloc with special relationships among the members, it is called

O Association of countries

O Group of countries

O Preferential trade arrangement

O Union of countries

2. There are different forms of Preferential Trade Agreement (PTA) around the world. The Economic and Monetary Union type of PTA is found in:

O Southern Asia

O Western Europe

O The GCC

O The Middle East

3. Gulf Cooperation Council (GCC) is a political and economic alliance of six Middle Eastern countries. Which statement is not correct about the GCC?

O Its purpose is to achieve unity among its members based on their common objectives and their similar political and cultural identities

O GCC was established in May 1981 in Abu Dhabi, the United Arab Emirates

O One of the objectives of GCC is formulating similar regulations in various fields such as religion, finance, trade, customs, tourism, etc.

O The objectives of GCC includes collaboration among members in scientific and technical progress in industry, mining, agriculture, water and animal resources

O All of the above are true

4. The difference between the buying and selling price of currencies is called:

O Ask

O Bid

O Spread

O Ask and Bid

O Exchange rate of currencies

5. The achievement of a quality of life for the average citizen of a country that is comparable to that enjoyed by the average citizen of modern economies reflects:

O Economic development

O Economic growth

O Population growth

O Neither economic growth nor economic development

6. Which PTA (preferential trade agreement) is the largest exporter and importer in the world trade?

0 The GCC

O The North American Free Trade Area (USA, Mexico, Canada)

O The Europe Union (EU)

O Japan

O China

7. Why do the UAE Free Trade Zones become attractive for foreign capital investors and business people?

O Absence of tariff and other trade barriers in the free trade zone

O Possibility of 100% foreign capital ownership in the FTZ

O Possibility of full repatriation of business profits

O All of the above

O A and B

8. After the end of the second World War, trade barriers have fallen and international trade has grown rapidly due to:

O Multilateral trade talks sponsored by the GATI (General Agreement on Trade and Tariff)

O Increase in preferential trade agreements or arrangements (PTA) between countries

O A and B above

O No reasons

9. which one is the advantage of Primary Export-led Development Strategy followed by countries?

O It encourages more intensive use of existing or abundant resources of a country

O It helps in attracting foreign investment flow into a country

O It may provide linkage effects or benefits to other industries of a country as a result expansion of the export-oriented industry

O All of the above

O A and B only

10. ___________is the movement or shifting of a production by a firm to a foreign location.

O Multinational corporation

O Outsourcing

O Importing and exporting

O Migration of companies

Answer 1

1st question

Correct answer is Preferential trade arrangement

2nd question

Correct answer is Western Europe

2nd question

Correct answer is All of the above are true

All the options mentioned above are true about GCC

4th question

Correct answer is Spread

difference between the buying and selling price of currencies is called bid-ask spread