________ was the predecessor organisation to World Trade Organisation (WTO).

1. International Bank for Reconstruction and Development (IBRD)
2. International Monetary Fund (IMF)
3. Reserve Bank of India (RBI)
4. General Agreement on Tariffs and Trade (GATT)

Opening up the economy to the economies of the world so that Indian economy can compute at international level is called:

1. Liberalisation.
2. Globalisation.
3. Privatisation.
4. None of the above.

How many countries are members of WTO at present?

1. 190
2. 156
3. 153
4. 180

___________ refers to an electronic device that allows an individual to make financial transactions electronically.

1. e-wallets.
2. Plastic cards.
3. Cheques.
4. None of the above.

How many industries still need license for its operations?

1. 4
2. 6
3. 8
4. 10

TRIPS stands for:

1. Tariff and Revenue for Indian Policies for Stabilisation.
2. Trade Related Intellectual Property Rights.
3. Tariff and Revenue for Indian Policy Strategy.
4. Trade related Indian Property Rights.

Which is the latest tax introduced by the government of India? (Choose the correct alternative):

1. Goods and Services tax.
2. Value-added tax.
3. Service tax.
4. Corporation tax.

Name the Finance Minister who took a decision to introduce reforms in India.

1. P. Chiambaram.
2. Narsimha Rao.
3. Dr. Manmohan Singh.
4. Arun Jetli.

In order to facilitate privatisation, which of the following policies were adopted?

1. Policies were made liberal for private sector.
2. Taxfree advantage were given.
3. Private vector were given free capital.
4. Both (b) and (c).

Which duty has been removed to increase the competitive position of Indian goods in the international markets?

1. Custom duty.
2. Export duty.
3. Import duty.
4. None of the above.