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31.

Foreign trade:

A.	Increases employment opportunities	B.	Increases international mobility of labour
C.	Increases competition	D.	All of the above

32.

Foreign trade:

A.	Benefits developed countries	B.	Benefits underdeveloped countries
C.	Benefits democratic countries	D.	Benefits all countries

33.

Foreign trade has the advantage:

A.	Trading countries get foreign exchange	B.	Can import scarce raw materials
C.	Can import machinery and technology	D.	(b) and (c) of above

34.

In foreign trade, Protection policy means:

A.	Restrictions on exports	B.	Restriction on transfer of foreign exchange
C.	Restrictions on imports	D.	All of the above

35.

If a country decreases the external value of its currency, it will affect:

A.	Volume of exports	B.	Volume of imports
C.	General price level	D.	All of the above

36.

The theory explaining trade between two countries is called:

A.	Comparative advantage	B.	Comparative bargain
C.	Comparative trade	D.	Comparative returns

37.

The theory explaining trade between two countries is called:

A.	Comparative disadvantage theory	B.	Comparative cost theory
C.	Comparative trade theory	D.	None of the above

38.

Trade between two countries takes place when:

A.	Cost ratios of commodities are equal	B.	Cost ratios of commodities are different
C.	Cost ratios of commodities are high	D.	Cost ratios of commodities are low

39.

David Ricardo presented the theory of international trade called:

A.	Theory of absolute advantage	B.	Theory of comparative advantage
C.	Theory of equal advantage	D.	Theory of total advantage

40.

Rich countries have deficit in their balance of payments:

A.	Sometimes	B.	Never
C.	Alternate years	D.	Always