16. The international monetary system that existed from 1947 to 1971 is generally known as the
Par value system
Pegged exchange rate system
Bretton Woods system
Both (A) and (B)
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17. Following the Uruguay Round Agreement, GATT was converted from a provisional agreement into WTO with effect from
January 1, 1994
April 1, 1994
January 1, 1995
March 1, 1995
18. What did the Multifibre Arrangements (MFA) restrict?
Imports of textiles to developed economies
Exports of cotton to undeveloped economies
Imports of cotton to developed economies
Exports of jute to developed economies.
19. In the trade between the two countries, the gains are divided between nations in a way that depends on whose
Exports are expensive
Imports are cheaper
Price ratio changes more
20. The demand effect of economic development refers to the
Increase in demand for imports
Increase in demand for exports
The decrease in supply of imports
The decrease in supply of exports
UGC NET PAPER 1
UGC NET Management
UGC NET COMPUTER SCIENCE
UGC NET COMMERCE
GATE COMPUTER SCIENCE
CFA Level 1
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