Consider the following statements: 1. WTO uses the factors of trade and the level of economic development of a country as the criteria for making a distinction between a developed and a developing country member. 2. World Bank uses per capita income as the criteria to classify countries as developed and developing countries. Which of the above statements is/are incorrect?

Consider the following statements : 1. India has ratified the Trade Facilitation Agreement (TFA) of WTO. 2. TFA is a part of WTO’s Bali Ministerial Package of 2013. 3. TFA came into force in January…

With reference to the "G20 Common Framework", consider the following statements: 1. It is an initiative endorsed by the G20 together with the Paris Club. 2. It is an initiative to support Low Income…

Why is the offering of “teaser loans” by commercial banks a cause of economic concern ? 1. The teaser loans are considered to be an aspect of sub-prime lending and banks may be exposed to the risk of…

Consider the following agreements : I. ISLFTA (India-Sri Lanka Free Trade Agreement) II. SAFTA (South Asian Free Trade Area) III. CECA (Comprehensive Economic Cooperation Agreement between India and…

Consider the following statements about ‘Rules of Origin’ : 1. Rules of Origin are the criteria needed to determine the national source of a product. 2. Rules of Origin help the custom agencies to kn…