701. The Theory of Absolute Cost Advantage is given by ______
A. David Ricardo
B. Adam Smith
C. F W Taylor
D. Ohlin and Heckscher
702. The Theory of Relative Factor Endowments is given by ______.
A. David Ricardo
B. Adam Smith
C. F W Taussig
D. Ohlin and Hecksher
703. The theory of comparative cost advantage is given by ______.
A. David Ricardo
B. Adam Smith
C. F W Taussig
D. Ohlin and Hecksher
704. Comparative Cost Trade Theory is given by ______
A. Adam Smith
B. David Ricardo
C. Gottfried Haberler
D. Heckscher Ohlin
705. ________ is the payment method most often used in International Trade which offers the exporter best assurance of being paid for the products sold internationally.
A. Bill of Lading
B. Letter of Credit
C. Open Account
D. Drafts
706. This is only a legal agreement and it is not an institution, but ______ is a permanent institution.
A. GATT, WTO
B. WTO, GATT
C.WTO, IMF
D. IMF, GATT
707. The WTO was established to implement the final act of Uruguay Round agreement of_______
A. MFA
B. GATT
C. TRIP’s
D. UNO
708. WTO stands for ______
A. World technology association
B. World time organization
C. World trade organization
D. World tourism organization
709. NAFTA stands for ______
A. North African trade association
B. North American free trade agreement
C. Northern Atlantic trade agreement
D. Northern association for trade
710. The main promoter of trade liberalization was ______.
A. GATT
B. NAFTA
C. CEPTA
D. CISA