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Question 1 of 5
1. Question
1 points
In which of the following parameters of the World Bank's Ease of Doing Business report, India continues to trail for the last five years?
Ease of starting business
Enforcing contracts
Paying taxes
Protecting minority investors
Select the correct answer using the code given below:
Correct
India has made substantial gains in the World Bank’s Doing Business rankings from 142 in 2014 to 63 in 2019. It has progressed on seven out of the 10 parameters. The Goods and Service Tax (GST) and the Insolvency and Bankruptcy Code (IBC) top the list of reforms that have propelled India’srise in rankings.
India continues to trail in parameters such as Ease of Starting Business (rank 136), Registering Property (rank 154), Paying Taxes (rank 115), and Enforcing Contracts (rank 163). Enforcing contracts is one parameter in which India’s performance has been very poor over the years.
While India takes 1,445 days to resolve an average dispute, New Zealand takes approximately one-seventh of it, i.e., 216 days.
The trajectory of India’s performance over the last decade:
Incorrect
India has made substantial gains in the World Bank’s Doing Business rankings from 142 in 2014 to 63 in 2019. It has progressed on seven out of the 10 parameters. The Goods and Service Tax (GST) and the Insolvency and Bankruptcy Code (IBC) top the list of reforms that have propelled India’srise in rankings.
India continues to trail in parameters such as Ease of Starting Business (rank 136), Registering Property (rank 154), Paying Taxes (rank 115), and Enforcing Contracts (rank 163). Enforcing contracts is one parameter in which India’s performance has been very poor over the years.
While India takes 1,445 days to resolve an average dispute, New Zealand takes approximately one-seventh of it, i.e., 216 days.
The trajectory of India’s performance over the last decade:
Question 2 of 5
2. Question
1 points
The term 'Four Asian Tigers' is often used to denote a group of Asian countries/regions for their high economic growth based on export-led growth policy. The group includes
China
South Korea
Hong Kong
Singapore
Japan
Taiwan
Select the correct answer using the code given below:
Correct
Due to high economic growth South Korea, Hong Kong, Singapore, and Taiwan are termed as Four Asian Tigers. These countries/administrative regions achieved high economic growth based on export-led growth policy. This export-led growth starting in the 1960s has given them the status of developed nations.
An export-led growth strategy is one where a country seeks economic development by opening itself up to international trade. Import substitution is the opposite of an export-led growth strategy where countries strive to become self-sufficient by developing their own industries.
Incorrect
Due to high economic growth South Korea, Hong Kong, Singapore, and Taiwan are termed as Four Asian Tigers. These countries/administrative regions achieved high economic growth based on export-led growth policy. This export-led growth starting in the 1960s has given them the status of developed nations.
An export-led growth strategy is one where a country seeks economic development by opening itself up to international trade. Import substitution is the opposite of an export-led growth strategy where countries strive to become self-sufficient by developing their own industries.
Question 3 of 5
3. Question
1 points
Which one of the following countries is not a member of MERCOSUR, an economic and political bloc?
Correct
Mercosur is an economic and political bloc comprising Argentina, Brazil, Paraguay, Uruguay, and Venezuela. Mexico is not a member of MERCOSUR.
Bolivia, Chile, Colombia, Ecuador, Guyana, Peru and Surinam are associated states of MERCOSUR.
Incorrect
Mercosur is an economic and political bloc comprising Argentina, Brazil, Paraguay, Uruguay, and Venezuela. Mexico is not a member of MERCOSUR.
Bolivia, Chile, Colombia, Ecuador, Guyana, Peru and Surinam are associated states of MERCOSUR.
Question 4 of 5
4. Question
1 points
Which one of the following is a proposed agreement between the member states of the ASEAN and its free trade agreement (FTA) partners?
Correct
The Regional Comprehensive Economic Partnership (RCEP) is a proposed agreement between the member states of the Association of Southeast Asian Nations (ASEAN) and its free trade agreement (FTA) partners. The pact aims to cover trade in goods and services, intellectual property, etc.
The Regional Comprehensive Economic Partnership was introduced during the 19th Asean meet held in November 2011. It aims to create an integrated market with 16 countries, making it easier for products and services of each of these countries to be available across this region.
Incorrect
The Regional Comprehensive Economic Partnership (RCEP) is a proposed agreement between the member states of the Association of Southeast Asian Nations (ASEAN) and its free trade agreement (FTA) partners. The pact aims to cover trade in goods and services, intellectual property, etc.
The Regional Comprehensive Economic Partnership was introduced during the 19th Asean meet held in November 2011. It aims to create an integrated market with 16 countries, making it easier for products and services of each of these countries to be available across this region.
Question 5 of 5
5. Question
1 points
In modern economics, which one of the following best describes the term 'network products'?
Correct
“Network products” are group of industries, where production processes are globally fragmented and controlled by leading Multi-National Enterprises (MNEs) within their “producer driven” global production networks. Examples of network products include computers, electronic and electrical equipment, telecommunication equipment, road vehicles etc.
China’s remarkable export performance vis-à-vis India is driven primarily by deliberate specialization at large scale in labour-intensive activities, especially “network products”, where production occurs across global value chains operated by multi-national corporations.
Incorrect
“Network products” are group of industries, where production processes are globally fragmented and controlled by leading Multi-National Enterprises (MNEs) within their “producer driven” global production networks. Examples of network products include computers, electronic and electrical equipment, telecommunication equipment, road vehicles etc.
China’s remarkable export performance vis-à-vis India is driven primarily by deliberate specialization at large scale in labour-intensive activities, especially “network products”, where production occurs across global value chains operated by multi-national corporations.
