Q. USMCA (United States-Mexico-Canada) free trade agreement has replaced
(A) GATT
(B) NAFTA
(C) ECO
(D) League of Nations
The answer is: (B) NAFTA ☑
Q. A company sent a job offer letter to a candidate on 2 May 2020. The candidate received the letter on 4 May 2020. The communication of offer is completed on
(A) 2 May 2020
(B) 4 May 2020
(C) 3 May 2020
(D) 2 or 4 May 2020
The answer is: (B) 4 May 2020 ☑
Q. A company sent a job offer letter to a candidate. The candidate sent the acceptance letter on 2 May 2020 and the company received the letter on 4 May 2020. The communication of acceptance is completed on
(A) 2 May 2020
(B) 4 May 2020
(C) 3 May 2020
(D) 2 or 4 May 2020
The answer is: (A) 2 May 2020 ☑
Q. International Trade figures (in million dollars) of a country are given below:
Value of goods exported: 100
Value of goods imported: 120
Spending by citizens on foreign travel: 30
Services provided to foreign visitors: 10
What was the Balance of Payments (in million dollars) for this country?
(A) $20 million
(B) $40 million
(C) –$20 million
(D) –$40 million
The answer is: (D) –$40 million [Money In (100+10) – Money Out (120+30) = –40] ☑
Q. Which of the following product is likely to be produced using division of labour?
(A) Mud sculpture
(B) Oil painting
(C) Ceiling fan
(D) A cup of coffee
The answer is: (C) Ceiling fan ☑