India is not a member of the China-ASEAN (Association of South East Asian Nations) free-trade area implemented on January 1, 2010. As a result, India fears that some of its:

a. exports to China will be diverted to ASEAN countries.
b. exports to the United States will be diverted to China.
c. exports to China and to ASEAN countries will be diverted to trade among members of the China-ASEAN free-trade area.
d. imports from ASEAN countries will be diverted to China.

Ans: c. exports to China and to ASEAN countries will be diverted to trade among members of the China-ASEAN free-trade area.

Economics

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Macroeconomics is the study of

a. the behavior of large firms in the marketplace b. the economic behavior of individual decision makers c. the behavior of the economy as a whole d. how to use the fewest natural resources to produce goods and services e. government's role as a stabilizing influence on the economy

Economics

Which of the following is the prime objective of an industrial policy for any country?

a. To secure a leading global role for selected domestic industries b. To promote and encourage the import of goods and services c. To secure the interests of migrant workers d. To encourage specialization of labor e. To ensure a high level of competition for domestic firms

Economics