The 'countervailing duty' is imposed to countervail: MCQ with Answer and Explanation

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The 'countervailing duty' is imposed to countervail:

A. foreign export subsidies

B. dumping

C. currency depreciation

D. high tariffs

Answer: Option A

Solution (By JKSSB Mock Tests)

Countervailing duties offset foreign subsidies on exports.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Returns to scale refers to the relationship between inputs and output when:

A. marginal cost is constant

B. only one factor is changed

C. all factors are changed in the same proportion

D. technology is fixed

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Correct Answer: Option C

Explanation:
Returns to scale describe the long-run response of output when all inputs change proportionally.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'non-tariff barrier' includes which of the following?

A. Import duties

B. Sanitary and phytosanitary standards, quotas and licensing

C. Export duties

D. Customs valuation only

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Correct Answer: Option B

Explanation:
Non-tariff barriers include quotas, licensing, technical standards and sanitary measures.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'currency futures' are standardized contracts to exchange currencies at a future date and are traded on:

A. stock exchanges

B. RBI only

C. over-the-counter only

D. commercial banks only

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Correct Answer: Option A

Explanation:
Currency futures are exchange-traded standardized contracts.

This question belongs to: Economy GK Economy Set 1

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