1. What is balance of payments? Explain briefly the components of balance of payments. Discuss the factors which affect balance of payments.
2. (a) How is the WTO different from GATT? Explain the scope and functions of the WTO.
(b) Discuss the multilateral trade agreement on agriculture.
3. (a) What do you mean by globalization? Discuss the effects of globalization on the world economy.
(b) What is Global Trade Point Network (GTPN)? Discuss the objectives of GTPN.
4. Distinguish between:
(a) Trade Related Intellectual Property (TRIPs) and Trade Related Investment Measures (TRIMs)
(b) Regionalism and Multilateralism
5. Write short notes on:
(a) Labour Theory of Value of International Trade
(b) Modern theory of Trade
(c) Objectives and Functions of International Monetary Fund