51 Which country first of all employed credit rationing as an instrument of credit control?

France

52 What does the ‘Terms of Trade’ mean?

Ratio of the index of export prices to the index of import prices

53 Market for very short term loans is called

Money market

54  Keeping other things the same, an increase in exports over imports will have what effect on in come?

Rises

55 Who did not favored Free trade?

Mercantilists

56 In Balance of Payments, foreign travel is

Invisible

57 If the elasticity of foreign demand for the country’s export is unity, what will be the shape of the supply curve of foreign exchange?

Vertical

58 Who employed for the first time the multiple exchange rates?

Germany

59 What is the elasticity of demand for foreign exchange for financing capital outflow?

Zero

60 The law of Comparative Costs is based on which theory?

Labor Theory of Value