Economics II/Macro Economics Concept or Definition Liberalization, Privatization, Globalization Private sector Public sector FDI MNCs Free Trade Policy Protection Trade Policy Fixed exchange rate Flexible exchange rate BOP BOT WTO GATT Internal & International trade Long type questions What is LPG? Explain the scope of LPG. Explain the impact of Globalization in India. Explain role of FDI and Govt. measures attract FDI in India. What is MNC? Explain its problems and prospects. Explain the Purchasing Power Parity theory of exchange rate determination. Discuss the meaning and structure of BOP. Explain the causes of disequilibrium in BOP. Discuss the measures to correct the disequilibrium in BOP. Explain merits & demerits of Free Trade Policy. Explain merits & demerits of Protection Trade Policy. Evaluate various agreements of WTO.