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The Regional Comprehensive Economic Partnership (RCEP): Examining Its Implications for India

Description: The Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement between the ten member states of the Association of Southeast Asian Nations (ASEAN) and five of its dialogue partners: Australia, China, Japan, New Zealand, and South Korea. This quiz examines the implications of RCEP for India, which is not a member of the agreement.
Number of Questions: 15
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Tags: economics trade india rcep
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Which of the following countries is not a member of RCEP?

  1. Indonesia

  2. Thailand

  3. Vietnam

  4. India


Correct Option: D
Explanation:

India is not a member of RCEP.

What is the main objective of RCEP?

  1. To promote trade and investment among member countries

  2. To reduce tariffs and other trade barriers

  3. To establish a common market among member countries

  4. All of the above


Correct Option: D
Explanation:

The main objective of RCEP is to promote trade and investment among member countries, reduce tariffs and other trade barriers, and establish a common market among member countries.

How many countries are members of RCEP?

  1. 10

  2. 15

  3. 20

  4. 25


Correct Option: B
Explanation:

RCEP has 15 member countries: the ten member states of ASEAN and five of its dialogue partners: Australia, China, Japan, New Zealand, and South Korea.

What is the combined GDP of RCEP member countries?

  1. $25 trillion

  2. $30 trillion

  3. $35 trillion

  4. $40 trillion


Correct Option: A
Explanation:

The combined GDP of RCEP member countries is estimated to be around $25 trillion.

What is the combined population of RCEP member countries?

  1. 2.2 billion

  2. 2.5 billion

  3. 2.8 billion

  4. 3.1 billion


Correct Option: A
Explanation:

The combined population of RCEP member countries is estimated to be around 2.2 billion.

What are the potential benefits of RCEP for India?

  1. Increased trade and investment

  2. Lower tariffs and other trade barriers

  3. Access to a larger market

  4. All of the above


Correct Option: D
Explanation:

The potential benefits of RCEP for India include increased trade and investment, lower tariffs and other trade barriers, and access to a larger market.

What are the potential challenges of RCEP for India?

  1. Increased competition from other member countries

  2. Loss of jobs in certain sectors

  3. Negative impact on domestic industries

  4. All of the above


Correct Option: D
Explanation:

The potential challenges of RCEP for India include increased competition from other member countries, loss of jobs in certain sectors, and negative impact on domestic industries.

What is the government of India's stance on RCEP?

  1. It is in favor of joining RCEP

  2. It is against joining RCEP

  3. It is undecided

  4. It has not taken a position yet


Correct Option: C
Explanation:

The government of India is currently undecided on whether to join RCEP.

What are the main concerns of the government of India regarding RCEP?

  1. Increased competition from other member countries

  2. Loss of jobs in certain sectors

  3. Negative impact on domestic industries

  4. All of the above


Correct Option: D
Explanation:

The main concerns of the government of India regarding RCEP include increased competition from other member countries, loss of jobs in certain sectors, and negative impact on domestic industries.

What are the main arguments in favor of India joining RCEP?

  1. Increased trade and investment

  2. Lower tariffs and other trade barriers

  3. Access to a larger market

  4. All of the above


Correct Option: D
Explanation:

The main arguments in favor of India joining RCEP include increased trade and investment, lower tariffs and other trade barriers, and access to a larger market.

What are the main arguments against India joining RCEP?

  1. Increased competition from other member countries

  2. Loss of jobs in certain sectors

  3. Negative impact on domestic industries

  4. All of the above


Correct Option: D
Explanation:

The main arguments against India joining RCEP include increased competition from other member countries, loss of jobs in certain sectors, and negative impact on domestic industries.

What is the likely impact of RCEP on India's trade deficit?

  1. It will increase

  2. It will decrease

  3. It will remain the same

  4. It is difficult to say


Correct Option: D
Explanation:

The likely impact of RCEP on India's trade deficit is difficult to predict, as it will depend on a number of factors, including the specific terms of the agreement and the economic conditions in India and other member countries.

What is the likely impact of RCEP on India's economic growth?

  1. It will increase

  2. It will decrease

  3. It will remain the same

  4. It is difficult to say


Correct Option: D
Explanation:

The likely impact of RCEP on India's economic growth is difficult to predict, as it will depend on a number of factors, including the specific terms of the agreement and the economic conditions in India and other member countries.

What is the likely impact of RCEP on India's employment?

  1. It will increase

  2. It will decrease

  3. It will remain the same

  4. It is difficult to say


Correct Option: D
Explanation:

The likely impact of RCEP on India's employment is difficult to predict, as it will depend on a number of factors, including the specific terms of the agreement and the economic conditions in India and other member countries.

What is the likely impact of RCEP on India's environment?

  1. It will improve

  2. It will worsen

  3. It will remain the same

  4. It is difficult to say


Correct Option: D
Explanation:

The likely impact of RCEP on India's environment is difficult to predict, as it will depend on a number of factors, including the specific terms of the agreement and the economic conditions in India and other member countries.

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