Indian Economy MCQ Set-13

International Economic Institutions MCQ for competitive examinations in India such as UPSC CSE, State PSC, IBPS PO, SBI PO, IBPS SO, IBPS RRB, IBPS Clerk and various government & public sector undertaking jobs in India.

Q.1 The headquarter of SAARC is located in:

A. Dhaka

B. New Delhi

C. Kathmandu

D. Lahore

Answer: C. Kathmandu

Note: The South Asian Association for Regional Cooperation (SAARC) is an economic and political organization of eight countries in South Asia. It was established in 1985 when the Heads of State of Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka formally adopted the charter.

Q.2 Which of the following institution shall help a country if the balance of payment of that country is in adverse condition?

A. International Monetary Fund

B. World Bank

C. World Trade Organization

D. None of these

Answer: A. International Monetary Fund

Q.3 The supplementary foreign exchange reserve Special Drawing Rights is defined and maintained by which of the following institution?

A. World Bank

B. International Monetary Fund

C. Asian Development Bank

D. World Trade Organization

Answer: B. International Monetary Fund

Note: Special drawing rights are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund. SDRs are units of account for the IMF, and not a currency per se. They represent a claim to currency held by IMF member countries for which they may be exchanged.

Q.4 The International Bank of Reconstruction and Development (IBRD), a development bank administered by which of the following institution?

A. World Bank

B. International Monetary Fund

C. Asian Development Bank

D. World Trade Organization

Answer: A. World Bank

Note: The International Bank for Reconstruction and Development is an international financial institution, established in 1944 and headquartered in Washington, D.C., United States, that is the lending arm of World Bank Group. The IBRD offers loans to middle-income developing countries.

Q.5 Which of the following institutions are called as Bretton Woods Twins?

A. World Bank & International Monetary Fund

B. World Bank & Asian Development Bank

C. International Monetary Fund & World Trade Organization

D. None of these

Answer: A. World Bank & International Monetary Fund

Note: The World Bank and the International Monetary Fund (IMF) are referred to as the Bretton Woods Twins. The International Bank for Reconstruction and Development (IBRD) and International Development Agency (IDA) together often referred as the World Bank.

Q.6 Which of the following is CORRECT about the World Trade Organization?

I. It was established in 1995

II. WTO headquarter is located in Geneva, Switzerland

III. It is an intergovernmental organization

A. Only I

B. Only II

C. Only III

D. All

Answer: D. All

Note: The World Trade Organization is an intergovernmental organization that regulates and facilitates international trade between nations. Governments use the organization to establish, revise, and enforce the rules that govern international trade. It was established on 1st January, 1995 and its headquarter is located in Geneva, Switzerland.

Q.7 Which of the following is NOT a part of the World Bank Group?

A. WTO

B. IBRD

C. IFC

D. IDA

Answer: B. WTO

Note: The International Bank of Reconstruction and Development (IBRD), International Development Agency (IDA) and the International Finance Corporation (IFC) are part of the World Bank Group.

Q.8 Which of the following currency is not used in calculation of Special Drawing Rights (SDR) by the IMF?

A. Rupee

B. US Dollar

C. Japanese Yen

D. Chinese Renminbi

Answer: A. Rupee

Note: The currency value of the SDR is determined by summing the values in U.S. dollars, based on market exchange rates, of a basket of major currencies (the U.S. dollar, Euro, Japanese yen, pound sterling and the Chinese renminbi).

Q.9 The International Monetary Fund (IMF) was established in which of the following year?

A. 1944

B. 1945

C. 1955

D. 1960

Answer: A. 1944

Note: The IMF was established in 1944 in the aftermath of the Great Depression of the 1930s. 44 founding member countries sought to build a framework for international economic cooperation.

Q.10 India became member of the International Monetary Fund in which of the following year?

A. 1945

B. 1948

C. 1953

D. 2014

Answer: A. 1945

Note: On 27th December, 1945, India became member of the IMF.

List of Indian Economy MCQ sets from GKLead.com

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