GK Question and Answer on International Economy International Iinstitutions

26-JUL-2017 16:18

    This set has 10 MCQs based on the International Institutions like World Bank, World Trade Organization and International Monetary Fund etc. This set will be very helpful in the success of all the aspirants preparing for competitive examinations.


    1. Where is the headquarters of SAARC?

    (A) Kathmandu

    (B) Manila

    (C) Dhaka

    (D) Jakarta

    Answer A

    Explanation: The headquarters of the SAARC is in Kathmandu.

    2. Which statement is not true about SAARC?

    (A) Currently there are 8 members of SAARC

    (B) It was established in Bangladesh in 1964

    (C) Its first meeting was held in Danka

    (D) It aims to promote mutual cooperation among members in South Asia

    Answer B

    Explanation: SAARC was established in Bangladesh in 1985.

    3. If the Balance of Payment of a country is adverse, then which institution will help that country?

    (A) World Bank

    (B) World Trade Organization

    (C) International Monetary Fund

    (D) Asian Development Bank

    Answer C

    Explanation: The International Monetary Fund helps in correcting the Balance of Payment of the member countries.

    4. Who issues the Special Drawing Rights (SDR) in the following?

    (A) World Bank

    (B) World Trade Organization

    (C) Asian Development Bank

    (D) International Monetary Fund

    Answer D

    Explanation: The International Monetary Fund issues paper currency or SDR (Special Drawing Right) to member countries.

    5. Which of the followings are called Brettonwoods Twins?

    (A) IMF & International Bank for Reconstruction and Development (IBRD)

    (B) IMF & World Trade Organisation

    (C) IBRD & World Trade Organisation

    (D) None of the above

    Answer A

    Explanation: IMF & IBRD was founded altogether in 1946 in the US. This is why they are called Brettonwoods Twins.

    6. Which of the following countries is the latest member of the International Monetary Fund?

    (A) Tuvalu

    (B) Iran

    (C) Serbia

    (D) Nauru

    Answer D

    Explanation: In April 2016,"Nauru" has become 189th member of the International Monetary Fund.

    7. Which of the following statements is not correct?

    (A) Both the IMF & IBRD have headquarters in Washington

    (B) Both IMF & IBRD are the  Constituent organizations of United Nations Organization

    (C) IBRD is also called World Bank

    (D) India's vote share in the International Monetary Fund is 10%

    Answer D

    Explanation: India's share in the International Monetary Fund's vote share is 2.76%.

    8. Which of the following institution is associated with Dunkel Proposals?

    (A) World Bank

    (B) International Monetary Fund

    (C) World Trade Organization

    (D) United Nations Organization

    Answer C

    Explanation: World Trade Organization

    9.Which of the following currency is not included in the calculation of the SDR of International Monetary Fund?

    (A) Yen

    (B) Yuan

    (C) Rupee

    (D) pound sterling

    Answer C

    Explanation: In determining the IMF basket, rupee's values is not included.

    10. Which of the following institutions is not part of the World Bank community?

    (A) IBRD

    (B) WTO

    (C) IDA

    (D) IFC

    Answer B

    Explanation: WTO or World Trade Organisation

    500+ QUIZ on Indian Economy

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