GK Quiz on Economics: International Organizations

Take the following Quiz on Indian Economy based on International Economic Organizations. The quiz would be beneficial for the candidates of various competitive exams like UPSC, SSC, NDA/NA etc. 

1. Which of the following is among the mandates of the United Nations?

i) Providing full employment

ii) Providing conditions of economic growth

1. Only i
2. Only ii
3. Both i and ii
4. None of the above 

Ans. c

Explanation: A central mandate of the UN is the promotion of higher standards of living, full employment, and conditions of economic and social progress and development.

2. Originally, how many countries signed the Convention on the Organisation for Economic Co-operation and Development?

1. 20 countries
2. 30 countries
3. 31 countries
4. 22 countries

Ans. a

Explanation: On 14 December 1960, 20 countries originally signed the Convention on the Organisation for Economic Co-operation and Development.

3. Which is the only tripartite UN Agency?

1. UNESCO
2. UNICEF
3. ILO
4. None of the above

Ans. c

Explanation: The only tripartite U.N. agency, since 1919 the ILO brings together governments, employers and workers of 187 member States.

4. Which of the following is the task of ILO?

i) To set labour standards

ii) To develop policies and devise programmes for working conditions 

1. Only i
2. Only ii
3. Both i and ii
4. None of the above

Ans. c

Explanation: The work of ILO is to set labour standards, develop policies and devise programmes promoting decent work for all women and men. 

5. How many countries are a part of the IMF?

1. 190 
2. 187
3. 188
4. 191

Ans. a

Explanation: The International Monetary Fund, or IMF, promotes international financial stability and monetary cooperation. It has 190 members. 

6. In which year was the IMF established?

1. 1945
2. 1965
3. 1991
4. 1944

Ans. d

Explanation: The International Monetary Fund was established in the year 1944. 

7. Which of the following organizations is not a part of the World Bank Group?

1. IBRD
2. IDA
3. MIGA
4. ILO

Ans.d

Explanation: The International Bank for Reconstruction and Development, International Development Association, International Finance Corporation are a part of the World Bank

8. Which of the following statements is true about MIGA?

i) It provides political risk insurance to the investors 

ii) It is also providing credit enhancement for cross border private sector investors and lenders

1. Only i
2. Only ii
3. Both i and ii
4. None of the above 

Ans. c

Explanation: Multilateral Investment Guarantee Agency (MIGA) provides the both political risk insurance and credit enhancement for cross border private sector investors and lenders

9. What is the amount of India's forex reserve?

1. 500 million US dollars
2. 620.5 billion US dollars
3. 1000 billion US dollars
4. None of the above 

Ans. b

Explanation: India's total foreign exchange (Forex) reserves stand at around US$620.576 Billion on 30 July 2021

10. What is the growth rate of India projected by the IMF for FY22?

1. 12.5%
2. 9.5%
3. 10%
4. 6.5%

Ans. b

Explanation: In July 2021, the International Monetary Fund (IMF) slashed India's economic growth projection for FY22 to 9.5% from 12.5% estimated in April 2021. 

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