INDIAN ECONOMY TEST - 2-Indian Economy-Quiz

Civil Services Exams-INDIAN ECONOMY TEST - 2

Q 1.
The term ‘currency war’ is related with:

a.)
Manipulation of exchange rate to realize more exports
b.)
Imposition of quota and tariff
c.)
Frequently changing domestic currency
d.)
Supply of counterfeit currencies in enemy countries

Q 2.
Consider the following statements about WTO and the IMF.

1. The voting rights at the IMF is such that among countries, only the US has an implicit veto power

2. The voting right at the WTO doesn’t give voting power in accordance with GDP size.

Of these,

a.)
Only 1 is correct
b.)
Neither1 nor 2 is correct
c.)
Both are correct
d.)
Only 2 is correct

Q 3.
Identify the Bretton woods twins form the following. Use the codes to choose the correct answer.

1. FAO 2. GATT 3. IBRD 4. IMF

Codes:

a.)
1 and 2
b.)
3 and 4
c.)
2 and 3
d.)
1 and 3

Q 4.
Which of the following are the functions of WTO?

To provide a forum for trade negotiations.

To administer the WTO agreement.

To settle the disputes among members.

To coordinate with IMF and IBRD in the formulation of global economic policies.

Select the correct answer using the codes given below:

Codes:

a.)
1, 2 and 3
b.)
1 and 3
c.)
1, 2, 3 and 4
d.)
2 and 4

Q 5.
Dumping aims at flooding a foreign country with:

a.)
High-priced commodities
b.)
Low-priced commodities
c.)
Commodities with similar prices
d.)
Commodities with fluctuating prices

Q 6.
Match List-I (Institution) with List-II (Main Objective) and select the correct answer using    the codes given below the lists:

List – I                                                 List – II

(Institution)                                  (Main Objective)

A.      IMF                                    1. To promote viable and durable

                                                      Multilateral trading system

B.      UNCTAD                             2.  To promote harmony between developed and

developing countries on trade-related developmental issues.

C.     World Bank                         3.  To promote socio-economic development the

                                                       member-Countries.

D.      WTO                                  4.  To reduce the degree balance of payment

                                                       disequilibrium of the member countries.

Codes:

      A                B                C                D

a.)
4 3 2 1
b.)
1 2 3 4
c.)
4 2 3 1
d.)
1 3 2 4

Q 7.
Geographical indications of WTO come under:

a.)
TRIMs
b.)
TRIPs
c.)
GATS
d.)
Agreement on Agriculture

Q 8.
Which one of the following countries doesn’t belongs to the top ten quota holders of the IMF?

a.)
China
b.)
India
c.)
Russia
d.)
South Africa

Q 9.
Which of the following South Asian nation is not a member of WTO?

a.)
Nepal
b.)
Bhutan
c.)
Maldives
d.)
Mauritius

Q 10.
Consider the statements about China’s relationship with WTO and select the correct answer.

1. China got membership in the WTO in 2001

2. China is considered as a developing country under the WTO.

3. China is the largest trading country among WTO members as on 2021.

Codes:

a.)
1, 2 and 3 are correct
b.)
2 and 3 are correct
c.)
Only 1 and 2 are correct
d.)
Only 1 is correct

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