MCQOPTIONS
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MCQOPTIONS
This section includes 426 Mcqs, each offering curated multiple-choice questions to sharpen your General Knowledge knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
The term 'paper Gold' means |
| A. | Special Drawing Rights (SDR) of the IMF |
| B. | Special accomodation facility of the World Bank |
| C. | Currencies still on Gold standard |
| D. | Deficit Financing |
| Answer» B. Special accomodation facility of the World Bank | |
| 2. |
The capital of IMF is made up by contribution of the |
| A. | credit |
| B. | deficit financing |
| C. | member nations |
| D. | borrowings |
| Answer» D. borrowings | |
| 3. |
In which years was the World Bank formed? |
| A. | 1945 |
| B. | 1956 |
| C. | 1960 |
| D. | 1988 |
| Answer» B. 1956 | |
| 4. |
The view that 'Planning in India should, in future, pay more attention to the people than to commodities' was given by |
| A. | Amartya Sen |
| B. | Yashwat Sinha |
| C. | Atal Behari Vajpayee |
| D. | Man Mohan Singh |
| Answer» B. Yashwat Sinha | |
| 5. |
'World Bank' is also known as |
| A. | International Bank for Reconstruction and Development |
| B. | International Bank for Rehabiliation and Development |
| C. | International Bank for Refinance and Development |
| D. | International Bank for Research and Development |
| Answer» B. International Bank for Rehabiliation and Development | |
| 6. |
World Bank helps countries with loans for the purpose of |
| A. | Reconstruction and development |
| B. | stimulating private investment |
| C. | tackling foreign exchange crises |
| D. | meeting deficits in government budget |
| Answer» B. stimulating private investment | |
| 7. |
'World Development Report' is annual publication of |
| A. | International Bank of reconstruction and Development (IBRD) / World bank |
| B. | United Nations Development Programme (UNDP) |
| C. | World Trade Organisation (WTO) |
| D. | International Monetary Fund (IMF) |
| Answer» B. United Nations Development Programme (UNDP) | |
| 8. |
S.D.R stands for |
| A. | Special Drawing Rights |
| B. | State Drawing Rights |
| C. | Special Dollar Rights |
| D. | Specific Dollar Rights |
| Answer» B. State Drawing Rights | |
| 9. |
Special Drawing Rights (SDR) facility is available at |
| A. | International Monetary Fund (IMF) |
| B. | International Bank for Reconstruction and Development (IBRD)/ World Bank |
| C. | International Development Association (IDA) |
| D. | Organisation of Economic Co-operation and Development (OECD) |
| Answer» B. International Bank for Reconstruction and Development (IBRD)/ World Bank | |
| 10. |
Consider the following organisations1. International Bank for Reconstruction and Development (IBRD)2. International Finance Corporation (IFC)3. International Fund for Agricultural Development (IFAD).4. International Monetary Fund (IMF).Which of these are agencies of the United Nations? |
| A. | 1 and 2 |
| B. | 2 and 3 |
| C. | 3 and 4 |
| D. | 1, 2 3 and 4 |
| Answer» E. | |
| 11. |
Regarding the International Monetary Fund (IMF), which one of the following statements is correct? |
| A. | It can grant loans to any country |
| B. | It can grant loans to only development countries |
| C. | It grants loans to only member countries |
| D. | It can grant loans to the Central Bank of a country |
| Answer» D. It can grant loans to the Central Bank of a country | |
| 12. |
IMF was established to meet which of the following objectives?1. Promoting international monetary co-operation.2. Expanding international trade.3. Lessening the disequilibrium in balance of trade.4. Avoiding competitive exchange depreciations.Code |
| A. | 1, 2 and 3 |
| B. | 1, 3 and 4 |
| C. | 2 and 4 |
| D. | 1, 2, 3, and 4 |
| Answer» B. 1, 3 and 4 | |
| 13. |
How is the United Nation Monetary and Financial Conference where in the agreements were signed to set up IBRD, GATT and IMF, commonly known? |
| A. | Bandug Conference |
| B. | Bretton Woods Conference |
| C. | Versailles Conference |
| D. | Yalta Conference |
| Answer» D. Yalta Conference | |
| 14. |
The IMF and the World Bank were conceived as institutions to |
| A. | strengthen international economic co-operation and to help create a more stable and prosperous global economy |
| B. | IMF promotes international monetary operation |
| C. | The World Bank promotes long term economic development and poverty reduction |
| D. | All a, b and c |
| Answer» E. | |
| 15. |
What is 'WEF'? |
| A. | World Eco-Friendly |
| B. | World Economic Forum |
| C. | World European Fund |
| D. | Wild Ecological Fund |
| Answer» C. World European Fund | |
| 16. |
Which of the following organisation is to organise relief for the victims of war or disaster |
| A. | CENTO |
| B. | WCC |
| C. | ICRC |
| D. | ASAC |
| Answer» D. ASAC | |
| 17. |
Who provide for collective defence and economic cooperation in South East Asia |
| A. | SEATO |
| B. | NATO |
| C. | EFTA |
| D. | IATA |
| Answer» B. NATO | |
| 18. |
Who is called the 'Father of Modern Economics'? |
| A. | Adam Smith |
| B. | Marshall |
| C. | Keynes |
| D. | Robbins |
| Answer» B. Marshall | |
| 19. |
Consider the following countries 1. Brazil2. Mexico3. South AfricaAccording to UNCTAD which of the above is/are categorized as 'Emerging Economics'? |
| A. | 1 only |
| B. | 2 and 3 only |
| C. | 2 and 3 only |
| D. | 1, 2 and 3 |
| Answer» E. | |
| 20. |
Karl Marx explained the process of class struggle with the help of which one of the following theories ? |
| A. | Empirical liberalism |
| B. | Extentialism |
| C. | Darwin's theory of evolution |
| D. | Dialectical materialism |
| Answer» E. | |
| 21. |
'The Doing Business Report' is prepared by which of the following organisations every year? |
| A. | World Bank |
| B. | Asian Development Bank (ADB) |
| C. | International Monetary Fund (IMF) |
| D. | World Trade Organisation (WTO) |
| Answer» B. Asian Development Bank (ADB) | |
| 22. |
Where is the headquarter of International Bank for Reconstruction and Development (IBRD) located ? |
| A. | Geneva |
| B. | Washington D.C. |
| C. | London |
| D. | Paris |
| Answer» C. London | |
| 23. |
The head office of the Asian Development Bank (ADB) is in |
| A. | Manila |
| B. | Jakarta |
| C. | Honululu |
| D. | Nairobi |
| Answer» B. Jakarta | |
| 24. |
A 'closed economy' is an economy in which |
| A. | the money supply is fully controlled |
| B. | deficit financing takes place |
| C. | only exports take place |
| D. | neither exports nor imports take place |
| Answer» E. | |
| 25. |
Given below are a few abbreviations and the areas with which they are associated. Match them properly using the given codeList-I (Abbreviations)List-II (Areas) F OGL, FOB1.EmploymentG SJRY, TRYSEM2.External TradeH WPI, CPI3.BankingJ CRR, SLR4.Index NumbersCodeF G H J A. 2143B. 2431C. 4321D. 4321 |
| A. | A. |
| B. | B. |
| C. | C. |
| D. | D. |
| Answer» B. B. | |
| 26. |
In the context of Indian economy, consider the following pairs TermMost appropriate description1. Melt downFall in stock prices2. RecessionFall in growth rate3. Slow downFall in GDPWhich of the pairs given above is/are correctly matched? |
| A. | 1 only |
| B. | 2 and 3 only |
| C. | 1 and 3 only |
| D. | 1, 2 and 3 |
| Answer» E. | |
| 27. |
The 'law of demand' expresses |
| A. | effect of change in price of a commodity on its demand |
| B. | effect of change in demand of a commodity on its price |
| C. | effect of change in demand of a commodity over the supply of its substitute |
| D. | None of the above |
| Answer» C. effect of change in demand of a commodity over the supply of its substitute | |
| 28. |
Read the following statements carefully 1. In 1991 policy of Economic liberalization was adopted in India.2. Foreign currency market and Foreign Investment sectors were promoted.3. Import of foreign goods was freed fom prohibition.Select the answer on the basis of following code |
| A. | 1 and 2 are correct |
| B. | 1 and 3 are correct |
| C. | 2 and 3 are correct |
| D. | 1, 2 and 3 are correct |
| Answer» E. | |
| 29. |
What happens when an economy goes in the grip of recession?1. GDP growth slows down.2. People lose their jobs.3. Foreign exchange reserve goes up substantially as lot of loans/grants start pouting in.Codes |
| A. | only 1 |
| B. | only 2 |
| C. | only 3 |
| D. | only 1 and 2 |
| Answer» E. | |
| 30. |
Who says : 'The propensity to consume is stable in the short run'? |
| A. | Keynes |
| B. | Hicks |
| C. | Arrow |
| D. | Stiglitz |
| Answer» B. Hicks | |
| 31. |
Consider the following financial institution of India1. Industrial Finance Corporation of India (IFCI).2. Industrial Credit and Investment Corporation of India (ICICI).3. Industrial Development Bank of India (IDBI).4. National Bank for Agriculture and Rural Development (NABARAD)The correct chronological sequence of the establishment of theses institution is |
| A. | 1,2,3,4 |
| B. | 2,3,4,1 |
| C. | 3,4,1,2 |
| D. | 4,1,2,3 |
| Answer» B. 2,3,4,1 | |
| 32. |
Match List-I with List-II and select the correct answer using the codes given below the listsList-IList-IIF United Nations Development Programme (UNDP)1.Human Development ReportG National Council of Applied Economic Research2.India Human Development ReportH World Bank/IBRD3.World Development ReportJ Indira Gandhi Institute of Development Research4.India Development ReportCodeF G H J A. 1234B. 1243C. 2143D. 2134 |
| A. | A. |
| B. | B. |
| C. | C. |
| D. | D. |
| Answer» B. B. | |
| 33. |
Many times we read a term 'Free Market' in newspapers. What does it mean? [Pick up the correct statements (s)].1. It is a market where pricing is driven by the laws of supply and demand2. In free market things are available without restraints of the government.3. In such market goods are free from extranceous infludences such as buffer or quotas.Codes |
| A. | Only 1 |
| B. | Only 2 |
| C. | Only 3 |
| D. | Both 1 and 2 |
| Answer» E. | |
| 34. |
The terms 'Micro Economics' and 'Macro Economics' were coined by |
| A. | Alfred Marshall |
| B. | Ranger Nurkse |
| C. | Ranger Frisch |
| D. | J.M.Keynes |
| Answer» D. J.M.Keynes | |
| 35. |
'Economics is what is ought to be'. This statement refer to |
| A. | Normative Economics |
| B. | Positive Economics |
| C. | Monetary Economics |
| D. | Fiscal Economics |
| Answer» B. Positive Economics | |
| 36. |
In the context of independent India's economy, which one of the following was the earliest event to take place? |
| A. | Nationalization of Insurance companies |
| B. | Nationalization of State Bank of India |
| C. | Enactment of Banking Regulation Act |
| D. | Introduction of First Five Year Plan |
| Answer» D. Introduction of First Five Year Plan | |
| 37. |
To bin Tax refers to |
| A. | a levy on local bodies which do not utilise their funds |
| B. | a tax to prevent speculation in shares |
| C. | a tax to prevent speculative fight of capital |
| D. | a tax on expenditure on luxury items |
| Answer» D. a tax on expenditure on luxury items | |
| 38. |
Laissez-faire is a feature of |
| A. | Socialism |
| B. | Communism |
| C. | Capitalism |
| D. | Mixed economy |
| Answer» D. Mixed economy | |
| 39. |
Muhammad Yunus of Bangladesh who was awarded Nobal Prize a few years back is a famous |
| A. | Author |
| B. | Scientist |
| C. | Social Worker |
| D. | Economist |
| Answer» E. | |
| 40. |
In the present context of socio-economic development the concept of 'meeting the needs of the present without compromising the ability of future generations to meet their needs' is popularly known as the concept of |
| A. | Sustainable Development |
| B. | uniform Growth |
| C. | Target-driven Growth |
| D. | No risk-No gain |
| Answer» B. uniform Growth | |
| 41. |
Who amongst the following economists gave the concept of 'economics of sale' which says 'many goods and services can be produced more cheaply in long series' |
| A. | Edward C. Prescott |
| B. | Amartya Sen |
| C. | Gary S. Bekher |
| D. | Paul Krugman |
| Answer» E. | |
| 42. |
'Interest is a reward for parting with liquidity for a specific period' is according to |
| A. | Keynes |
| B. | Marshall |
| C. | Haberler |
| D. | Ohlin |
| Answer» B. Marshall | |
| 43. |
Match the following:List-IList-IIF United Nations Industrial Development Organisation1. GenevaG Food and Agricultural Organisation2. ParisH World Health Organisation3. RomeJ United Nations Educational, Scientific and cultural organisation4. ViennacodeF G H J A. 3421B. 3241C. 3421D. 4312 |
| A. | A. |
| B. | B. |
| C. | C. |
| D. | D. |
| Answer» C. C. | |
| 44. |
Pro. Amartya Sen was awarded Nobel Prize for his contribution to the field of |
| A. | Food and famines |
| B. | Welfare economics |
| C. | Indian economy |
| D. | Poverty |
| Answer» C. Indian economy | |
| 45. |
A 'want' becames a 'demand' only when it is backed by the price level in an economy is |
| A. | Direct |
| B. | Inverse |
| C. | Proportional |
| D. | Stable |
| Answer» C. Proportional | |
| 46. |
Who propounded the 'market law'? |
| A. | Adam Smith |
| B. | J.B. Say |
| C. | T.T. Malthus |
| D. | David Ricardo |
| Answer» C. T.T. Malthus | |
| 47. |
Motivations given to Multinational companies in India means encouragement of |
| A. | Privatization Policy |
| B. | Globalization Policy |
| C. | Liberalization Policy |
| D. | All of these |
| Answer» E. | |
| 48. |
Which of the following terms is NOT used in the world of economics/finance? |
| A. | Sinking Fund |
| B. | Open Door Policy |
| C. | Devaluation |
| D. | Privilege Motion |
| Answer» E. | |
| 49. |
Which of the following terms is NOT used in Economics? |
| A. | Balance of Trade |
| B. | Break Even |
| C. | Fiscal Deficit |
| D. | Centrifugal Force |
| Answer» E. | |
| 50. |
Nobel Prize winning India Amartya Sen in known for his work in which area? |
| A. | Physics |
| B. | Environmental Protection |
| C. | Chemistry |
| D. | Economics |
| Answer» E. | |