Daily Top-20 MCQs (Set-20)

for CSS, PMS, PCS, FPSC and related Exams

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Today’s MCQs are all about World Economy, these MCQs are taken from different books and Past Papers which are helpful for all type competitive exams.

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GATT headquarters is located at:
(a) Geneva
(b) Paris
(c) Washington
(d) Hague
Answer: a

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From the view of international economy, Third World implies:
(a) The developed countries
(b) The developing countries
(c) Block led by U.S.A, U.K. etc.
(d) None of these
Answer: b

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Voting rights in the International Monetary Fund (IMF) are distributed on the basis of:
(a) One country, one vote
(b) Proportion to the share of the income of the country in the world income
(c) Proportion to contribution given by each country
(d) Proportion to quota allocated to countries from time to time
Answer: d

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Which of the following statements is true about Asian Development Bank?
(a) It is a Commercial Bank
(b) It was sponsored by UN
(c) It is a subsidiary of World Bank
(d) It gives loans only for housing projects
Answer: b

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The headquarters of IMF is situated in:
(a) England
(b) New York
(c) Washington
(d) Tokyo
Answer: c

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Which of the following economic groups are the organizations of the Third World Countries?
1. South Commission
2. Group of 77
3. Council of Mutual Economic Assistance
4. Association of South-East Asian Nations
(a) 1, 2 and 3
(b) 1, 2 and 4
(c) 1, 3 and 4
(d) 2, 3 and 4
Answer: b

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Which of the following organizations has rated India as the sixth largest economy in the world?
(a) European Development Bank
(b) World Bank
(c) Asian Development Bank
(d) International monetary Fund
(e) None of these
Answer: d

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Most Favoured Nations (MFN) clause under GATT implies:
(a) Most favour to some countries
(b) No favour to some countries
(c) Most favour to all countries
(d) No favour to any country
Answer: c

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GATT is an international organization helping in:
(a) Trading with socialist countries
(b) Trading between developing countries
(c) Trading with communist countries
(d) None of these
Answer: b

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Compensatory and Contingency Financing Facility is a fund for helping member countries and is maintained by:
(a) Asian Development Bank
(b) The European Community
(c) The World bank
(d) International Monetary Fund
Answer: d

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Economic and Social Council of United Nations is composed of 54 members elected by the General Assembly for a term of:
(a) 2 years
(b) 3 years
(c) 5 years
(d) 7 years
Answer: b

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The developing countries have only a minor share of the world trade because:
(a) They produce mainly primary goods whose prices are low
(b) Their economies are not trade oriented
(c) They lack the necessary infrastructure
(d) They face fierce competition from trade grouping like the EEC.
Answer: c

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Which of the following types of borrowings from the IMF has the Softest servicing conditions:
(a) Oil facility
(b) ESAF
(c) Second Trancha Loan
(d) SAF
Answer: b

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The purpose of the World Bank is to:
(a) Meet balance of payments position
(b) Reduce trade gaps
(c) Give international loans for development purposes
(d) Assist in projects in developing countries
Answer: c

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The main function of I.M.F. is to:
(a) Finance investment loans to developing countries
(b) Act as a private sector lending arm of the World Bank
(c) Help to solve balance of payment problems of member countries
(d) Arrange international deposits from banks
Answer: c

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World Bank is situated at:
(a) England
(b) Manila
(c) New York
(d) Washington
Answer: d

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The World Trade Organisation (WTO) is set up to take over functions of which of the following?
(a) IUOTO
(b) IMF
(c) GATT
(d) ECA
(e) ECOSOC
Answer: c

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World Bank is a body:
(a) Of non-official, generous individuals
(b) That controls world wide foreign exchange operations
(c) Of major banks operating in different countries
(d) That gives aid to developing countries
Answer: d

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What is the complete name of World Bank?
(a) International Finance Corporation
(b) International Development authority
(c) International Bank of Reconstruction and Development
(d) International Monetary Fund
Answer: c

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The headquarters of APEC (Asia Pacific Economic Corporation) is in:
(a) China
(b) Japan
(c) Malaysia
(d) Singapore
Answer: d

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