ECONOMY MCQS SET 122

ECONOMY MCQS SET 122

1211) Which of the following International Organisations is India a member of?
1. Indian Ocean Rim Association for Regional Cooperation.
2. Organisation for Economic Cooperation and Development.
Which of the statements given above is/are correct?
A) Only 1
B) Only 2
C) Both 1 and 2
D) Neither 1 nor 2
Correct Answer: Only 1
   
1212) Which one of the following export items of India has the highest share in the world in the last five years?
A) Diamonds
B) Oil cake and other solid residues
C) Ferro alloys
D) Footwear with outer soles of rubber, plastic and leather
Correct Answer: Diamonds
   
1213) Consider the following objectives of the Bretton-Woods System
1. To maintain the exchange rate by tying its currency to the US dollar.
2. To bridge temporary imbalances of payments.
Which of the objectives given above is/are correct?
A) Only 1
B) Only 2
C) Both 1 and 2
D) Neither 1 nor 2
Correct Answer: Both 1 and 2
   
1214) The Balance of Payments (BOP) of a country is a systematic record of
A) all Import and export transactions of a country during a given period of time, normally a year
B) goods exported from a country during a year
C) economic transaction between the government of one country to another
D) capital movements from one country to another
Correct Answer: all Import and export transactions of a country during a given period of time, normally a year
   
1215) 'World Economic Outlook' report is published by
A) IMF
B) World Bank
C) RBI
D) UNCTAD
Correct Answer: IMF

1216) Consider the following
1. Edible oil
2. Sugar
3. Medicinal and Pharma products
4. Fertilisers
5. Petroleum crude and product
Which of the items given above are the components of the bulk import in the Indian economy?
A) 1, 3, 4, 5
B) 1, 2, 4, 5
C) 2, 3, 4, 5
D) All of the above
Correct Answer: 1, 2, 4, 5
   
1217) The term 'Paper Gold' means
A) Special Drawing Rights (SDRs) of the IMF
B) Special accommodation facility of the World Bank
C) Currencies still on Gold standard
D) Deficit financing
Correct Answer: Special Drawing Rights (SDRs) of the IMF
   
1218) The earlier name of WTO was
A) UNCTAD
B) GATT
C) UNIDO
D) OECD
Correct Answer: GATT
   
1219) Consider the following statements
1. India has started the Duty Free Tariff Preference (DFTP) Scheme with highly developed countries.
2. Under DFTP Scheme, the beneficiary countries have to submit to the Government of India letters of intent and details of officials authorised to issue the certificates of origin.
Which of the statements given above is/are correct?
A) Only 1
B) Only 2
C) Both 1 and 2
D) Neither 1 nor 2
Correct Answer: Only 2
   
1220) Which one of the following agencies given below is not the rating agency of an economy?
A) Fitch Group
B) Credit Rating and Information Services of India Limited
C) Moody's Investor Service
D) Samuel's investor Group
Correct Answer: Samuel's investor Group