ECONOMY MCQS SET 133

ECONOMY MCQS SET 133

1321) Voting rights in the 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 contributions given by each country
D) proportion to quota allotted to countries from time to time
Correct Answer: proportion to quota allotted to countries from time to time
   
1322) Consider the following statements on Bay of Bengal initiative for Multi sectoral Technical and Economic Cooperations.
1. BIMSTEC has seven members Bangladesh, Bhutan, India Myanmar, Sri Lanka and Thailand.
2. BIMSTEC provides a link between South Asia and South East Asia by way of economic cooperation and linkages in identified areas Of cooperation
3. BIMSTEC was rechristened a BISTEC in the year 2014
Select the correct answer using the Coded given below
A) Only 1
B) Only 2
C) 1 and 2
D) 1, 2 and 3
Correct Answer: 1 and 2
   
1323) Which one of the following is not correct in the context of balance of payments of India during 2013-14?
A) India's exports were less than its imports.
B) Trade balance was negative
C) Net invisibles were positive
D) Capital account balance was negative.
Correct Answer: Capital account balance was negative.
   
1324) Which one of the following is not a member of MERCOSUR (Southern Common Market)?
A) Argentina
B) Paraguay
C) Uruguay
D) Chile
Correct Answer: Chile
   
1325) Which one among the following does not form part of current account of Balance of Payments ?
A) Export and import of goods
B) Export and import of services
C) Income receipts and payments
D) Capital receipt and payments
Correct Answer: Capital receipt and payments

1326) Consider the following statements relating to the World Banks.
1. The World Bank was established in 1946, which is headquarters in New York
2. The World Bank Group has set for itself the goal to end extreme poverty from the world by 2030.
3. The World Bank is a vital source of financial and technical assistance to developing countries around the world. It is not a bank in the ordinary sense but a unique partnership to reduce poverty and support development.
4. In World Bank Group comprises five institution managed by there member countries in order to promote shared prosperity by fostering the income growth of the bottom 40% for every country.
Which of the statement given above are correct?
A) 1, 2 and 3
B) 2, 3 and 4
C) 1, 3 and 4
D) 2 and 4
Correct Answer: 2, 3 and 4
   
1327) Which of the following theories form the basis of International trade?
1. Absolute cost differences
2. Comparative cost difference
3. Opportunity cost
Select the correct answer using the codes given below
A) Only 1
B) Only 2
C) 1 and 2
D) 1, 2 and 3
Correct Answer: 1, 2 and 3
   
1328) With reference to a grouping of countries known as BRICS, consider the following statements :
1. The first summit of BRICS was held in Rio - etc janerio in 2009
2. South Africa was the last to join the BRICS grouping
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   
 
1329) Which of the following organisations brings out the publication known as World Economic Outlook?
A) The International Monetary fund
B) The United Nations Development Programme
C) The World Economic Forum
D) The World Bank
Correct Answer: The International Monetary fund
   
1330) In which of the following years was the trade balance favourable to India ?
A) 1970-71 and 1974-75
B) 1972-73 and 1976-77
C) 1972-73 and 1975-76
D) 1971-72 and 1976-77
Correct Answer: 1972-73 and 1976-77