UPSC Level 2 Economics Prelims Quiz #9

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Chief Mentor at Oracle IAS

Hemant Bhatt is a B. Tech from Pantnagar University and has studied Social Sciences at SciencesPo, Paris. He teaches at Oracle IAS, Dehradun.
He is a bibliophile and a fitness enthusiast.

#1. Consider the following statements: 1. The International Monetary Fund (IMF) is an organization of 200 countries. 2. The IMF’s quota system was created to raise funds for loans. 3. Quotas are denominated in Special Drawing Rights (SDRs). 4. The largest member of the IMF is the United States. Which of the statements given above is/are correct?

1and 2

2 and 3

1 and 3

2, 3 and 4

#2. Consider the following statements regarding London Interbank offered Rate (LIBOR): 1. The rate at which banks in London lend money to each other for the short-term in a particular currency. 2. World’s most widely used benchmark for long-term interest rates. 3. Bank of America, Citigroup have been sued in setting the daily Libor rate. Which of the statements given above is/are correct?

1 only

1 and 3

1 and 2

1, 2 and 3

#3. Too much import of gold by India adversely affects: 1. Trade balance 2. Current account balance 3. Capital account balance Choose the correct option from the codes given below:

1 and 2

2 and 3

1 , 2 and 3

1 and 3

#4. Consider the following statements relating to the World Bank : 1. The World Bank was established in 1946, which is headquartered 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 fnancial 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. The World Bank Group comprises fve institutions managed by their member countries in order to promote shared prosperity by fostering the income growth of the bottom 40% for every country. Which of the statements given above are correct?

1, 2 and 3

2, 3 and 4

1, 3 and 4

2 and 4 only

#5. Consider the following statements: 1. G8 members are Canada, France, Germany, Italy, Japan, the United Kingdom, the US and Russia. 2. Russia was suspended in 2014. 3. The European Union has been represented within the G8. Which of the statements given above is/are correct?

1 only

2 only

1 and 2

1, 2 and 3

#6. Which of the following best defnes a ﬂoating-rate bond?

A bond with a fxed interest rate and has better yield than varying interest rate bond

A bond with a fxed interest rate and has lower yield than varying interest rate bond

A bond with a varying interest rate and has better yield than fxed interest rate bond

A bond with a varying interest rate and has lower yield than fxed interest rate bond

#7. Consider the following statements: 1. FICCI is the largest and oldest apex business organization in India. 2. FICCI is established in 1957. Which of the statements given above is/are in correct?

1 only

2 only

1 and 2

None

#8. Which of the following statements about International Monetary Fund (IMF) are correct ? 1. The IMF is a United Nations specialized agency. 2. The IMF was founded at the Bretton Woods Conference in 1944 to secure international monetary cooperation. 3. The objective of the IMF is to stabilize currency exchange rates, and to expand international liquidity (access to hard currencies). Select the correct answer using the code given below

1, 2 and 3

2 and 3 only

1 and 2 only

1 and 3 only

#9. The BASIC countries are a bloc of four larger developing countries. Which one of the following is not a BASIC country?

Brazil

Switzerland

India

China

#10. As per the report released by the Union Ministry of Drinking Water and Sanitation, which Indian state became the only state in India to achieve 100% sanitation?

Mizoram

Sikkim

Uttar Pradesh

Andhra Pradesh

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Author
Recent Posts

Hemant Bhatt

Chief Mentor at Oracle IAS

Hemant Bhatt is a B. Tech from Pantnagar University and has studied Social Sciences at SciencesPo, Paris. He teaches at Oracle IAS, Dehradun.
He is a bibliophile and a fitness enthusiast.