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Indian Economy Test
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Indian Economy Test 16
Read Instructions for the test.
Negative marks are -0.33 per wrong answer
Right answer is 1 mark
No time limit but finish in 30 mins
Solution can be found at below chapters:
Test series is based on following chapters.
Indian Economy Chapter 7: WTO IMF WB
Indian Economy Chapter 8: ECONOMIC BODIES
Q1: Agriculture research, farmer training, drought relief and pest control come under which category of subsidies under WTO agreement on agriculture
Q2: Subsidies that do not increase with production like subsidies linked with acreage or number of animals come under which category of subsidies under WTO agreement on agriculture.
Q3: Fertilizer subsidies, power subsidies, irrigation subsidies etc. which cause trade distortions come under which category of subsidies under WTO agreement on agriculture.
Q4:Green, amber, blue box is related to which organization
Q5: WTO Agreement on Agriculture seeks to reduce subsidies of type
Q6: WTO Agreement on Agriculture has three pillars
Q7:WTO wants to limit the Amber box subsidies as follows
developed nations should cap them at 5% of the value of food grains produced
developing nations should cap them at 10% of the value of production
Q8:India opposed WTO agreement on agriculture due to
it would have prevented them from meeting their obligations of MSP and Food security
There was no logic in keeping the prices capped at 1986 limits as inflation wasn't considered.
Q9: During the Bali summit 2013, three important agreement were discussed
Trade facilitation agreement
Public stock holding limits
No duty on Least developed countries exports.
Q10: Trade facilitation Agreement is the
no duty on exports of LDC's
remove subsidies on agriculture
free trade between nations
standardizes and simplifies customs procedures
Q11: The chief goal of World Bank is
Reduction of Poverty
reduce global warming
help balance of payments
Q12: The president of the World Bank by convention is an ____ citizen
Q13: HQ of World bank is in
Q14: International Bank for Reconstruction and Development
provides loans at market rates or debt financing to member countries
fund projects that want to improve access to food, potable water, healthcare, transport, energy, education
mandate is to advance worldwide economic development and eradicate poverty.
Q15: International Development Association
provides concessional loans, soft loans and grants to poorest developing nations of the world
Usually countries with credit risk so prohibitive that they cant afford to seek loans from other World Bank programs are granted funds here.
both a and b
Q16: International Finance Corporation
offers investment, advisory, asset management services to private sector
works with private sector in developing countries to create opportunities for all.
Q17: Multilateral Investment Guarantee Agency
provides insurance against risks ncluding political risks to private sector in developing countries
Non commercial risks in developing countries are safeguarded by this organisation
Q18: International Center for Settlement of Investment Disputes.
arbitration institution that aims to resolve disputes between international investors and developing country governments
provides for support to organizations that solve such disputes
Q19: Agencies of World bank dont include
International Bank for Reconstruction and Development
International Development Association
International Finance Corporation
Q20: False statement about World Bank
international financial organization formed after the Bretton woods conference in 1944 in USA.
chief goal of World Bank is Reduction of Poverty
The president of the World Bank has always been an American citizen.
Afghanisthan is the latest member
Q21:World bank and IMF lend to
only member countries
only poor countries
only rich countries
Q22: Top five quota holders of IMF
USA, UK, Japan, Germany, France
USA, UK, Japan, Italy, France
USA, UK, China, Germany, France.
USA, Russia, Japan, Germany, France
Q23: National Infrastructure and Investment Fund
It is a Fund of Funds created under Indian Trusts Act and controlled by Dept of Economic affairs
total corpus of the fund is Rs. 40000 crores
50% of it is from the government and rest from other sources.
Q24:National Infrastructure and Investment Fund
It is a Category 2 - Alternate Investment Fund that can invest in financially viable Greenfield and Brownfield projects.
Budget 2015 sanctioned it
Q25:Deposit Insurance and Credit Guarantee Corporation
Wholly owned subsidiary of RBI
to provide insurance on deposits and guaranteeing on credit facilities
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