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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
green box
blue box
amber box
red box
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.
green box
amber box
blue box
red box
Q3: Fertilizer subsidies, power subsidies, irrigation subsidies etc. which cause trade distortions come under which category of subsidies under WTO agreement on agriculture.
green
red
amber
blue
Q4:Green, amber, blue box is related to which organization
IMF
BRICS
WTO
UNEP
Q5: WTO Agreement on Agriculture seeks to reduce subsidies of type
green box
blue box
amber box
red box
Q6: WTO Agreement on Agriculture has three pillars
Market Access
Export competition
Domestic support
all
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
both
none
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.
both
none
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.
all
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
fre trade
reduce global warming
help balance of payments
Q12: The president of the World Bank by convention is an ____ citizen
European
American
French
none
Q13: HQ of World bank is in
New york.
London.
Brussels.
Washington
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.
all
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
none
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.
both
none
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
both
none
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
both
none
Q19: Agencies of World bank dont include
International Bank for Reconstruction and Development
International Development Association
International Finance Corporation
Peace corps
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
any country
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.
all
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
both
none
Q25:Deposit Insurance and Credit Guarantee Corporation
Wholly owned subsidiary of RBI
to provide insurance on deposits and guaranteeing on credit facilities
HQ- Mumbai
all
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