Ramesh Singh Test: Foreign Trade
20 Questions MCQ Test Indian Economy for UPSC CSE | Ramesh Singh Test: Foreign Trade
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Which of the following is a part of capital account?
Capital account is classified into 3 parts in India- private, banking and official capital.
Consider the following statements and identify the right ones.
i. A double entry system of record of all economic transactions between the residents of a country and rest of the world is called balance of trade
ii. All transactions related to goods, services or income are classified as capital account.
i. A double entry system of record of all economic transactions between the residents of a country and rest of the world is called balance of trade
ii. All transactions related to goods, services or income are classified as capital account.
A double entry system of record of all economic transactions between the residents of a country and rest of the world is called balance of payments. All transactions related to goods, services or income are classified as current account.
The investment in productive assets and participation in management as stake holders in business enterprises is
The investment in productive assets and participation in management as stake holders in business enterprises is foreign direct investment.
The portfolio investment by foreign institutional investors is called
The portfolio investment by foreign institutional investors is called foreign institutional investment.
Consider the following statements and identify the right ones.
i. India adopted LERMS in 1992
ii. In 1993, dual exchange rate system was replaced by a unified floating exchange rate.
Liberalized Exchange Rate Management System was a dual exchange rate system in which 40% of forex earnings were converted at official exchange rate and 60% at market determined exchange rate.
Consider the following statements and identify the right ones.
i. IMF came into existence as an outcome on Bretton Woods agreement
ii. France was the 1st country to borrow from IMF
IMF oversees the international monetary system.
Consider the following statements and identify the right ones.
i. The executive board is the highest decision making body of IMF
ii. The Board of Governors meets twice a year.
The Board of Governors is the highest decision making body of IMF. The Board of Governors meets once a year.
Consider the following statements and identify the right ones.
i. Executive board conducts the business of the IMF
ii. It meets once in a year
Executive board conducts the business of the IMF. It functions in continuous session and meets several times in a week.
Consider the following statements and identify the right ones.
i. The day to day work of IMF is conducted by the board of governors
ii. Selected nations who are members of IMF are given a quota
The day to day work of IMF is conducted by the executive board. All the nations are assigned a quota.
Consider the following statements and identify the right ones
i. The quota does not decide voting power in IMF’s decisions
ii. Quota subscription constitutes most of the financial resources of IMF
The quota decides voting power in IMF’s decisions. Quota subscription constitutes most of the financial resources of IMF.
Consider the following statements and identify the right ones.
i. SDRs cannot voluntarily be exchanged among members for currencies
ii. US is the largest member of the IMF
SDRs can voluntarily be exchanged among members for currencies.
Which of the following is an institution of World Bank?
World Bank has five institutions- IBRD, IDA, International Finance Corporation, MIGA and ISCID.
Consider the following statements and identify the right ones.
i. Low income countries are eligible to receive low interest loans from IDA
ii. India is eligible for a blend of financial assistance from IDA and IBRD
IBRD aims at reducing poverty in middle income and credit-worthy poor countries.
Which of the following is not an objective of World Bank?
World Bank provides long term capital to member countries for economic reconstruction and development.
Which of the following is known as soft loan window of the World Bank?
IDA was established in 1960. It aims at reducing poverty by providing interest free credits and grants for economic growth.
IFC was established in 1956. It is known as the investment arm of the World Bank.
MIGA is known as the insurance arm of World Bank. It was established in 1988.
Consider the following statements and identify the right ones.
i. IFC is governed by board of governors
ii. It mobilizes capital in international capital markets
International Finance Corporation is governed by board of governors who are represented by member countries.
Consider the following statements and identify the right ones.
i. ICSID is a multilateral treaty formulated by executive directors of IBRD
ii. All the countries have deposited their instruments of ratification, acceptance of the convention.
Not all the countries have deposited their instruments of ratification, acceptance of the convention.
Consider the following statements and identify the right ones.
i. The head of WTO is known as director general
ii. The WTO summit is held once in very year
The WTO summit is held once in two years. The summit is known as Ministerial Conference.
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131 videos|328 docs|138 tests
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