Test: World Panorama - 2 (2016 - 2015)


15 Questions MCQ Test UPSC Topic Wise Previous Year Questions | Test: World Panorama - 2 (2016 - 2015)


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QUESTION: 1

Which of the following is not a member of ‘Gulf Cooperation Council’?

[2016]

Solution:

Iran is not the member of this middle eastern organization.
Gulf Cooperation Council (GCC) is a political and economic alliance of six Middle Eastern countries— Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman.

QUESTION: 2

‘Doctors Without Borders (Medecins Sans Frontieres)’, often in the news, is

[2016]

Solution:

It is a non-governmental and non-military organization established by group of French doctors in 1971 - with its Headquarter in Brussels, Belgium. They were in news during 2014-15 because of their relief work in Ebola affected countries.

QUESTION: 3

Consider the following statements:
The India-Africa Summit
1. held in 2015 was the third such Summit
2. was actually initiated by Jawaharlal Nehru in 1951

Which of the statements given above is/are correct?

[2016]

Solution:
  • 1st statement is right: Third India-Africa Forum Summit was held in New Delhi (India) in from from 26– 30 October 2015 under the theme: “Partners in Progress: Towards a Dynamic and Transformative Development Agenda”
  • 2nd statement is wrong: because First Summit was held in New Delhi in April 2008. Therefore, it can’t be Nehru’s brainchild.
QUESTION: 4

Which of the following is/are the indicator/indicators used by IFPRI to compute the Global Hunger Index Report?
1. Under nourishment
2. Child stunting
3. Child mortality

Select the correct answer using the code given below.

[2016]

Solution:

Four Indicators are undernourished population, wasting in Under 5 children; wasting is very low weight for height i.e very thin child; Stunting in under 5 children; stunting is very low height for age i.e. very short child; Under 5 mortality rate.

QUESTION: 5

India’s ranking in the ‘Ease of Doing Business Index’ is sometimes seen in the news. Which of the following has declared that ranking?

[2016]

Solution:

The ease of doing business index is an index created by the World Bank Group. It is an annual report on the state of health of economies based on detailed diagnostics not of the relatively more visible features (such as growth) and various macroeconomic parameters (such as the public debt) but of underlying and embedded characteristics.

QUESTION: 6

With reference to the International Monetary and Financial Committee (IMFC), consider the following statements:
1. IMFC discusses matters of concern affecting the global economy, and advises the International Monetary Fund (IMF) on the direction of its work.
2. The World Bank participates as observer in IMFC’s meetings.

Which of the statements given above is/are correct?

[2016]

Solution:

(i) The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the International Monetary and Financial System. It also considers proposals by the Executive Board to amend the Articles of Agreement and advises on any other matters that may be referred to it by the Board of Governors. A number of international institutions, including the World Bank, participate as observers in the IMFC’s meetings.
(ii) Both statements are right as per the official IMF page: April 5, 2016.

QUESTION: 7

Consider the following statements:
1. New Development Bank has been set up by APEC.
2. The headquarters of New Development Bank is in Shanghai.

Which of the statements given above is/are correct?

[2016]

Solution:

(i) The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a Multilateral Development Bank established by the BRICS states (Brazil, Russia, India, China and South Africa). Its headquarter is in Shanghai, China.
(ii) First statement is wrong- its BRICS nations. 2nd is right - HQ is Shanghai.

QUESTION: 8

With reference to ‘IFC Masala Bonds’, sometimes seen in the news, which of the statements given below is/are correct?
1. The International Finance Corporation, which offers these bonds, is an arm of the World Bank.
2. They are the rupee-denominated bonds and are a source of debt financing for the public and private sector.

Select the correct answer using the code given below.

[2016]

Solution:

(i) (a) The International Finance Corporation (IFC), the investment arm of the World Bank, issued a ₹ 1,000 crore bond to fund infrastructure projects in India.
(b) These bonds were listed on the London Stock Exchange (LSE).
(c) They are rupee-denominated bonds issued to overseas buyers.
(d) The purpose of the issue was to fund infrastructure projects in India. IFC named them ‘masala’ bonds to reflect the Indian angle to it.
(ii) First statement is right and Second statement initial part is also correct- they’re rupee denominated and ‘debt’ type of instrument. We’ve to check whether public sector firms also use it. answer is yes.
Hence both are correct.

QUESTION: 9

Recently, which one of the following currencies has been proposed to be added to the basket of IMF’s SDR?  

[2016]

Solution:

The value of the SDR or XDR of IMF is based on a basket of key international currencies reviewed every five years. In the review conducted in November 2015, the IMF decided that the Renminbi (Chinese Yuan) would be added to the basket effective October 1, 2016. From that date, the SDR or XDR basket will consist of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Chinese Yuan 10.92%, Japanese Yen 8.33%, British Pound 8.09%.

QUESTION: 10

In the context of which of the following do you sometimes find the terms ‘amber box, blue box and green box’ in the news?

[2016]

Solution:

In WTO terminology, subsidies in general are identified by “Boxes” which are given the colours of traffic lights: green (permitted), amber (slow down — i.e. be reduced), red (forbidden).

QUESTION: 11

The term ‘Regional Comprehensive Economic Partnership’ often appears in the news in the context of the affairs of a group of countries known as

[2016]

Solution:

Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement (FTA) between the ten member states of the Association of Southeast Asian Nations (ASEAN) (Brunei, Burma (Myanmar), Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, Vietnam) and the six states with which ASEAN has existing FTAs (Australia, China, India, Japan, South Korea and New Zealand).

QUESTION: 12

‘European Stability Mechanism’, sometimes seen in the news, is an

[2016]

Solution:

The European Stability Mechanism is a European Union agency that provides financial assistance, in the form of loans, to eurozone countries or as new capital to banks in difficulty.

QUESTION: 13

Which one of the following issues the 'Global Economic Prospects' report periodically?

[2015]

Solution:

The World Bank issues the 'Global Economic Prospects' report periodically.

QUESTION: 14

Amnesty International is

[2015]

Solution:

Amnesty International is a non-governmental organisation focused on human rights. It was founded in London in 1961 by the lawyer Peter Benenson. It draws attention to human rights abuses and campaigns for compliance with international laws and standards.

QUESTION: 15

Consider the following countries
1. China
2. France
3. India
4. Israel
5. Pakistan

Which among the above are Nuclear Weapons States as recognized by the Treaty on the Non-Proliferation of Nuclear Weapons, commonly known as Nuclear Non-Proliferation Treaty (NPT)?

[2015]

Solution:

NPT designated nuclear weapon states are China, France, Russia, United Kingdom and the United States. The NPT is a landmark international treaty whose objective is to prevent the spread of nuclear weapons and weapons technology and to promote cooperation in the peaceful uses of nuclear energy and to further the goal of achieving nuclear disarmament and complete disarmament. It is opened for signature in 1968 and the Treaty entered into force in 1970.