Economic and Social Development 447

17. World Bank, WTO, BRICS

1. Who coined the term ‘BRIC’ in (B) 1st January, 1995 2. International Finance
2001? [UKPCS (Pre) 2016] (C) 1st April, 1994 Corporation
(A) Jim O’ Neil (D) 1st May, 1995 3. International Fund for
(B) Barack Obama 11. The earlier name of WTO was Agricultural Development
(C) John Kennedy [UPSC (Pre) 2001] 4. International Monetary Fund
(D) Vladimir Putin (A) UNCTAD (B) GATT Which of these are agencies of the
2. The British scholar Jim O’ Neil who (C) UNIDO (D) OECD United Nation? [UPSC (Pre) 2001]
coined the term ‘BRICS’ is related to 12. The headquarters of World Trade (A) 1 and 2 (B) 2 and 3
which of the following subjects? Organisation is at (C) 3 and 4 (D) 1, 2, 3 and 4
[UKPCS (Pre) 2016] [UPPCS (Mains) 2007] 18. Which of the following were the aims
(A) Psychology (A) Doha (B) Geneva behind the setting up of the World
(B) Sociology (C) Rome (D) New York Trade Organisation (WTO)?
(C) Political Science 13. Which among below is not a correct 1. Promotion of free trade and
(D) Economics statement? [HCS (Pre) 2014]
resources flow across countries.
3. In which year ‘BRIC’ grouping was 2. Protection of intellectual property
(A) Bretton Woods Conference gave
formed as ‘BRICS’? rights.
birth to two international
[UKPCS (Pre) 2016] organisations 3. Managing balanced trade
(A) 2010 (B) 2015 between different countries.
(B) Theory of Absolute Advantage in
(C) 2009 (D) 2012 international trade is given by 4. Promotion of trade between the
Adam Smith former East Bloc countries and
4. The first ever summit meeting of the Western World.
‘BRICS countries’ took place at (C) Pure and perfect competition are
[UKPCS (Pre) 2011] the same market structures Select the correct answer using the
(D) Mint parity theory of exchange codes given below.[UPSC (Pre) 1996]
(A) Brazil (B) India
rate determination is applicable (A) 1, 2, 3 and 4 (B) 1 and 2
(C) Russia (D) China
in countries under gold standard (C) 2 and 3 (D) 1 and 4
5. Which one of the following is not a
member of ‘BRICS’? 14. The central issue in Doha Round of 19. One of the important agreements
talks of World Trade Organisation reached in the 1996 Ministerial
[UKPCS (Pre) 2014]
was [UKPCS (Pre) 2016] conference of WTO refers to
(A) India [UPSC (Pre) 1997]
(B) China (A) Issue related to agriculture
(B) Export from developing (A) Commerce in Information
(C) Saudi Arabia Technology
countries
(D) Brazil (B) Multilateral Agreement on
(C) Trade in service
6. Which one of the following countries (D) Intellectual property right Investment
was introduced in ‘BRICS’ in the related to trade (C) Multi Fibre Agreement
last? [UKPCS (Mains) 2014] (D) Exchange of Technical
15. International Development
(A) India (B) China Association (IDA) is managed by Personnel
(C) South Africa (D) Brazil [UPSC (Pre) 1999] 20. How is the United Nations Monetary
7. How many countries are members of (A) World Bank and Financial Conference wherein the
World Bank? [UKPCS (Pre) 2016] (A) (B) International Monetary Fund agreements were signed to set-up
189 (B) 181 IBRD, GATT and IMF, commonly
(C) UNO known?
(C) 164 (D) 193 (D) U.S. Federal Bank
8. In which year was the World Bank [Tamil Nadu PSC (Pre)
16. The International Development 2017
formed? [MPPSC (Pre) 2005]
Association, a lending agency, is UPSC (Pre) 2008]
(A) 1945 (B) 1956 administered by the
(C) 1960 (D) 1998 (A) Bandung Conference
[UPSC (Pre) 2010
9. Which of the following is also known (B) Bretton Woods Conference
UKPCS (Pre) 2016]
as International Bank for (C) Versailles Conference
(A) International Bank of Recon-
Reconstruction and Development? struction and Development (D) Valta Conference
[HCS (Pre) 2014] (B) International Fund for 21. The Bretton Woods Conference led to
(A) Asian Development Bank Agricultural Development the establishment of
(B) World Bank [UKPCS (Pre) 2014]
(C) United Nations Development
(C) International Monetary Fund Programme 1. I.M.F.
(D) Reserve Bank of India (D) United Nations Industrial 2. I.B.R.D.
10. The new World Trade Organisation Development Organisation 3. United Nations
(WTO), which replaced the GATT 17. Consider the following operations. 4. W.T.O.
came into effect from 1. International Bank for Recon- Code
[HCS (Pre) 2014] struction and Development (A) 1 and 2 (B) 1, 2 and 3
(A) 1st January, 1991 (C) 1 and 3 (D) 1, 2, 3 and 4
448 Objective General Studies
22. On the basis of size and composition 27. India enacted the Geographical statements, select the correct
of external debt, World Bank has Indications of Goods (Registration answer from the codes given below.
classified India as and Protection) Act, 1999 in order to [UPSC (Pre) 2003]
[UPPCS (Mains) 2009] comply with the obligations to Code
(A) A moderately indebted country [UPSC (Pre) 2018] (A) Both (A) and (R) are true and
(B) A less indebted country (A) ILO (B) IMF (R) is the correct explanation of
(C) A heavily indebted country (C) UNCTAD (D) WTO (A)
(D) A critically indebted country 28. Match List-I with List-II and select (B) Both (A) and (R) are true, but
23. Which of the following ‘BRICS’ the correct answer using the codes (R) is not the correct explanation
nation has highest per capita income? given below the lists. of (A)
[UPPCS (Mains) 2010] [UPSC (Pre) 1999] (C) (A) is true, but (R) is false
(A) China List-I (D) (A) is false, but (R) is true
(B) India (a) WTO (b) IDA 30. Assertion (A): The United States of
(c) IMF (d) IBRD America has threatened to ask the
(C) South Africa
List-II World Trade Organisation (WTO) to
(D) Russian Federation apply sanctions against the
24. Which one of the following countries 1. Provides loans to address short
term balance of payment developing countries for the non-
is not a member of WTO? observance of ILO conventions.
[UPPCS (Mains) 2016] 2. Multilateral trade negotiation
body Reason (R): The United States of
(A) Slovenia (B) Serbia America itself has adopted and
3. Sanction of soft loans
(C) Slovakia (D) Columbia implemented those ILO conventions.
4. Facilitating lending and
25. A group formed by India, Brazil, borrowing for reconstruction and In context of the above two
China and other developing countries development statements which one of the
for future negotiations at WTO is following is correct?
known as [UPPCS (Pre) 2004] Code
[UPSC (Pre) 1998]
(A) G-77 (B) G-55 (a) (b) (c) (d)
Code
(C) G-33 (D) G-11 (A) 2 3 4 1
(A) Both (A) and (R) are true and
(B) 3 2 4 1
26. TRIMS stands for [BPSC (Pre) 2018] (R) is the correct explanation of
(C) 2 3 1 4 (A)
(A) Trade-Related Income
(D) 3 2 1 4 (B) Both (A) and (R) are true, but
Measures
29. Assertion (A): The new EXIM (R) is not the correct explanation
(B) Trade-Related Incentives
policy is liberal, market oriented of (A)
Measures
and favours global trade. (C) (A) is true, but (R) is false
(C) Trade-Related Investment
Measures Reason (R): GATT has played a (D) (A) is false, but (R) is true
significant role in the liberalisation of
(D) Trade-Related Innovative the economy.
Measures
In the context of the above two

Answer Sheet
1. (A) 2. (D) 3. (A) 4. (C) 5. (C) 6. (C) 7. (A) 8. (A) 9. (B) 10. (B)
11. (B) 12. (B) 13. (C) 14. (B) 15. (A) 16. (A) 17. (D) 18. (A) 19. (A) 20. (B)
21. (A) 22. (B) 23. (D) 24. (B) 25. (C) 26. (C) 27. (D) 28. (C) 29. (D) 30. (B)

18. Other Institutions

1. The emerging trading blocs in the 2. Which one of the following countries (B) International Bank of Recon-
world, such as NAFTA, ASEAN and occupies the first place in the ‘Global struction and Development
the others are expected to Competitive Report’ of World (C) World Trade Organisation
[UPSC (Pre) 1996] Economic Forum? (D) International Monetary Fund
(A) act as constriction in free trade [UPSC (Pre) 2000] 4. Under which agreement Monetary
across the world (A) USA Fund was established?
(B) promote free trade on the line (B) Singapore [UKPCS (Pre) 2014]
laid down by the WTO (C) Hong Kong (A) Bretton Woods Agreement
(C) permit transfer of technology (D) Switzerland (B) Bretton Stone Agreement
between member countries 3. ‘World Development Report’ is an (C) S. Wood Agreement
(D) promote trade in agricultural annual publication of (D) U. Thant Agreement
commodities between [UPSC (Pre) 2002]
countries of the North and South 5. Which among the following is not a
(A) United Nations Development function of International Monetary
Programme Fund? [HCS (Pre)
2014]