The 'Bretton Woods twins' refer to: MCQ with Answer and Explanation

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The 'Bretton Woods twins' refer to:

A. UNESCO and FAO

B. ILO and WHO

C. IMF and World Bank

D. WTO and UNCTAD

Answer: Option C

Solution (By JKSSB Mock Tests)

The IMF and World Bank are known as the Bretton Woods twins.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'FDI' in insurance sector is allowed up to what percentage?

A. 100%

B. 74%

C. 26%

D. 49%

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Correct Answer: Option B

Explanation:
FDI in insurance is allowed up to 74%.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'C2 cost' in agriculture includes A2 plus family labour plus:

A. interest on land and fixed capital

B. only pesticide cost

C. only seed cost

D. only fertilizer cost

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Correct Answer: Option A

Explanation:
C2 cost includes A2 plus family labour plus interest on land and fixed capital.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is NOT a function of the World Trade Organisation?

A. Providing long-term development finance

B. Settling trade disputes

C. Administering trade agreements

D. Providing a forum for trade negotiations

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Correct Answer: Option A

Explanation:
Long-term development finance is the function of the World Bank. The WTO deals with trade rules, negotiations and dispute settlement.

This question belongs to: Economy GK Economy Set 1

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