The 'International Finance Corporation' is a member of the: MCQ with Answer and Explanation

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The 'International Finance Corporation' is a member of the:

A. United Nations only

B. World Bank Group

C. IMF

D. WTO

Answer: Option B

Solution (By JKSSB Mock Tests)

IFC is a member of the World Bank Group.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Factories Act' in India was enacted in which year?

A. 1956

B. 1950

C. 1948

D. 1947

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Correct Answer: Option C

Explanation:
The Factories Act was enacted in 1948.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'demographic transition' refers to changes in:

A. birth and death rates

B. income distribution

C. inflation

D. exchange rates

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Correct Answer: Option A

Explanation:
Demographic transition refers to shifts in birth and death rates as an economy develops.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of the 'First-Generation' models of currency crises?

A. Crises never involve reserve losses

B. Crises are purely self-fulfilling without any fundamental weakness

C. Crises result from inconsistent fundamentals, typically persistent fiscal deficits financed by money creation under a fixed exchange rate

D. Only banking-sector problems matter

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Correct Answer: Option C

Explanation:
First-generation models (Krugman, Flood-Garber) show that a steadily deteriorating fiscal position financed by credit expansion leads to a speculative attack that exhausts reserves and forces the abandonment of the fixed exchange rate.

This question belongs to: Economy GK Economy Set 1

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