The International Monetary Fund and the World Bank were established at: MCQ with Answer and Explanation

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The International Monetary Fund and the World Bank were established at:

A. the Geneva Conference

B. the UN General Assembly

C. the Doha Round

D. the Bretton Woods Conference

Answer: Option D

Solution (By JKSSB Mock Tests)

The IMF and World Bank were established at the Bretton Woods Conference in 1944.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is NOT a type of inflation based on speed?

A. Demand-pull inflation

B. Creeping inflation

C. Galloping inflation

D. Walking inflation

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Correct Answer: Option A

Explanation:
Demand-pull inflation is a classification based on cause. Based on speed/intensity, inflation is classified as creeping, walking, running and galloping (or hyperinflation).

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on call centre services is:

A. 28%

B. 18%

C. 5%

D. 12%

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Correct Answer: Option B

Explanation:
Call centre services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of the 'Risk-Sharing' benefits of international financial integration?

A. Only closed economies can smooth consumption

B. Integration always increases consumption volatility

C. Countries can smooth consumption in the face of idiosyncratic shocks by trading claims on future output

D. Risk-sharing is irrelevant for welfare

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Correct Answer: Option C

Explanation:
International risk-sharing allows countries to diversify away country-specific income shocks by holding foreign assets, thereby reducing the volatility of national consumption relative to national output.

This question belongs to: Economy GK Economy Set 1

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