The 'International Monetary Fund' was established in 1944 but began operations in which year? MCQ with Answer and Explanation

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The 'International Monetary Fund' was established in 1944 but began operations in which year?

A. 1952

B. 1950

C. 1947

D. 1945

Answer: Option C

Solution (By JKSSB Mock Tests)

The IMF began operations in 1947.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Reserve Bank of India' publishes which report?

A. Economic Survey

B. Annual Report and Financial Stability Report

C. Human Development Report

D. World Development Report

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Correct Answer: Option B

Explanation:
RBI publishes Annual Report and Financial Stability Report.

This question belongs to: Economy GK Economy Set 1

Question #2

The Second Five Year Plan was based on which model?

A. Rostow

B. Solow

C. Mahalanobis

D. Harrod-Domar

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Correct Answer: Option C

Explanation:
The Second Five Year Plan was based on the Mahalanobis model.

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. Integration always increases consumption volatility

B. Only closed economies can smooth consumption

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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