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Prelims-IAS – ECONOMICS MCQ-36

1..Compulsory Licensing has been an issue of dispute between Government of India and Multinational Drug Companies. Consider the following statements regarding this:

  1. Compulsory Licensing allows a government to temporarily override a patent.
  2. It is in violation of WTO TRIPS agreement.
  3. It allows generic copies of a patented product to be produced domestically, without compensation paid to patent holder.

Which of the statements given above is/are correct?
(a) 1 only
(b) 2 and 3 only

(c) 1 and 3 only
(d) 1 and 2 only

2.. Consider the following statements with respect to international financial institutions:

1. World bank includes international development association, international bank for reconstruction and development.
2. International finance corporation lends money to developing countries at low interest rates.
3. Multilateral Investment Guarantee Agency encourages investment in developing countries.Which of the statement(s) given above is/are correct?

(a)  2 only

(b)  1 and 3 only
(c)  2 and 3 only
(d)  1, 2 and 3

3.. Which of the following statements about SDRs is/are correct?

  1. SDRs can be exchanged for national currencies.
  2. SDR is a claim on the IMF.
  3. SDR’s value is based on weighted average of IMF members’ currencies.

(a)  1 and 2

(b)  3 only
(c)  2 and 3
(d)  1 only

4.. Which of the following statements is/are true about World Bank?

  1. It acquires financial resources by borrowing from international bond market.
  2. It encourages private enterprises of developing countries.
  3. IMF membership is required to attain WB membership.

Select the correct answer using the code given below.
(a) 1, 2
(b) 2, 3

(c) 1, 3
(d) 1, 2, 3

5.. Consider the following statements with reference to IMF:

  1. IMF lends to specific development projects.
  2. IMF promotes exchange rate stability.
  3. IMF fights money laundering and financing of terrorism.

Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 2 only


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