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Prelims-IAS –ECONOMICS MCQ Ans-34

1…

  • ANS-A
  • In the new formula, variables are: gdp (40% ppp terms, 60% mkt prices), openness (international trade), forex reserve and variablity (current receipts).

2…

  • ANS-A
  • 2% of alloted share can be repaid in terms of gold,USD or SDR. 18% in terms of country’s own currency.

3…

  • ANS-B
  • Chinese renminbi was added to IMF basket in December 2015.
  • The IMF has credit arrangement – GAB – General Arrangements to Borrow and NAB – New Arrangements to Borrow, as the supplementing source of financing to the major funds received through quota subscriptions of member countries.

4… 

  • ANS-B
  • The World Bank Group consists of 5 agencies – IBRD, IDA, MIGA, IFC and ICSID, which were established after the ratification of Bretton Woods agreements.

5…

  • ANS-C
  • The World Bank – IBRD is an international organization owned by member governments; although it makes profits, these profits are used to support continued efforts in poverty reduction.

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