Economics (Part – XI) - Mock Test 365

Total Questions: 50

1. The BRICS New Development Bank (NDB) is headquartered at: [S.S.C. Online C.G.L.(T-I) 6.09.2016 (Shift-III)]

(a) Shanghai
(b) New Delhi
(c) Brasilia
(d) Moscow

Correct Answer: (a) Shanghai

Solution:

The BRICS New Development Bank (NDB) is headquartered in Shanghai, China with regional offices in South Africa and Brazil. Mr. K.V. Kamath from India was the first President of the NDB (2015-2020).

2. The BRICS New Development Bank (NDB) has been set up for : [S.S.C. Online C.G.L.(T-I) 11.09.2016 (Shift-I)]

(a) Funding infrastructure projects in emerging economies for sustainable development
(b) Funding non-infrastructure projects in emerging economies for sustainable development
(c) Funding infrastructural projects in developed countries
(d) Funding infrastructural projects in BRICS countries only BRICS

Correct Answer: (a) Funding infrastructure projects in emerging economies for sustainable development

Solution:The New Development Bank (NDB) is a multilateral development bank (MDB) established by Brazil, Russia, India, China and South Africa (BRICS) with the objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries. NDB's work complements the efforts of multilateral and regional financial institutions, toward global growth and development.

3. Which one of the following countries is not a member of the "BRICS" group? [S.S.C. Online C.G.L(T-I) 10.09.2016 (Shift-I)]

(a) Brazil
(b) Russia
(c) China
(d) Indonesia

Correct Answer: (d) Indonesia

Solution:BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa. Originally, the first four were grouped as "BRIC", before the induction of South Africa in 2010. Hence, Indonesia is not a member of the "BRICS" group.

4. BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China and_______. [S.S.C. Online CHSL (T-I) 29.01.2017(Shift-III)]

(a) Saudi Arabia
(b) South Africa
(c) Singapore
(d) Sri Lanka

Correct Answer: (b) South Africa

5. Which of the following countries have formed the BRICS grouping of the five main emerging national economies? [C.P.O. S.I. 11.06.2016 (Shift-I)]

(a) Brazil, Russia, India, China, South Africa
(b) Brussels, Russia, India, Chile, South Africa
(c) Brussels, Russia, India, Chile, Switzerland
(d) Brazil, Romania, India, China, Switzerland

Correct Answer: (a) Brazil, Russia, India, China, South Africa

6. Which of the following is an example of a Cartel? [S.S.C. Online C.G.L. (T-I) 29.08.2016 (Shift-II)]

(a) Organization of the Petroleum Exporting Countries (OPEC)
(b) International Monetary Fund
(c) World Trade Organization
(d) United Nations Organization

Correct Answer: (a) Organization of the Petroleum Exporting Countries (OPEC)

Solution:

The Organization of the Petroleum Exporting Countries (OPEC), is an oil cartel whose members control 44% of global oil production and 81.5% of the world's oil reserves.

7. Which among the following countries is facing debt crisis? [S.S.C. Online C.G.L.(T-I) 11.09.2016 (Shift-III)]

(a) China
(b) Canada
(c) Germany
(d) Greece

Correct Answer: (d) Greece

Solution:Greece went bankrupt in June 2015. The IMF, the Euro Group and the European Central Bank first officially requested for financial aid (bailout packages) in 2010 to avoid Greece's sovereign debt crisis. After this, the second bail out agreement was agreed upon in the year 2011 and the third in the year 2015.

8. Name the company that has acquired an online travel portal Yatra Online Inc., for an enterprise value of $337.8 million, in an all-stock transaction. [S.S.C. Online C.G.L. (T-I) 4.03.2020 (Shift-III)]

(a) Trip Advisor
(b) Ebix Inc.
(c) Make my trip.com
(d) Trivago

Correct Answer: (b) Ebix Inc.

Solution:Ebix Inc. has acquired an online travel portal Yatra Online Inc., for an enterprise value of $337.8 million, in an all-stock transaction. Ebix Inc.is a supplier of on-demand software and e-commerce services.

9. In May 2019, the International Monetary Fund agreed to bail out _________with a fund of $6 billion. [S.S.C. Online C.G.L. (T-I) 4.03.2020 (Shift-I)]

(a) Pakistan
(b) India
(c) Nepal
(d) Bangladesh

Correct Answer: (a) Pakistan

Solution:In May 2019, the International Monetary Fund agreed to bail out Pakistan with a fund of $6 billion.

10. According to the United Nations' World Eco-nomic Situation and Prospects Report, 2019, the Indian economy is expected to expand by in 2020. [S.S.C. Online C.G.L. (T-I) 4.03.2020 (Shift-I)]

(a) 7.8%
(b) 7.1%
(c) 7.2%
(d) 7.6%

Correct Answer: (b) 7.1%

Solution:According to the United Nations' World Economic Situation and Prospects Report, 2019, the Indian economy is expected to expand by 7.1% in 2020.

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Economics (Part – XI)