World Panorama (UPSC) Part-I

📆 March 22, 2025

Total Questions: 50

11. Which of the following pairs are correctly matched? [1998]

1. Dow Jones: New York

2. Hang Seng Seoul

3. FTSE-100: London

Select the correct answer using the codes given below:

(a) 1, 2 &
(b) 2 & 3
(c) 1 & 2
(d) 1 & 3

Correct Answer: (d) 1 & 3

Solution:Hang Seng is the stock market of Hong Kong not Seoul Rest 1 and 3 are correctly matched.

12. 'MERCOSUR' consists of group of countries of: [1998]

(a) Africa
(b) Asia
(c) Latin America
(d) South East Asia

Correct Answer: (c) Latin America

Solution:Mercosur or Mercosul is an economic and political agreement between Argentina, Brazil, Paraguay and Uruguay Founded in 1991

13. The economist who was associated with the WTO draft document is: [1998]

(a) A.K. Sen
(b) T.N. Srinivasan
(c) J.N. Bhagwati
(d) Avinash Dixit

Correct Answer: (a) A.K. Sen

Solution:Amartya sen was associated with WTO draft document.

14. Match List-I with List-II and select the correct answer using the codes given below the lists: [1999]

List-I (Organization)	List-II (Function)
A. WTO	1. Provides loans to address short-term balance payment problems
B. IDA	2. Multilateral trade negotiation body
C. IMF	3. Sanction of soft loans
D. IBRD	4. Facilitating lending and borrowing for reconstruction and development

Option	A	B	C	D
(a)	2	3	4	1
(b)	2	3	1	4
(c)	3	2	4	1
(d)	3	2	1	4

Correct Answer: (b)

Solution:In 1995, the World Trade Organization (WTO) replaced the GATT as the administrative body. A current round of multilateral trade negotiations was conducted in the Doha Development Agenda round. IDA as an agency to provide 'soft-loans' to developing countries, was floated within the Bank under the stewardship of President Eugene Black Historically, the bulk of non-concessional IMF assistance has been provided through SBAs. The SBA is designed to help countries address short-term balance of payments problems. Most of IBRD's lending generally falls under two categories: investment project financing and development policy operations.

15. Consider the following statements about the European Union: [1999]

1. The European Union was known earlier as the European Community

2. The Single European Act (1986) and the Maastricht Treaty were milestones in its formation

3. Citizens of European Union countries enjoy dual citizenship

4. Switzerland is a member of the European Union

Which of the above statements are correct?

(a) 2 & 4
(b) 1 & 3
(c) 3 & 4
(d) 1, 2 & 3

Correct Answer: (d) 1, 2 & 3

Solution:Statements 1, 2 and 3 are correct.
The European Union consists of 28 member states. Switzerland is not the member of the European Union.

16. Dinar/New Dinar is the currency of: [1999]

(a) Sudan
(b) Yugoslavia
(c) U.A.E
(d) Tunisia

Correct Answer: (c) U.A.E

Solution:Currency of U.A.E. is Dinar, Sudan's currency is Sudanese Pound; Yugoslavia's currency is New Dinar Currency of Tunisia is Tunisian Dinar.

17. Which one of the following statements is correct? [1999]

(a) Kacchativu and Tin Bigha were territories acquired by Indian Republic from the French
(b) Kacchativu and Tin Bigha are territories handed over to Sri Lankan and Bangladesh sovereignty respectively by the Government of India
(c) Kacchativu and Tin Bigha are areas that were annexed by the Chinese in the 1962 Sino-Indian war
(d) Kacchativu and Tin Bigha are enclaves which were transferred to India by less arrangements with Sri Lanka and Pakistan respectively

Correct Answer: (b) Kacchativu and Tin Bigha are territories handed over to Sri Lankan and Bangladesh sovereignty respectively by the Government of India

Solution:The Kacchativu Dispute :
A territorial dispute arose in regard to the ownership of a one square mile uninhabited island, called Kacchativu, off the Jaffna coast in the Palk straits. Pilgrims from both India and Sri Lanka used to go to Kacchativu Island every year in the month of March during the four-day St. Anthony's festival for worship at the local Roman Catholic Church. India protested over the presence of Sri Lankan police during the festival in 1968. This caused conflict. Both India and Sri Lanka were keen to avoid a serious situation. The Prime Ministers of India and Sri Lanka met twice and pending a final decision on the issue of island's title, resolved to maintain status quo in and around the island. Neither India nor Sri Lanka would send its policemen in uniform or custom officials, or resort to aerial reconnaissance or naval patrolling of adjacent waters during the St. Anthony's festival. Finally, through a comprehensive agreement India accepted Sri Lanka's ownership of the Kacchativu Island.
The Teen Bigha Corridor is a strip of land formerly belonging to India on the West Bengal-Bangladesh border which has been leased indefinitely to Bangladesh so that it can access its Dehgram-Angalpota enclaves, one of the Indo-Bangladesh enclaves. This Corridor was formally transferred to Bangladesh on June 26, 1992.

18. Which one of the following is known as the "Coffee port" of the world? [2000]

(a) Sao Paulo
(b) Santos
(c) Rio de Janeiro
(d) Buenos Aires

Correct Answer: (b) Santos

Solution:Santos port Brazil is known as "coffee port" of world.

19. Gild-edged: [2001]

(a) bullion market
(b) market of Government securities
(c) market of guns
(d) market of pure metals

Correct Answer: (b) market of Government securities

Solution:Gild-edged is the market in government securities guaranteed by the government centre or state. The term means least-risk/best quality by way of least risk of default in repayment of principal and interest.