Practice External Sector: Balance of Payments, WTO, IMF and World Bank – GK Quiz with Answers – Level 2

In the balance of payments, the term 'invisibles' refers to:

Consider the following statements:

1. Balance of trade is the exports of goods minus the imports of goods.

2. A trade deficit occurs when exports of goods exceed imports of goods.

Which of the statements given above is/are correct?

Match List-I with List-II:

Select the correct answer using the codes given below.

Under a flexible exchange rate system, depreciation of the rupee means that:

Consider the following statements about India's 1991 economic crisis:

1. It was a balance of payments crisis, with very little foreign exchange left.

2. India took loans from the World Bank and the IMF.

3. The loans were given by the WTO on the condition of opening the economy.

Which of the statements given above is/are correct?

Which of the following pairs is correctly matched?

Outsourcing, one of the results of globalisation, refers to:

Arrange the following events in chronological order:

1. Establishment of the WTO

2. Formation of GATT

3. Start of LPG reforms in India

Select the correct chronological order.

Which one of the following is the odd one out on the basis of the location of its headquarters?

Consider the following statements:

1. The WTO aims to build a rule-based world trading system.

2. The IBRD is the main arm of the International Monetary Fund.

Which of the statements given above is/are correct?