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World Economy MCQs for CET 12th Level

Practice World Economy under Economy for CET 12th Level with 20 free MCQs in Hindi and English.

CET 12th Level — World Economy

20 Questions • Instant results & explanations • Hindi & English

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Question 1 of 20

Which of the following nations are specifically cited in macroeconomic literature as stark examples where the implementation of Structural Adjustment Programs led to escalated rural poverty?

Question 2 of 20

Which of the following is an example of a 'beggar-thy-neighbor' policy prominently utilized during the interwar period?

Question 3 of 20

What is the primary reason that cutting direct taxes during a recession is considered a highly effective counter-cyclical measure?

Question 4 of 20

Which of the following functions falls completely OUTSIDE the operational mandate of the International Finance Corporation (IFC)?

Question 5 of 20

Consider the following statements regarding the structural domestic causes that contributed to the genesis of India's 1991 economic crisis: I. The economy was characterized by a persistent and growing surplus in the current account. II. High government borrowing had led to a state of severe fiscal profligacy. III. The nation suffered from the systemic rigidities of an outward-looking, aggressive export regime. Which of the statements given above is/are correct?

Question 6 of 20

Since which year has India explicitly positioned itself as an assertive, leading voice defending the domestic policy space of the Global South at the WTO?

Question 7 of 20

Match List-I (Policy Actions/Tools) with List-II (Intended Macroeconomic Outcomes) and select the correct answer using the codes given below: List-I 1. Massively increasing capital expenditure 2. Raising the Repo Rate 3. Cutting the Cash Reserve Ratio (CRR) 4. Aggressive Fiscal Consolidation List-II a. Injects direct liquidity to empower bank lending b. Absorbs excess liquidity to control demand-pull inflation c. Cools down an overheating economy by reducing public spending d. Triggers the multiplier effect to revive dying GDP

Question 8 of 20

Match List I with List II regarding global institutional metrics: List I (Institution) A. WTO B. IMF C. WBG List II (Approximate Staff Size) 1. ~7,000 staff 2. ~600 staff 3. ~2,300 staff Select the correct answer:

Question 9 of 20

In macroeconomic theory, if a sovereign government is simultaneously dealing with a situation where its spending vastly exceeds its revenues, and the country's imports vastly exceed its exports, the economy is suffering from:

Question 10 of 20

What role does the World Trade Organization (WTO) play in relation to the financial efforts of the IMF and the World Bank?

Question 11 of 20

Consider the following statements regarding the GDP Deflator: 1. It relies on a fixed, representative basket of retail goods and services. 2. It automatically adjusts for changing consumption patterns. 3. It is calculated as the ratio of Nominal GDP to Real GDP multiplied by 100. Which of the statements given above is/are correct?

Question 12 of 20

Which of the following institutions are officially recognized as the 'Bretton Woods Institutions' established directly as a result of the 1944 conference?

Question 13 of 20

Given below are two statements, one is labelled as Assertion (A) and the other as Reason (R): Assertion (A): It is proposed that global financial institutions must integrate climate vulnerability indexes into their lending criteria. Reason (R): Both the IMF and World Bank have successfully provided extensive unconditional concessional financing for climate adaptation in the Global South. Select the correct answer using the codes given below:

Question 14 of 20

Which organization's foundation traces back to the Marrakesh Agreement?

Question 15 of 20

Assertion (A): Real GDP is widely considered a highly accurate measure of actual economic expansion compared to Nominal GDP. Reason (R): Real GDP employs a price deflator to strip away the inflationary or deflationary effects that distort output value. Choose the correct option:

Question 16 of 20

Which of the following scenarios explains why United States tech giants fiercely opposed the expiration of the WTO moratorium in 2026?

Question 17 of 20

Which organization defines a recession through a complex calculus of employment, industrial production, and retail sales, rather than relying solely on the two-quarter GDP rule?

Question 18 of 20

Which of the following agreements was NOT a binding multilateral agreement introduced specifically alongside the establishment of the World Trade Organization in 1995?

Question 19 of 20

If a government decides to abruptly raise administered taxes on fuel, resulting in an immediate jump in the general price level, how would a macroeconomist accurately classify this event?

Question 20 of 20

Match the following Economic Periods/Indicators (List-I) with their corresponding Impact/Attributes (List-II): List-I 1. High GDP growth (2004-2008) 2. High CPI inflation (2012-2013) 3. Services Sector (Recent) 4. Agriculture Sector (Recent) List-II a. Anchors the economy with 56.4% share of GVA b. Rebounded due to healthy Kharif crop production c. Lifted hundreds of millions out of absolute poverty d. Severely hurt the unorganized sector due to wage rigidity

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