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World Economy MCQs for CET Graduate

Practice World Economy under Economy for CET Graduate with 20 free MCQs in Hindi and English.

CET Graduate — World Economy

20 Questions • Instant results & explanations • Hindi & English

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Question 1 of 20

During a typical recessionary phase, what is the combined effect on corporate operations and the broader financial credit market?

Question 2 of 20

Which of the following correctly pairs the economic term with its definition in the context of inflation impacts?

Question 3 of 20

Assertion (A): The International Development Association (IDA) was established to provide commercial, high-yield loans to rapidly developing middle-income nations. Reason (R): The IDA functions as the 'soft loan' window of the World Bank Group.

Question 4 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 5 of 20

Match List-I with List-II regarding the unwritten conventions of global financial institutions: List-I A. Head of the World Bank B. Head of the International Monetary Fund (IMF) C. US Veto Power condition D. Supermajority requirement in IMF List-II 1. 85% of total voting shares 2. Traditionally a European citizen 3. Quota share exceeding 15% 4. Traditionally an American citizen

Question 6 of 20

What explicitly defines the painful "trough" phase in a U-Shaped economic recovery model?

Question 7 of 20

Assertion (A): The National Bureau of Economic Research (NBER) strictly uses the single metric of 'two consecutive quarters of negative real GDP growth' to declare an official recession. Reason (R): GDP is the only metric that captures the absolute scale of economic activity.

Question 8 of 20

Consider the following statements regarding the Bretton Woods Institutions: 1. They were established to prevent destructive beggar-thy-neighbor policies that were common during the interwar period. 2. The International Bank for Reconstruction and Development (IBRD) was the foundational arm of the World Bank. Which of the statements given above is/are correct?

Question 9 of 20

Which specific demographic segment formed the 'upper arm' of the K-shaped recovery following the COVID-19 pandemic?

Question 10 of 20

In the context of the World Bank's operations, what purpose does the Multilateral Investment Guarantee Agency (MIGA) serve?

Question 11 of 20

What is the full form of IFDA, an agreement blocked at the WTO MC14?

Question 12 of 20

When a central bank monetizes the government's fiscal deficit, it typically triggers demand-pull inflation by:

Question 13 of 20

Given below are two statements, one labeled as Assertion (A) and the other as Reason (R): Assertion (A): Central banks raising interest rates to combat inflation can precipitate an economic recession. Reason (R): Raising interest rates increases the cost of capital, which chokes off corporate borrowing and stifles private investment and consumer spending. Select the correct answer using the codes given below:

Question 14 of 20

In the context of the 10-point Washington Consensus, what was the prescribed policy approach towards international trade and foreign direct investment (FDI)?

Question 15 of 20

Which of the following phrases accurately describes the nature of the General Agreement on Tariffs and Trade (GATT) as signed in 1947?

Question 16 of 20

Arrange the following critical events from India's economic history and global trade evolution in sequential chronological order: 1. India's BoP Crisis leading to structural reforms 2. Launch of the Doha Development Round 3. The signing of the Marrakesh Agreement replacing GATT

Question 17 of 20

Consider the following statements regarding the critical impact of Structural Adjustment Programs (SAPs) in Sub-Saharan Africa and Latin America: I. They led to a rapid expansion of vital social spending. II. They caused the decimation of local nascent industries due to sudden trade liberalization. III. They resulted in the severe erosion of local policy ownership. Which of the statements given above is/are correct?

Question 18 of 20

Under the Income Method of calculating national income, the profit earned by business enterprises is formally categorized under which term?

Question 19 of 20

In the context of global economics, what does the term 'beggar-thy-neighbor' policy primarily refer to?

Question 20 of 20

Which of the following elements is strictly regulated under the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement to protect the unique origin-based qualities of a product?

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