Midterm Exam in Monetary Economics

The International Monetary Fund (IMF) was created as a result of the Bretton Woods Conference in

• 1940

• 1942

• 1944

• 1946

The principal task of the IMF is to extend ____ to countries with balance of payments problems.

• long-term loans

• short-term loans

• grants

• subsidies

The highest authority of the IMF is the

• Managing Director

• Executive Board

• Board of Governors

• Deputy Managing Director

Each member country in the IMF is represented by a

• governor

• director

• manager

• representative

The Executive Board at the IMF headquarters deals with

• only administrative matters

• only policy matters

• a wide variety of administrative and policy matters

• no matters, it is just a ceremonial board

The Managing Director of the IMF is traditionally a/an

• American

• Asian

• European

• African

A main objective of the IMF is to promote

• international cooperation

• trade expansion

• exchange stability

• all of the above

Every IMF member is required to subscribe an amount equal to its

• reserves

• exports

• quota

• debt

Quotas of member countries are approximately SDR ____

• 79.2 billion

• 89.2 billion

• 99.2 billion

• 109.2 billion

SDR stands for

• Special Drawing Rights

• Standard Drawing Rights

• Special Deposit Receipts

• Standard Deposit Receipts