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WorksheetsUNIT 8 & 9 IE AND IFS
Total questions: 70
Worksheet time: 53mins
Name
Class
Date
1.
What does Foreign Trade Policy refer to?
a)
Economic imports
b)
Export-import activity
c)
Monetary policy
d)
Trade restrictions
e)
Foreign exchange rates
2.
Prior to 1991, what were the restrictions on foreign investment in India?
a)
Low taxes
b)
High tariffs
c)
Quantitative restrictions
d)
No restrictions
e)
Foreign exchange controls
3.
Which initiative is associated with FTP 2015-20?
a)
Make in India
b)
Skill India
c)
Swachh Bharat
d)
Digital India
e)
Clean Energy
4.
What was the target set by FTP for India's merchandise and services exports by 2019-20?
a)
$465 billion
b)
$500 billion
c)
$900 billion
d)
$1 trillion
e)
$700 billion
5.
Which schemes were introduced in FTP 2015-20?
a)
SEIS, SFIS
b)
MEIS, SEIS
c)
EPCG, VKGUY
d)
FDI, FII
e)
FMS, AMS
6.
What was the major change in reward schemes under FTP 2015-20?
a)
Introduction of new schemes
b)
Merging of multiple schemes
c)
Reduction in export obligations
d)
Increase in export tariffs
e)
Expansion of the MEIS
7.
How does the FTP 2015–20 boost "Make in India"?
a)
By promoting foreign investment
b)
By increasing export obligations
c)
By simplifying reward schemes
d)
By imposing tariffs
e)
By reducing exports of hi-tech items
8.
Which sector benefits from the E-Commerce exports under FTP 2015-20?
a)
Agriculture
b)
Handloom products
c)
Pharmaceuticals
d)
Telecommunications
e)
Textiles
9.
What does the "Approved Exporter System" aim to achieve?
a)
Fast access to international markets
b)
Reduce export obligations
c)
Increase export tariffs
d)
Encourage domestic manufacturing
e)
Promote bilateral trade
10.
What are EOU, EHTP, STPI, and BTP schemes associated with in FTP 2015-20?
a)
Export promotion
b)
Export of services
c)
Export of agriculture products
d)
Export of technology
e)
Export of handicrafts
11.
What is the focus of the Niryat Bandhu Scheme?
a)
Boosting exports in MSME clusters
b)
Promoting exports in rural areas
c)
Encouraging exports to China
d)
Enhancing trade facilitation
e)
Supporting women entrepreneurs
12.
What is a major objective of the new FTP?
a)
Paperless working
b)
Increased tariffs
c)
Easier access to credit
d)
Reduction of trade barriers
e)
Enhanced diplomatic relations
13.
What challenge does India face regarding its trading partners?
a)
Diversifying trading partners
b)
Increasing exports
c)
Reducing import tariffs
d)
Concentrating trade with China
e)
Promoting regional trade
14.
According to the material, what sectors need diversification in India's import sources?
a)
Energy
b)
Technology
c)
Pharmaceuticals
d)
Infrastructure
e)
Manufacturing
15.
What are the key areas to be considered for long-term export growth in India?
a)
Skill development
b)
State efficacy in exports
c)
Promoting FDI
d)
E-commerce exports
e)
Inter-unit transfer of goods
16.
What is FDI's role in economic growth?
a)
Decreases growth rates
b)
Enhances productivity
c)
Reduces employment
d)
Increases taxes
e)
Promotes inflation
17.
How does a favorable policy framework promote FDI inflows?
a)
Reduces capital flight
b)
Increases investment
c)
Decreases economic growth
d)
Provides tax exemptions
e)
Ensures high tariffs
18.
What are the two channels through which FDI enters India?
a)
RBI's automatic route
b)
Government route
c)
E-commerce route
d)
Express route
e)
FII's automatic route
19.
In which activities/sectors is the automatic route of RBI not available for FDI?
a)
Petroleum refining
b)
Defense and strategic industries
c)
Broadcasting
d)
Atomic minerals
e)
Postal services
20.
What is the purpose of the government route for FDI?
a)
To promote exports
b)
To encourage domestic manufacturing
c)
To regulate foreign investment
d)
To increase foreign technology collaboration
e)
To simplify export procedures
21.
What are the prohibited sectors for FDI?
a)
Education
b)
Real estate business
c)
Medical research
d)
Renewable energy
e)
Information technology
22.
What is the primary difference between FDI and FII?
a)
Control over a company
b)
Investment in the stock market
c)
Entry and exit ease
d)
Long-term capital
e)
Economic growth
23.
What type of capital does FII typically represent?
a)
Short-term
b)
Long-term
c)
Medium-term
d)
Micro-capital
e)
Mega-capital
24.
What is the key consequence of FII investments?
a)
Capital flight
b)
Increase in the country's GDP
c)
Decline in stock market
d)
High export levels
e)
Reduced inflation
25.
What does "Economic Development" encompass beyond "Economic Growth"?
a)
Quality of life
b)
Population growth
c)
GDP growth
d)
Technological advancements
e)
Political stability
26.
What type of indicators are used to assess economic development?
a)
Qualitative indicators
b)
Quantitative indicators
c)
Monetary indicators
d)
Fiscal indicators
e)
Environmental indicators
27.
What does HDI stand for in the context of economic development assessment?
a)
High Development Index
b)
Human Development Index
c)
Household Development Index
d)
Health Development Index
e)
Heritage Development Index
28.
Which concept is narrower, Economic Growth, or Economic Development?
a)
Economic Growth
b)
Economic Development
c)
Both are equally broad
d)
Neither is broad
e)
Depends on the context
29.
What is the primary scope of Economic Growth?
a)
Quality of life
b)
Multi-dimensional development
c)
Monetary growth
d)
Income improvement
e)
Technological advancement
30.
In which term is Economic Development usually measured?
a)
Long-term
b)
Short-term
c)
Medium-term
d)
Micro-term
e)
Mega-term
31.
Which type of economies does Economic Growth typically apply to?
a)
Developing economies
b)
Developed economies
c)
Both
d)
Neither
e)
Depends on the context
32.
What kind of changes are expected under Economic Development?
a)
Quantitative changes
b)
Qualitative changes
c)
No changes
d)
Both quantitative and qualitative
e)
Political changes
33.
What is an example of a quantitative indicator used for economic development assessment?
a)
GDP
b)
HDI
c)
Gini Coefficient
d)
Gender Development Index
e)
Physical Quality of Life Index
34.
What is the main difference between FDI and FII?
a)
Investment type
b)
Entry and exit ease
c)
Economic impact
d)
Control over a company
e)
Sector of investment
35.
In what term is Economic Growth typically measured?
a)
Medium-term
b)
Long-term
c)
Short-term
d)
Mega-term
e)
Micro-term
36.
What defines an international economic organization?
a)
Global trade promotion
b)
Elimination of poverty and growth
c)
Multilateral development
d)
Economic cooperation
e)
Financial stability
37.
How many international economic organizations are mentioned in the material?
a)
2
b)
3
c)
4
d)
5
e)
6
38.
. When was the IMF formed, and where did the delegates meet to create it?
a)
1945, New York
b)
1944, Bretton Woods
c)
1946, Washington, D.C.
d)
1944, Geneva
e)
1945, London
39.
. How many member countries are there in the IMF today?
a)
165
b)
175
c)
185
d)
190
e)
195
40.
Where is the IMF headquartered?
a)
London
b)
Paris
c)
Geneva
d)
Washington, D.C.
e)
New York
41.
. What is the primary focus of the IMF's activities?
a)
Environmental conservation
b)
Economic development
c)
Monetary cooperation
d)
Poverty reduction
e)
Financial stability
42.
Is the IMF a specialized agency of the United Nations?
a)
Yes
b)
No
c)
Not mentioned
d)
Partially
e)
Irrelevant
43.
When did India become a member of the IMF?
a)
December 27, 1945
b)
January 1, 1950
c)
November 12, 1944
d)
October 15, 1946
e)
July 4, 1952
44.
Who is the ex-officio Governor on the Board of Governors of the IMF from India?
a)
Prime Minister
b)
President
c)
Finance Minister
d)
Reserve Bank Governor
e)
Chief Economist
45.
What are the functions of the IMF mentioned in the material?
a)
Surveillance, Financing, Combating poverty, Mobilizing external financing, Increasing global reserves, Building capacity, Dissemination of information
b)
Economic development, Promoting global trade, Monetary cooperation, Financial stability, Technical assistance, Training
c)
Policy formulation, Poverty alleviation, Technological advancement, International trade promotion, Monetary stability, Fiscal discipline
d)
Monetary cooperation, Trade disputes, Technical assistance, Policy monitoring, International cooperation, Poverty reduction, Training
e)
Fiscal policy, Currency exchange, Poverty alleviation, Financial stability, Global reserves, Dissemination of research
46.
What is the basis for the value of the SDR (Special Drawing Right)?
a)
Basket of five currencies
b)
Gold reserves
c)
Commodity prices
d)
Global GDP
e)
Oil prices
47.
What is India's current IMF quota in SDR?
a)
SDR 13,114 million
b)
SDR 15,678 million
c)
SDR 10,245 million
d)
SDR 8,912 million
e)
SDR 12,340 million
48.
How many votes does India have in the IMF?
a)
120,324 votes
b)
132,603 votes
c)
145,879 votes
d)
100,982 votes
e)
158,765 votes
49.
What is the World Bank's primary mission?
a)
Promoting international trade
b)
Eliminating poverty
c)
Monetary cooperation
d)
Fiscal discipline
e)
Environmental conservation
50.
How many institutions make up the World Bank Group (WBG)?
a)
2
b)
3
c)
4
d)
5
e)
6
51.
How does voting work in the World Bank Group (WBG)?
a)
Basic voting rights for all nations
b)
Voting based on shareholding
c)
Voting based on GDP
d)
Voting based on financial contributions
e)
No voting system
52.
How many components of the World Bank Group is India a member of?
a)
1
b)
2
c)
3
d)
4
e)
5
53.
What is the main difference between the IMF and the World Bank Group mentioned in the material?
a)
Membership structure
b)
Overseeing international monetary system
c)
Development financing
d)
Monetary cooperation
e)
Role in economic growth
54.
How does the IMF draw its financial resources?
a)
Quota subscriptions
b)
Borrowing from international bond market
c)
Donations
d)
Printing money
e)
Taxation
55.
How has India benefited from the activities of international economic organizations?
a)
Political support, Export facilitation
b)
Cash, guidance, cross-country expertise
c)
Technological advancements
d)
Military aid
e)
Energy resources
56.
When was the WTO conceived, and which GATT cycle led to its creation?
a)
1986–1994, Geneva
b)
1990–1996, Marrakech
c)
1986–1994, Uruguay
d)
1992–2000, Brussels
e)
1985–1993, New York
57.
How many members does the WTO have as of June 2022?
a)
150
b)
164
c)
178
d)
190
e)
200
58.
Where is the headquarters of the World Trade Organization located?
a)
Geneva
b)
New York
c)
Washington, D.C.
d)
Paris
e)
Brussels
59.
When did India become a member of the World Trade Organization (WTO)?
a)
1995-01-01 00:00:00
b)
2000-12-01 00:00:00
c)
1948-07-01 00:00:00
d)
1992-11-01 00:00:00
e)
1999-03-01 00:00:00
60.
What are the functions of the WTO mentioned in the material?
a)
Administering trade agreements, Trade negotiations, Handling trade disputes, Monitoring national trade policies, Technical assistance, Cooperation with other organizations
b)
Promoting global trade, Economic development, Poverty reduction, Fiscal discipline, Monetary cooperation, Technical assistance, Training
c)
International arbitration, Trade facilitation, Technology advancement, Financial stability, Environmental conservation, Monetary policy, Fiscal policy
d)
Monetary cooperation, Development financing, Monetary stability, Fiscal discipline, Trade disputes, Technical assistance, Training
e)
Policy formulation, Poverty alleviation, Technological advancement, International trade promotion, Monetary stability, Fiscal discipline, Technical cooperation
61.
What is regional economic integration a framework for encouraging?
a)
Economic development
b)
Technology and investment
c)
Global monetary cooperation
d)
Cultural exchange
e)
Environmental conservation
62.
Name a regional economic integration example mentioned in the material.
a)
SAARC
b)
ASEAN
c)
OPEC
d)
G-7
e)
RCEP
63.
How many members are there in the South Asian Association for Regional Cooperation (SAARC)?
a)
5
b)
7
c)
9
d)
10
e)
12
64.
What does RCEP stand for?
a)
Regional Comprehensive Economic Partnership
b)
Resilience and Cooperation for Economic Progress
c)
Resource Conservation and Economic Partnership
d)
Regional Cooperation for Environmental Protection
e)
Rapid Creation of Economic Partnerships
65.
. What is the primary goal of Mercosur?
a)
Monetary cooperation
b)
Economic integration
c)
Cultural preservation
d)
Environmental conservation
e)
Human rights protection
66.
What is the primary goal of the Group of Seven (G-7)?
a)
Environmental conservation
b)
Human rights protection
c)
Economic integration
d)
Monetary cooperation
e)
International diplomacy
67.
What does OECD stand for?
a)
Organization for Economic Co-operation and Development
b)
Organization for Environmental Conservation and Development
c)
Organization for Economic Coordination and Development
d)
Organization for Energy and Commerce Development
e)
Organization for Economic Collaboration and Development
68.
What is the main purpose of the North American Free Trade Agreement (NAFTA)?
a)
Cultural preservation
b)
Environmental protection
c)
Economic integration
d)
Technological advancement
e)
Tariff reduction
69.
Which Indian Ocean association for regional cooperation is mentioned in the material?
a)
ASEAN
b)
RCEP
c)
IORARC
d)
NAFTA
e)
SAARC
70.
What does BIMSTEC stand for?
a)
Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation
b)
Bangladesh, India, Myanmar, Sri Lanka Technical and Economic Cooperation
c)
Bordering Indian, Myanmar, Sri Lanka, Thailand Economic Coalition
d)
Bengal Initiative for Multilateral Trade and Economic Cooperation
e)
Burma, India, Myanmar, Sri Lanka, Thailand Economic Committee
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