12th Economics Book Back Question and Answer Tamil Medium & English Medium
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12th Economics Book Back Question and Answer Tamil Medium & English Medium
- Chapter 8 International Economic Organisations
Introduction
In the previous chapter, we have
studied the basis of trade, gains from
trade, terms of trade, BoP and foreign
exchange. When trade takes place among
countries, the developed countries always
stand to gain and the LDCs suffer from
adverse terms of trade as well as balance of payments and they affect their exchange rates. The Great Depression of 1930s and
World War II led to purely nationalistic
policies in which almost every country
imposed trade restrictions, exchange
controls and exchange depreciation so as
to boost exports and to restrict imports
considerably.
The Brettonwoods Conference proposed IMF, World Bank and International Trade Organisation (ITO) in 1944. The IMF and World Bank were started in 1945. Instead of ITO, an interim arrangement was made and named GATT (General Agreement on Tariff and Trade). The GATT was transformed into WTO (World Trade Organisation) from 1995. The IMF, IBRD and WTO headquarters are presented in the table
Multiple choice questions
1. International Monetary Fund was an
outcome of
a) Pandung Conference
b) Dunkel Draft
c) Bretton Woods Conference
d) Doha Conference
2. International Monetary Fund is having
its headquarters at
a) Washington D.C.
b) New York
c) Vienna
d) Geneva
3. IBRD is otherwise called
a) IMF
b) World Bank
c) ASEAN
d) International Finance
Corporation
4. The other name for Special Drawing
Rights is
a) Paper gold
b) Quotas
c) Voluntary Export Restrictions
d) None of these
5. The organization which provides long
term loan is
a) World Bank
b) International Monetary Fund
c) World Trade Organisation
d) BRICS
6. Which of the following countries is
not
a member of SAARC?
a) Sri Lanka
b) Japan
c) Bangladesh
d) Afghanistan
7. International Development Association
is an affiliate of
a) IMF
b) World Bank
c) SAARC
d) ASEAN
8. ---------- relates to patents, copyrights,
trade secrets, etc.,
a) TRIPS
b) TRIMS
c) GATS
d) NAMA
9. The first ministerial meeting of WTO
was held at
a) Singapore
b) Geneva
c) Seattle
d) Doha
10. ASEAN meetings are held once in
every __________ years
a) 2
b) 3
c) 4
11. Which of the following is not the
member of SAARC?
a) Pakistan
b) Sri Lanka
c) Bhutan
d) China
12. SAARC meets once in ----------- years.
a) 2
b) 3
c) 4
d) 5
13. The headquarters of ASEAN is
a) Jaharta
b) New Delhi
c) Colombo
d) Tokyo
14. The term BRIC was coined in
a) 2001
b) 2005
c) 2008
d) 2010
15. ASEAN was created in
a) 1965
b) 1967
c) 1972
d) 1997
16. The Tenth BRICS Summit was held in
July 2018 at
a) Beijing
b) Moscow
c) Johannesburg
d) Brasilia
17. New Development Bank is associated
with
a) BRICS
b) WTO
c) SAARC
d) ASEAN
18. Which of the following does not
come under ‘Six dialogue partners’ of
ASEAN?
a) China
b) Japan
c) India
d) North Korea
19. SAARC Agricultural Information
Centre (SAIC) works as a central
information institution for agriculture
related resources was founded on
a) 1985
b) 1988
c) 1992
d)1998
20. BENELUX is a form of
a) Free trade area
b) Economic Union
c) Common market
d) Customs union
Part B
Answer the following questions (2 marks)
21. Write the meaning of Special Drawing rights.
22. Mention any two objectives of ASEAN.
23. Point out any two ways in which IBRD lends to member countries.
24. Define Common Market.
25. What is Free trade area?
26. When and where was SAARC Secretariat established?
27. Specify any two affiliates of World Bank Group.
Part C
Answer the following questions (3 marks):
28. Mention the various forms of economic integration.
29. What are trade blocks?
30. Mention any three lending programmes of IMF.
31. What is Multilateral Agreement?
32. Write the agenda of BRICS Summit, 2018.
33. State briefly the functions of SAARC.
34. List out the achievements of ASEAN.
Part D
Answer the following questions (5 marks)
35. Explain the objectives of IMF.
36. Bring out the functions of World Bank.
37. Discuss the role of WTO in India’s socio economic development.
38. Write a note on a) SAARC b) BRICS
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