#1
Which of the following organizations is primarily responsible for promoting international monetary cooperation and exchange rate stability?
International Monetary Fund (IMF)
ExplanationIMF promotes international monetary cooperation and exchange rate stability.
#2
What does GDP stand for?
Gross Domestic Product
ExplanationGDP stands for Gross Domestic Product.
#3
What does FDI stand for in the context of economics?
Foreign Direct Investment
ExplanationFDI stands for Foreign Direct Investment.
#4
Which country is considered the world's largest exporter of goods?
China
ExplanationChina is considered the world's largest exporter of goods.
#5
Which of the following is NOT a characteristic of a market economy?
Government control over production and distribution
ExplanationGovernment control over production and distribution is not characteristic of a market economy.
#6
Which region has been dubbed the 'Factory of the World' due to its significant role in global manufacturing?
Asia-Pacific
ExplanationAsia-Pacific is known as the 'Factory of the World' due to its significant role in global manufacturing.
#7
What economic theory suggests that a government should increase demand to boost economic growth during a recession?
Keynesian economics
ExplanationKeynesian economics suggests increasing demand to boost economic growth during a recession.
#8
What is the term for a situation where the price of goods and services increases, eroding purchasing power?
Inflation
ExplanationInflation erodes purchasing power by increasing the price of goods and services.
#9
Which economic concept refers to the total market value of all final goods and services produced in a country within a specific period?
GDP (Gross Domestic Product)
ExplanationGDP refers to the total market value of all final goods and services produced in a country within a specific period.
#10
Which of the following is NOT a component of the Human Development Index (HDI)?
GDP per capita
ExplanationGDP per capita is not a component of the Human Development Index (HDI).
#11
Which of the following is NOT a characteristic of a developed economy?
High unemployment rate
ExplanationA high unemployment rate is not characteristic of a developed economy.
#12
In economic terms, what does the acronym WTO stand for?
World Trade Organization
ExplanationWTO stands for World Trade Organization.
#13
What does the term 'BRICS' refer to in the context of global economic development?
A group of emerging economies: Brazil, Russia, India, China, South Africa
ExplanationBRICS refers to a group of emerging economies: Brazil, Russia, India, China, South Africa.
#14
Which international economic organization provides loans and grants to the world's poorest countries?
World Bank
ExplanationThe World Bank provides loans and grants to the world's poorest countries.
#15
What economic term describes a period of temporary economic decline during which trade and industrial activity are reduced?
Recession
ExplanationA recession is a period of temporary economic decline during which trade and industrial activity are reduced.