World Economy GK Questions and Answers - 2

Question: 6

A common currency for the members of the Common Market in Europe is known as

(A) Franc

(B) Pound

(C) Dollar

(D) Eurodollar

Question: 7

The European Commission has approved the entry of ten countries into the European Union by 2004. Membership of which of the following countries has not been approved?

(A) Slovenia

(B) Hungary

(C) Poland

(D) Turkey

Question: 8

Which of the following types of borrowings from the IMF has the Softest servicing conditions

(A) SAF

(B) ESAF

(C) Second Trancha Loan

(D) Oil facility

Question: 9

The developing countries have only a minor share of the world trade because

(A) they face fierce competition from trade grouping like the EEC.

(B) they produce mainly primary goods whose prices are low.

(C) their economics are not trade oriented.

(D) they lack the necessary infrastructure.

Question: 10

The Darrakesh Declaration adopted at the meeting of GATT was a result of when of the following

(A) Paris Conclave

(B) Uruguay Round

(C) Geneva Agreement

(D) Rome Declaration