General Knowledge MCQs
Topic Notes: General Knowledge
MCQs and preparation resources for competitive exams, covering important concepts, past papers, and detailed explanations.
Plato
- Biography: Ancient Greek philosopher (427–347 BCE), student of Socrates and teacher of Aristotle, founder of the Academy in Athens.
- Important Ideas:
- Theory of Forms
- Philosopher-King
- Ideal State
31
Which institution is the lending arm of the European Union?
Answer:
European Investment Bank (EIB)
The European Investment Bank (EIB) is the lending arm of the European Union. It is the world's largest multilateral lender and the biggest provider of climate finance, owned by the EU Member States.
32
What is 'Conditionality' in the context of IMF loans?
Answer:
Policies and reforms a country agrees to implement in exchange for financial resources
When a country borrows from the IMF, the government agrees to adjust its economic policies to overcome the problems that led it to seek financial aid. These policy commitments, known as conditionalities, are designed to ensure that the country will be able to repay the IMF.
33
The Islamic Development Bank (IsDB) is headquartered in which city?
Answer:
Jeddah
The Islamic Development Bank (IsDB) is a multilateral development finance institution headquartered in Jeddah, Saudi Arabia. It operates in accordance with the principles of Shariah (Islamic law).
34
Which currency was added to the IMF's SDR basket in 2016?
Answer:
Chinese Renminbi (Yuan)
The Chinese Renminbi (RMB) was added to the SDR basket effective October 1, 2016, joining the U.S. dollar, euro, Japanese yen, and British pound sterling. This recognized China's increasing role in global trade and finance.
35
What is the primary role of the International Centre for Settlement of Investment Disputes (ICSID)?
Answer:
Arbitrating legal disputes between international investors and states
ICSID is an autonomous international institution established under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. It is the world's leading institution devoted to international investment dispute settlement.
36
The President of the World Bank has traditionally been a citizen of which country?
Answer:
United States
By an informal agreement (gentleman's agreement) between the United States and Europe, the President of the World Bank has traditionally been an American citizen nominated by the United States, while the Managing Director of the IMF has traditionally been a European.
37
Which of the following is NOT one of the five institutions that make up the World Bank Group?
Answer:
WTO
The World Trade Organization (WTO) is a separate international organization dealing with the rules of trade between nations. The five institutions of the World Bank Group are IBRD, IDA, IFC, MIGA, and ICSID.
38
The European Bank for Reconstruction and Development (EBRD) was originally founded to support the transition to market economies in which region?
Answer:
Central and Eastern Europe (post-Cold War)
The EBRD was established in 1991 following the collapse of communism in Central and Eastern Europe. Its original mandate was to support the transition from centrally planned to market economies in the former Eastern Bloc countries.
39
Which institution creates the 'World Economic Outlook' report?
Answer:
IMF
The World Economic Outlook (WEO) is a survey conducted and published by the International Monetary Fund (IMF). It is published twice a year and presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups, and in many individual countries.
40
The New Development Bank (NDB) was established by which group of countries?
Answer:
BRICS
The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, was established by the BRICS states (Brazil, Russia, India, China, and South Africa). It is headquartered in Shanghai, China, and aims to mobilize resources for infrastructure and sustainable development projects.