#421

Who is the current President of the European Commission, re-elected for a second term in 2024?

(a) Charles Michel

(b) Ursula von der Leyen

(c) Roberta Metsola

(d) Antonio Tajani

Explanation: Ursula von der Leyen was re-elected by the European Parliament for a second five-year term as President of the European Commission in July 2024.

#422

Tamás Sulyok became the President of which country in March 2024?

(a) Poland

(b) Hungary

(c) Austria

(d) Romania

Explanation: Tamás Sulyok was elected President of Hungary in 2024 following the resignation of Katalin Novák.

#423

Which country officially joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in December 2024, becoming its first European member?

(a) France

(b) Germany

(c) United Kingdom

(d) Italy

Explanation: The United Kingdom formally joined the CPTPP on December 15, 2024, making it the first new member since the bloc's creation and the first from Europe.

#424

According to the IMF's late 2024/2025 projections, global GDP growth for 2025 is forecast to be approximately:

(a) 2.1%

(b) 3.2%

(c) 4.5%

(d) 1.5%

Explanation: The IMF projected global growth to stabilize at around 3.2% in 2025, maintaining a steady but slow pace similar to 2024.

#425

Project 'mBridge', which reached Minimum Viable Product (MVP) status in mid-2024, is a platform for:

(a) Global carbon credit trading

(b) Cross-border CBDC payments

(c) AI regulation compliance

(d) Satellite internet coordination

Explanation: Project mBridge is a multi-central bank digital currency (CBDC) platform designed to facilitate instant, low-cost cross-border payments and foreign exchange.

#426

The European Union reached a political agreement in December 2024 to finalize a long-delayed trade deal with which bloc?

(a) ASEAN

(b) Mercosur

(c) GCC

(d) EAC

Explanation: The EU and Mercosur (Argentina, Brazil, Paraguay, Uruguay) reached a political agreement in late 2024 to finalize their trade deal after 25 years of negotiations.

#427

Global investment in renewable energy technologies reached approximately what record figure in 2024?

(a) $300 billion

(b) $500 billion

(c) $807 billion

(d) $1.2 trillion

Explanation: According to IRENA, global renewable energy investment hit a record $807 billion in 2024, though it remains concentrated in major economies.

#428

Which specific sector saw the largest share of energy transition investment in 2024?

(a) Hydrogen

(b) Electrified Transport (EVs)

(c) Nuclear Power

(d) Carbon Capture

Explanation: Electrified transport (primarily electric vehicles and infrastructure) was the largest sector for energy transition investment, surpassing renewable energy generation.

#429

Which country officially joined Project mBridge in 2024, adding significant weight to the platform's potential for non-dollar commodity settlements?

(a) India

(b) Saudi Arabia

(c) Russia

(d) South Africa

Explanation: The Saudi Central Bank joined Project mBridge in 2024, a move seen as strategically important for potential cross-border commodity settlements.

#430

The expiry of the 'Black Sea Grain Initiative' led to increased volatility in which global commodity market in 2024-2025?

(a) Crude Oil

(b) Wheat and Food Grains

(c) Semiconductors

(d) Rare Earth Metals

Explanation: The collapse of the grain deal affected global food security and prices, particularly for wheat and corn exports from Ukraine.

#431

In 2024-2025, the 'Magnificent Seven' stocks continued to drive market performance, primarily fueled by hype in:

(a) Green Hydrogen

(b) Artificial Intelligence (AI)

(c) Blockchain

(d) Virtual Reality

Explanation: The massive valuation growth of US tech giants (Magnificent Seven) was largely driven by the boom in Generative AI technologies and infrastructure.

#432

Which country withdrew from China's Belt and Road Initiative (BRI) in 2024, signaling a shift in G7 economic policy?

(a) France

(b) Italy

(c) Germany

(d) Canada

Explanation: Italy officially withdrew from the BRI in 2024, becoming the first and only G7 nation to leave the infrastructure pact.

#433

Which metal saw export controls imposed by China in 2023-2024, affecting the global semiconductor supply chain?

(a) Copper

(b) Gallium and Germanium

(c) Aluminum

(d) Steel

Explanation: China imposed export restrictions on Gallium and Germanium, two critical metals used in chipmaking, in response to Western tech sanctions.

#434

Which country’s stock market hit a 34-year high in 2024, finally surpassing its 1989 bubble era peak?

(a) China

(b) Japan (Nikkei 225)

(c) United Kingdom (FTSE 100)

(d) Brazil (Bovespa)

Explanation: Japan's Nikkei 225 index finally broke its 1989 record high in early 2024, driven by corporate governance reforms and a weak yen.

#435

Which major payment network acquired the stablecoin platform 'Bridge' in late 2024, signaling a merger of traditional finance and crypto?

(a) PayPal

(b) Stripe

(c) Visa

(d) Mastercard

Explanation: Stripe acquired the stablecoin platform Bridge for $1.1 billion in late 2024, a major bet on the future of stablecoins in global payments.

#436

The 'Global South' became a permanent member of the G20 in 2024 represented by which organization?

(a) ASEAN

(b) African Union (AU)

(c) Mercosur

(d) Arab League

Explanation: The African Union was admitted as a permanent member of the G20, giving the continent the same status as the European Union within the bloc.

#437

Which commodity price surged in 2024-2025 due to booming demand from data centers and the AI industry?

(a) Copper

(b) Cotton

(c) Wheat

(d) Lumber

Explanation: Copper prices rose significantly as it is essential for the power grids and infrastructure needed to support energy-hungry AI data centers.

#438

What significant currency trend occurred in 2024-2025 regarding the US Dollar?

(a) It collapsed to historic lows

(b) It remained strong due to high US interest rates

(c) It was replaced by the Euro as the top reserve currency

(d) It was pegged to Gold

Explanation: The US Dollar remained strong against other currencies because the Federal Reserve kept interest rates higher for longer than other central banks.

#439

Which country became the world's largest exporter of automobiles in 2024, overtaking Japan?

(a) Germany

(b) United States

(c) China

(d) South Korea

Explanation: Driven by a massive surge in Electric Vehicle (EV) exports, China overtook Japan to become the world's largest car exporter.

#440

Which Latin American country is developing a massive offshore oil boom that significantly boosted its GDP in 2024-2025?

(a) Venezuela

(b) Guyana

(c) Chile

(d) Peru

Explanation: Guyana has experienced the world's fastest GDP growth rates in recent years due to massive new offshore oil discoveries.

July 2024 Current Affairs MCQs & Solutions