Historical Development of These International Financial Organizations - SS3 Economics Past Questions & Answers - page 1

1

When was the European Coal and Steel Community (ECA) created?

A

 1944

B

1951

 

C

1960 

D

1995

CORRECT OPTION: b
2

Which organization was established to promote international monetary cooperation and exchange rate stability?

A

 International Monetary Fund (IMF)

B

World Trade Organization (WTO)

C

United Nations Conference on Trade and Development (UNCTAD)

D

Asian Development Bank (ADB)

 

CORRECT OPTION: a
3

What is the primary function of the International Bank for Reconstruction and Development (IBRD)?

A

To promote economic development in Asia and the Pacific

B

To provide loans and technical assistance to developing countries for economic development

 

C

To coordinate the production and trade of coal and steel among European countries

D

To promote free trade and reduce trade barriers among member countries

CORRECT OPTION: b
4

What is the main purpose of the Organization of the Petroleum Exporting Countries (OPEC)?

A

To provide loans and technical assistance to developing countries

B

To coordinate oil production policies and stabilize oil prices

C

To promote economic development in Asia and the Pacific

D

To promote free trade and reduce trade barriers among member countries

 

CORRECT OPTION: b
5

Which organization was founded to promote economic development in Asia and the Pacific?

A

 International Monetary Fund (IMF)

B

Asian Development Bank (ADB)

C

United Nations Conference on Trade and Development (UNCTAD)

D

World Association of Investment Promotion Agencies (WAIPA)

 

CORRECT OPTION: b
6

Which organization was established to promote free trade and reduce trade barriers among member countries?

A

International Bank for Reconstruction and Development (IBRD)

B

General Agreement on Tariffs and Trade (GATT)

C

World Association of Investment Promotion Agencies (WAIPA)

D

European Coal and Steel Community (ECA)

 

CORRECT OPTION: b
7

When was the World Trade Organization (WTO) established?

A

1944

B

1951

C

1964

D

1995 

 

CORRECT OPTION: d
8

What is the purpose of the United Nations Conference on Trade and Development (UNCTAD)?

The purpose of the United Nations Conference on Trade and Development (UNCTAD) is to promote trade and economic development in developing countries by providing policy recommendations, research, and technical assistance.

 

9

Which international financial organization was founded in 1947 to promote free trade and reduce trade barriers among member countries?

General Agreement on Tariffs and Trade (GATT)

 

10

What is the primary function of the World Association of Investment Promotion Agencies (WAIPA)?

 

The primary function of the World Association of Investment Promotion Agencies (WAIPA) is to promote investment and economic development by fostering cooperation and exchange of information among investment promotion agencies worldwide.

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