Tag: the making of a global world

Questions Related to the making of a global world

Which of the following statements regarding International monetary system was incorrect ?

history the making of a global world causes of nazism feudalism in europe british exploitation of the indian economy

  1. Veto power regarding decision of IMF and World Bank can be exercised by US

  2. IMF was established to finance post war reconstruction

  3. World Bank is popular name of International Bank for Reconstruction and Development

  4. None of these

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Correct Option: B

The year 1947 was associated with which of the following major events in the world economic front?

history the making of a global world causes of nazism feudalism in europe british exploitation of the indian economy

  1. Establishment of IMF

  2. Establishment of world bank

  3. Starting of operation of IMF and World Bank

  4. Formation of G-77

Show answer
Correct Option: C
Explanation:

The IMF and the World Bank commenced financial operations in 1947. Decision-making in these institutions is controlled by the Western industrial powers. The US has an effective right of veto over key IMF and World Bank decisions. 

The Silk Route was taken by _________.

history the making of a global world causes of nazism feudalism in europe british exploitation of the indian economy

  1. West-bound Chinese silk cargoes

  2. East-bound Chinese silk cargoes

  3. North-bound Chinese silk cargoes

  4. South-bound Chinese silk cargoes

Show answer
Correct Option: A
Explanation:

The silk routes are a good example of vibrant pre-modern trade and cultural links between distant parts of the world. The name ‘silk routes’ points to the importance of West-bound Chinese silk cargoes along this route. Historians have identified several silk routes, over land and by sea, knitting together vast regions of Asia, and linking Asia with Europe and northern Africa. They are known to have existed since before the Christian Era and thrived almost till the fifteenth century. But Chinese pottery also travelled the same route, as did textiles and spices from India and Southeast Asia. In return, precious metals – gold and silver – flowed from Europe to Asia. 

Which of the following organizations was not set up during Bretton Woods conference ?

history the making of a global world causes of nazism feudalism in europe british exploitation of the indian economy

  1. International Monetary Fund

  2. International Bank for Reconstruction and Development

  3. World Bank

  4. American Express Bank

Show answer
Correct Option: D

The British policy of free trade was designed to _______the British industrialists.

history the making of a global world causes of nazism feudalism in europe british exploitation of the indian economy

  1. promote

  2. fight

  3. remove 

  4. none of these

Show answer
Correct Option: A
Explanation:
British free trade came in the 1840s after a bitter political struggle to repeal the Corn Laws—a name given to a series of agricultural tariffs and quotas designed to keep farm prices high. This was quickly followed by rapid and dramatic reductions in duties on hundreds of imports.
By the 1850s, all but a handful of commodities were admitted to Britain free of all duties. Trade should mean just that: free trade, with all goods admitted without duties, quotas, or restrictions. That was not British policy. They removed most tariffs but mostly on items in which they had a comparative advantage. In other words, they mostly removed tariffs on items for which Britain had little to fear in terms of competition or which were of trivial importance in overall trade.
Thus, it promoted British industrialists.

The Great Depression was a period of ______.

history the making of a global world causes of nazism feudalism in europe british exploitation of the indian economy

  1. Political crisis

  2. Social crisis

  3. Environmental crisis

  4. Economic crisis

  5. None of these

Show answer
Correct Option: D
Explanation:

The Great Depression was an economic slump in North America, Europe, and other industrialised areas of the world that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialised Western world. Factories shut down, exports fell, farmers were badly hit and speculators withdrew their money from the market.

What was the important goal of The Federal Deposit Insurance Corp (FDIC), which was an integral part of The Banking Act of 1933?

history the making of a global world causes of nazism feudalism in europe british exploitation of the indian economy

  1. To prevent massive bank failure such as what was experienced between 1929 and 1932.

  2. To encourage Americans to refrain from using their savings to invest in the stock market.

  3. To offer cheap mortgage insurance to struggling Americans.

  4. To increase bank reserves in order to banks to lend credit to American businesses.

  5. To convince skeptical Americans about the safety of depositing their money in re-opened banks.

Show answer
Correct Option: A
Explanation:

The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation providing deposit insurance to depositors in US banks. The FDIC was created by the 1933 Banking Act after the Great Depression to restore trust in the American banking system; more than one-third of banks failed in the years before the FDIC's creation, and bank runs were common.

 

Which city was called the fabled “City of Gold”?

history the making of a global world causes of nazism feudalism in europe british exploitation of the indian economy

  1. Peru

  2. Mexico

  3. El Dorado

  4. Spain

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Correct Option: C
Explanation:

Legends spread in seventeenth-century Europe about South America’s fabled wealth. Many expeditions set off in search of El Dorado, the fabled city of gold. 

Which of the following is not a economic exchange?

history the making of a global world causes of nazism feudalism in europe british exploitation of the indian economy

  1. Flow of labour

  2. Flow of capital

  3. Flow of knowledge

  4. Flow of trade

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Correct Option: C

What is the growth rate of economy?

history the making of a global world causes of nazism feudalism in europe british exploitation of the indian economy

  1. 8%

  2. 7%

  3. 6%

  4. 5%

Show answer
Correct Option: A
Explanation:

Globalization is a boon for developing nations. The growth rate of economy is 8%. New technology has added to growth of cities, but villages are deprived of development.