Ans: C

Exp:

The Multidimensional Poverty Index (MPI) is published by the UNDP’s Human Development Report Office and tracks deprivation across three dimensions and 10 indicators: health (child mortality, nutrition), education (years of schooling, enrollment), and living standards (water, sanitation, electricity, cooking fuel, floor, assets). Hence, Options 1, 2 and 3 are correct.

Ans: C

Exp:

Option a is correct: The WTO has many roles: it operates a global system of trade rules, it acts as a forum for negotiating trade agreements, it settles trade disputes between its members and it supports the needs of developing countries.

Option b is correct: The WTO agreements cover goods, services and intellectual property. They spell out the principles of liberalization and the permitted exceptions. They include individual countries’ commitments to lower customs tariffs and other trade barriers, and to open and keep open services markets. 

Option c is incorrect: All UN member nations are not a member of WTO. The WTO’s membership has expanded to 164 members, representing over 98% of international trade.

Option d is correct: The Ministerial Conference is the highest decision-making body of the WTO and usually meets every two years. The WTO’s first Ministerial Conference was held in Singapore in December 1996.

Ans: D

Exp:

Option a is correct: The World Bank is an international development organization owned by 187 countries. Its role is to reduce poverty by lending money to the governments of its poorer members to improve their economies and to improve the standard of living of their people.

Option b is correct: The Bank is also one of the world’s largest research centers in development. It has specialized departments that use this knowledge to advise countries in areas like health, education, nutrition, finance, justice, law and the environment.

Option c is correct: The World Bank was established in 1944 to help rebuild Europe and Japan after World War II. Its official name was the International Bank for Reconstruction and Development (IBRD). When it first began operations in 1946, it had 38 members.

Option d is incorrect: The number of shares a country has is based roughly on the size of its economy. The Bank members are its shareholders. The United States is the largest single shareholder, followed by Japan, Germany, the United Kingdom, and France.

Ans: B

Exp:

Statement 1 is incorrect: From 31 members at its establishment in 1966, ADB has grown to encompass 68 members—of which 49 are from within Asia and the Pacific and 19 countries from outside the region.

Statement 2 is correct: ADB assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.

Statement 3 is correct: ADB’s highest policy-making body is the Board of Governors, which comprises one representative from each member – 49 from the Asia and Pacific region and 19 from outside the region.

Ans: B

Exp:

Statement 1 is incorrect: The Board of Governors, the highest decision-making body of the IMF, consists of one governor and one alternate governor for each member country. The governor is appointed by the member country and is usually the minister of finance or the governor of the central bank. 

Statement 2 is correct: Member quotas are the primary source of IMF funding. A member country’s quota reflects its size and position in the world economy.

Statement 3 is incorrect: The SDR is an international reserve asset. The SDR is not a currency, but its value is based on a basket of five currencies—the US dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound sterling.