world organisations section 3 MCQ Questions & Answers Detailed Explanation

Answer: (a)

Essentially, the WTO is a place where member governments go to try to sort out the trade problems they face with each other. The first step is to talk. The WTO was born out of negotiations, and everything the WTO does is the result of negotiations.

Answer: (b)

The International Monetary Fund is headquartered in Washington, D.C., United States. It is an international organization that was created on July 22, 1944 at the Bretton Woods Conference and came into existence on December 27, 1945 when 29 countries signed the Articles of Agreement.

Answer: (c)

Human Development Index (HDI) is published by the United Nations Development Programme (UNDP), the global development network of the United Nations.

HDI is a statistical tool used to measure a country’s overall achievement in terms of health of people, their level of education attainment and their standard of living.

Answer: (c)

The World Bank is an international financial institution that provides loans to developing countries for capital programs.

The World Bank’s official goal is the reduction of poverty. According to the World Bank’s Articles of Agreement (as amended effective 16 February 1989), all of its decisions must be guided by a commitment to promote foreign investment, international trade, and facilitate capital investment.

The effect of structural adjustment policies on poor countries has been one of the most significant criticisms of the World Bank. The 1979 energy crisis plunged many countries into an economic crisis.

The World Bank responded with structural adjustment loans which distributed aid to struggling countries while enforcing policy changes in order to reduce inflation and fiscal imbalance.

Answer: (d)

General Agreement on Trade and Tariffs

Answer: (a)

The Food and Agriculture Organization of the United Nations (FAO) is a specialized agency of the United Nations that leads international efforts to defeat hunger.

It serves both developed and developing countries. The world headquarters are located in Rome, in the former seat of the Department of Italian East Africa.

One of the most notable features of the building was the Axum Obelisk which stood in front of the agency seat, although just outside of the territory allocated to FAO by the Italian Government.

It was taken from Ethiopia by Benito Mussolini’s troops in 1937 as a war chest and returned on 18 April 2005.