Time Left:
600
sec
1. Mass production lowered costs and prices, enabling workers to buy:
A. Only bread
B. Durable consumer goods such as cars
C. Only land
D. Only gold
2. The Great Depression began around which year?
A. 1914
B. 1929
C. 1935
D. 1944
3. During the Depression, agricultural regions suffered most because:
A. They were richer
B. Fall in agricultural prices was greater and prolonged
C. They imported more cars
D. They had more banks
4. In the mid-1920s many countries financed their investments through loans from:
A. Britain
B. US
C. China
D. India
5. By 1933 over how many banks had closed in the US?
A. 400
B. 4,000
C. 40,000
D. 400,000
6. In India, between 1928 and 1934 wheat prices fell by:
A. 10%
B. 25%
C. 50%
D. 75%
7. According to the Bengal jute growers’ lament, who profits from jute cultivation?
A. Peasants
B. Traders
C. British officials
D. All equally
8. India’s gold exports during the Depression:
A. Promoted global economic recovery
B. Reduced Britain’s recovery
C. Increased Indian peasant income
D. Stopped international trade
9. The Second World War was fought between which main alliances?
A. Axis powers vs Allies
B. Europe vs Asia
C. France vs Germany alone
D. US vs USSR
10. Approximately how many people were killed as a result of the Second World War?
A. 10 million
B. 30 million
C. 60 million
D. 90 million
11. Which conference in July 1944 created the IMF and the World Bank?
A. Berlin Conference
B. Bretton Woods Conference
C. Geneva Conference
D. Paris Peace Conference
12. The Bretton Woods system was based on:
A. Floating exchange rates
B. Fixed exchange rates pegged to the dollar
C. Barter trade
D. Gold coins only
13. World trade grew annually at over what percent between 1950 and 1970 under Bretton Woods?
A. 2%
B. 5%
C. 8%
D. 12%
14. Most developing countries organised as which group to demand a new international economic order?
A. G-20
B. G-15
C. G-77
D. UNCTAD
15. By “new international economic order” developing countries meant:
A. Free trade only
B. Real control over resources, fairer prices, more access to markets
C. More colonies
D. Fewer exports
16. What are MNCs?
A. Nationalised companies
B. Multinational corporations operating in several countries
C. Military national councils
D. Micro national companies
17. The collapse of the Soviet Union and new policies in China brought many countries:
A. Out of the world economy
B. Into the fold of the world economy
C. Into isolation
D. Into war
18. Wages were relatively low in countries like China making them:
A. Unattractive for MNCs
B. Attractive destinations for investment
C. Only export markets
D. Non-competitive
19. The relocation of industry to low-wage countries stimulated:
A. Only local markets
B. World trade and capital flows
C. Civil wars
D. Price increases only
20. By the late twentieth century countries such as India, China and Brazil had undergone:
A. Economic isolation
B. Rapid economic transformation
C. De-industrialisation
D. Only agricultural growth
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