Topic Details (Notes format)

International Economic Institutions

Subject: Economics

Book: Comprehensive Indian Economy

Entities like the IMF, World Bank, ADB, and AIIB offer financial support, policy advice, and development assistance. India’s engagement with these bodies provides capital for infrastructure, technology, and social programs. The IMF helps with balance-of-payments crises, while the World Bank funds poverty reduction and development. Additionally, regional banks (ADB, AIIB) focus on Asia-centric infrastructure. Exams might test the specific roles of each institution, conditionalities attached to loans, or India’s push for governance reforms (e.g., quota changes in IMF). Understanding these institutions clarifies how global frameworks interact with domestic policy decisions.

Practice Questions

Which of the following is considered a public good?

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What is the primary goal of a progressive tax system?

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Which is the largest source of tax revenue for the Government of India?

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What is the term for goods that are used together, such as cars and fuel?

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Which of the following is NOT a function of the World Trade Organization (WTO)?

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What is the significance of “Purchasing Power Parity” (PPP)?

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Which of the following is an example of a renewable resource?

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What does the term "depreciation" refer to in the context of assets?

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What does the term “capital account” refer to in the balance of payments?

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What is the term for the price at which demand and supply in a market are equal?

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