Free Global Economy MCQs with Answers
448 Global Economy MCQs from International Current Affairs, each with the correct answer and a written explanation of why it is correct. Free and unlimited, with no account needed.
Global economy covers growth, inflation, interest rates, exchange rates, public debt, trade and employment across major economies. It also includes the work of the IMF, World Bank, WTO and central banks, along with oil and commodity prices, supply-chain disruptions, sanctions, trade agreements and the economic effects of international crises.
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448 questions · page 14 of 23
- A. Federal Reserve Bank
- B. Bank of Spain
- C. European Reserve Bank
- D. Bank of England
Explanation: Venezuela took legal action against the Bank of England over roughly $1 billion in Venezuelan gold reserves held in London.
Correct answer: Bank of England- A. Cathy Pacific
- B. Avianca
- C. Virgin Australia
- D. Flybe
Explanation: Flybe collapsed in March 2020 after severe financial problems were worsened by the COVID-19 crisis, and it was widely described as the…
Correct answer: Flybe- A. Simona Halep
- B. Ana Ivanovic
- C. Sofia Kenin
- D. Naomi Osaka
Explanation: Naomi Osaka became the world's highest-paid female athlete in Forbes' 2020 ranking, earning more than Serena Williams during the measured…
Correct answer: Naomi Osaka- A. UK
- B. US
- C. Germany
- D. Canada
Explanation: The US Senate passed the Holding Foreign Companies Accountable Act, which could delist Chinese companies that failed to meet US auditing…
Correct answer: US- A. $ 3.8 trillion
- B. $ 5.2 trillion
- C. $ 4 trillion
- D. $ 3.9 trillion
Explanation: The Committee for a Responsible Federal Budget projected that the US federal deficit could exceed $3.8 trillion in fiscal year 2020…
Correct answer: $ 3.8 trillion- A. Pakistan
- B. Syria
- C. UAE
- D. Iran
Explanation: The United States renewed Iraq’s waiver to import electricity from Iran, despite wider US sanctions on Tehran.
Correct answer: Iran- A. China
- B. India
- C. Oman
- D. Saudi Arabia
Explanation: SIPRI’s 2020 report identified Oman as having the world’s highest military expenditure as a share of GDP in 2019, at about 8.8%.
Correct answer: Oman- A. 25%
- B. 28%
- C. 30%
- D. 38%
Explanation: Jack Dorsey pledged $1 billion for COVID-19 relief, described as approximately 28% of his wealth at the time.
Correct answer: 28%- A. On 19th April 2020
- B. On 20th April 2020
- C. On 21st April 2020
- D. None of above
Explanation: US benchmark West Texas Intermediate futures briefly fell below zero on 20 April 2020 because storage was nearly full and traders were…
Correct answer: On 20th April 2020270. Leonardo Dicaprio, the Hollywood star recently launched a coronavirus fund by the name of________?
- A. America's Health Relief
- B. America's Food Relief
- C. America's Health Fund
- D. America's Food Fund
Explanation: Leonardo DiCaprio and other public figures launched America’s Food Fund to support people facing food insecurity during the COVID-19…
Correct answer: America's Food Fund- A. 9.5 million B/D
- B. 9.6 million B/D
- C. 9.7 million B/D
- D. 9.8 million B/D
Explanation: The initial OPEC+ agreement called for a record reduction of about 9.7 million barrels per day during May and June 2020.
Correct answer: 9.7 million B/D- A. Japan
- B. US
- C. China
- D. South Korea
Explanation: China was the only major steel-producing country among these options to report a slight rise in crude steel output in April 2020.
Correct answer: China- A. Spain
- B. Italy
- C. Denmark
- D. Germany
Explanation: Thomas Schäfer, Germany’s finance minister for the state of Hesse, died by suicide amid concerns about the economic impact of COVID-19.
Correct answer: Germany- A. $50 Billion
- B. $100 Billion
- C. $150 Billion
- D. $200 Billion
Explanation: The UN tourism estimate placed the potential global loss at roughly 50 billion dollars, alongside an expected fall in international…
Correct answer: $50 Billion- A. $35 billion
- B. $43 billion
- C. $50 billion
- D. $54 billion
Explanation: The IMF announced a $50 billion emergency financing package for countries affected by the coronavirus crisis, using its rapid-disbursement…
Correct answer: $50 billion- A. World Bank
- B. World Economic Forum
- C. International Monitory Fund
- D. United Nations
Explanation: The World Economic Forum launched the COVID Action Platform to coordinate businesses, governments and other stakeholders against the…
Correct answer: World Economic Forum277. The World Bank has announced how much Aid package to help countries combat Coronavirus outbreak?
- A. USD 10 billion
- B. USD 12 billion
- C. USD 14 billion
- D. USD 16 billion
Explanation: The World Bank announced a 12-billion-dollar package to help countries address the health and economic effects of COVID-19.
Correct answer: USD 12 billion- A. Japan
- B. United States
- C. European Union
- D. All of these
Explanation: UNCTAD estimated that the European Union faced the largest economic impact because its industries and supply chains were strongly…
Correct answer: European Union- A. Mauritius
- B. Kenya
- C. Zimbabwe
- D. Ethiopia
Explanation: Mauritius was added to the FATF list of jurisdictions under increased monitoring, commonly called the grey list, in February 2020.
Correct answer: Mauritius- A. Asian Development Bank
- B. International Monetary Fund
- C. World Bank
- D. None of these
Explanation: The Asian Development Bank announced 200 million dollars in support for companies involved in producing medicines and other essential…
Correct answer: Asian Development Bank