Free Global Economy MCQs with Answers

• A. South Asian Palm Oil Alliance (SAPOA)
• B. Asian Palm Oil Alliance (APOA)
• C. South Asian Oil Alliance (SAOA)
• D. Asian Oil Alliance (AOA)

Explanation: The alliance was named the Asian Palm Oil Alliance, bringing together edible-oil associations from five major South Asian importing…

• A. $120 billion
• B. $130 billion
• C. $140 billion
• D. None of These

Explanation: The European Commission proposed raising more than 140 billion dollars from excess energy-sector profits to help protect consumers from…

• A. $2 million
• B. $1 million
• C. $4 million
• D. $3 million

Explanation: Australia announced $2 million in humanitarian assistance for Pakistan’s 2022 flood response.

• A. Tesla & SpaceX
• B. Amazon & Google
• C. Apple Inc & NASA
• D. All of Above

Explanation: Elon Musk founded or leads Tesla and SpaceX, making option a the only valid pair. Amazon, Google, Apple and NASA are not all owned by Musk.

• A. Rakesh Jhunjhunwala
• B. Gautam Adani
• C. Mukesh Ambani
• D. None of These

Explanation: Rakesh Jhunjhunwala was widely called the ‘Warren Buffett of India’ because of his successful investment career. He died in August 2022.

• A. Asia
• B. Africa
• C. Europe
• D. None of These

Explanation: In 2022, Europe was widely expected to face recession because of the energy crisis, high inflation and disruptions linked to the…

• A. India
• B. Israel
• C. KSA
• D. Ethiopia

Explanation: Egypt signed an agreement with India involving investment of about $8 billion in the Suez Canal Economic Zone.

• A. 5 Trillion
• B. 6 Trillion
• C. 5 Billion
• D. 6 Billion

Explanation: Habib Bank Limited became the first Pakistani bank to cross a Rs. 5 trillion balance sheet.

• A. Tajikistan and Columbia
• B. Iran and Argentina
• C. Iraq and Saudi Arabia
• D. Kenya and Chile

Explanation: Iran and Argentina formally applied to join BRICS in 2022. Argentina was later not included in the 2023 expansion, while Iran became a…

• A. India
• B. Australia
• C. Brazil
• D. Indonesia

Explanation: Indonesia held the G20 presidency in 2022, following Italy and preceding India.

• A. Joko Widodo
• B. Salman bin Abdulaziz
• C. Mauricio Macri
• D. None of the above

Explanation: Joko Widodo, Indonesia’s president, led the G20 during Indonesia’s 2022 presidency.

• A. Canada
• B. Iran
• C. Israel
• D. Japan

Explanation: Iran formally applied to join BRICS in June 2022, seeking membership in the group of major emerging economies.

• A. 6.11
• B. 6.15
• C. 6.50
• D. None of the above

Explanation: Bangladesh’s Padma Bridge is approximately 6.15 kilometres long. It carries a four-lane road and a single railway line, linking the…

• A. India
• B. Nepal
• C. Bangladesh
• D. None of these

Explanation: The Padma Bridge was opened in Bangladesh in June 2022. It crosses the Padma River and is one of the country’s largest infrastructure…

• A. April
• B. May
• C. June
• D. July

Explanation: The International Day of Family Remittances is observed on 16 June each year.

• A. India
• B. China
• C. Brazil
• D. Pakistan

Explanation: China was generally reported as having the world’s largest labour force in the period covered by this question, ahead of India.

• A. United States of America
• B. China
• C. India
• D. Germany

Explanation: India has the largest number of universities in the world according to the cited comparative education data.

• A. Texas
• B. New York
• C. Florida
• D. None of These

Explanation: New York became the first US state to pass a broad right-to-repair law for digital electronic equipment.

• A. 522 Million
• B. 733 Million
• C. 884 Million
• D. None of These

Explanation: The World Bank reported that about 733 million people globally lacked access to electricity.

• A. June 1
• B. June 3
• C. June 5
• D. None of These

Explanation: World Milk Day is observed on 1 June each year to highlight the importance of milk and the dairy sector, so June 3 and June 5 are incorrect.