3B.2.2 Economic governance: IMF, World Bank, WTO, G7/G8 and G20 Quiz: Pearson Edexcel Politics, Unit 4

The 20 questions

1. The International Monetary Fund and the World Bank were both established in which year?

   • 1948
   • 1919
   • 1967
   • 1944

2. What is the primary function of the International Monetary Fund?

   • Dispute settlement enforcement
   • Short-term financial stability
   • Long-term economic development
   • Informal policy coordination

3. What is the primary function of the World Bank?

   • Short-term crisis loans
   • Currency exchange management
   • Long-term development loans
   • Global trade arbitration

4. Which organisation replaced the General Agreement on Tariffs and Trade in 1995?

   • World Bank
   • OECD
   • World Trade Organisation
   • International Monetary Fund

5. What requirement was typically attached to traditional Structural Adjustment Programmes?

   • Free-market policy conditions
   • Fixed exchange rates
   • Unconditional financial aid
   • Mandatory debt cancellation

6. What main feature distinguished Poverty Reduction Strategy Papers from earlier SAPs?

   • Unilateral tariff removal
   • Country-led strategy plans
   • Strict Western imposition
   • Mandatory spending mandates

7. What does the North-South divide describe in global politics?

   • Cold War alliances
   • Polar territorial disputes
   • Global socio-economic inequality
   • Hemispheric trade blocs

8. According to dependency theory, why do developing nations remain poor?

   • Inefficient central planning
   • Lack of resources
   • Core state exploitation
   • High domestic taxes

9. How does world-systems theory divide the global economy?

   • Developed and developing
   • First, second, third
   • East, west, south
   • Core, semi-periphery, periphery

10. Which theory holds that free markets and integration into the global economy promote development?

    • Structural theory
    • Neo-classical theory
    • World-systems theory
    • Dependency theory

11. Which theory highlights structural barriers like primary commodity reliance in developing nations?

    • Structuralism
    • Neoliberalism
    • Modernisation theory
    • Realism

12. Why are IMF conditional loans frequently criticised by anti-poverty campaigners?

    • They enforce austerity
    • They force inflation
    • They restrict trade
    • They raise tariffs

13. How are voting rights allocated among member states in the IMF?

    • Equal state voting
    • Geographic size
    • Financial contribution size
    • Population size

14. How does the World Trade Organisation resolve international trade conflicts?

    • Binding arbitration panels
    • Informal bilateral talks
    • Executive presidential decrees
    • Military trade blockades

15. The G7 was originally formed as the G6 in which decade?

    • 2000s
    • 1970s
    • 1990s
    • 1950s

16. In which year was Russia suspended from the G8 following the annexation of Crimea?

    • 2014
    • 2008
    • 2022
    • 2018

17. When was the G20 first held at leader level?

    • 1999
    • 1975
    • 2015
    • 2008

18. Which key feature distinguishes the G20 from the G7?

    • Excludes Western nations
    • Operates single currency
    • Has binding powers
    • Includes emerging economies

19. What is a major criticism of decisions made by the G7 and G20?

    • Lack binding authority
    • Command standing armies
    • Require UN approval
    • Exclude major powers

20. Which international organisation provides long-term loans aimed specifically at reducing global poverty?

    • OECD
    • WTO
    • World Bank
    • IMF

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