World Economy General Knowledge Questions and Answers

1. A common currency for the members of the Common Market in Europe is known as
Ans : Eurodollar

2. Which is the biggest toy retail chain in the world?
Ans : Toys R US

3. What is the code name given to the collective international action under UN authority to protect the Libyan people against Muammar Gaddafi’s forces?
Ans : Operation Odyssey Dawn

4. The BRIC economies are
Ans : Brazil, Russia, India,China

5. A recession is a situation when the level of economic activity (real GDP) has fallen for at least
Ans : Two consecutive quarters

6. Which country is the biggest exporter in the world (in US$ terms, 2008)?
Ans : Germany

7. Which country in the world consumes the most electricity?

Ans : USA

8. Which country has the higest rate of homeownership?
Ans : Spain

9. Which country is the most competitive in the world ( as reported by the world Economic Forum)?
An s: USA

10. How many countries are members of Association of Southeast Asian Nations(ASEAN)?
10 members

11. How many countries are members of the European Union?

Ans : 27

12. How many countries are there in Africa?
Ans : 54

13. Which Business School's Economics Department was ranked 3rd in the world in the 2009 FT Global MBA Ranking?
Ans : Cranfield

14. From 1929 to 1932, economic activity in the USA fell by a total of :
Ans : 31%

15. The three largest oil producing countries are in the world are?
Ans : Saudi Arabia, Russia and USA

16. Who is called the father of Economics?
Ans : Adam Smith

17. In which year was the new currency Euro introduced ?
Ans : 1999

18. The purpose of the World bank is to?
Ans : Give international loans for development purposes

19. Which country is estimated to have Worlds largest Shale gas reserve?
Ans. China

20. world's largest producer of uranium
Ans : Canada