This quiz works best with JavaScript enabled. Home > Economics > Institutions > General > Economic Institutions – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Institutions Quiz 3 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The most common type of bank accounts are A) CDs and DDAs. B) Mutual Funds. C) Money market accounts. D) Savings & Checking accounts. Show Answer Correct Answer: D) Savings & Checking accounts. 2. What is a large pool of money that several people put together and that is usually invested in stocks and bonds and managed by a financial expert. A) Stock. B) Bitcoin. C) Mutual fund. D) Bond. Show Answer Correct Answer: C) Mutual fund. 3. Choose an aspect of economic institutions A) Helps to put criminals in jail. B) Helps to cure diseases. C) Helps to provide funds for families. D) None of above. Show Answer Correct Answer: C) Helps to provide funds for families. 4. The borrower gives the lender his/her automobile title in exchange for a set amount of cash. A) Payday loan. B) Title loan. C) Rent-to-own loan. D) None of above. Show Answer Correct Answer: B) Title loan. 5. Which of the following currency has largest weightage in the determination of the value of the SDR? A) USD. B) British Pound. C) Yen. D) Euro. Show Answer Correct Answer: A) USD. 6. The forms of reciprocity are collectively known as A) Reciprocity Categorization. B) Sahlin's Codification. C) Sahlin's Typology. D) Reciprocity Order. Show Answer Correct Answer: C) Sahlin's Typology. 7. Digicel and Megamart are both examples of companies that are ..... A) Public-owned. B) Private-owned. C) Both private and public owned. D) None of above. Show Answer Correct Answer: B) Private-owned. 8. Which would be the best retirement savings option for a 40-year old engineer whose employer offers a five percent contribution match? A) IRA. B) Money market account. C) Basic savings account. D) 401(k). Show Answer Correct Answer: D) 401(k). 9. The following are institutions that participate in international affairs and relations but is not affiliated with any state or nation EXCEPT A) Development Bank of the Philippines. B) Trade Unions. C) Transnational Advocacy. D) Banks. Show Answer Correct Answer: A) Development Bank of the Philippines. 10. Factors of production are owned by individuals rather than by the government A) Communism. B) Capitalism. C) Socialism. D) Anarchy. Show Answer Correct Answer: B) Capitalism. 11. Which of the following country is not the member of the WTO? A) Iran. B) Azerbaijan. C) Belarus. D) None of these. Show Answer Correct Answer: D) None of these. 12. Which of the following is not the objective of the IMF? A) To ensure exchange rate stability. B) To promote international monetary cooperation. C) To provide loan to private sectors. D) To ensure balanced international trade. Show Answer Correct Answer: C) To provide loan to private sectors. 13. Which of the following currency is not included in the calculation of SDR value? A) INR. B) Yen. C) Pound. D) USD. Show Answer Correct Answer: A) INR. 14. If all the top political and economic units in the world were combined-and then the top 100 units were chosen-about what percentage of the top 100 units would be multinational corporations instead of countries? A) 75%. B) 95%. C) 25%. D) 45%. Show Answer Correct Answer: D) 45%. 15. Which of the following factor determines the voting share of AIIB? A) Purchasing power parity. B) Size of country's economy. C) Each country will have one vote without veto power. D) Both A & B. Show Answer Correct Answer: D) Both A & B. 16. Which of the following statement is not true about the WTO? A) WTO is a permanent organisation. B) Uruguay round gave the birth to the WTO. C) WTO was officially constituted on 1 January 1991. D) Ministerial Conference is the highest policy making body of the WTO. Show Answer Correct Answer: C) WTO was officially constituted on 1 January 1991. 17. Any corporation that has factories and offices in several countries A) Multimedia. B) Multilingual. C) Multigenerational. D) Multinational. Show Answer Correct Answer: D) Multinational. 18. Rules and regulations clearly outline the rights and obligations of those in power A) Absolute authority. B) Traditional authority. C) Charismatic authority. D) Rational-legal authority. Show Answer Correct Answer: D) Rational-legal authority. 19. Banks provide all of the following EXCEPT A) Check writing services. B) Debit cards. C) Loans. D) Government subsidies. Show Answer Correct Answer: D) Government subsidies. 20. Banks provide which of the following EXCEPT A) Check writing services. B) Government subsidies. C) Debit cards. D) Loans. Show Answer Correct Answer: B) Government subsidies. 21. Who pays interest on a loan A) A borrower. B) A creditor. C) A credit union. D) A lender. Show Answer Correct Answer: A) A borrower. 22. What is Mutual fund? A) Investment that you put in the ground. B) An investment that you put in your checking account. C) An investment in which investors pool their money to buy stock. D) Investment that you put in your swimming pool. Show Answer Correct Answer: C) An investment in which investors pool their money to buy stock. 23. A woman borrows money to buy a house. If she does not repay the money the bank loaned her the bank will take her house. What is her house A) Interest. B) Financial institution. C) Collateral. D) Budget. Show Answer Correct Answer: C) Collateral. 24. What did eighteenth-century Scottish social philosopher Adam Smith state was the regulator of economy? A) Self-interest. B) Mixed economic systems. C) Monopolies. D) State-owned small businesses. Show Answer Correct Answer: A) Self-interest. 25. Who is the current President of the World Bank Group? A) Robert Zoellick. B) Christine Lagarde. C) David Malpass. D) Jim Yong Kim. Show Answer Correct Answer: C) David Malpass. 26. Which of the following is known as the Paper Gold? A) Demand Draft. B) USD. C) SDR. D) Pound. Show Answer Correct Answer: C) SDR. 27. Why World Bank was established? A) None below. B) To improve the adverse Balance of Payment situation of the nonmember countries. C) To reconstruct the economies damaged during the Second World War. D) To promote the International Trade. Show Answer Correct Answer: C) To reconstruct the economies damaged during the Second World War. 28. It is used to describe an industry, organization, or business that is not owned by a government. A) Private-owned. B) Public-owned. C) Both private and public owned. D) None of above. Show Answer Correct Answer: A) Private-owned. 29. What are high-risk loans? A) Loans that are given to consumers with bad credit. B) Loans that are provided by commercial banks. C) Loans that are invested in high-risk stocks. D) Loans that are given for risky home properties. Show Answer Correct Answer: A) Loans that are given to consumers with bad credit. 30. Who owns a credit union? A) Commercial banks. B) Its members. C) Investment bankers. D) The government. Show Answer Correct Answer: B) Its members. ← PreviousNext →Related QuizzesInstitutions QuizzesEconomics QuizzesEconomic Institutions Quiz 1Economic Institutions Quiz 2Economic Institutions Quiz 4 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books