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International Organizations and Sovereignty Quiz

15 Questions

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International Organizations and Sovereignty Quiz

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Questions and Answers

What is the main reason why entities like the G20 are not considered actual IOs?

They do not possess their own bodies or organs (correct)

They do not have representatives from at least 44 States

They do not have the power to establish treaties

They do not participate in the International Court of Justice

Who were the main figures behind the establishment of IMF and WB at Bretton Woods in New Hampshire?

G20 and IO representatives

John Maynard Keynes and Harry Dexter White (correct)

Folke Bernadotte and Swiss professionals

US and UK representatives

What is the main function of the International Court of Justice in resolving disputes between States?

Solving disputes between States (correct)

Formalizing the loss of sovereignty of States

Establishing economic cooperation

Setting voting rights for IOs

What did the ICJ Advisory Opinion, delivered in 1949, set requirements for in order to be considered an IO?

$IOs$ should have their own bodies or organs Signup and view all the answers

What was the main driver of the conflict during WWII according to the text?

$Protectionism$ and competition between States Signup and view all the answers

When did the IMF become a specialized agency of the UN?

1947 Signup and view all the answers

Which country was not among the original 29 members to ratify the IMF founding treaty?

USSR Signup and view all the answers

Which article of the IMF Treaty stated that currency of each member state shall be expressed in terms of either gold or US $?

Article IV Signup and view all the answers

What was the original purpose of the IMF?

Overseeing the par value system Signup and view all the answers

What event led to the overcoming of the par value system in 1971?

'Nixon Shock' Signup and view all the answers

What was the main reason for President Nixon's decision to suspend US $/gold convertibility in 1971?

Decreasing US monetary gold stock due to internal use and funding the Vietnam war Signup and view all the answers

What was the impact of the 1973 and 1979 oil crises on the par value system?

The oil crises led to the collapse of the par value system Signup and view all the answers

What did the amendment of Article IV of the IMF founding treaty in 1978 require from member states?

Assure orderly exchange arrangements agreed with the Fund Signup and view all the answers

What was one implication of a state giving up monetary sovereignty through dollarization or euroization?

Losing control over its own currency Signup and view all the answers

What led to the interruption of the par value system as per the text?

$/gold convertibility suspension by President Nixon Signup and view all the answers