QUES: Current Governor of the Reserve Bank of India Raghuram Rajan had predicted the crisis in 2005 when he became chief economist at the International Monetary Fund.In 2005, at a celebration honouring Alan Greenspan, who was about to retire as chairman of the US Federal Reserve, Rajan delivered a controversial paper that was critical of the financial sector. In that paper, "Has Financial Development Made the World Riskier?", Rajan "argued that disaster might loom." Rajan argued that financial sector managers were encouraged to "take risks that generate severe adverse consequences with small probability but, in return, offer generous compensation the rest of the time. These risks are known as tail risks. But perhaps the most important concern is whether banks will be able to provide liquidity to financial markets so that if the tail risk does materialise, financial positions can be unwound and losses allocated so that the consequences to the real economy are minimised."

In 2005, where did Rajan deliver a controversial paper that was critical of the financial paper?
What is the answer?
ANS: at a celebration honouring Alan Greenspan
QUES: Anti-government protests in 1991 led to a coup, a transitional government, and a new constitution. Opposition to the corrupt and dictatorial regime of General Moussa Traoré grew during the 1980s. During this time strict programs, imposed to satisfy demands of the International Monetary Fund, brought increased hardship upon the country's population, while elites close to the government supposedly lived in growing wealth. Peaceful student protests in January 1991 were brutally suppressed, with mass arrests and torture of leaders and participants. Scattered acts of rioting and vandalism of public buildings followed, but most actions by the dissidents remained nonviolent.

Who is subject to mass arrests in the 1980s?
What is the answer?
ANS: unanswerable
QUES: Switzerland has an overwhelmingly private sector economy and low tax rates by Western World standards; overall taxation is one of the smallest of developed countries. Switzerland is a relatively easy place to do business, currently ranking 20th of 189 countries in the Ease of Doing Business Index. The slow growth Switzerland experienced in the 1990s and the early 2000s has brought greater support for economic reforms and harmonization with the European Union. According to Credit Suisse, only about 37% of residents own their own homes, one of the lowest rates of home ownership in Europe. Housing and food price levels were 171% and 145% of the EU-25 index in 2007, compared to 113% and 104% in Germany.

According to Credit Suisse, what percentage of residents own their homes?
What is the answer?
ANS:
about 37%