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    Question

    The International Monetary Fund (IMF), the World Bank

    and the International Trade Organization were conceived at the Breton Woods Conference in July 1944 as institutions to strengthen international economic cooperation and to help create a more stable and prosperous global economy.┬а While the IMF and the World Bank came into existence and started functioning in 1946, the International Trade┬а Organization could not be set up. Instead, the General┬а Agreement on Tariffs and Trade (GATT) was set up in 1947. Through successive rounds of negotiations, the GATT transformed into what has come to be known as the World┬а Trade Organization (WTO) which started functioning on January 1, 1995. The various institutions have been set up to govern international economic relations. While all the institutions work in close coordination with each otherтАжтАжтАжтАжтАж..┬а┬а In each of the following questions a short passage is given with one of the lines in the passage missing and represented by a blank. Select the best out of the five answer choices given, to make the passage complete and coherent.┬а┬а
    A Each of the institutions is independent Correct Answer Incorrect Answer
    B Each of these institutions works with a different focus in a different direction Correct Answer Incorrect Answer
    C Each of these institutions has its own specific area of responsibilities Correct Answer Incorrect Answer
    D Each of these institutions has a major role to play in each otherтАЩs work Correct Answer Incorrect Answer
    E Each of these institutions has an imprint of its work on otherтАЩs performance. Correct Answer Incorrect Answer

    Solution

    The passage describes the establishment of international financial institutions like the IMF, World Bank, and WTO, each with distinct roles in global economic stability. The missing line should clarify how these institutions operate alongside each other while maintaining individual responsibilities. Option (c) logically completes the sentence by clarifying that while the institutions work in coordination, they have distinct responsibilities. This fits the context better than the other options, as it highlights their complementary but independent roles.

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