The IMF quota system was created to raise funds for loans by its member states. Which among the following decide the quota for a member?
1. GDP
2. Openness of the Economy
3. International reserves
4. Human Development Index
Select the correct option from the codes given below:

Answer: [C] Only 1, 2 & 3

Quota involves several economic criteria such as- Member’s GDP, Its openness to trade, its volume of Current Account Transactions and its level of official revenues.

This question is a part of GKToday's Integrated IAS General Studies Module