In the context of international climate finance, the 'Loss and Damage' agenda refers to: MCQ with Answer and Explanation

In the context of international climate finance, the 'Loss and Damage' agenda refers to:
A. Only mitigation finance
B. Only private insurance markets
C. Support for developing countries facing irreversible impacts of climate change that cannot be adapted to
D. Only adaptation finance within national borders
Answer: Option C
Solution (By JKSSB Mock Tests)
Loss and damage refers to the adverse effects of climate change that cannot be avoided through mitigation or adaptation; the agenda seeks financial and technical support for particularly vulnerable countries.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is a characteristic of 'Libertarian Paternalism'?
A. The design of policies that steer people toward better choices while preserving freedom of choice
B. The complete rejection of any paternalistic intervention
C. Only laissez-faire without any guidance
D. The use of mandates that eliminate choice

Correct Answer: Option A


Explanation:
Libertarian paternalism, the philosophical foundation of nudge theory, advocates interventions that improve welfare by guiding choices without restricting the set of available options.

This question belongs to: Economy GK Economy Set 1
Question #2
In the Keynesian model, the consumption function is given by C = a + bY, where 'b' represents:
A. Marginal propensity to consume
B. Average propensity to consume
C. Autonomous consumption
D. Marginal propensity to save

Correct Answer: Option A


Explanation:
In the consumption function C = a + bY, 'a' is autonomous consumption and 'b' is the marginal propensity to consume (MPC).

This question belongs to: Economy GK Economy Set 1
Question #3
In the context of elasticity of demand, which of the following goods is likely to have inelastic demand?
A. Jewellery
B. Salt
C. Air conditioners
D. Luxury cars

Correct Answer: Option B


Explanation:
Necessities like salt have inelastic demand because quantity demanded does not change significantly with price changes. Luxuries tend to have elastic demand.

This question belongs to: Economy GK Economy Set 1