The 'Agreement on Agriculture' under WTO came into force in which year? MCQ with Answer and Explanation

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The 'Agreement on Agriculture' under WTO came into force in which year?

A. 1994

B. 1998

C. 1995

D. 2000

Answer: Option C

Solution (By JKSSB Mock Tests)

The Agreement on Agriculture came into force in 1995.

This question belongs to: Economy GK Economy Set 1

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Question #1

The concept of 'Stranded Assets' in the energy transition refers to:

A. Only newly created green assets

B. Only fully depreciated assets

C. Assets that suffer unanticipated write-downs or devaluations because of climate-related risks and the shift to a low-carbon economy

D. Only financial assets unrelated to the real economy

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Correct Answer: Option C

Explanation:
Stranded assets are those that lose economic value prematurely as a result of changes associated with the energy transition, such as policy shifts, technological change or shifts in demand away from fossil fuels.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Index of Industrial Production' covers which sectors?

A. Mining, manufacturing and electricity

B. Only manufacturing

C. Services

D. Agriculture and forestry

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Correct Answer: Option A

Explanation:
IIP covers mining, manufacturing and electricity.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of money, 'Near Money' includes:

A. Only demand deposits

B. Time deposits, savings deposits and other highly liquid assets

C. Only gold reserves

D. Currency notes and coins only

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Correct Answer: Option B

Explanation:
Near money refers to assets that are highly liquid and can be converted into cash quickly with minimal loss of value, such as time deposits and certain money market instruments.

This question belongs to: Economy GK Economy Set 1

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