The 'Agreement on Agriculture' under WTO covers: MCQ with Answer and Explanation

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The 'Agreement on Agriculture' under WTO covers:

A. domestic support, market access and export subsidies in agriculture

B. intellectual property

C. banking regulation

D. industrial subsidies

Answer: Option A

Solution (By JKSSB Mock Tests)

The WTO Agreement on Agriculture covers domestic support, market access and export subsidies.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

In 1969, the Government of India nationalized how many major commercial banks?

A. 6

B. 20

C. 10

D. 14

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Correct Answer: Option D

Explanation:
In 1969, 14 major commercial banks were nationalized.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of banking regulation, the Capital Adequacy Ratio is prescribed to:

A. Determine the interest rate on deposits

B. Determine the dividend payout

C. Fix the CRR level

D. Ensure banks maintain sufficient capital relative to risk-weighted assets

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Correct Answer: Option D

Explanation:
Capital Adequacy Ratio (CAR) requires banks to hold a minimum amount of capital in proportion to their risk-weighted assets to absorb potential losses and protect depositors.

This question belongs to: Economy GK Economy Set 1

Question #3

The liquidity trap is a situation where:

A. investment is very high

B. interest rates are very low and speculative money demand becomes perfectly elastic

C. money supply is zero

D. interest rates are very high

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Correct Answer: Option B

Explanation:
In a liquidity trap, interest rates are so low that people hold any amount of money, making speculative money demand perfectly elastic.

This question belongs to: Economy GK Economy Set 1

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