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

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The 'Agreement on Agriculture' under WTO covers:

A. industrial subsidies

B. banking regulation

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

D. intellectual property

Answer: Option C

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

The 'World Economic Forum' publishes which index?

A. Corruption Perceptions Index

B. Global Competitiveness Index

C. Human Development Index

D. Logistics Performance Index

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Correct Answer: Option B

Explanation:
WEF publishes Global Competitiveness Index.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'C2 cost' in agriculture includes A2 plus family labour plus:

A. only pesticide cost

B. interest on land and fixed capital

C. only seed cost

D. only fertilizer cost

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Correct Answer: Option B

Explanation:
C2 cost includes A2 plus family labour plus interest on land and fixed capital.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Monetary Base' or 'High-Powered Money' consists of:

A. Only government securities

B. Currency with public and reserves of banks with RBI

C. Only time deposits

D. Only demand deposits

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Correct Answer: Option B

Explanation:
High-powered money (monetary base) consists of currency held by the public and the reserves (cash and deposits) of commercial banks with the central bank.

This question belongs to: Economy GK Economy Set 1

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