The 'Bali Package' of WTO was adopted in which year? MCQ with Answer and Explanation

Question
The 'Bali Package' of WTO was adopted in which year?
A. 2015
B. 2017
C. 2013
D. 2011
Answer: Option C
Solution (By JKSSB Mock Tests)
The Bali Package was adopted in 2013.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
The concept of 'Natural Monopoly' arises when:
A. Many firms can produce at the same minimum cost
B. There are no economies of scale
C. The market is perfectly competitive
D. A single firm can supply the entire market at lower cost than two or more firms because of large fixed costs and declining average costs
Discuss
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Correct Answer: Option D

Explanation:
A natural monopoly exists when subadditive costs (typically due to large fixed costs and declining average costs) make it more efficient for a single firm to serve the entire market.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a characteristic of 'Remote Work' or 'Telework' as a structural shift?
A. Only the increase in commuting
B. Only a temporary pandemic phenomenon without lasting effects
C. The potential to decouple the location of work from the location of the worker, with implications for cities, housing and labour markets
D. The complete disappearance of all office work
Discuss
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Correct Answer: Option C

Explanation:
The expansion of remote work enabled by digital technologies allows many jobs to be performed outside traditional offices, with potentially far-reaching consequences for urban form, housing demand, regional development and work organisation.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'e-Way Bill' is generated on the GST portal for movement of goods whose consignment value exceeds:
A. Rs 50,000
B. Rs 25,000
C. Rs 1 lakh
D. Rs 5 lakh
Discuss
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Correct Answer: Option A

Explanation:
E-way bill is required for goods movement valued above Rs 50,000.
This question belongs to: Economy GK Economy Set 1
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Select the antonym of 'KNOTTY'.
A man buys a book for Rs. 150 and sells it for Rs. 180. What is the gain percent?