The Doha Development Round of WTO negotiations primarily focused on: MCQ with Answer and Explanation

Question
The Doha Development Round of WTO negotiations primarily focused on:
A. concerns of developing countries
B. intellectual property only
C. military alliances
D. exchange rate management
Answer: Option A
Solution (By JKSSB Mock Tests)
The Doha Round focused on development concerns of developing countries.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
In the context of demand, a Giffen good is one for which:
A. Demand is perfectly elastic
B. Demand is independent of price
C. Demand increases as price increases
D. Demand decreases as price increases
Discuss
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Correct Answer: Option C

Explanation:
A Giffen good is an inferior good for which the income effect outweighs the substitution effect, leading to an upward-sloping demand curve (demand rises when price rises).
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a feature of the Quantity Theory of Money in its classical form?
A. Velocity of money is variable and unstable
B. Money supply determines the price level assuming full employment and constant velocity
C. Output is determined by aggregate demand
D. Interest rates determine money demand only
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Correct Answer: Option B

Explanation:
In the classical Quantity Theory (MV = PT), with V and T assumed constant and full employment, changes in money supply (M) lead to proportional changes in the price level (P).
This question belongs to: Economy GK Economy Set 1
Question #3
The 'Cheque Truncation System' processes cheques by:
A. transmitting electronic image of the cheque
B. physically moving cheques to the paying bank
C. converting cheques into cash immediately
D. destroying all cheques
Discuss
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Correct Answer: Option A

Explanation:
CTS processes cheques by transmitting electronic images rather than moving physical cheques.
This question belongs to: Economy GK Economy Set 1
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