The 'Generalized System of Preferences' allows developed countries to: MCQ with Answer and Explanation

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The 'Generalized System of Preferences' allows developed countries to:

A. impose higher tariffs on developing countries

B. harmonize exchange rates

C. ban imports from developing countries

D. grant preferential tariff treatment to developing countries

Answer: Option D

Solution (By JKSSB Mock Tests)

GSP allows developed countries to grant preferential tariff treatment to developing countries.

This question belongs to: Economy GK Economy Set 1

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Operation Flood is associated with:

A. wheat production

B. poultry development

C. milk production and dairy development

D. fish farming

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Correct Answer: Option C

Explanation:
Operation Flood was a dairy development programme for increasing milk production.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'National Anti-profiteering Authority' under GST was headed by a:

A. Finance Minister

B. Supreme Court judge

C. RBI Governor

D. Secretary-level officer

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Correct Answer: Option D

Explanation:
NAA was headed by a Secretary-level officer.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Wholesale Price Index' measures:

A. prices of services

B. prices at the wholesale level

C. prices of consumer goods only

D. retail prices

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Correct Answer: Option B

Explanation:
WPI measures price changes at the wholesale level.

This question belongs to: Economy GK Economy Set 1

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