The 'Mercosur' is a trading bloc in: MCQ with Answer and Explanation

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The 'Mercosur' is a trading bloc in:

A. Europe

B. Africa

C. South America

D. Asia

Answer: Option C

Solution (By JKSSB Mock Tests)

Mercosur is a South American trading bloc including Argentina, Brazil, Paraguay and Uruguay.

This question belongs to: Economy GK Economy Set 1

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Question #1

The concept of 'Sudden Stop' in international finance refers to:

A. A gradual reduction in capital flows

B. Only a stop in domestic investment

C. Only a stop in trade flows

D. An abrupt reversal of capital inflows into a country

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Correct Answer: Option D

Explanation:
A sudden stop is a large and abrupt reversal of capital inflows, often associated with currency crises, output collapses and balance-sheet problems in emerging markets.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Blue Revolution' in India is associated with:

A. oilseeds production

B. fisheries and aquaculture development

C. poultry farming

D. milk production

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Correct Answer: Option B

Explanation:
The Blue Revolution refers to the development of fisheries and aquaculture.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on cable TV services is:

A. 12%

B. 5%

C. 28%

D. 18%

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Correct Answer: Option D

Explanation:
Cable TV services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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