The 'Safeguard duty' is imposed under WTO rules to: MCQ with Answer and Explanation

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The 'Safeguard duty' is imposed under WTO rules to:

A. tax all exports

B. promote free trade

C. temporarily protect domestic industry from a sudden surge in imports

D. permanently ban imports

Answer: Option C

Solution (By JKSSB Mock Tests)

Safeguard duty is a temporary measure to protect domestic industry from an import surge.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Delhi-Mumbai Industrial Corridor' is being developed with cooperation from:

A. USA

B. France

C. Japan

D. Germany

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Correct Answer: Option C

Explanation:
The Delhi-Mumbai Industrial Corridor is being developed with Japanese cooperation.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Human Capital Formation' includes investment in:

A. machinery

B. financial assets

C. physical infrastructure only

D. education, health and training

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Correct Answer: Option D

Explanation:
Human capital formation involves education, health and training investments.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Digital rupee' is a central bank digital currency that has been launched by RBI in a pilot.

A. Only for banks

B. Only for foreign trade

C. False

D. True

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Correct Answer: Option D

Explanation:
RBI has launched pilot projects for the Digital Rupee, a central bank digital currency.

This question belongs to: Economy GK Economy Set 1

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