The 'Trade Facilitation Agreement' of WTO entered into force in which year? MCQ with Answer and Explanation

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The 'Trade Facilitation Agreement' of WTO entered into force in which year?

A. 2013

B. 2018

C. 2017

D. 2019

Answer: Option C

Solution (By JKSSB Mock Tests)

The Trade Facilitation Agreement entered into force in 2017.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on interest on deposits and loans is:

A. exempt

B. 18%

C. 12%

D. 0%

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Correct Answer: Option A

Explanation:
Interest on deposits and loans is exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is NOT a function of money?

A. Unit of account

B. Store of value

C. Medium of exchange

D. Means of production

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Correct Answer: Option D

Explanation:
The primary functions of money are medium of exchange, measure of value (unit of account), store of value and standard of deferred payments. Means of production is not a function of money.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Unified Payments Interface' was launched in which year?

A. 2014

B. 2018

C. 2016

D. 2017

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Correct Answer: Option C

Explanation:
UPI was launched in April 2016.

This question belongs to: Economy GK Economy Set 1

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