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. 2017

B. 2013

C. 2018

D. 2019

Answer: Option A

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

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Which of the following is a feature of the 'Impossible Trinity' in open economy macroeconomics?

A. Only fiscal policy is constrained

B. All three objectives are always compatible

C. A country can achieve only two of the three: fixed exchange rate, free capital flows and monetary independence

D. A country can simultaneously maintain a fixed exchange rate, free capital mobility and independent monetary policy

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Correct Answer: Option C

Explanation:
The impossible trinity (or trilemma) states that it is impossible for a country to maintain a fixed exchange rate, free capital mobility and an independent monetary policy at the same time.

This question belongs to: Economy GK Economy Set 1

Question #2

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In the context of banking, SLR stands for:

A. Standard Liquidity Ratio

B. Scheduled Liquidity Ratio

C. Statutory Liquidity Ratio

D. Statutory Lending Ratio

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Correct Answer: Option C

Explanation:
Statutory Liquidity Ratio is the percentage of deposits that commercial banks are required to maintain in the form of liquid assets such as cash, gold or approved securities.

This question belongs to: Economy GK Economy Set 1