The 'Trade-Related Aspects of Intellectual Property Rights' agreement came into force in which year? MCQ with Answer and Explanation

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The 'Trade-Related Aspects of Intellectual Property Rights' agreement came into force in which year?

A. 1998

B. 1995

C. 2000

D. 1994

Answer: Option B

Solution (By JKSSB Mock Tests)

TRIPS came into force in 1995.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Pension Fund Regulatory and Development Authority' is a:

A. statutory body

B. constitutional body

C. government department

D. private company

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Correct Answer: Option A

Explanation:
PFRDA is a statutory body established under the PFRDA Act, 2013.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'countervailing duty' is imposed to countervail:

A. foreign export subsidies

B. high tariffs

C. currency depreciation

D. dumping

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Correct Answer: Option A

Explanation:
Countervailing duties offset foreign subsidies on exports.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Personal Income' of a country includes:

A. only wages

B. corporate profits retained

C. only indirect taxes

D. transfer payments and factor incomes received by households

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Correct Answer: Option D

Explanation:
Personal income includes all incomes received by households, including transfer payments.

This question belongs to: Economy GK Economy Set 1

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