The 'World Intellectual Property Organization' is a specialized agency of: MCQ with Answer and Explanation

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The 'World Intellectual Property Organization' is a specialized agency of:

A. IMF

B. United Nations

C. WTO

D. World Bank

Answer: Option B

Solution (By JKSSB Mock Tests)

WIPO is a specialized agency of the United Nations.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'tax incidence' of a tax refers to:

A. the amount of tax collected

B. the tax rate

C. who ultimately bears the economic burden of the tax

D. who legally pays the tax

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Correct Answer: Option C

Explanation:
Tax incidence is the distribution of the economic burden of a tax between buyers and sellers.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on bread is:

A. 5%

B. 12%

C. 0%

D. 18%

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Correct Answer: Option C

Explanation:
Bread is exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of development economics, the 'Lewis Model' focuses on:

A. The role of surplus labour in agriculture and its transfer to industry

B. The importance of balanced growth across all sectors equally

C. Only the role of foreign aid

D. Only technological progress in agriculture

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Correct Answer: Option A

Explanation:
The Lewis dual-economy model emphasises the existence of surplus labour in the traditional agricultural sector that can be transferred to the modern industrial sector at a constant real wage.

This question belongs to: Economy GK Economy Set 1

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