The 'World Trade Organization' has how many members? MCQ with Answer and Explanation

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The 'World Trade Organization' has how many members?

A. 164

B. 190

C. 200

D. about 120

Answer: Option A

Solution (By JKSSB Mock Tests)

The WTO has 164 members.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'forward market' in foreign exchange deals with:

A. delivery of currencies at a future date at a predetermined rate

B. immediate delivery of currencies

C. only spot transactions

D. only government transactions

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Correct Answer: Option A

Explanation:
The forward market deals with contracts for future delivery of currencies at predetermined rates.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a major difficulty in measuring national income in developing countries?

A. Uniform and comprehensive accounting practices

B. Absence of any informal economic activity

C. Complete availability of reliable data for all activities

D. Presence of a large non-monetised and informal sector

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Correct Answer: Option D

Explanation:
Developing countries face significant measurement challenges due to a large non-monetised sector, widespread informal activities, under-reporting and inadequate statistical systems.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is not a component of the current account of the balance of payments?

A. Foreign direct investment

B. Exports of goods

C. Imports of services

D. Remittances from abroad

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Correct Answer: Option A

Explanation:
Foreign direct investment is a capital account component, not current account.

This question belongs to: Economy GK Economy Set 1

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