The 'World Trade Organization' headquarters is in: MCQ with Answer and Explanation

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The 'World Trade Organization' headquarters is in:

A. Geneva

B. Paris

C. Washington D.C.

D. New York

Answer: Option A

Solution (By JKSSB Mock Tests)

WTO headquarters is in Geneva.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Urjit Patel Committee' recommended which inflation target for India?

A. 4% with a band of +/- 2%

B. 5% fixed

C. 6% with a band of +/- 1%

D. 2%

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Correct Answer: Option A

Explanation:
The Urjit Patel Committee recommended an inflation target of 4% with a +/- 2% band.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a component of revenue expenditure of the government?

A. Expenditure on acquisition of land

B. Interest payments

C. Expenditure on construction of roads

D. Loans to state governments

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Correct Answer: Option B

Explanation:
Revenue expenditure does not create assets or reduce liabilities. Interest payments are a major component of revenue expenditure. Acquisition of land, loans and construction create assets and are capital expenditure.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'seigniorage' revenue for a government arises from:

A. issuing currency

B. tax collection

C. borrowing from abroad

D. selling public assets

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Correct Answer: Option A

Explanation:
Seigniorage is the profit from issuing currency, the difference between face value and production cost.

This question belongs to: Economy GK Economy Set 1

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