TRIPS is an agreement of the WTO dealing with: MCQ with Answer and Explanation

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TRIPS is an agreement of the WTO dealing with:

A. agricultural subsidies

B. anti-dumping measures

C. intellectual property rights

D. trade in services

Answer: Option C

Solution (By JKSSB Mock Tests)

TRIPS deals with Trade-Related Aspects of Intellectual Property Rights.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

A quota is a:

A. quantitative restriction on imports or exports

B. tax on exports

C. price support for imports

D. type of exchange rate

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Correct Answer: Option A

Explanation:
A quota is a quantitative restriction on imports or exports.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on services provided by SEBI is:

A. 0%

B. exempt

C. 5%

D. 18%

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Correct Answer: Option B

Explanation:
SEBI services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of the 'Adaptive Expectations' hypothesis?

A. Agents form expectations solely on the basis of past values of the variable

B. Only future information matters

C. Agents use all available information efficiently

D. Expectations are always correct

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Correct Answer: Option A

Explanation:
Under adaptive expectations, agents revise their expectations gradually on the basis of past forecast errors, so that expectations are a weighted average of past observations.

This question belongs to: Economy GK Economy Set 1

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