Which of the following is a feature of the 'Paris Agreement' on climate change?
A. A treaty limited to developed countries only
B. Only a voluntary declaration without any reporting requirements
C. A global framework under which countries submit nationally determined contributions to limit global warming
D. A legally binding set of identical emission targets for all countries
Answer: Option C
Solution (By JKSSB Mock Tests)
The Paris Agreement establishes a framework in which each party submits successive nationally determined contributions (NDCs) outlining its climate actions, with the collective aim of limiting global temperature rise.
Explanation:
Vertical fiscal imbalance arises when the revenue powers and expenditure responsibilities of different tiers of government (Centre and States) are mismatched.
Explanation:
The disposition effect is the empirical regularity that investors are more likely to realise gains than losses, consistent with prospect-theory value functions and the reluctance to admit mistakes.
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