Which of the following is a major objective of the World Trade Organisation? MCQ with Answer and Explanation

Which of the following is a major objective of the World Trade Organisation?
A. Promoting free and fair trade among nations
B. Providing development loans
C. Providing short-term BOP support
D. Maintaining exchange rate stability
Answer: Option A
Solution (By JKSSB Mock Tests)
The WTO aims to promote free and fair international trade by reducing trade barriers, settling disputes and providing a framework for trade negotiations.

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Practice More Economy Set 1 Questions

Question #1
The 'Rs 2000 note' in India was introduced after demonetization in:
A. 2016
B. 2020
C. 2014
D. 2018

Correct Answer: Option A


Explanation:
Rs 2000 note was introduced in November 2016 after demonetization.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'trade facilitation agreement' of the WTO aims to:
A. ban exports
B. increase tariffs
C. simplify and harmonize customs procedures
D. restrict foreign investment

Correct Answer: Option C


Explanation:
The Trade Facilitation Agreement aims to simplify customs procedures and ease trade.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'unbalanced growth theory' was proposed by:
A. John Maynard Keynes
B. Arthur Lewis
C. Paul Rosenstein-Rodan
D. Albert Hirschman

Correct Answer: Option D


Explanation:
Albert Hirschman proposed the theory of unbalanced growth.

This question belongs to: Economy GK Economy Set 1