General Knowledge MCQs
Topic Notes: General Knowledge
MCQs and preparation resources for competitive exams, covering important concepts, past papers, and detailed explanations.
Plato
- Biography: Ancient Greek philosopher (427–347 BCE), student of Socrates and teacher of Aristotle, founder of the Academy in Athens.
- Important Ideas:
- Theory of Forms
- Philosopher-King
- Ideal State
19091
What does the acronym OECD stand for?
Answer:
Organization for Economic Co-operation and Development
The OECD is an intergovernmental economic organization dedicated to stimulating economic progress and world trade.
19092
The WTO has observer status at which other major international economic forum?
Answer:
The UN General Assembly (as a specialized agency)
The WTO is not a specialized agency of the UN, but it has a cooperative relationship with the UN and maintains observer status at the General Assembly and ECOSOC.
19093
The WTO system encourages the reduction of trade barriers primarily through which method?
Answer:
Multilateral negotiations and binding tariff concessions.
The heart of the system is the reciprocal lowering of trade barriers through negotiations involving all members.
19094
What is the legal status of the agreements that countries have signed under the WTO?
Answer:
Binding legal commitments (covered agreements).
WTO agreements are contracts that guarantee members significant trade rights and obligations.
19095
The **SPS Agreement** (Agreement on the Application of Sanitary and Phytosanitary Measures) allows countries to restrict trade to protect:
Answer:
Human, animal, and plant life or health from risks arising from food, pests, and diseases.
The SPS Agreement sets rules for food safety and animal/plant health standards, ensuring they are scientifically justified and not disguised protectionism.
19096
The WTO's relationship with the IMF and the World Bank is one of:
Answer:
Cooperation, as the three institutions govern global economic policy.
The WTO, IMF, and World Bank form the core institutional triumvirate governing international economic relations.
19097
The WTO **Trade Facilitation Agreement (TFA)** focuses primarily on:
Answer:
Simplifying and streamlining international customs and border procedures.
The TFA aims to cut bureaucracy and reduce 'behind-the-border' costs, making it easier and faster to trade.
19098
The **Trade Policy Review Mechanism (TPRM)** requires WTO members to periodically review their national trade policies. What is the goal of this review?
Answer:
To encourage transparency and understanding of a member's trade policies and practices.
The TPRM is non-confrontational and aims to promote compliance and dialogue.
19099
The WTO’s current negotiating round, launched in 2001 and focused on addressing the needs of developing countries, is known as the:
Answer:
The Doha Development Agenda (DDA)
The DDA remains officially on the table, although progress has been challenging.
19100
The **Agreement on Agriculture** mainly focuses on reducing distortions in world trade caused by which three areas of government support?
Answer:
Market Access, Domestic Support, and Export Subsidies.
These three pillars were the focus of liberalization commitments in the Uruguay Round for agricultural trade.