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
11
The 'MiCA' (Markets in Crypto-Assets) regulation, fully effective in 2024-2025, applies to which jurisdiction?
Answer:
European Union
MiCA is the European Union's comprehensive legal framework for crypto-assets, the first of its kind in a major jurisdiction.
12
Which country faced a 'technical recession' in late 2023/early 2024 but recovered slightly in 2025?
Answer:
United Kingdom
The UK entered a shallow technical recession (two quarters of negative growth) at the end of 2023 but returned to modest growth in 2024-2025.
13
The 'RCEP' trade bloc, which eliminated further tariffs in 2025, includes China and which key US ally?
Answer:
Japan
RCEP (Regional Comprehensive Economic Partnership) includes China, Japan, South Korea, Australia, New Zealand, and ASEAN nations.
14
Which Latin American country is developing a massive offshore oil boom that significantly boosted its GDP in 2024-2025?
Answer:
Guyana
Guyana has experienced the world's fastest GDP growth rates in recent years due to massive new offshore oil discoveries.
15
The 'Basel III endgame' refers to upcoming banking regulations that will:
Answer:
Increase capital requirements for large banks
The Basel III endgame (or Basel IV) involves stricter rules requiring large banks to hold more capital to protect against financial shocks.
16
Which country became the world's largest exporter of automobiles in 2024, overtaking Japan?
Answer:
China
Driven by a massive surge in Electric Vehicle (EV) exports, China overtook Japan to become the world's largest car exporter.
17
What significant currency trend occurred in 2024-2025 regarding the US Dollar?
Answer:
It remained strong due to high US interest rates
The US Dollar remained strong against other currencies because the Federal Reserve kept interest rates higher for longer than other central banks.
18
The 'Chips Act' in both the US and EU aims to reduce reliance on which region for semiconductor manufacturing?
Answer:
East Asia (specifically Taiwan and China)
Both acts incentivize domestic chip production to reduce supply chain vulnerability and reliance on East Asian manufacturing hubs.
19
Which commodity price surged in 2024-2025 due to booming demand from data centers and the AI industry?
Answer:
Copper
Copper prices rose significantly as it is essential for the power grids and infrastructure needed to support energy-hungry AI data centers.
20
The 'Global South' became a permanent member of the G20 in 2024 represented by which organization?
Answer:
African Union (AU)
The African Union was admitted as a permanent member of the G20, giving the continent the same status as the European Union within the bloc.