General Knowledge Test with questions about different types of economies for exams like UPSC, SSC, UPPSC, Banking, RPSC, MPSC, KAS, MPPSC, and others.
1. Which of the following goods are directly affected by changes in international crude oil prices?
- Wheat
- Gold
- Edible Oils
- Cotton
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Answer: Option B. Gold
2. Which of the following is considered an Invisible Export?
- Tourism services
- Machinery
- Agricultural products
- Prohibited goods
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Answer: Option A. Tourism services
3. During which WTO ministerial conference did India collaborate with other developing nations like Argentina, Brazil, Indonesia, South Africa, and the Philippines to form a core group on Non-Agricultural Market Access (NAMA)?
- Doha Round
- Cancun Conference
- Nairobi Conference
- Bali Conference
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Answer: Option A. Doha Round
4. What effect will an increase in external commercial borrowings have on India’s external debt?
- It will decrease external debt
- It will have no effect
- It will increase external debt
- It will eliminate external debt
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Answer: Option C. It will increase external debt
5. Which among the following is not related to the World Trade Organization (WTO)?
- Trade agreements
- Exchange Rate Management body
- Tariff negotiations
- Trade facilitation
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Answer: Option B. Exchange Rate Management body