Consider the following statements:
1. Fiat money has no intrinsic value, while the legal tender is any currency declared legal by a government.
2. Government can issue fiat currency and make it legal tender by setting it as the standard for debt repayment.
Which of the statements given above is/are correct?
Which one of the following items was responsible for most of the increase in international liquidity since World War-II?
(1) Gold
(2) Dollars
(3) Other Convertible Currencies
(4) SDRs
Select the correct answer using the options given below:
Which of the following have been recognized under the intellectual property eligible for creation of rights as per WTO mandate?
(1) Computer software, music disc, performing art
(2) Geographical indicator
(3) Global positioning system
(4) Journals, books, seeds, design, brand
Possible impact of WTO on various aspects of the Indian economy:
(i) Quantitative restriction will be allowed
(ii) Second hand cars will be imported
(iii) There will be dumping of Chinese goods
(iv) Increase in population
(v) Child labour exploitation
(vi) Unemployment will increase
Which combination is appropriate?
Consider the following statements. Assertion (A): Amended Patent Act, in compliance with WTO, provides for grant of product patent as well as a process patent for a period of 20 years from the date of application. Reason (R): Under the Act, patent may be granted to an invention which means a new product or process involving an inventive step and capable of industrial application, a technical advance over existing knowledge.
Which among the following are important bodies of WTO?
(i) Dispute Settlement Body
(ii) NAFTA
(iii) Trade Policy Review Body
(iv) ASEAN
(v) Council for Trade in Goods
(vi) IBRD
(vii) Council for Trade related aspects of Intellectual Property Rights
(viii) GATT
An appropriate combination is