Prelims Power Play 18 March 2022

1. Consider the following statements regarding GATT

1. It is an international organisation aimed at reducing trade barriers.
2. It dealt with trade in goods only
3. Article 24 of GATT prohibits any bilateral trade agreements between nations.

Which of the above is /are incorrect?

2. Which of the following reports are compiled and published by the Labour Bureau on quinquennial basis:

1. Employment and Unemployment of the Rural Labour Households
2. Wages and Earnings of the Rural Labour Households
3. Indebtedness among the Rural Labour Households
4. Consumption Expenditure of the Rural Labour Households
5. Annual Survey of Industries

Select the correct answer:

3. Consider the various subsidies boxes under the WTO rules:

1. Minimum support price (MSP) comes under Green box as per WTO provisions.
2. At present there are no limits on spending on blue box subsidies
3. Domestic support exceeding the reduction commitment levels in the amber box is prohibited

Select the correct answer using code below.

4. Consider the following statements regarding International Court of Justice (ICJ):

1. ICJ judges are elected by the United Nations General Assembly by simple majority.
2. All UN member states are automatically parties to the Statute of International Court of Justice (ICJ)ICJ
3. The judgements delivered by the court are final and cannot be appealed.

Which of the following statements is/are correct?

5. Which of the following are not the members of International Criminal Court (ICC) is/are correct?

1. Russia
2. USA
3. China
4. India