A regressive tax is one where: MCQ with Answer and Explanation

Question

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A regressive tax is one where:

A. the tax burden falls more heavily on lower income groups

B. the tax rate rises as income rises

C. there is no tax on income

D. the tax rate is constant

Answer: Option A

Solution (By JKSSB Mock Tests)

A regressive tax takes a larger percentage of income from low-income earners.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Goods and Services Tax' on intellectual property rights services is:

A. 18%

B. 28%

C. 5%

D. 12%

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Correct Answer: Option A

Explanation:
IPR services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'e-invoicing' under GST is mandatory for businesses with turnover above:

A. Rs 10 crore

B. Rs 20 crore

C. Rs 5 crore

D. Rs 1 crore

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Correct Answer: Option C

Explanation:
E-invoicing is mandatory for businesses above a specified turnover threshold, currently Rs 5 crore.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'demographic dividend' can be reaped when:

A. dependency ratio is high

B. working-age population is large and productive

C. elderly population is large

D. birth rate is high

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Correct Answer: Option B

Explanation:
Demographic dividend arises from a large productive working-age population.

This question belongs to: Economy GK Economy Set 1

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