The 'Amul brand' is owned by: MCQ with Answer and Explanation

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The 'Amul brand' is owned by:

A. Gujarat Cooperative Milk Marketing Federation

B. Nestle

C. NDDB

D. Mother Dairy

Answer: Option A

Solution (By JKSSB Mock Tests)

Amul is owned by the Gujarat Cooperative Milk Marketing Federation.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Goods and Services Tax' rate on ambulance services is:

A. 5%

B. 12%

C. 0%

D. 18%

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Correct Answer: Option C

Explanation:
Ambulance services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a feature of the Keynesian consumption function?

A. Consumption depends only on the rate of interest

B. Consumption is independent of income

C. Average propensity to consume rises with income

D. Consumption is a function of current disposable income

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Correct Answer: Option D

Explanation:
The simple Keynesian consumption function states that current consumption depends primarily on current disposable income, with a positive marginal propensity to consume less than one.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following taxes has NOT been subsumed under GST?

A. Central Excise Duty

B. Basic Customs Duty

C. Service Tax

D. State VAT

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Correct Answer: Option B

Explanation:
Basic Customs Duty has not been subsumed under GST.

This question belongs to: Economy GK Economy Set 1

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