The 'Asian Infrastructure Investment Bank' headquarters is in: MCQ with Answer and Explanation

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The 'Asian Infrastructure Investment Bank' headquarters is in:

A. Singapore

B. Beijing

C. Tokyo

D. Manila

Answer: Option B

Solution (By JKSSB Mock Tests)

AIIB headquarters is in Beijing.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' on electricity is:

A. 5%

B. not under GST

C. 18%

D. 0%

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Correct Answer: Option B

Explanation:
Electricity is outside GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax Compensation Cess' is levied to compensate states for:

A. loss of import revenue

B. loss of revenue due to GST implementation for a transition period

C. loss due to natural calamities

D. loss due to bank failures

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Correct Answer: Option B

Explanation:
GST Compensation Cess compensates states for revenue loss due to GST implementation for five years.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of elasticity of demand, which of the following goods is likely to have inelastic demand?

A. Air conditioners

B. Luxury cars

C. Salt

D. Jewellery

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Correct Answer: Option C

Explanation:
Necessities like salt have inelastic demand because quantity demanded does not change significantly with price changes. Luxuries tend to have elastic demand.

This question belongs to: Economy GK Economy Set 1

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