The 'Coffee Board of India' promotes: MCQ with Answer and Explanation

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The 'Coffee Board of India' promotes:

A. coffee production and exports

B. sugar exports

C. spice exports

D. tea exports

Answer: Option A

Solution (By JKSSB Mock Tests)

Coffee Board promotes coffee production and exports.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The term 'Open Market Operations' refer to:

A. Buying and selling of goods in the open market by the government

B. Lending by commercial banks to the public

C. Issuing new shares by companies

D. Buying and selling of government securities by the central bank

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Correct Answer: Option D

Explanation:
Open Market Operations involve the purchase and sale of government securities by the central bank to regulate liquidity and money supply in the economy.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on jewellery is:

A. 18%

B. 3%

C. 12%

D. 5%

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Correct Answer: Option B

Explanation:
Gold, silver and jewellery attract 3% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Input Tax Credit' under GST allows a taxpayer to:

A. pay tax only on exports

B. deduct tax paid on inputs from output tax liability

C. refund all taxes paid

D. avoid filing returns

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Correct Answer: Option B

Explanation:
Input Tax Credit permits deduction of input tax from output tax liability to avoid cascading.

This question belongs to: Economy GK Economy Set 1

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