The 'Consumer Price Index - Industrial Workers' is compiled by: MCQ with Answer and Explanation

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The 'Consumer Price Index - Industrial Workers' is compiled by:

A. NITI Aayog

B. RBI

C. CSO

D. Labour Bureau

Answer: Option D

Solution (By JKSSB Mock Tests)

CPI-IW is compiled by the Labour Bureau.

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 hotel rooms with tariff above Rs 7,500 is:

A. 5%

B. 12%

C. 28%

D. 18%

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Correct Answer: Option D

Explanation:
Hotel rooms above Rs 7,500 tariff attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a classification of taxes based on their impact on income distribution?

A. Only direct and indirect

B. Progressive, proportional and regressive

C. Only ad valorem and specific

D. Only central and state

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Correct Answer: Option B

Explanation:
Taxes are classified as progressive (rate rises with income), proportional (constant rate) or regressive (rate falls with income) according to their effect on income distribution.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' on restaurant food is:

A. 12%

B. 5% without ITC

C. 18%

D. 28%

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Correct Answer: Option B

Explanation:
Restaurant services generally attract 5% GST without input tax credit.

This question belongs to: Economy GK Economy Set 1

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