The corporate tax rate for existing domestic companies that opted for concessional regime under Taxation Laws Amendment Act 2019 is: MCQ with Answer and Explanation

The corporate tax rate for existing domestic companies that opted for concessional regime under Taxation Laws Amendment Act 2019 is:
A. 30%
B. 22%
C. 25%
D. 15%
Answer: Option B
Solution (By JKSSB Mock Tests)
The concessional corporate tax rate for existing domestic companies is 22% plus surcharge and cess.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is most likely to cause a current account deficit to widen?
A. Increase in remittances
B. Increase in exports
C. Fall in imports
D. Rise in crude oil prices

Correct Answer: Option D


Explanation:
Rising crude oil prices increase the import bill, widening the current account deficit.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'Fisher effect' states that nominal interest rates:
A. equal real interest rate divided by inflation
B. are always zero
C. equal real interest rate minus inflation
D. adjust one-for-one with expected inflation

Correct Answer: Option D


Explanation:
The Fisher effect states that nominal interest rates rise with expected inflation.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a feature of 'Nudge' theory in behavioural public policy?
A. Only financial incentives
B. The complete rejection of any behavioural interventions
C. The use of mandates and bans only
D. The use of choice architecture to steer people toward better decisions without restricting their freedom of choice

Correct Answer: Option D


Explanation:
A nudge is any aspect of choice architecture that alters people’s behaviour in a predictable way without forbidding any options or significantly changing economic incentives, as popularised by Thaler and Sunstein.

This question belongs to: Economy GK Economy Set 1