The four labour codes in India consolidate how many existing central labour laws? MCQ with Answer and Explanation

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The four labour codes in India consolidate how many existing central labour laws?

A. 44

B. 100

C. 29

D. 10

Answer: Option C

Solution (By JKSSB Mock Tests)

The four labour codes consolidate 29 central labour laws.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on IT-enabled services is:

A. 18%

B. 12%

C. 28%

D. 5%

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Correct Answer: Option A

Explanation:
IT-enabled services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on services by diplomatic missions is:

A. 5%

B. 0%

C. exempt

D. 18%

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Correct Answer: Option C

Explanation:
Services by diplomatic missions are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of elasticity, if income elasticity of demand for a good is negative, the good is:

A. Normal good

B. Luxury good

C. Inferior good

D. Necessary good

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Correct Answer: Option C

Explanation:
A negative income elasticity of demand indicates that the good is inferior; demand for it falls as income rises.

This question belongs to: Economy GK Economy Set 1

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