The 'GDP at constant prices' in India uses which base year? MCQ with Answer and Explanation

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The 'GDP at constant prices' in India uses which base year?

A. 2019-20

B. 2011-12

C. 2015-16

D. 2004-05

Answer: Option B

Solution (By JKSSB Mock Tests)

India's GDP constant price series currently uses base year 2011-12.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'World Trade Organization' is headquartered in:

A. Washington D.C.

B. New York

C. Geneva

D. Paris

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Correct Answer: Option C

Explanation:
The World Trade Organization is headquartered in Geneva, Switzerland.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on import of services is:

A. 5%

B. not levied

C. 12%

D. levied as IGST under reverse charge

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Correct Answer: Option D

Explanation:
Import of services attracts IGST under reverse charge.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Aadhaar Payment Bridge System' enables:

A. insurance claims

B. direct benefit transfers using Aadhaar number

C. foreign exchange trading

D. stock trading

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Correct Answer: Option B

Explanation:
APBS enables direct benefit transfers using Aadhaar number.

This question belongs to: Economy GK Economy Set 1

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