The 'Goods and Services Tax' Council has how many members? MCQ with Answer and Explanation

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The 'Goods and Services Tax' Council has how many members?

A. 50

B. 20

C. 100

D. 33

Answer: Option D

Solution (By JKSSB Mock Tests)

GST Council has 33 members, including the Chairperson.

This question belongs to: Economy GK Economy Set 1

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Question #1

Selling costs are a distinguishing feature of which market structure?

A. Monopolistic competition

B. Perfect competition

C. Monopoly

D. Pure competition

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Correct Answer: Option A

Explanation:
Firms in monopolistic competition incur selling costs to differentiate their products and attract customers.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on two-wheelers is:

A. 28% plus cess

B. 28%

C. 12%

D. 18%

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Correct Answer: Option B

Explanation:
Two-wheelers attract 28% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Consumer Price Index' measures:

A. wholesale prices

B. retail prices paid by consumers

C. prices of imports

D. prices of exports

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Correct Answer: Option B

Explanation:
CPI measures changes in retail prices paid by consumers.

This question belongs to: Economy GK Economy Set 1

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