The 'Goods and Services Tax' excludes which of the following from its purview? MCQ with Answer and Explanation

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The 'Goods and Services Tax' excludes which of the following from its purview?

A. Services

B. Alcoholic liquor for human consumption

C. Imported goods

D. Manufactured goods

Answer: Option B

Solution (By JKSSB Mock Tests)

Alcoholic liquor for human consumption is outside GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'repo' in monetary policy means the RBI:

A. sells securities to banks and agrees to repurchase them later

B. borrows from foreign central banks

C. purchases securities from banks with an agreement to sell them back later

D. gives unsecured loans to banks

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Correct Answer: Option C

Explanation:
In a repo, the RBI purchases securities from banks with an agreement to resell them later, injecting liquidity.

This question belongs to: Economy GK Economy Set 1

Question #2

Structural unemployment arises due to:

A. mismatch between the skills of workers and available jobs

B. agricultural seasonality

C. fluctuations in business cycles

D. temporary job search

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Correct Answer: Option A

Explanation:
Structural unemployment is caused by a mismatch between workers' skills and available jobs.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'worker population ratio' is defined as:

A. unemployed divided by labour force

B. workers divided by population in relevant age group

C. workers divided by total population

D. labour force divided by population

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Correct Answer: Option B

Explanation:
Worker population ratio is workers as a percentage of population in the relevant age group.

This question belongs to: Economy GK Economy Set 1

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