The 'Goods and Services Tax Identification Number' is a: MCQ with Answer and Explanation

The 'Goods and Services Tax Identification Number' is a:
A. 15-digit number
B. 16-digit number
C. 12-digit number
D. 10-digit number
Answer: Option A
Solution (By JKSSB Mock Tests)
GSTIN is a 15-digit PAN-based number.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is used to measure the degree of openness of an economy?
A. Money supply growth rate
B. Share of exports and imports in GDP
C. Unemployment rate
D. Fiscal deficit as a percentage of GDP

Correct Answer: Option B


Explanation:
The degree of openness is commonly measured by the ratio of total trade (exports + imports) to GDP, reflecting integration with the global economy.

This question belongs to: Economy GK Economy Set 1
Question #2
In the context of competition policy for digital markets, 'Killer Acquisitions' refer to:
A. Acquisitions of innovative start-ups by dominant incumbents with the aim of discontinuing the target’s innovation to protect the incumbent’s market position
B. Only conglomerate mergers without any competitive effect
C. Only horizontal mergers among equals
D. Acquisitions that always increase innovation

Correct Answer: Option A


Explanation:
Killer acquisitions occur when a dominant firm acquires a potential competitor primarily to eliminate the competitive threat posed by the target’s product or technology rather than to develop it.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Impossible Trinity' in international economics is also called:
A. the fiscal trilemma
B. the development trilemma
C. the trade trilemma
D. the monetary policy trilemma

Correct Answer: Option D


Explanation:
The Impossible Trinity is also known as the monetary policy trilemma.

This question belongs to: Economy GK Economy Set 1