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

Question

Share Report Error

The 'Goods and Services Tax' is a:

A. capital gains tax

B. indirect tax

C. direct tax

D. wealth tax

Answer: Option B

Solution (By JKSSB Mock Tests)

GST is an indirect tax on goods and services.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

Share Report

The 'Evergreen Revolution' concept is associated with:

A. only organic farming

B. increasing fertilizer use

C. reducing crop diversity

D. sustainable agriculture with high productivity

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Evergreen Revolution refers to sustainable agriculture while maintaining high productivity.

This question belongs to: Economy GK Economy Set 1

Question #2

Share Report

Which of the following is a feature of monopolistic competition?

A. Single seller

B. Perfect knowledge and free entry without costs

C. Product differentiation

D. Homogeneous product

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Monopolistic competition is characterised by product differentiation, a large number of firms, free entry and exit, and some degree of price control by firms.

This question belongs to: Economy GK Economy Set 1

Question #3

Share Report

Which of the following is the primary objective of monetary policy in India?

A. Increasing government expenditure

B. Maximising tax revenue

C. Reducing fiscal deficit

D. Price stability while keeping in mind growth

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
As per the Monetary Policy Framework Agreement, the primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs