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

Question

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The 'Goods and Services Tax Network' is a:

A. tax collection department

B. regulatory authority

C. non-government IT company providing GST portal

D. ministry under government

Answer: Option C

Solution (By JKSSB Mock Tests)

GSTN is a non-government, private limited company that provides the IT infrastructure for GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a characteristic of the 'Attention Economy' business models of many digital platforms?

A. They always charge users high monetary prices

B. They only sell physical products

C. They never use advertising

D. They often provide services free of monetary charge and monetise user attention and data through advertising

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Correct Answer: Option D

Explanation:
Many digital platforms operate on a 'free' model in which users pay with their attention and personal data, which are then monetised primarily through targeted advertising.

This question belongs to: Economy GK Economy Set 1

Question #2

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In the context of economic growth, the Solow residual measures:

A. Contribution of technological progress (total factor productivity)

B. Contribution of labour force growth only

C. Contribution of capital accumulation only

D. Contribution of natural resources only

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Correct Answer: Option A

Explanation:
The Solow residual is the portion of output growth that cannot be explained by the growth of capital and labour inputs; it is attributed to technological progress or total factor productivity.

This question belongs to: Economy GK Economy Set 1