The 'Goods and Services Tax' on admission to amusement parks is: MCQ with Answer and Explanation

The 'Goods and Services Tax' on admission to amusement parks is:
A. 5%
B. 12%
C. 18%
D. 28%
Answer: Option C
Solution (By JKSSB Mock Tests)
Amusement park admissions attract 18% GST.

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Practice More Economy Set 1 Questions

Question #1
The 'Pradhan Mantri Shram Yogi Maandhan' is a pension scheme for unorganized workers with monthly contribution of:
A. Rs 55 to Rs 200
B. Rs 50 to Rs 100
C. Rs 200 to Rs 1,000
D. Rs 100 to Rs 500

Correct Answer: Option A


Explanation:
PM-SYM contribution ranges from Rs 55 to Rs 200 depending on age.

This question belongs to: Economy GK Economy Set 1
Question #2
The concept of 'Liquidity Trap' was introduced by:
A. Milton Friedman
B. David Ricardo
C. Adam Smith
D. John Maynard Keynes

Correct Answer: Option D


Explanation:
Keynes introduced the concept of liquidity trap, a situation where interest rates are so low that people prefer to hold cash rather than invest in bonds, making monetary policy ineffective.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is NOT a measure to promote exports?
A. High import tariffs on export inputs
B. Special Economic Zones
C. Duty drawback schemes
D. Export subsidies

Correct Answer: Option A


Explanation:
High import tariffs on inputs used in export production raise costs and discourage exports. Export promotion measures include subsidies, duty drawbacks and SEZs.

This question belongs to: Economy GK Economy Set 1