The 'Goods and Services Tax' on cable TV services is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on cable TV services is:

A. 18%

B. 12%

C. 28%

D. 5%

Answer: Option A

Solution (By JKSSB Mock Tests)

Cable TV services attract 18% 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 NOT a function of the World Bank?

A. Providing short-term balance of payments support

B. Technical assistance for development

C. Providing long-term loans for development projects

D. Poverty reduction initiatives

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Correct Answer: Option A

Explanation:
Short-term balance of payments support is primarily the function of the IMF. The World Bank focuses on long-term development finance and poverty reduction.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' on instant food mixes is:

A. 28%

B. 18%

C. 5%

D. 12%

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Correct Answer: Option B

Explanation:
Instant food mixes attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

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The concept of 'Marginal Rate of Substitution' is derived from:

A. Cost curves

B. Production possibility frontier

C. Indifference curve analysis

D. Supply curve

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Correct Answer: Option C

Explanation:
The Marginal Rate of Substitution (MRS) is the rate at which a consumer is willing to give up one good for another while remaining on the same indifference curve.

This question belongs to: Economy GK Economy Set 1

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