The 'Goods and Services Tax' on charitable activities is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on charitable activities is:

A. exempt for specified charitable activities

B. 0%

C. 18%

D. 5%

Answer: Option A

Solution (By JKSSB Mock Tests)

Specified charitable activities are exempt from 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 feature of the 'Modern Portfolio Theory' developed by Markowitz?

A. Investors can reduce risk by diversifying across assets whose returns are not perfectly correlated

B. Risk is independent of portfolio composition

C. Diversification never reduces risk

D. Only the return of individual assets matters

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Correct Answer: Option A

Explanation:
Markowitz’s modern portfolio theory shows that the risk of a portfolio depends on the covariances among asset returns; diversification can therefore lower portfolio variance for a given expected return.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Smithsonian Agreement' of 1971 attempted to:

A. ban currency trading

B. abolish the IMF

C. realign fixed exchange rates after the collapse of the dollar-gold link

D. create the euro

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Correct Answer: Option C

Explanation:
The Smithsonian Agreement attempted to establish new fixed exchange rate parities after the dollar-gold link ended.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a measure to control inflation?

A. Increase in government expenditure

B. Reduction in bank rate

C. Increase in CRR and SLR

D. Reduction in taxes during high inflation

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Correct Answer: Option C

Explanation:
Raising CRR and SLR reduces the lending capacity of banks, thereby contracting money supply and helping to control inflation.

This question belongs to: Economy GK Economy Set 1

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