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

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The 'Goods and Services Tax' on cloud services is:

A. 18%

B. 12%

C. 28%

D. 5%

Answer: Option A

Solution (By JKSSB Mock Tests)

Cloud services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Sixth Five Year Plan' period was:

A. 1978-1983

B. 1980-1985

C. 1975-1980

D. 1985-1990

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Correct Answer: Option B

Explanation:
The Sixth Five Year Plan covered 1980-1985.

This question belongs to: Economy GK Economy Set 1

Question #2

External benchmark linked lending rates require banks to link retail and MSME loans to:

A. fixed deposit rate

B. external benchmarks such as repo rate or Treasury bill yield

C. base rate only

D. MCLR only

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Correct Answer: Option B

Explanation:
Banks link retail and MSME loans to external benchmarks such as the repo rate or Treasury bill yields.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Fiscal Multiplier' measures:

A. The change in output resulting from a unit change in government spending or taxes

B. Only the change in interest rates

C. Only the change in the exchange rate

D. Only the change in the money supply

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Correct Answer: Option A

Explanation:
The fiscal multiplier is the ratio of the change in real GDP to an exogenous change in the fiscal instrument (government purchases or taxes).

This question belongs to: Economy GK Economy Set 1

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