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

Question

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The 'Goods and Services Tax' on coal is:

A. 18%

B. 12%

C. 5% with input tax credit

D. 5%

Answer: Option D

Solution (By JKSSB Mock Tests)

Coal attracts 5% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Second Five Year Plan' period was:

A. 1951-1956

B. 1956-1961

C. 1953-1958

D. 1961-1966

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Correct Answer: Option B

Explanation:
The Second Five Year Plan covered 1956-1961.

This question belongs to: Economy GK Economy Set 1

Question #2

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In the context of digital platforms, 'Network Effects' imply that:

A. The value of the platform to each user rises with the number of other users

B. Only offline networks matter

C. The value of the platform falls with more users

D. Network size is irrelevant

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Correct Answer: Option A

Explanation:
Network effects (or network externalities) exist when the utility a user derives from a platform increases with the number of other users on the same side or the opposite side of the market.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Integrated Power Development Scheme' focuses on:

A. rural roads

B. LPG distribution

C. strengthening urban power distribution network

D. water supply

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Correct Answer: Option C

Explanation:
IPDS strengthens urban power distribution networks.

This question belongs to: Economy GK Economy Set 1

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