The 'Goods and Services Tax' on dance and music performances is: MCQ with Answer and Explanation

The 'Goods and Services Tax' on dance and music performances is:
A. 12%
B. 0%
C. 5%
D. 18%
Answer: Option D
Solution (By JKSSB Mock Tests)
Dance and music performances generally attract 18% GST, with some exemptions.

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Practice More Economy Set 1 Questions

Question #1
In the context of international economics, 'Dumping' refers to:
A. Importing goods without tariffs
B. Selling goods abroad at a higher price
C. Exporting goods with subsidies only
D. Selling goods abroad at a price lower than in the domestic market

Correct Answer: Option D


Explanation:
Dumping is the practice of selling a product in a foreign market at a price lower than the domestic price or below the cost of production, often considered an unfair trade practice.

This question belongs to: Economy GK Economy Set 1
Question #2
The concept of 'Multiplier' in Keynesian economics is larger when:
A. Tax rate is higher
B. Marginal propensity to consume is lower
C. Marginal propensity to consume is higher
D. Marginal propensity to save is higher

Correct Answer: Option C


Explanation:
The investment multiplier = 1/(1−MPC). A higher marginal propensity to consume leads to a larger multiplier effect on income.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a characteristic of the 'Just Transition' framework in climate policy?
A. Only maximising the speed of decarbonisation regardless of social costs
B. Ensuring that the shift to a low-carbon economy is fair and inclusive, protecting workers and communities dependent on carbon-intensive industries
C. Only focusing on technological solutions without social considerations
D. Ignoring the social consequences of climate policies

Correct Answer: Option B


Explanation:
A just transition seeks to ensure that the benefits and costs of the transition to a low-carbon economy are shared equitably and that workers and communities affected by the decline of carbon-intensive sectors receive adequate support.

This question belongs to: Economy GK Economy Set 1