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

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The 'Goods and Services Tax' on entertainment events is:

A. 28%

B. 18%

C. 5%

D. 12%

Answer: Option B

Solution (By JKSSB Mock Tests)

Entertainment events generally 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 'Consumer Price Index' measures:

A. wholesale prices

B. retail prices paid by consumers

C. prices of exports

D. prices of imports

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Correct Answer: Option B

Explanation:
CPI measures changes in retail prices paid by consumers.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the 'Save More Tomorrow' programme designed by Thaler and Benartzi?

A. A commitment device that allows employees to pre-commit to allocating a portion of future salary increases to retirement savings

B. A mandatory increase in taxes

C. An immediate large increase in current contributions

D. A programme that ignores behavioural biases

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Correct Answer: Option A

Explanation:
Save More Tomorrow is a behavioural intervention that invites employees to commit in advance to increasing their retirement contribution rates whenever they receive pay raises, thereby overcoming present bias and inertia.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Monetary Policy Committee' was constituted under which act?

A. RBI Act, 1934

B. Companies Act, 2013

C. Banking Regulation Act, 1949

D. Negotiable Instruments Act, 1881

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Correct Answer: Option A

Explanation:
The MPC was constituted under the Reserve Bank of India Act, 1934 as amended.

This question belongs to: Economy GK Economy Set 1

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