The 'Goods and Services Tax' on health insurance for senior citizens is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on health insurance for senior citizens is:

A. 5%

B. 12%

C. 18%

D. 0%

Answer: Option C

Solution (By JKSSB Mock Tests)

Health insurance for senior citizens attracts 18% GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Which of the following is NOT a type of unemployment in developing countries?

A. Disguised unemployment

B. Open unemployment

C. Natural rate of unemployment as a policy target only

D. Seasonal unemployment

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Correct Answer: Option C

Explanation:
Disguised, seasonal and open unemployment are common in developing countries. The natural rate of unemployment is a concept more relevant to developed economies and macroeconomic policy.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'multidimensional poverty index' considers how many equally weighted dimensions?

A. Ten

B. Three

C. Five

D. Two

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Correct Answer: Option B

Explanation:
MPI has three equally weighted dimensions: health, education and standard of living.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'GST Network' is a:

A. statutory body

B. public sector undertaking

C. government department

D. private limited company

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Correct Answer: Option D

Explanation:
GSTN is a Section 8 private limited company.

This question belongs to: Economy GK Economy Set 1

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