The 'Goods and Services Tax' on healthcare and education being exempt is intended to: MCQ with Answer and Explanation

Question

Share Report Error

The 'Goods and Services Tax' on healthcare and education being exempt is intended to:

A. make essential services affordable

B. promote imports

C. increase government revenue

D. increase tax burden

Answer: Option A

Solution (By JKSSB Mock Tests)

Exempting essential services like health and education makes them affordable.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The quantity theory of money is expressed by which equation?

A. S = I

B. Y = C + I

C. MC = MR

D. MV = PT

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
The quantity theory of money is expressed as MV = PT.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on event management services is:

A. 28%

B. 12%

C. 18%

D. 5%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Event management services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of monetary policy frameworks, 'Average Inflation Targeting' involves:

A. Only targeting the price level

B. Ignoring past inflation outcomes completely

C. Targeting an average inflation rate over a multi-year period, allowing temporary overshoots to make up for past undershoots

D. Targeting only the current inflation rate

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Average inflation targeting commits the central bank to achieve an average inflation rate over a longer period, so that periods of below-target inflation are followed by periods of above-target inflation (and vice versa).

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs