The 'Goods and Services Tax' on hotel accommodation above Rs 7,500 is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on hotel accommodation above Rs 7,500 is:

A. 28%

B. 5%

C. 12%

D. 18%

Answer: Option D

Solution (By JKSSB Mock Tests)

Hotel rooms above Rs 7,500 attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

The term 'Quantitative Easing' refers to:

A. Large-scale purchase of assets by the central bank to inject liquidity

B. Increase in CRR

C. Reduction in government expenditure

D. Increase in policy interest rates

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Correct Answer: Option A

Explanation:
Quantitative easing is an unconventional monetary policy tool whereby a central bank purchases large quantities of financial assets to inject liquidity into the economy when interest rates are already near zero.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Forest Conservation Act' was enacted in which year?

A. 1980

B. 1972

C. 2002

D. 1986

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Correct Answer: Option A

Explanation:
The Forest Conservation Act was enacted in 1980.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Human Capital Formation' includes investment in:

A. education, health and training

B. financial assets

C. physical infrastructure only

D. machinery

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Correct Answer: Option A

Explanation:
Human capital formation involves education, health and training investments.

This question belongs to: Economy GK Economy Set 1

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