The 'Goods and Services Tax' on housekeeping services is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on housekeeping services is:

A. 18%

B. 12%

C. 28%

D. 5%

Answer: Option A

Solution (By JKSSB Mock Tests)

Housekeeping services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the IS-LM model, the IS curve represents equilibrium in the:

A. Money market

B. Labour market

C. Foreign exchange market

D. Goods market

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Correct Answer: Option D

Explanation:
The IS curve shows combinations of interest rate and income at which the goods market is in equilibrium (Investment = Saving).

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' on goods and services is a tax on:

A. property

B. consumption

C. income

D. wealth

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Correct Answer: Option B

Explanation:
GST is a tax on consumption of goods and services.

This question belongs to: Economy GK Economy Set 1

Question #3

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The value of the SDR is based on a basket of how many currencies?

A. 3

B. 5

C. 4

D. 6

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Correct Answer: Option B

Explanation:
The SDR basket consists of five currencies: US dollar, euro, Chinese yuan, Japanese yen and British pound.

This question belongs to: Economy GK Economy Set 1

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