The 'Goods and Services Tax' on IT-enabled services is: MCQ with Answer and Explanation

Question
The 'Goods and Services Tax' on IT-enabled services is:
A. 5%
B. 28%
C. 18%
D. 12%
Answer: Option C
Solution (By JKSSB Mock Tests)
IT-enabled services attract 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 a characteristic of the 'Natural Rate Hypothesis'?
A. Only adaptive expectations are assumed
B. In the long run, unemployment returns to its natural rate regardless of the inflation rate
C. There is a permanent trade-off between inflation and unemployment
D. Monetary policy can permanently reduce unemployment below the natural rate
Discuss
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Correct Answer: Option B

Explanation:
The natural rate hypothesis, associated with Friedman and Phelps, states that in the long run the economy returns to the natural rate of unemployment and there is no permanent trade-off with inflation.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'Agriculture Marketing' in India is primarily regulated by:
A. NABARD
B. State Agricultural Produce Marketing Committee Acts
C. SEBI
D. RBI
Discuss
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Correct Answer: Option B

Explanation:
Agricultural marketing is regulated by State APMC Acts.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'original sin' problem in international finance refers to:
A. inability of emerging economies to borrow abroad in their own currency
B. currency depreciation
C. high domestic debt
D. trade deficits
Discuss
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Correct Answer: Option A

Explanation:
Original sin is the inability of emerging economies to borrow abroad in their own domestic currency.
This question belongs to: Economy GK Economy Set 1
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