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

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

A. 12%

B. 18%

C. 28%

D. 5%

Answer: Option B

Solution (By JKSSB Mock Tests)

Logistics services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The concept of 'Multiplier' in Keynesian economics is related to:

A. Change in tax rate and change in revenue

B. Change in interest rate and change in investment

C. Change in money supply and change in prices

D. Change in investment and change in income

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Correct Answer: Option D

Explanation:
The investment multiplier shows how much income increases as a result of an initial increase in investment. Multiplier = 1/(1-MPC).

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is an example of a positive externality?

A. Congestion on roads

B. Noise from a construction site

C. Vaccination by an individual

D. Pollution from a factory

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Correct Answer: Option C

Explanation:
A positive externality confers benefits on third parties. Vaccination protects not only the individual but also reduces the spread of disease to others.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Appropriation Bill' is passed by Parliament to:

A. declare war

B. impose new taxes

C. regulate banks

D. authorize withdrawal of funds from the Consolidated Fund of India

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Correct Answer: Option D

Explanation:
The Appropriation Bill allows the government to withdraw funds from the Consolidated Fund of India.

This question belongs to: Economy GK Economy Set 1

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