The 'Goods and Services Tax' on metro rail travel is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on metro rail travel is:

A. 12%

B. 5%

C. 0%

D. 18%

Answer: Option B

Solution (By JKSSB Mock Tests)

Metro rail travel attracts 5% GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Hyperinflation is characterized by:

A. falling prices

B. extremely rapid and out-of-control rise in prices

C. stable prices

D. slow price rise

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Correct Answer: Option B

Explanation:
Hyperinflation is extremely rapid and uncontrollable price inflation.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'original sin' problem in international finance refers to:

A. currency depreciation

B. inability of emerging economies to borrow abroad in their own currency

C. high domestic debt

D. trade deficits

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Correct Answer: Option B

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

Question #3

In the context of measuring economic progress, the 'Genuine Progress Indicator' attempts to:

A. Ignore all non-market activities

B. Adjust GDP by subtracting environmental and social costs and adding non-market benefits

C. Replace GDP with only environmental indicators

D. Measure only market production

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Correct Answer: Option B

Explanation:
The Genuine Progress Indicator starts from personal consumption expenditure and then adjusts for factors such as income distribution, environmental degradation, and the value of unpaid work to provide a broader measure of welfare.

This question belongs to: Economy GK Economy Set 1

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