The 'Goods and Services Tax' on private coaching centres is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on private coaching centres is:

A. 18%

B. 0%

C. 5%

D. 12%

Answer: Option A

Solution (By JKSSB Mock Tests)

Private coaching centres attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

FERA, replaced by FEMA, was enacted in:

A. 1991

B. 1973

C. 1980

D. 1947

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Correct Answer: Option B

Explanation:
FERA was enacted in 1973 and replaced by FEMA in 1999.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of growth theory, the 'AK Model' is an example of:

A. A model without capital accumulation

B. A model with exogenous technological progress only

C. A neoclassical model with diminishing returns

D. An endogenous growth model without diminishing returns to capital

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Correct Answer: Option D

Explanation:
The AK model assumes a production function linear in capital (Y = AK), thereby eliminating diminishing returns and generating endogenous long-run growth driven by capital accumulation.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Terms of Trade' deterioration for developing countries was emphasised by:

A. David Ricardo

B. Adam Smith

C. Raul Prebisch and Hans Singer

D. Heckscher and Ohlin

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Correct Answer: Option C

Explanation:
The Prebisch-Singer hypothesis argues that the terms of trade of primary commodity exporters (mostly developing countries) tend to deteriorate over time relative to manufactured goods.

This question belongs to: Economy GK Economy Set 1

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