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

The 'Goods and Services Tax' on property management services is:
A. 5%
B. 12%
C. 28%
D. 18%
Answer: Option D
Solution (By JKSSB Mock Tests)
Property management services attract 18% GST.

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Practice More Economy Set 1 Questions

Question #1
In the Keynesian framework, the paradox of thrift states that:
A. Saving always equals investment automatically
B. Thrift is always beneficial for economic growth
C. An increase in saving by all individuals leads to higher aggregate saving and income
D. An increase in saving by all individuals may lead to a fall in aggregate income and saving

Correct Answer: Option D


Explanation:
The paradox of thrift argues that if everyone tries to save more during a recession, aggregate demand falls, leading to lower income and ultimately lower total saving.

This question belongs to: Economy GK Economy Set 1
Question #2
In the context of international reserves, the 'Guidotti-Greenspan Rule' suggests that:
A. Reserves are unnecessary under floating rates
B. Countries should hold reserves at least equal to short-term external debt
C. Reserves should equal total external debt
D. Reserves should equal only three months of imports

Correct Answer: Option B


Explanation:
The Guidotti-Greenspan rule is a rule of thumb recommending that emerging-market countries hold foreign-exchange reserves at least equal to their short-term external debt in order to reduce vulnerability to sudden stops.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'core inflation' measure excludes:
A. imports
B. manufactured goods
C. food and fuel
D. services

Correct Answer: Option C


Explanation:
Core inflation excludes volatile food and fuel prices.

This question belongs to: Economy GK Economy Set 1