The 'Goods and Services Tax' on railway freight is: MCQ with Answer and Explanation

Question

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The 'Goods and Services Tax' on railway freight is:

A. 18%

B. 12%

C. 0%

D. 5%

Answer: Option D

Solution (By JKSSB Mock Tests)

Rail freight attracts 5% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Smithsonian Agreement' of 1971 attempted to:

A. ban currency trading

B. realign fixed exchange rates after the collapse of the dollar-gold link

C. create the euro

D. abolish the IMF

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Correct Answer: Option B

Explanation:
The Smithsonian Agreement attempted to establish new fixed exchange rate parities after the dollar-gold link ended.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'monetary transmission mechanism' refers to:

A. the printing of new currency

B. the exchange of old currency notes

C. the transmission of money across banks

D. the process by which monetary policy changes affect output and inflation

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Correct Answer: Option D

Explanation:
Monetary transmission is the process through which policy rate changes affect the real economy.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'National Commission for Scheduled Castes' is constituted under which article?

A. Article 341

B. Article 340

C. Article 342

D. Article 338

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Correct Answer: Option D

Explanation:
The National Commission for Scheduled Castes is constituted under Article 338.

This question belongs to: Economy GK Economy Set 1

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