The 'Goods and Services Tax' on ready-to-move-in property is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on ready-to-move-in property is:

A. 5%

B. 18%

C. not applicable

D. 12%

Answer: Option C

Solution (By JKSSB Mock Tests)

Ready-to-move-in property is not subject to GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

The natural rate of unemployment includes:

A. only open unemployment

B. only disguised unemployment

C. cyclical and seasonal unemployment

D. frictional and structural unemployment

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Correct Answer: Option D

Explanation:
The natural rate of unemployment consists of frictional and structural unemployment.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is NOT a feature of the Keynesian theory?

A. Possibility of underemployment equilibrium

B. Importance of government intervention

C. Wage-price flexibility ensuring full employment

D. Emphasis on effective demand

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Correct Answer: Option C

Explanation:
Keynes rejected the classical assumption of wage-price flexibility leading to automatic full employment. He argued that underemployment equilibrium is possible.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Economic Community of West African States' promotes economic integration in:

A. Europe

B. West Africa

C. South America

D. Asia

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Correct Answer: Option B

Explanation:
ECOWAS promotes economic integration in West Africa.

This question belongs to: Economy GK Economy Set 1

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