The 'Goods and Services Tax' on religious pilgrimage tours is: MCQ with Answer and Explanation

The 'Goods and Services Tax' on religious pilgrimage tours is:
A. 18%
B. 12%
C. 0%
D. 5%
Answer: Option D
Solution (By JKSSB Mock Tests)
Religious pilgrimage tours attract 5% GST.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is NOT a type of inflation based on speed?
A. Walking inflation
B. Creeping inflation
C. Demand-pull inflation
D. Galloping inflation

Correct Answer: Option C


Explanation:
Demand-pull inflation is a classification based on cause. Based on speed/intensity, inflation is classified as creeping, walking, running and galloping (or hyperinflation).

This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a characteristic of the 'First-Generation' models of currency crises?
A. Crises result from inconsistent fundamentals, typically persistent fiscal deficits financed by money creation under a fixed exchange rate
B. Crises never involve reserve losses
C. Crises are purely self-fulfilling without any fundamental weakness
D. Only banking-sector problems matter

Correct Answer: Option A


Explanation:
First-generation models (Krugman, Flood-Garber) show that a steadily deteriorating fiscal position financed by credit expansion leads to a speculative attack that exhausts reserves and forces the abandonment of the fixed exchange rate.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'United Nations Office at Geneva' is the second largest UN centre after:
A. New York
B. Vienna
C. Paris
D. Nairobi

Correct Answer: Option A


Explanation:
Geneva is the second largest UN centre after New York.

This question belongs to: Economy GK Economy Set 1