The 'Goods and Services Tax' on renting of residential property for commercial use is: MCQ with Answer and Explanation

Question

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The 'Goods and Services Tax' on renting of residential property for commercial use is:

A. 0%

B. 5%

C. 12%

D. 18%

Answer: Option D

Solution (By JKSSB Mock Tests)

Renting residential property for commercial use attracts 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'replacement level fertility' is generally considered to be about how many children per woman?

A. 4.0

B. 2.1

C. 1.0

D. 3.0

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Correct Answer: Option B

Explanation:
Replacement level fertility is about 2.1 children per woman.

This question belongs to: Economy GK Economy Set 1

Question #2

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A perfectly inelastic demand curve has an elasticity of:

A. one

B. infinity

C. zero

D. greater than one

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Correct Answer: Option C

Explanation:
With perfectly inelastic demand, quantity demanded does not change as price changes; elasticity is zero.

This question belongs to: Economy GK Economy Set 1

Question #3

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The Energy Crisis in India is often measured in terms of:

A. peak demand deficit and energy deficit

B. forest cover

C. fiscal deficit

D. agricultural output

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Correct Answer: Option A

Explanation:
The power sector deficit is measured by the gap between peak demand and availability.

This question belongs to: Economy GK Economy Set 1

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