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

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The 'Goods and Services Tax' on security services is:

A. 5%

B. 18%

C. 12%

D. 28%

Answer: Option B

Solution (By JKSSB Mock Tests)

Security services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on franchise services is:

A. 18%

B. 12%

C. 28%

D. 5%

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Correct Answer: Option A

Explanation:
Franchise services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

Marginal revenue product of labour is calculated as:

A. MP of labour multiplied by marginal revenue

B. marginal cost divided by output

C. total product multiplied by wage

D. AP of labour divided by wage

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Correct Answer: Option A

Explanation:
Marginal revenue product of labour equals marginal product of labour multiplied by marginal revenue.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Okun's law' describes a relationship between:

A. output growth and changes in unemployment

B. inflation and unemployment

C. tax rates and revenue

D. interest rates and investment

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Correct Answer: Option A

Explanation:
Okun's law relates changes in unemployment to output growth.

This question belongs to: Economy GK Economy Set 1

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