The 'Goods and Services Tax' on services provided by PFRDA is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on services provided by PFRDA is:

A. 18%

B. exempt

C. 5%

D. 0%

Answer: Option B

Solution (By JKSSB Mock Tests)

PFRDA services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is NOT a determinant of the supply of a commodity?

A. Price of the commodity

B. Technology

C. Tastes and preferences of consumers

D. Cost of production

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Correct Answer: Option C

Explanation:
Tastes and preferences of consumers affect demand, not supply. Supply is determined by price, cost of production, technology, prices of related goods, and government policies.

This question belongs to: Economy GK Economy Set 1

Question #2

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Cyclical unemployment is caused by:

A. trade union pressure

B. seasonal changes

C. lack of aggregate demand during economic downturns

D. mismatch of skills

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Correct Answer: Option C

Explanation:
Cyclical unemployment is caused by deficient aggregate demand during recessions.

This question belongs to: Economy GK Economy Set 1

Question #3

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Deficit financing means:

A. reducing government expenditure

B. repayment of public debt

C. financing government expenditure through borrowing or money creation

D. financing government expenditure through taxation

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Correct Answer: Option C

Explanation:
Deficit financing involves financing a budget deficit through borrowing or creation of money.

This question belongs to: Economy GK Economy Set 1

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