The 'Goods and Services Tax' on tea leaves is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on tea leaves is:

A. 5%

B. 0%

C. 18%

D. 12%

Answer: Option A

Solution (By JKSSB Mock Tests)

Tea leaves attract 5% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Kyoto Protocol' came into force in which year?

A. 1997

B. 2008

C. 2012

D. 2005

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Correct Answer: Option D

Explanation:
The Kyoto Protocol entered into force in 2005.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Pradhan Mantri Shram Yogi Maandhan' is a pension scheme for unorganized workers with monthly contribution of:

A. Rs 200 to Rs 1,000

B. Rs 50 to Rs 100

C. Rs 100 to Rs 500

D. Rs 55 to Rs 200

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Correct Answer: Option D

Explanation:
PM-SYM contribution ranges from Rs 55 to Rs 200 depending on age.

This question belongs to: Economy GK Economy Set 1

Question #3

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The term 'Capital Formation' refers to:

A. Increase in money supply

B. Increase in population

C. Increase in the stock of capital goods

D. Increase in consumption

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Correct Answer: Option C

Explanation:
Capital formation refers to the net addition to the existing stock of capital goods such as machinery, buildings and equipment in an economy.

This question belongs to: Economy GK Economy Set 1

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