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

The 'Goods and Services Tax' on veterinary services is:
A. 5%
B. exempt
C. 18%
D. 0%
Answer: Option B
Solution (By JKSSB Mock Tests)
Veterinary services are exempt from GST.

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Practice More Economy Set 1 Questions

Question #1
The concept of 'Intergenerational Equity' is particularly relevant in the context of:
A. Only private investment decisions
B. Only short-term monetary policy
C. Public debt and fiscal sustainability
D. Only trade policy

Correct Answer: Option C


Explanation:
Intergenerational equity concerns the fairness of distributing the burden of public debt and resource use between present and future generations, important for fiscal sustainability.

This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a characteristic of a developing economy?
A. High rate of capital accumulation
B. Low dependence on foreign trade
C. High productivity in agriculture
D. Dualistic economic structure

Correct Answer: Option D


Explanation:
Developing economies often exhibit dualism — coexistence of a modern industrial sector and a traditional agricultural sector with low productivity.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Kisan Vikas Patra' is a:
A. bank account
B. stock market instrument
C. small savings certificate scheme
D. crop insurance scheme

Correct Answer: Option C


Explanation:
Kisan Vikas Patra is a small savings certificate scheme.

This question belongs to: Economy GK Economy Set 1