The 'Goods and Services Tax' on wind turbines is: MCQ with Answer and Explanation

The 'Goods and Services Tax' on wind turbines is:
A. 28%
B. 5%
C. 12%
D. 18%
Answer: Option B
Solution (By JKSSB Mock Tests)
Wind turbines attract 5% GST.

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Practice More Economy Set 1 Questions

Question #1
The 'Logistic Performance Index' is published by:
A. IMF
B. UNCTAD
C. WTO
D. World Bank

Correct Answer: Option D


Explanation:
The Logistics Performance Index is published by the World Bank.

This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a characteristic of the 'Permanent Income Hypothesis' of consumption?
A. Consumption depends only on current income
B. Consumption is independent of income
C. Consumption depends primarily on long-run average or permanent income
D. Only transitory income determines consumption

Correct Answer: Option C


Explanation:
According to Milton Friedman's permanent income hypothesis, individuals base their consumption on permanent (expected long-run) income rather than on current measured income.

This question belongs to: Economy GK Economy Set 1
Question #3
The term 'Stagflation' refers to a situation of:
A. Low inflation and low unemployment
B. High inflation and high unemployment
C. Low inflation and high growth
D. High inflation and high growth

Correct Answer: Option B


Explanation:
Stagflation is a combination of stagnant economic growth (or high unemployment) along with high inflation, which challenges conventional policy responses.

This question belongs to: Economy GK Economy Set 1