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

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The 'Goods and Services Tax' on wind turbines is:

A. 28%

B. 18%

C. 5%

D. 12%

Answer: Option C

Solution (By JKSSB Mock Tests)

Wind turbines attract 5% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the context of international trade, the 'Stolper-Samuelson Theorem' predicts that:

A. Trade benefits all factors of production equally

B. An increase in the relative price of a good raises the real return to the factor used intensively in its production

C. Factor prices are independent of goods prices

D. Only labour always gains from trade

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Correct Answer: Option B

Explanation:
The Stolper-Samuelson theorem states that a rise in the relative price of a good increases the real return to the factor used intensively in that good and reduces the real return to the other factor.

This question belongs to: Economy GK Economy Set 1

Question #2

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The term 'Primary Deficit' is defined as:

A. Revenue deficit minus interest payments

B. Budget deficit minus interest payments

C. Fiscal deficit minus interest payments

D. Fiscal deficit plus interest payments

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Correct Answer: Option C

Explanation:
Primary deficit = Fiscal deficit − Interest payments. It indicates the borrowing requirement of the government excluding interest payments on previous borrowings.

This question belongs to: Economy GK Economy Set 1