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. 12%

B. 5%

C. 28%

D. 18%

Answer: Option B

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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Which of the following is a primary function of money?

A. Standard of deferred payments

B. Store of value

C. Medium of exchange

D. Unit of account

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Correct Answer: Option C

Explanation:
The primary function of money is to act as a medium of exchange.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a characteristic of the 'Risk-Sharing' benefits of international financial integration?

A. Only closed economies can smooth consumption

B. Integration always increases consumption volatility

C. Risk-sharing is irrelevant for welfare

D. Countries can smooth consumption in the face of idiosyncratic shocks by trading claims on future output

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Correct Answer: Option D

Explanation:
International risk-sharing allows countries to diversify away country-specific income shocks by holding foreign assets, thereby reducing the volatility of national consumption relative to national output.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is the correct classification of loans under the Pradhan Mantri Mudra Yojana?

A. Start-up, Growth, Mature

B. Small, Medium, Large

C. Primary, Secondary, Tertiary

D. Shishu, Kishor, Tarun

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Correct Answer: Option D

Explanation:
MUDRA loans are classified as Shishu, Kishor and Tarun.

This question belongs to: Economy GK Economy Set 1

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