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

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The 'Goods and Services Tax' rate on ambulance services is:

A. 0%

B. 18%

C. 5%

D. 12%

Answer: Option A

Solution (By JKSSB Mock Tests)

Ambulance services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'World Happiness Report' is published by:

A. United Nations Sustainable Development Solutions Network

B. World Bank

C. World Economic Forum

D. IMF

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Correct Answer: Option A

Explanation:
The World Happiness Report is published by the UN Sustainable Development Solutions Network.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'National Manufacturing Policy' aims to create how many additional jobs?

A. 500 million

B. 50 million

C. 100 million

D. 200 million

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Correct Answer: Option C

Explanation:
The National Manufacturing Policy aims to create 100 million additional jobs by 2022.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of the short-run production function?

A. Returns to scale are the only relevant concept

B. At least one factor is fixed

C. All factors are variable

D. No diminishing returns possible

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Correct Answer: Option B

Explanation:
In the short run, at least one factor of production is fixed, and the law of variable proportions operates.

This question belongs to: Economy GK Economy Set 1

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