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

Question

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

A. 5%

B. 0%

C. 18%

D. 12%

Answer: Option B

Solution (By JKSSB Mock Tests)

Ambulance services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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A payment bank in India can accept demand deposits up to a maximum of:

A. Rs 50,000

B. Rs 1 lakh

C. Rs 5 lakh

D. Rs 2 lakh

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Correct Answer: Option B

Explanation:
Payment banks can accept demand deposits up to Rs 1 lakh per customer.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Covered Interest Parity' condition uses which instrument to eliminate exchange rate risk?

A. stock option

B. currency swap

C. credit default swap

D. forward contract

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Correct Answer: Option D

Explanation:
Covered interest parity involves a forward contract to hedge exchange rate risk.

This question belongs to: Economy GK Economy Set 1

Question #3

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Frictional unemployment is best described as:

A. temporary unemployment during job search or transition

B. unemployment due to seasonal agriculture

C. unemployment due to lack of demand

D. long-term unemployment due to skill mismatch

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Correct Answer: Option A

Explanation:
Frictional unemployment is temporary unemployment during job search or transition.

This question belongs to: Economy GK Economy Set 1

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