The 'Goods and Services Tax' rate on cinema tickets above Rs 100 is: MCQ with Answer and Explanation

The 'Goods and Services Tax' rate on cinema tickets above Rs 100 is:
A. 28%
B. 18%
C. 5%
D. 12%
Answer: Option B
Solution (By JKSSB Mock Tests)
Cinema tickets above Rs 100 attract 18% GST.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is a feature of the 'Purchasing Power Parity' theory in its absolute form?
A. The exchange rate equals the interest differential
B. The exchange rate between two currencies equals the ratio of the countries’ price levels
C. Only relative changes in prices matter
D. Exchange rates are determined only by trade balances

Correct Answer: Option B


Explanation:
Absolute purchasing power parity states that the nominal exchange rate should equal the ratio of the domestic to the foreign price level so that a basket of goods costs the same in both countries.

This question belongs to: Economy GK Economy Set 1
Question #2
The purchasing power parity exchange rate between two currencies is the rate that:
A. equalizes trade balances
B. maximizes exports
C. equalizes the prices of a basket of goods across countries
D. equalizes interest rates

Correct Answer: Option C


Explanation:
The PPP exchange rate equalizes the price of a common basket of goods across countries.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a characteristic of the 'Attention Economy'?
A. Human attention is treated as a scarce resource that platforms and content providers compete to capture
B. Only physical goods matter
C. Attention is unlimited and has no economic value
D. Only traditional advertising without digital platforms

Correct Answer: Option A


Explanation:
In the attention economy, the limited cognitive resource of human attention is the scarce factor that digital platforms, media and advertisers compete to attract and monetise.

This question belongs to: Economy GK Economy Set 1