The 'Goods and Services Tax' rate on education and health care is zero because: MCQ with Answer and Explanation

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The 'Goods and Services Tax' rate on education and health care is zero because:

A. they are considered essential services

B. they are luxury services

C. they are taxed by states

D. they are outside GST

Answer: Option A

Solution (By JKSSB Mock Tests)

Education and health care are essential services and are exempted.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on government services is:

A. always exempt

B. always 18%

C. exempt for certain government services and taxable for others

D. always 28%

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Correct Answer: Option C

Explanation:
Some government services are exempt, others taxable.

This question belongs to: Economy GK Economy Set 1

Question #2

The Harrod-Domar growth model emphasizes the role of:

A. saving and capital-output ratio

B. population growth

C. natural resources

D. technological progress

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Correct Answer: Option A

Explanation:
The Harrod-Domar model emphasises saving rate and capital-output ratio as determinants of growth.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a cause of cost-push inflation?

A. Increase in money supply

B. Increase in wages and raw material costs

C. Increase in government spending

D. Increase in aggregate demand

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Correct Answer: Option B

Explanation:
Cost-push inflation arises when the cost of production increases due to higher wages, raw material prices or other input costs, leading to higher prices.

This question belongs to: Economy GK Economy Set 1

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