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

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The 'Goods and Services Tax' rate on health care services is:

A. 0%

B. 18%

C. 12%

D. 5%

Answer: Option A

Solution (By JKSSB Mock Tests)

Health care 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 'optimal currency area' theory was developed by:

A. Robert Mundell

B. John Maynard Keynes

C. Milton Friedman

D. Paul Krugman

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Correct Answer: Option A

Explanation:
Robert Mundell developed the theory of optimal currency areas.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Sukanya Samriddhi Yojana' is a savings scheme for:

A. senior citizens

B. farmers

C. unemployed youth

D. girl child

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Correct Answer: Option D

Explanation:
Sukanya Samriddhi Yojana is a savings scheme for the girl child.

This question belongs to: Economy GK Economy Set 1

Question #3

An indifference curve is convex to the origin because of:

A. constant marginal utility

B. diminishing marginal rate of substitution

C. increasing marginal rate of substitution

D. increasing returns to scale

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Correct Answer: Option B

Explanation:
Convexity of indifference curves is due to diminishing marginal rate of substitution.

This question belongs to: Economy GK Economy Set 1

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