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

Question

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The 'Goods and Services Tax' rate on newspapers is:

A. 12%

B. 0%

C. 18%

D. 5%

Answer: Option B

Solution (By JKSSB Mock Tests)

Newspapers are exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'National Mission on Education through Information and Communication Technology' was launched to enhance:

A. banking technology

B. education through ICT

C. defence technology

D. agricultural technology

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Correct Answer: Option B

Explanation:
NMEICT aims to enhance education through ICT.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Bank for International Settlements' headquarters is in:

A. Geneva

B. Zurich

C. London

D. Basel

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Correct Answer: Option D

Explanation:
BIS headquarters is in Basel.

This question belongs to: Economy GK Economy Set 1

Question #3

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In the context of cost analysis, fixed costs in the short run:

A. Vary with the level of output

B. Are zero at zero output

C. Remain constant irrespective of the level of output

D. Are always greater than variable costs

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Correct Answer: Option C

Explanation:
Fixed costs do not change with the level of output in the short run; they must be incurred even if output is zero.

This question belongs to: Economy GK Economy Set 1

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