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

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The 'Goods and Services Tax' rate on periodicals and journals is:

A. 0%

B. 18%

C. 5%

D. 12%

Answer: Option A

Solution (By JKSSB Mock Tests)

Periodicals and journals 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

If demand for a good is perfectly inelastic, a tax on the good will be borne:

A. entirely by sellers

B. entirely by buyers

C. by the government

D. equally by buyers and sellers

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Correct Answer: Option B

Explanation:
With perfectly inelastic demand, buyers bear the entire tax burden because quantity demanded does not change.

This question belongs to: Economy GK Economy Set 1

Question #2

The Real Effective Exchange Rate differs from NEER because REER:

A. adjusts for relative price or inflation differences

B. is always higher

C. ignores inflation

D. includes only the US dollar

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Correct Answer: Option A

Explanation:
REER is NEER adjusted for relative inflation differences.

This question belongs to: Economy GK Economy Set 1

Question #3

National Population Policy 2000 aims to achieve replacement level fertility by:

A. 2010

B. 2015

C. 2045

D. 2020

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Correct Answer: Option A

Explanation:
The National Population Policy 2000 aimed to achieve replacement level fertility by 2010.

This question belongs to: Economy GK Economy Set 1

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