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

Question

Share Report Error

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

A. 18%

B. 0%

C. 12%

D. 5%

Answer: Option B

Solution (By JKSSB Mock Tests)

Periodicals and journals are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

Share Report

In the context of monetary policy, the Liquidity Adjustment Facility (LAF) is used by RBI to:

A. Determine tax rates

B. Provide long-term loans to industry

C. Fix the fiscal deficit target

D. Manage short-term liquidity in the banking system

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
LAF allows banks to borrow money through repurchase agreements (repo) or park excess funds with RBI (reverse repo) to manage day-to-day liquidity mismatches.

This question belongs to: Economy GK Economy Set 1

Question #2

Share Report

Which of the following is a feature of the classical theory of employment?

A. Possibility of underemployment equilibrium

B. Importance of effective demand

C. Full employment as a normal condition

D. Liquidity trap

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Classical theory assumes that the economy always tends towards full employment through flexible wages and prices. Underemployment equilibrium and liquidity trap are Keynesian concepts.

This question belongs to: Economy GK Economy Set 1