The 'Goods and Services Tax' refund for exporters is available through: MCQ with Answer and Explanation

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The 'Goods and Services Tax' refund for exporters is available through:

A. income tax return

B. SEBI

C. GST refund mechanism

D. customs only

Answer: Option C

Solution (By JKSSB Mock Tests)

Exporters can claim refunds of accumulated input tax credit under GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'natural rate of unemployment' in monetarist economics is:

A. the unemployment rate consistent with stable inflation

B. only cyclical unemployment

C. the maximum unemployment

D. zero unemployment

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Correct Answer: Option A

Explanation:
The natural rate of unemployment is the rate consistent with stable inflation, including frictional and structural unemployment.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of Indian economy, the term 'Demographic Dividend' can be realised if:

A. The fertility rate rises continuously

B. The old-age population dominates

C. The dependent population increases rapidly

D. The working-age population is productively employed and skilled

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Correct Answer: Option D

Explanation:
Realising the demographic dividend requires that the large working-age population is educated, skilled and productively employed in the economy.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of cost, Marginal Cost is defined as:

A. Total cost divided by output

B. Fixed cost divided by output

C. Variable cost divided by output

D. Change in total cost due to production of one additional unit

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Correct Answer: Option D

Explanation:
Marginal Cost (MC) is the addition to total cost when one more unit of output is produced. MC = ΔTC/ΔQ.

This question belongs to: Economy GK Economy Set 1

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