The 'Goods and Services Tax' was launched in India on which date? MCQ with Answer and Explanation

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The 'Goods and Services Tax' was launched in India on which date?

A. 1 January 2017

B. 1 April 2017

C. 1 July 2017

D. 15 August 2017

Answer: Option C

Solution (By JKSSB Mock Tests)

GST was launched on 1 July 2017.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'demonstration effect' in consumption means:

A. people copy the consumption patterns of others

B. people save more

C. people consume only basic goods

D. people reduce consumption

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Correct Answer: Option A

Explanation:
The demonstration effect is the tendency to imitate the consumption patterns of others.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'National Green Tribunal' was established in which year?

A. 2008

B. 2012

C. 2010

D. 2015

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Correct Answer: Option C

Explanation:
The National Green Tribunal was established in 2010.

This question belongs to: Economy GK Economy Set 1

Question #3

Balance of Trade refers to the difference between:

A. exports and imports of goods only

B. exports and imports of goods and services

C. capital inflows and outflows

D. foreign exchange reserves and gold

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Correct Answer: Option A

Explanation:
Balance of Trade is the difference between a country's exports and imports of goods only.

This question belongs to: Economy GK Economy Set 1

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