The 'GST compensation cess' is levied on which goods? MCQ with Answer and Explanation

Question

Share Report Error

The 'GST compensation cess' is levied on which goods?

A. essential food items

B. agricultural produce only

C. luxury and sin goods

D. all goods

Answer: Option C

Solution (By JKSSB Mock Tests)

GST compensation cess is levied on luxury and sin goods.

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

The 'Transparency International' publishes which index?

A. Logistics Performance Index

B. Ease of Doing Business Index

C. Corruption Perceptions Index

D. Human Development Index

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Transparency International publishes Corruption Perceptions Index.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Fisher equation' is expressed as:

A. Y = C + I + G

B. i = r + π

C. S = I

D. MV = PT

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
The Fisher equation is i = r + π, where i is nominal interest rate, r is real interest rate and π is inflation.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Narrative Economics' associated with Robert Shiller emphasises:

A. Only the role of monetary policy

B. The role of popular stories and narratives in driving economic fluctuations

C. The complete irrelevance of stories

D. Only the role of fundamental factors

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
Narrative economics studies how contagious popular stories and narratives spread and influence economic behaviour, contributing to booms, recessions and other major economic events.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs