The 'GST Council' does not deal with: MCQ with Answer and Explanation

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The 'GST Council' does not deal with:

A. GST returns

B. GST rates

C. GST exemptions

D. income tax rates

Answer: Option D

Solution (By JKSSB Mock Tests)

Income tax rates are not within GST Council's purview.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'stagflation' is a combination of:

A. low inflation and high unemployment

B. high inflation and high unemployment

C. high inflation and low unemployment

D. low inflation and low unemployment

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Correct Answer: Option B

Explanation:
Stagflation is high inflation combined with high unemployment and stagnant demand.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is the correct sequence of stages in the business cycle?

A. Expansion, Peak, Contraction, Trough

B. Trough, Peak, Expansion, Contraction

C. Peak, Expansion, Trough, Contraction

D. Contraction, Expansion, Peak, Trough

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Correct Answer: Option A

Explanation:
The typical stages of a business cycle are expansion (recovery), peak (boom), contraction (recession) and trough (depression), and then the cycle repeats.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Pradhan Mantri Poshan Shakti Nirman' is a programme for:

A. education loans

B. rural housing

C. hot cooked meals in schools

D. skill development

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Correct Answer: Option C

Explanation:
PM POSHAN provides hot cooked meals in government and aided schools.

This question belongs to: Economy GK Economy Set 1

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