The 'GST' has helped in creating a unified national market by: MCQ with Answer and Explanation

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The 'GST' has helped in creating a unified national market by:

A. raising state VAT rates

B. increasing check posts

C. increasing entry taxes

D. removing cascading taxes and multiple state-level barriers

Answer: Option D

Solution (By JKSSB Mock Tests)

GST removed cascading taxes and state barriers, creating a unified market.

This question belongs to: Economy GK Economy Set 1

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Question #1

The concept of 'Hysteresis' in unemployment refers to:

A. The tendency of unemployment to persist even after the original cause has disappeared

B. Temporary unemployment that disappears quickly

C. Only seasonal unemployment

D. Only frictional unemployment

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Correct Answer: Option A

Explanation:
Hysteresis in unemployment means that high unemployment can become self-perpetuating through loss of skills, reduced employability or changes in wage-setting behaviour, so that the natural rate itself rises.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'International Finance Corporation' mainly provides:

A. loans and investments in the private sector of developing countries

B. short-term balance of payments support

C. military assistance

D. grants to governments

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Correct Answer: Option A

Explanation:
IFC supports private sector investment in developing countries.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'African Development Bank' is headquartered in:

A. Abidjan

B. Nairobi

C. Johannesburg

D. Cairo

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Correct Answer: Option A

Explanation:
The African Development Bank is headquartered in Abidjan, Côte d'Ivoire.

This question belongs to: Economy GK Economy Set 1

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