The 'GST' is a destination-based tax, so tax revenue accrues to: MCQ with Answer and Explanation

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The 'GST' is a destination-based tax, so tax revenue accrues to:

A. producing state

B. consuming state

C. exporting state

D. centre only

Answer: Option B

Solution (By JKSSB Mock Tests)

GST is destination-based; tax revenue goes to the state where goods are consumed.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The concept of 'Fiscal Dominance' refers to:

A. The absence of any deficit

B. A situation in which fiscal policy constraints force the monetary authority to monetise deficits

C. Complete independence of the central bank

D. Only the dominance of monetary policy

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Correct Answer: Option B

Explanation:
Fiscal dominance occurs when the fiscal authority’s need to finance deficits constrains or dictates the behaviour of the monetary authority, often leading to inflationary monetisation.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Blue Revolution' in India is associated with:

A. poultry farming

B. oilseeds production

C. milk production

D. fisheries and aquaculture development

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Correct Answer: Option D

Explanation:
The Blue Revolution refers to the development of fisheries and aquaculture.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'trickle-down theory' of development suggests that benefits of growth:

A. eventually spread to the poor

B. remain only with the rich

C. are absent

D. only benefit the government

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Correct Answer: Option A

Explanation:
Trickle-down theory suggests that growth benefits eventually reach the poor.

This question belongs to: Economy GK Economy Set 1

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