The IS curve shows combinations of income and interest rate where: MCQ with Answer and Explanation

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The IS curve shows combinations of income and interest rate where:

A. money market is in equilibrium

B. labour market is in equilibrium

C. foreign exchange market is in equilibrium

D. goods market is in equilibrium

Answer: Option D

Solution (By JKSSB Mock Tests)

The IS curve shows equilibrium in the goods market.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The Goods and Services Tax was introduced through which Constitutional Amendment Act?

A. 100th

B. 102nd

C. 99th

D. 101st

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Correct Answer: Option D

Explanation:
GST was introduced through the 101st Constitutional Amendment Act, 2016.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'National Action Plan on Climate Change' was released in:

A. 2008

B. 2005

C. 2010

D. 2015

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Correct Answer: Option A

Explanation:
The National Action Plan on Climate Change was released in 2008.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' registration threshold for goods suppliers is generally:

A. Rs 1 crore

B. Rs 50 lakh

C. Rs 20 lakh

D. Rs 40 lakh

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Correct Answer: Option D

Explanation:
The GST threshold for goods is Rs 40 lakh (Rs 20 lakh in special category states).

This question belongs to: Economy GK Economy Set 1

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