The 'life-cycle hypothesis' of consumption was proposed by: MCQ with Answer and Explanation

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The 'life-cycle hypothesis' of consumption was proposed by:

A. Paul Samuelson

B. Franco Modigliani

C. Irving Fisher

D. Milton Friedman

Answer: Option B

Solution (By JKSSB Mock Tests)

The life-cycle hypothesis was developed by Franco Modigliani and others.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on fruit juices is:

A. 12%

B. 28%

C. 5%

D. 18%

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Correct Answer: Option A

Explanation:
Fruit juices attract 12% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on health care services is:

A. 5%

B. 0%

C. 18%

D. exempt

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Correct Answer: Option D

Explanation:
Health care services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on air freight is:

A. 28%

B. 12%

C. 18%

D. 5%

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Correct Answer: Option C

Explanation:
Air freight services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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