Under GST, interstate supply of goods is subject to: MCQ with Answer and Explanation

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Under GST, interstate supply of goods is subject to:

A. UTGST only

B. CGST only

C. SGST only

D. IGST

Answer: Option D

Solution (By JKSSB Mock Tests)

Interstate supply of goods and services is subject to Integrated GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the context of economic development, the 'Big Push' theory is associated with:

A. Complete reliance on market forces

B. Gradualism in investment

C. The need for a minimum quantum of investment to overcome indivisibilities

D. Only agricultural development

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Correct Answer: Option C

Explanation:
The Big Push theory, associated with Rosenstein-Rodan, argues that a large, coordinated investment is required to overcome complementarities and indivisibilities in developing economies.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Pareto optimum' is a situation where:

A. prices are zero

B. total output is maximum

C. no one can be made better off without making someone else worse off

D. everyone has equal income

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Correct Answer: Option C

Explanation:
Pareto optimum is a state where no one can be better off without making someone worse off.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Second Five Year Plan' period was:

A. 1956-1961

B. 1953-1958

C. 1961-1966

D. 1951-1956

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Correct Answer: Option A

Explanation:
The Second Five Year Plan covered 1956-1961.

This question belongs to: Economy GK Economy Set 1

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