Category: 2. TGT (Arts) HP

In GST, a supply taxed at 0% with input tax credit allowed is called A Exempt supply B Zero-rated supply

Under GST structure in India, the tax collected by the Centre on intra-state supply is called A SGST only B

GST is described as a “destination-based” tax because tax revenue mainly goes to the state where the good/service is finally

In a two-country, two-good model, comparative advantage is determined mainly by A Absolute labor hours B Export tax rates C

In comparative advantage, the key comparison is between countries’ A Money supply sizes B Population growth rates C Tax collection

A country has comparative advantage in a good when its opportunity cost of producing it is A Lower than others

When a country can produce a good at a lower opportunity cost than others, it has A A. Export subsidy

Which idea explains trade when one country is better in producing a good using fewer resources A Terms of trade

If output rises but most poor households see little improvement in schooling, health, and earnings, the situation best indicates A

In Indian planning, “allocation” mainly refers to deciding A Daily market prices B Court case timelines C Currency note design