Frictional unemployment is best described as: MCQ with Answer and Explanation

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Frictional unemployment is best described as:

A. unemployment due to lack of demand

B. temporary unemployment during job search or transition

C. unemployment due to seasonal agriculture

D. long-term unemployment due to skill mismatch

Answer: Option B

Solution (By JKSSB Mock Tests)

Frictional unemployment is temporary unemployment during job search or transition.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Jal Jeevan Mission' aims to provide tap water to rural households by:

A. 2025

B. 2022

C. 2024

D. 2030

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Correct Answer: Option C

Explanation:
Jal Jeevan Mission aims to provide tap water to all rural households by 2024.

This question belongs to: Economy GK Economy Set 1

Question #2

A Gini coefficient value close to one indicates:

A. low inflation

B. perfect inequality

C. high growth

D. perfect equality

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Correct Answer: Option B

Explanation:
A Gini coefficient close to one indicates perfect inequality.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the Indian monetary system?

A. Gold standard

B. Managed floating exchange rate with inflation targeting

C. Complete free floating without RBI role

D. Fixed exchange rate without any intervention

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Correct Answer: Option B

Explanation:
India follows a managed floating exchange rate regime and has adopted a flexible inflation targeting framework for monetary policy.

This question belongs to: Economy GK Economy Set 1

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