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

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Frictional unemployment is best described as:

A. temporary unemployment during job search or transition

B. unemployment due to lack of demand

C. unemployment due to seasonal agriculture

D. long-term unemployment due to skill mismatch

Answer: Option A

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

In the context of public expenditure, 'Capital Expenditure' is characterised by:

A. No creation of assets

B. Only payment of interest

C. Creation of assets or reduction of liabilities

D. Only payment of salaries

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Correct Answer: Option C

Explanation:
Capital expenditure leads to the creation of assets (such as infrastructure) or reduction of liabilities (such as repayment of loans).

This question belongs to: Economy GK Economy Set 1

Question #2

A deflationary gap exists when:

A. aggregate demand exceeds full employment output

B. aggregate demand is less than full employment output

C. the economy is above full employment

D. prices rise rapidly

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Correct Answer: Option B

Explanation:
A deflationary gap occurs when aggregate demand is below the level needed for full employment output.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'e-Way Bill' is generated on the GST portal for movement of goods whose consignment value exceeds:

A. Rs 5 lakh

B. Rs 25,000

C. Rs 50,000

D. Rs 1 lakh

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Correct Answer: Option C

Explanation:
E-way bill is required for goods movement valued above Rs 50,000.

This question belongs to: Economy GK Economy Set 1

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