In the context of labour economics, the 'Matching Function' in search theory relates: MCQ with Answer and Explanation

Question
In the context of labour economics, the 'Matching Function' in search theory relates:
A. Only labour demand to the real wage
B. Only wages to productivity
C. The number of job matches to the stocks of unemployed workers and vacancies
D. Only labour supply to the real wage
Answer: Option C
Solution (By JKSSB Mock Tests)
The matching function in search-and-matching models describes how the flow of new hires depends on the number of unemployed workers and the number of job vacancies.
This question belongs to: Economy GK Economy Set 1
Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1
The 'G20' comprises how many members?
A. 24 countries
B. 20 countries
C. 22 countries
D. 19 countries plus EU
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
G20 comprises 19 countries and the European Union.
This question belongs to: Economy GK Economy Set 1
Question #2
In the theory of international trade, the Heckscher-Ohlin theorem states that a country will export goods that:
A. Use its scarce factors intensively
B. Require the most labour regardless of endowment
C. Use its abundant factors intensively
D. Have the highest absolute advantage
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
According to the Heckscher-Ohlin theorem, a country exports goods that intensively use its relatively abundant factors of production and imports goods that intensively use its scarce factors.
This question belongs to: Economy GK Economy Set 1
Question #3
In the context of measuring economic progress, the 'Genuine Progress Indicator' attempts to:
A. Measure only market production
B. Ignore all non-market activities
C. Adjust GDP by subtracting environmental and social costs and adding non-market benefits
D. Replace GDP with only environmental indicators
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
The Genuine Progress Indicator starts from personal consumption expenditure and then adjusts for factors such as income distribution, environmental degradation, and the value of unpaid work to provide a broader measure of welfare.
This question belongs to: Economy GK Economy Set 1
Explore All Economy Set 1 MCQs
Today's Top Topics
Economy Set 1 2220
Explore Subjects
Accountancy and Statistics 3179 English 15164 Computer 5279 Geography GK 6121 Reasoning 2064
Practice Mix
Which of the following is the primary reason for the high rainfall in the Eastern Ghats?
In Access, which of the following is a valid way to import data from an Excel spreadsheet?
Find the error: 'She has a beautiful hair.'
The shortcut to open the 'Find' dialog in MS Excel is:
The noun 'news' is singular, so we say: