In the context of the future of work, 'Skill-Biased Technical Change' refers to: MCQ with Answer and Explanation

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In the context of the future of work, 'Skill-Biased Technical Change' refers to:

A. Technological progress that raises the relative demand for skilled labour and contributes to wage inequality

B. Technical change that is neutral across skill groups

C. Only the displacement of all labour

D. Technical change that only benefits unskilled labour

Answer: Option A

Solution (By JKSSB Mock Tests)

Skill-biased technical change describes innovations that complement skilled workers more than unskilled workers, increasing the relative demand for and returns to skill and contributing to rising wage inequality.

This question belongs to: Economy GK Economy Set 1

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Which of the following is a characteristic of the 'Liquidity Coverage Ratio' under Basel III?

A. It measures only long-term funding stability

B. It is related only to capital adequacy

C. It applies only to non-bank financial institutions

D. It requires banks to hold sufficient high-quality liquid assets to cover net cash outflows over 30 days

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Correct Answer: Option D

Explanation:
The Liquidity Coverage Ratio (LCR) requires banks to maintain an adequate stock of unencumbered high-quality liquid assets that can be converted into cash to meet liquidity needs for a 30-calendar-day stress scenario.

This question belongs to: Economy GK Economy Set 1