Labour productivity is measured as: MCQ with Answer and Explanation

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Labour productivity is measured as:

A. capital divided by labour

B. total population divided by labour force

C. wages divided by profit

D. output per unit of labour input

Answer: Option D

Solution (By JKSSB Mock Tests)

Labour productivity is output per unit of labour input.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Second Five Year Plan' period was:

A. 1951-1956

B. 1953-1958

C. 1956-1961

D. 1961-1966

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Correct Answer: Option C

Explanation:
The Second Five Year Plan covered 1956-1961.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Atal Pension Yojana' is primarily targeted at:

A. children

B. unorganized sector workers

C. government employees only

D. organized sector employees only

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Correct Answer: Option B

Explanation:
Atal Pension Yojana provides pension to workers in the unorganized sector.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the 'Modern Monetary Theory' (MMT) perspective?

A. Monetary financing is always inflationary regardless of capacity utilisation

B. A sovereign currency issuer faces no purely financial constraint on its spending and the main limit is inflation

C. Governments are always financially constrained like households

D. Only balanced budgets are sustainable

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Correct Answer: Option B

Explanation:
Modern Monetary Theory argues that a government that issues its own fiat currency cannot be forced into involuntary default and that the relevant constraint on spending is the availability of real resources and the risk of inflation.

This question belongs to: Economy GK Economy Set 1

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