Labour productivity is measured as: MCQ with Answer and Explanation

Question
Labour productivity is measured as:
A. output per unit of labour input
B. total population divided by labour force
C. wages divided by profit
D. capital divided by labour
Answer: Option A
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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Practice More Economy Set 1 Questions

Question #1
Selling costs are a distinguishing feature of which market structure?
A. Monopoly
B. Perfect competition
C. Pure competition
D. Monopolistic competition
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Correct Answer: Option D

Explanation:
Firms in monopolistic competition incur selling costs to differentiate their products and attract customers.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'National Statistical Office' in India is responsible for:
A. collection and publication of statistical data including national accounts
B. regulation of stock exchanges
C. currency printing
D. conducting elections
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Correct Answer: Option A

Explanation:
NSO collects and publishes official statistics including national accounts and price indices.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following best describes the concept of 'Cross Elasticity of Demand'?
A. Responsiveness of quantity demanded of a good to a change in the price of another good
B. Responsiveness of quantity demanded to a change in income
C. Responsiveness of supply to a change in price
D. Responsiveness of quantity demanded of a good to a change in its own price
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Correct Answer: Option A

Explanation:
Cross elasticity of demand measures how the quantity demanded of one good responds to a change in the price of another related good. It is positive for substitutes and negative for complements.
This question belongs to: Economy GK Economy Set 1
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