The 'dependency ratio' is higher when: MCQ with Answer and Explanation

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The 'dependency ratio' is higher when:

A. dependent population is large relative to working-age population

B. working-age population is large

C. birth rate is low

D. death rate is high

Answer: Option A

Solution (By JKSSB Mock Tests)

Dependency ratio rises with a larger dependent population relative to working-age population.

This question belongs to: Economy GK Economy Set 1

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Question #1

The concept of 'Data as a Factor of Production' suggests that:

A. Only traditional factors matter

B. Data is only a consumption good

C. Data has no productive value

D. Data has become a key input in production processes alongside labour, capital and land

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Correct Answer: Option D

Explanation:
In the digital economy, data is increasingly recognised as a critical factor of production that enables personalisation, prediction, optimisation and the creation of new products and services.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of international trade, 'Terms of Trade' refer to:

A. Ratio of export prices to import prices

B. Volume of exports to volume of imports

C. Value of exports to value of imports

D. Ratio of import prices to export prices

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Correct Answer: Option A

Explanation:
Terms of Trade (TOT) is the ratio of a country's export prices to its import prices, usually expressed as an index.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' was implemented in India from which date?

A. 1 July 2017

B. 1 April 2016

C. 1 January 2017

D. 1 April 2017

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Correct Answer: Option A

Explanation:
GST was implemented on 1 July 2017.

This question belongs to: Economy GK Economy Set 1

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