The 'Eleventh Five Year Plan' period was: MCQ with Answer and Explanation

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The 'Eleventh Five Year Plan' period was:

A. 2002-2007

B. 2004-2009

C. 2007-2012

D. 2010-2015

Answer: Option C

Solution (By JKSSB Mock Tests)

The Eleventh Five Year Plan covered 2007-2012.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is NOT a type of unemployment in developing countries?

A. Open unemployment

B. Seasonal unemployment

C. Natural rate of unemployment as a policy target only

D. Disguised unemployment

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Correct Answer: Option C

Explanation:
Disguised, seasonal and open unemployment are common in developing countries. The natural rate of unemployment is a concept more relevant to developed economies and macroeconomic policy.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'shadow banking system' refers to:

A. public sector banks

B. non-bank financial intermediaries conducting bank-like activities

C. regular commercial banks

D. foreign banks

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Correct Answer: Option B

Explanation:
Shadow banking includes non-bank financial intermediaries that perform bank-like credit intermediation.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'long-run Phillips curve' is vertical at:

A. the natural rate of unemployment

B. zero inflation

C. maximum inflation

D. full employment with zero unemployment

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Correct Answer: Option A

Explanation:
The long-run Phillips curve is vertical at the natural rate of unemployment.

This question belongs to: Economy GK Economy Set 1

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