The 'Employees' State Insurance Corporation' provides medical benefit to insured workers from: MCQ with Answer and Explanation

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The 'Employees' State Insurance Corporation' provides medical benefit to insured workers from:

A. after retirement

B. day one of insurable employment for certain benefits

C. after one year

D. first day of employment

Answer: Option B

Solution (By JKSSB Mock Tests)

ESIC medical benefit is available from day one of insurable employment.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the context of labour economics, the 'Matching Function' in search theory relates:

A. The number of job matches to the stocks of unemployed workers and vacancies

B. Only labour supply to the real wage

C. Only labour demand to the real wage

D. Only wages to productivity

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Correct Answer: Option A

Explanation:
The matching function in search-and-matching models describes how the flow of new hires depends on the number of unemployed workers and the number of job vacancies.

This question belongs to: Economy GK Economy Set 1

Question #2

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The term 'Moral Suasion' as a monetary policy tool refers to:

A. Change in the bank rate only

B. Quantitative restriction on credit

C. Legal compulsion on banks

D. Persuasion by the central bank to influence bank behaviour

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Correct Answer: Option D

Explanation:
Moral suasion involves the central bank using persuasion, advice and appeals to influence the lending behaviour of commercial banks without legal compulsion.

This question belongs to: Economy GK Economy Set 1