The 'Human Capital Formation' includes investment in: MCQ with Answer and Explanation

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The 'Human Capital Formation' includes investment in:

A. education, health and training

B. physical infrastructure only

C. financial assets

D. machinery

Answer: Option A

Solution (By JKSSB Mock Tests)

Human capital formation involves education, health and training investments.

This question belongs to: Economy GK Economy Set 1

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Question #1

Tax revenue of the central government is classified under:

A. capital receipts

B. borrowings

C. revenue receipts

D. non-tax revenue

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Correct Answer: Option C

Explanation:
Tax revenue is a revenue receipt.

This question belongs to: Economy GK Economy Set 1

Question #2

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 its own price

B. Responsiveness of supply to a change in price

C. Responsiveness of quantity demanded of a good to a change in the price of another good

D. Responsiveness of quantity demanded to a change in income

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Correct Answer: Option C

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

Question #3

The 'Periodic Labour Force Survey' was started in which year?

A. 2019

B. 2015

C. 2018

D. 2017

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Correct Answer: Option D

Explanation:
PLFS was launched in 2017.

This question belongs to: Economy GK Economy Set 1

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