The 'Indian labour market' is characterized by a large share of employment in: MCQ with Answer and Explanation

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The 'Indian labour market' is characterized by a large share of employment in:

A. unorganized sector

B. public sector

C. foreign companies

D. organized sector

Answer: Option A

Solution (By JKSSB Mock Tests)

A large share of Indian employment is in the unorganized sector.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Census of India' 2011 was the how many-th census?

A. 17th

B. 16th

C. 15th

D. 13th

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Correct Answer: Option C

Explanation:
Census 2011 was the 15th Census of India.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'countervailing duty' is imposed to countervail:

A. currency depreciation

B. high tariffs

C. dumping

D. foreign export subsidies

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Correct Answer: Option D

Explanation:
Countervailing duties offset foreign subsidies on exports.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of the 'New Trade Theory' associated with Paul Krugman?

A. Only comparative advantage based on technology differences matters

B. Economies of scale and product differentiation can explain trade even between similar countries

C. Trade always reduces welfare

D. Trade is explained only by differences in factor endowments

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Correct Answer: Option B

Explanation:
New Trade Theory emphasises that increasing returns to scale and consumers’ preference for variety can generate trade and gains from trade even between countries with similar factor endowments.

This question belongs to: Economy GK Economy Set 1

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