The 'International Labour Organization' headquarters is in: MCQ with Answer and Explanation

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The 'International Labour Organization' headquarters is in:

A. Paris

B. New York

C. Rome

D. Geneva

Answer: Option D

Solution (By JKSSB Mock Tests)

ILO headquarters is in Geneva.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the context of the Phillips Curve, the long-run Phillips Curve is:

A. Vertical at the natural rate of unemployment

B. Downward sloping

C. Upward sloping

D. Horizontal

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Correct Answer: Option A

Explanation:
In the long run, the Phillips Curve is vertical at the natural rate of unemployment, indicating no permanent trade-off between inflation and unemployment.

This question belongs to: Economy GK Economy Set 1

Question #2

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In the context of consumer theory, the budget line represents:

A. Combinations of goods that can be purchased with a given income and prices

B. Combinations of prices that maximise profit

C. Combinations of goods that give the same utility

D. Combinations of inputs that give the same output

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Correct Answer: Option A

Explanation:
The budget line shows all possible combinations of two goods that a consumer can afford given his money income and the prices of the goods.

This question belongs to: Economy GK Economy Set 1