The 'labour force' is defined as: MCQ with Answer and Explanation

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The 'labour force' is defined as:

A. total population

B. employed plus unemployed

C. working-age population only

D. employed only

Answer: Option B

Solution (By JKSSB Mock Tests)

Labour force = employed + unemployed.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The Fiscal Responsibility and Budget Management Act was enacted in which year?

A. 2001

B. 2003

C. 2005

D. 1999

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Correct Answer: Option B

Explanation:
The FRBM Act was enacted in 2003.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'accelerator coefficient' is the ratio of:

A. investment to output

B. investment to consumption

C. saving to investment

D. change in investment to change in output

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Correct Answer: Option D

Explanation:
The accelerator is the ratio of induced investment to a change in output.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is NOT a source of non-tax revenue for the government of India?

A. Corporation tax

B. Dividends from PSUs

C. Fees and fines

D. Interest receipts

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Correct Answer: Option A

Explanation:
Corporation tax is a tax revenue. Interest receipts, dividends from public sector undertakings, and fees and fines are non-tax revenues.

This question belongs to: Economy GK Economy Set 1

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