The 'labour force participation rate' in India is higher in which age group? MCQ with Answer and Explanation

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The 'labour force participation rate' in India is higher in which age group?

A. 0-14

B. 60+

C. 30-59

D. 15-29

Answer: Option C

Solution (By JKSSB Mock Tests)

Labour force participation is generally higher in the 30-59 age group.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a feature of the 'Real Business Cycle' theory?

A. Fiscal policy is the primary driver of cycles

B. Sticky prices are the main source of fluctuations

C. Business cycles are primarily caused by monetary shocks

D. Business cycles are primarily driven by real shocks, especially technology shocks

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Correct Answer: Option D

Explanation:
Real Business Cycle theory attributes macroeconomic fluctuations mainly to real shocks, particularly technological disturbances, under the assumption of continuous market clearing and rational expectations.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' is applicable in:

A. only special economic zones

B. all states and union territories

C. only states

D. only union territories

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Correct Answer: Option B

Explanation:
GST applies throughout India including states and union territories.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Jamaica Accords' of 1976 formally recognized:

A. floating exchange rates

B. a single world currency

C. the euro currency

D. the gold standard

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Correct Answer: Option A

Explanation:
The Jamaica Accords formalized floating exchange rates.

This question belongs to: Economy GK Economy Set 1

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