The Labour Force Participation Rate is calculated as: MCQ with Answer and Explanation

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The Labour Force Participation Rate is calculated as:

A. unemployed divided by labour force multiplied by 100

B. employed divided by unemployed

C. total population divided by employed

D. labour force divided by working-age population multiplied by 100

Answer: Option D

Solution (By JKSSB Mock Tests)

LFPR = (labour force / working-age population) × 100.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is NOT a maturity period for Treasury bills in India?

A. 364 days

B. 730 days

C. 91 days

D. 182 days

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Correct Answer: Option B

Explanation:
Treasury bills in India are issued for 91, 182 and 364 days.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'G20' comprises how many members?

A. 24 countries

B. 20 countries

C. 19 countries plus EU

D. 22 countries

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Correct Answer: Option C

Explanation:
G20 comprises 19 countries and the European Union.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Fiscal Responsibility and Budget Management Act' originally targeted elimination of revenue deficit by which year?

A. 2013-14

B. 2010-11

C. 2008-09

D. 2006-07

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Correct Answer: Option C

Explanation:
FRBM aimed to eliminate revenue deficit by 2008-09.

This question belongs to: Economy GK Economy Set 1

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