The 'labour force participation rate' is calculated as labour force divided by: MCQ with Answer and Explanation

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The 'labour force participation rate' is calculated as labour force divided by:

A. total population

B. working-age population

C. employed persons

D. unemployed persons

Answer: Option B

Solution (By JKSSB Mock Tests)

LFPR is labour force as a percentage of working-age population.

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' initially aimed to reduce fiscal deficit to what percentage of GDP by 2008-09?

A. 6%

B. 5%

C. 3%

D. 2%

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Correct Answer: Option C

Explanation:
The FRBM Act initially aimed to reduce fiscal deficit to 3% of GDP by 2008-09.

This question belongs to: Economy GK Economy Set 1

Question #2

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The Lewis model of economic development is based on:

A. export-led growth

B. labour transfer from agriculture to industry

C. import substitution

D. foreign aid

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Correct Answer: Option B

Explanation:
The Lewis model explains development through transfer of surplus labour from traditional agriculture to modern industry.

This question belongs to: Economy GK Economy Set 1

Question #3

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The concept of 'Green Bonds' refers to:

A. Only conventional government bonds

B. Only high-yield corporate bonds

C. Debt instruments whose proceeds are earmarked for environmentally beneficial projects

D. Only short-term money-market instruments

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Correct Answer: Option C

Explanation:
Green bonds are fixed-income securities issued to raise capital specifically for projects that have positive environmental or climate benefits, with proceeds tracked and reported accordingly.

This question belongs to: Economy GK Economy Set 1

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