The natural rate of unemployment includes: MCQ with Answer and Explanation

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The natural rate of unemployment includes:

A. only disguised unemployment

B. cyclical and seasonal unemployment

C. only open unemployment

D. frictional and structural unemployment

Answer: Option D

Solution (By JKSSB Mock Tests)

The natural rate of unemployment consists of frictional and structural unemployment.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the IS-LM framework, an increase in government expenditure shifts the:

A. LM curve to the right

B. IS curve to the left

C. IS curve to the right

D. LM curve to the left

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Correct Answer: Option C

Explanation:
An increase in government spending raises aggregate demand, shifting the IS curve to the right, leading to higher income and interest rates in the short run.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' zero rating on exports means:

A. exports are taxed at 5%

B. exports are banned

C. exports are exempt with no input tax credit

D. exports are taxed at zero rate and input tax credit is allowed

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Correct Answer: Option D

Explanation:
Zero-rated supplies are taxed at 0% and allow input tax credit refunds.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'State Goods and Services Tax' is levied by:

A. central government

B. RBI

C. local bodies

D. state government

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Correct Answer: Option D

Explanation:
SGST is levied by state governments on intra-state supply.

This question belongs to: Economy GK Economy Set 1

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