The 'Periodic Labour Force Survey' provides estimates of unemployment by: MCQ with Answer and Explanation

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The 'Periodic Labour Force Survey' provides estimates of unemployment by:

A. daily only

B. monthly

C. usual status, CWS and current daily status

D. weekly only

Answer: Option C

Solution (By JKSSB Mock Tests)

PLFS gives unemployment estimates by usual status, current weekly status and current daily status.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is used to measure the degree of openness of an economy?

A. Fiscal deficit as a percentage of GDP

B. Share of exports and imports in GDP

C. Money supply growth rate

D. Unemployment rate

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Correct Answer: Option B

Explanation:
The degree of openness is commonly measured by the ratio of total trade (exports + imports) to GDP, reflecting integration with the global economy.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is NOT a type of market structure based on the number of sellers?

A. Monopsony as a seller-based classification

B. Oligopoly (few sellers)

C. Duopoly (two sellers)

D. Monopoly (one seller)

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Correct Answer: Option A

Explanation:
Monopsony refers to a market with a single buyer. Market structures based on the number of sellers are monopoly, duopoly, oligopoly and perfect competition (many sellers).

This question belongs to: Economy GK Economy Set 1

Question #3

The 'e-invoicing' under GST is mandatory for businesses with turnover above:

A. Rs 20 crore

B. Rs 5 crore

C. Rs 10 crore

D. Rs 1 crore

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Correct Answer: Option B

Explanation:
E-invoicing is mandatory for businesses above a specified turnover threshold, currently Rs 5 crore.

This question belongs to: Economy GK Economy Set 1

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