The 'Periodic Labour Force Survey' was started in which year? MCQ with Answer and Explanation

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The 'Periodic Labour Force Survey' was started in which year?

A. 2017

B. 2019

C. 2015

D. 2018

Answer: Option A

Solution (By JKSSB Mock Tests)

PLFS was launched in 2017.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'circular flow of income' in a two-sector economy includes:

A. only firms

B. government and foreign sector

C. only households

D. households and firms

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Correct Answer: Option D

Explanation:
A two-sector economy includes households and firms.

This question belongs to: Economy GK Economy Set 1

Question #2

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The term 'Budgetary Deficit' in the earlier classification referred to:

A. Primary deficit

B. Fiscal deficit

C. Difference between revenue expenditure and revenue receipts plus capital receipts excluding borrowings

D. Excess of total expenditure over total receipts excluding borrowings

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Correct Answer: Option C

Explanation:
In the older classification, budgetary deficit was the difference between total expenditure and total receipts (both revenue and capital, excluding borrowings). It is no longer widely used.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a feature of the 'Paris Agreement' on climate change?

A. A treaty limited to developed countries only

B. A global framework under which countries submit nationally determined contributions to limit global warming

C. A legally binding set of identical emission targets for all countries

D. Only a voluntary declaration without any reporting requirements

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Correct Answer: Option B

Explanation:
The Paris Agreement establishes a framework in which each party submits successive nationally determined contributions (NDCs) outlining its climate actions, with the collective aim of limiting global temperature rise.

This question belongs to: Economy GK Economy Set 1

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