The Phillips curve shows an inverse relationship between: MCQ with Answer and Explanation

The Phillips curve shows an inverse relationship between:
A. inflation and unemployment
B. inflation and interest rates
C. money supply and price level
D. output and employment
Answer: Option A
Solution (By JKSSB Mock Tests)
The Phillips curve suggests a short-run trade-off between inflation and unemployment.

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Practice More Economy Set 1 Questions

Question #1
The 'Digital India' programme was launched in:
A. 2012
B. 2016
C. 2018
D. 2015

Correct Answer: Option D


Explanation:
Digital India was launched in July 2015.

This question belongs to: Economy GK Economy Set 1
Question #2
The concept of 'Social Reproduction' in feminist economics refers to:
A. Only biological reproduction without social dimensions
B. The activities and processes that maintain and reproduce the labour force on a daily and intergenerational basis, often performed unpaid within households
C. Only the reproduction of capital
D. Only market production of goods

Correct Answer: Option B


Explanation:
Social reproduction encompasses the unpaid and paid activities—care, domestic work, education, health—that reproduce people as social and economic beings on a daily and generational basis.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Bretton Woods twins' refer to:
A. IMF and World Bank
B. UNESCO and FAO
C. ILO and WHO
D. WTO and UNCTAD

Correct Answer: Option A


Explanation:
The IMF and World Bank are known as the Bretton Woods twins.

This question belongs to: Economy GK Economy Set 1