The 'shadow economy' refers to: MCQ with Answer and Explanation

Question

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The 'shadow economy' refers to:

A. unreported economic activities outside the formal sector

B. banking sector

C. formal sector activities

D. stock market

Answer: Option A

Solution (By JKSSB Mock Tests)

The shadow economy consists of unreported economic activities.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is NOT a component of the Human Development Index?

A. Life expectancy at birth

B. Education

C. Per capita income

D. Gender equality

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Correct Answer: Option D

Explanation:
HDI has three dimensions: health (life expectancy), education (mean and expected years of schooling) and standard of living (GNI per capita). Gender equality is measured by separate indices like GII.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which Sustainable Development Goal relates to decent work and economic growth?

A. SDG 8

B. SDG 13

C. SDG 5

D. SDG 17

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Correct Answer: Option A

Explanation:
SDG 8 promotes sustained, inclusive economic growth and decent work for all.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Eleventh Five Year Plan' period was:

A. 2010-2015

B. 2002-2007

C. 2004-2009

D. 2007-2012

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Correct Answer: Option D

Explanation:
The Eleventh Five Year Plan covered 2007-2012.

This question belongs to: Economy GK Economy Set 1

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