The term 'Disguised Unemployment' implies that: MCQ with Answer and Explanation

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The term 'Disguised Unemployment' implies that:

A. Workers are employed in high-productivity jobs

B. More people are engaged in a task than required, with marginal productivity close to zero

C. Workers are unemployed and actively seeking jobs

D. Unemployment is due to seasonal factors only

Answer: Option B

Solution (By JKSSB Mock Tests)

Disguised unemployment exists when the removal of some workers does not reduce total output, typically found in agriculture in developing countries.

This question belongs to: Economy GK Economy Set 1

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Question #1

In India, the repo rate is decided by:

A. Monetary Policy Committee

B. NITI Aayog

C. Finance Minister

D. RBI Governor

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Correct Answer: Option A

Explanation:
The Monetary Policy Committee of the RBI decides the policy repo rate.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' input tax credit is claimed by:

A. unregistered dealers

B. the government

C. registered businesses on their purchases

D. the final consumer

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Correct Answer: Option C

Explanation:
Registered businesses can claim input tax credit on their purchases.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of international trade, 'Terms of Trade' refer to:

A. Value of exports to value of imports

B. Volume of exports to volume of imports

C. Ratio of export prices to import prices

D. Ratio of import prices to export prices

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Correct Answer: Option C

Explanation:
Terms of Trade (TOT) is the ratio of a country's export prices to its import prices, usually expressed as an index.

This question belongs to: Economy GK Economy Set 1

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