The 'unemployment rate' in India measured by PLFS is the percentage of unemployed among: MCQ with Answer and Explanation

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The 'unemployment rate' in India measured by PLFS is the percentage of unemployed among:

A. labour force

B. total population

C. working-age population

D. employed persons

Answer: Option A

Solution (By JKSSB Mock Tests)

Unemployment rate is unemployed as a percentage of the labour force.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a feature of the 'Fintech' revolution in financial services?

A. Only the activities of central banks

B. Only the use of paper-based processes

C. The use of technology to deliver financial services in new ways, often by non-traditional providers

D. The complete replacement of all traditional banks overnight

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Correct Answer: Option C

Explanation:
Fintech refers to technological innovation in the design and delivery of financial services, encompassing payments, lending, insurance, wealth management and other activities often provided by new entrants.

This question belongs to: Economy GK Economy Set 1

Question #2

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The concept of 'Dutch Disease' refers to:

A. Only the impact of oil prices on inflation

B. The negative impact of a natural resource boom on the manufacturing sector through currency appreciation

C. A disease affecting agricultural productivity

D. The positive impact of resource discovery on all sectors

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Correct Answer: Option B

Explanation:
Dutch Disease describes the phenomenon whereby a boom in the natural resource sector leads to real exchange rate appreciation, making the manufacturing and other tradable sectors less competitive.

This question belongs to: Economy GK Economy Set 1