The 'unemployment rate' under usual status considers a person unemployed if: MCQ with Answer and Explanation

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The 'unemployment rate' under usual status considers a person unemployed if:

A. not working for a long period and seeking work

B. not working for a week

C. not working for one day

D. retired

Answer: Option A

Solution (By JKSSB Mock Tests)

Usual status unemployment refers to unemployment over a long reference period.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'countervailing duty' is imposed to countervail:

A. high tariffs

B. foreign export subsidies

C. dumping

D. currency depreciation

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Correct Answer: Option B

Explanation:
Countervailing duties offset foreign subsidies on exports.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the 'Data-Driven Network Effects'?

A. The absence of any feedback loops

B. Only traditional network effects without data

C. The feedback loop whereby more users generate more data, which improves the service and attracts still more users

D. Network effects that are independent of data

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Correct Answer: Option C

Explanation:
Data-driven network effects arise when additional users generate data that improve the quality of the service (e.g., through better recommendations or predictions), which in turn attracts more users, creating a self-reinforcing cycle.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Bank of Calcutta' was established in which year?

A. 1770

B. 1840

C. 1865

D. 1806

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Correct Answer: Option D

Explanation:
The Bank of Calcutta, later Bank of Bengal, was established in 1806.

This question belongs to: Economy GK Economy Set 1

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