The 'worker population ratio' is defined as: MCQ with Answer and Explanation

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The 'worker population ratio' is defined as:

A. workers divided by population in relevant age group

B. unemployed divided by labour force

C. labour force divided by population

D. workers divided by total population

Answer: Option A

Solution (By JKSSB Mock Tests)

Worker population ratio is workers as a percentage of population in the relevant age group.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the context of public finance, the 'Median Voter Theorem' predicts that:

A. Under certain conditions, the outcome of majority voting will reflect the preference of the median voter

B. The outcome always reflects the preference of the richest voter

C. Only unanimous decisions are possible

D. Voting never produces consistent outcomes

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Correct Answer: Option A

Explanation:
The median voter theorem states that if preferences are single-peaked, majority rule yields the outcome most preferred by the median voter.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'adaptive expectations' hypothesis assumes people form expectations based on:

A. rational models only

B. random guesses

C. past values of the variable

D. future policy announcements only

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Correct Answer: Option C

Explanation:
Adaptive expectations are formed based on past observations.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of public goods, the free-rider problem arises because public goods are:

A. Non-excludable

B. Excludable

C. Private in nature

D. Rivalrous

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Correct Answer: Option A

Explanation:
Since pure public goods are non-excludable, individuals can enjoy the benefits without contributing to the cost, creating an incentive to free-ride.

This question belongs to: Economy GK Economy Set 1

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