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 total population

B. workers divided by population in relevant age group

C. labour force divided by population

D. unemployed divided by labour force

Answer: Option B

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

The concept of 'Liquidity Preference' theory of interest was given by:

A. Classical economists

B. Knut Wicksell

C. John Maynard Keynes

D. Irving Fisher

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Correct Answer: Option C

Explanation:
Keynes proposed the liquidity preference theory, which states that the rate of interest is determined by the demand for and supply of money, where demand arises from transactions, precautionary and speculative motives.

This question belongs to: Economy GK Economy Set 1

Question #2

The Gini coefficient value of zero indicates:

A. perfect inequality

B. high poverty

C. no unemployment

D. perfect equality of income distribution

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Correct Answer: Option D

Explanation:
A Gini coefficient of zero indicates perfect equality in income distribution.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on software services is:

A. 18%

B. 5%

C. 12%

D. 28%

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Correct Answer: Option A

Explanation:
Software services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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