The 'working-age population' in India is usually defined as persons aged: MCQ with Answer and Explanation

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The 'working-age population' in India is usually defined as persons aged:

A. 21-65

B. 18-70

C. 15-59 or 15-64 depending on definition

D. 10-60

Answer: Option C

Solution (By JKSSB Mock Tests)

Working-age population is generally 15-59 or 15-64 depending on the survey definition.

This question belongs to: Economy GK Economy Set 1

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Question #1

Hyperinflation is characterized by:

A. extremely rapid and out-of-control rise in prices

B. slow price rise

C. stable prices

D. falling prices

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Correct Answer: Option A

Explanation:
Hyperinflation is extremely rapid and uncontrollable price inflation.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following best describes the evolution of planning in India after 2015?

A. Continuation of mandatory Five Year Plans by the Planning Commission

B. Return to highly centralised planning without state participation

C. Replacement of the Planning Commission by NITI Aayog with emphasis on cooperative federalism and strategic advice

D. Complete abandonment of any form of planning or policy coordination

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Correct Answer: Option C

Explanation:
In 2015 the Planning Commission was replaced by NITI Aayog, which focuses on cooperative federalism, policy advice and knowledge sharing rather than imposing centralised plan targets.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of banking regulation, the Capital Adequacy Ratio is prescribed to ensure that:

A. Interest rates on deposits are maximised

B. CRR is fixed at a particular level

C. Banks maintain adequate capital relative to their risk-weighted assets

D. Dividend distribution is unrestricted

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Correct Answer: Option C

Explanation:
The Capital Adequacy Ratio requires banks to hold a minimum amount of capital in proportion to their risk-weighted assets so that they can absorb losses and protect depositors.

This question belongs to: Economy GK Economy Set 1

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