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MCQ for economy-10-4th-february-2023

by Vajiram & Ravi

29-08-2023

06:35 AM

1.

With reference to underemployment, which one of the following statements is correct?

  • A

    It is a situation where more people are doing work than required.

  • B

    It is a situation wherein a large section of the labour force does not get a job that may yield them a regular income.

  • C

    It is a situation that arises due to drastic changes in the economic structure of a country which results in loss of jobs.

  • D

    It is a situation in which people employed contribute less than their production capacity.

2.

This phenomenon defies the conclusion that inflation and unemployment have a stable and inverse relationship. Recently, the RBI in a report stated India could suffer from this.

The phenomenon in question refers to

  • A

    Hyperinflation

  • B

    Skewflation

  • C

    Creeping inflation

  • D

    Stagflation

3.

Consider the following statements with reference to Central Employment Guarantee Council (CEGC):

1. It is a statutory body.

2. It is chaired by the Union Minister for Labour & Employment.

3. It prepares Annual Reports on the implementation of the Mahatma Gandhi National Rural Employment Guarantee Scheme for submission to Parliament.

Which of the statements given above is/are correct?

  • A

    1 and 2 only

  • B

    2 and 3 only

  • C

    1 and 3 only

  • D

    1, 2 and 3

4.

Consider the following statements:

Statement 1:

PM Rojgar Protsahan Yojana incentives employers for the generation of new employment in the informal sectors.

Statement 2:

The Government will pay Employees Pension Scheme (EPS) contribution for all new employees earning wages less than or equal to Rs 15,000 per month for the first three years.

Which one of the following is correct in respect of the above statements?

  • A

    Both Statement 1 and Statement 2 are correct and Statement 2 is the correct explanation for Statement 1

  • B

    Both Statement 1 and Statement 2 are correct but Statement 2 is not the correct explanation for Statement 1

  • C

    Statement 1 is correct but Statement 2 is not correct

  • D

    Statement 1 is not correct but Statement 2 is correct

5.

Consider the following statements with reference to the Periodic Labour Force Survey (PLFS) and Quarterly Employment Survey (QES):

1. The Central Statistics Office publishes PLFS whereas the Labour bureau releases QES.

2. The PLFS collects labour force data from the households whereas the QES collects employment data from the non-farm establishments.

Which of the statements given above is/are correct?

  • A

    1 only

  • B

    2 only

  • C

    Both 1 and 2

  • D

    Neither 1 nor 2

6.

Which one of the following best describes the term ‘Employment Elasticity’?

  • A

    The ratio of employment growth rate to the economic growth rate.

  • B

    Rate of change of disguised unemployment.

  • C

    Annual change in the rate of unemployment.

  • D

    Change in decadal worker population ratio.

7.

Consider the following statements with reference to Periodic Labour Force Survey 2019-20:

1. Labour force participation rate in India has steadily increased in the last decade.

2. The female Labour force participation rate in rural areas is higher compared to the urban areas.

Which of the statements given above is/are correct?

  • A

    1 only

  • B

    2 only

  • C

    Both 1 and 2

  • D

    Neither 1 nor 2

8.

A ‘Beveridge curve’ is a graphical representation of the relationship between

  • A

    job vacancy rate and Poverty

  • B

    poverty and unemployment

  • C

    unemployment and the Job vacancy rate

  • D

    education and the Job vacancy rate

9.

In the context of the Indian Economy, which of the following is correct about the ‘Kuznets curve’?

  • A

    Unemployment and economic growth share an inverse relationship.

  • B

    There is an optimum level of the tax rate that will maximize revenues for the government.

  • C

    With economic growth comes inflation, which in turn leads to more jobs and less unemployment.

  • D

    With economic growth, inequality first increases but in the longer run it declines.

10.

With reference to the All India Survey on Domestic Workers, consider the following statements:

1. It is the first-ever all India survey on domestic workers in Independent India.

2. It is conducted by the central statistics office (CSO) under the Ministry of Statistics and Program Implementation.

3. It considers a person as a domestic worker if the employment duration is of minimum 15 days in a month.

Which of the statements given above is/are correct?

  • A

    1 only

  • B

    2 and 3 only

  • C

    2 only

  • D

    1 and 3 only

SMTWTFS

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