Challenge Prelims V1.0 – Day 66 – GS Paper (Indian Economy)

1. In the context of the Indian economy, consider the following statements:

1. The unemployment rate is defined as the percentage of unemployed persons in the labor force.
2. The worker population ratio is defined as the percentage of total workers to the total population.

Which of the statements given above is/are correct?

2. Amal was manual labour in a factory that used to manufacture shoes. The area where the factory was located was bought by a foreign entity that specialized in shoe manufacturing. The machines for the manufacture and design of shoes were imported from the United States of America and manufacturing plants were set up in the area. It was observed that special knowledge of computers and Numerical competency was required to operate those machines which Amal lacked and thus he was fired from his job leading to unemployment.

What kind of unemployment is depicted in the passage given above?

3. Which of the following best describes ‘Casualisation of Workforce’?

4. In the context of poverty categorization in India, which of the following best describes ‘churning poor’?

5. Which of the following is not correct with respect to Phillips Curve?

6. With reference to unemployment, consider the following statements:

1. Classical unemployment occurs when real wages are higher than what a company can afford.
2. Technological unemployment refers to the unemployment of workers whose skill is made redundant because of changes in production methods.
3. Residual unemployment refers to unemployment that does not affect aggregate economic output.

How many of the statements given above are correct?

7. Which of the following provide official sources of data on unemployment in India?

1. Data of National Statistical Organisation (NSO)
2. Data by Director General of Employment and Training
3. Census of India

Select the correct answer using the code given below.

8. In the context of economics, Kuznets Curve shows the relationship between

9. Which of the following statements best describes the term ‘Labour Force Participation Rate (LFPR)’ in India?

10. Periodic Labour Force Survey (PLFS), released by

11. A part of the labour force is either left without work or is working in a redundant manner such that worker productivity is essentially zero.

This situation best describes which of the following types of unemployment?

12. Which of the following initiative(s) will help to improve female work participation?

1. Setting-up of One Stop Centre in all districts of the country.
2. Prime Minister’s Employment Generation Programme.
3. Deendayal Antyodaya Yojana National Rural Livelihoods Mission.
4. Rashtriya Mahila Kosh.

Select the correct answer using the code below.

13. “Usual Status Approach”, “Current Weekly Status Approach”, “Current Daily Status Approach” are used in the measurement of

14. If we keep increasing the employment of an input, with other inputs fixed, eventually a point will be reached after which the resulting addition to output will start falling.

Which of the following laws is best described by the above passage?

15. Which of the following statements best describes the ‘head count ratio’?