Employment Growth Informational and other Issues - Online Test
Q1. Which of the following types of activities are covered in the secondary sector?
Answer : Option D
Explaination / Solution:
The secondary sector include industries that produce a finished, usable product or are involved in construction. This sector generally takes the output of the primary sector and manufactures finished goods or where they are suitable for used by other businesses, for export, or sale to domestic consumers.
Q2. Manufacturing, Construction, Electricity gas and water supply is included in
Answer : Option B
Explaination / Solution:
The secondary sector include industries that produce a finished, usable product or are involved in construction. This sector generally takes the output of the primary sector and manufactures finished goods or where they are suitable for used by other businesses, for export, or sale to domestic consumers.
Q3. Fluctuations in output and employment through a sequence of boom, recession, depression and recovery known as
Answer : Option D
Explaination / Solution:
The business cycle is the natural rise and fall of economic growth that occurs over time. The cycle is a useful tool for analyzing the economy. It can also help you make better financial decisions.
Q4.
Which of the following is the cause of rural unemployment
(i) Decline in size of land holdings
(ii) Excessive use of foreign technology
(iii) Backwardness of agriculture.
Answer : Option C
Explaination / Solution:
The major causes which have been responsible for the wide spread unemployment can be termed as Rapid Population Growth, Limited land, Seasonal Agriculture, Fragmentation of land, Backward Method of Agriculture, Decline of Cottage Industries, Defective education, Lack of transport and communication, Inadequate Employment Planning etc.
Q5. Which of the following is false regarding formal sector
Answer : Option C
Explaination / Solution:
Sector which encompasses all jobs with normal hours and regular wages, and are recognized as income sources on which income taxes must be paid can be termed as formal sector.
Q6. The fundamental cause of unemployment from the labour demand angle is
Answer : Option B
Explaination / Solution:
when consumer demand for a product or service declines there can be a corresponding reduction in supply production to compensate. As the supply levels are reduced, fewer employees are required to meet the lower standard of production volume.
Q7. Find odd one out
Answer : Option B
Explaination / Solution:
Self-employed is a situation in which an individual works for himself instead of working for an employer that pays a salary or a wage. A self-employed individual earns his income through conducting profitable operations from a trade or business that he operates directly.
Q8. _____ is the highest economic activity while _____ is that of the lowest economic activity
Answer : Option A
Explaination / Solution:
A boom is a period of rapid economic expansion resulting in higher GDP, lower unemployment and rising asset prices. Booms usually suggest the economy is overheating creating inflationary pressures. Many economic booms have been followed by a bust – economic recession or downturn. A depression is an economic downturn that is longer lasting and more severe than the more frequently occurring recessions.
Q9. A newly emerging jobs are found mostly in
Answer : Option C
Explaination / Solution:
The service sector produces intangible goods, more precisely services instead of goods, and according to the U.S. Census Bureau, it is comprised of various service industries including warehousing and truck transportation services; information sector services; commodities, securities and other investment services; professional, technical and scientific services; waste management services; health care and social assistance services; and arts, entertainment and recreation services.
Q10. The amount of labour that workers are willing to offer corresponding to a particular wage rate called
Answer : Option B
Explaination / Solution:
The labour supply is the total hours (adjusted for intensity of effort) that workers wish to work at a given real wage rate. It is frequently represented graphically by a labour supply curve, which shows hypothetical wage rates plotted vertically and the amount of labour that an individual or group of individuals is willing to supply at that wage rate plotted horizontally.
