Employment Growth Informational and other Issues - Online Test
Q1. Inflation in food items is ___ than in manufactured products
Answer : Option A
Explaination / Solution:
There are four causes of inflation in world food prices. They will drive up food prices in the long run. There are also short-term factors that affect supply and demand. Those include the weather, animal diseases and catastrophes.
Q2. Total employment in India in1950 was
Answer : Option C
Explaination / Solution:
Indian economic policy after independence was influenced by the colonial experience, which was seen as exploitative by Indian leaders exposed to British social democracy and the planned economy of Soviet Union. Domestic policy tended towards protectionism, with a strong emphasis on import substitution industrialisation, economic interventionism, a large government-run public sector, business organisatiob, and central planning. While trade and foreign investment policies were relatively liberal. Five year plans of India resembled central planning in the Soviet Union. Steel, mining, machine tools, telecommunications, insurance, and power plants, among other industries, were effectively nationalised in the mid-1950s.
Q3. Match the following. Options are
Answer : Option A
Explaination / Solution:
Open employment means doing a job which can be done by any person. You do the same job as your co-workers and are paid the same wages. Seasonal jobs are temporary and short-term by definition. For example, retailers hire extra workers for the holiday season, tax preparation firms hire employees for tax season, ski resorts hire workers during winter ski season, and amusement parks hire summer seasonal workers. Disguised unemployment exists where part of the labor force is either left without work or is working in a redundant manner where worker productivity is essentially zero. It is unemployment that does not affect aggregate output.
