Tag: unemployment and employment generation

Questions Related to unemployment and employment generation

The ___________ net earning from foreign trade is added to the national income of the country.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. positive

  2. negative

  3. constant

  4. total

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Correct Option: A
Explanation:

Import refers to purchasing of goods and services from international market in the country and export refers to selling goods and services in the international market. So export is an income for the country whereas import is an expense for the country. Therefore, when export is higher than imports then the net earnings from the trade of a country is positive which in added to the national income of the economy. 

When a country's export is higher than the imports, the net earning from trade is ___________.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. negative

  2. constant

  3. positive

  4. none of the above

Show answer
Correct Option: C
Explanation:

Import refers to purchasing of goods and services from international market in the country and export refers to selling goods and services in the international market. So export is an income for the country whereas import is an expense for the country. Therefore, when export is higher than imports then the net earnings from the trade of a country is positive. 

When the net earning from foreign trade is zero, it largely impacts the national income.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. True

  2. False

Show answer
Correct Option: B
Explanation:

Import refers to purchasing of goods and services from international market in the country and export refers to selling goods and services in the international market. So export is an income for the country whereas import is an expense for the country. Therefore, when export is equal to imports then the net earnings from the trade of a country is zero which does not impact the national income as the earnings from foreign trade is added to the national income of an economy. 

Net earnings from foreign transactions is symbolically expressed as _____________.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. $X-M$

  2. $X-I$

  3. $G-M$

  4. $M-X$

Show answer
Correct Option: A
Explanation:

Import refers to purchasing of goods and services from international market in the country and export refers to selling goods and services in the international market. So export(X) is an income for the country whereas import(M) is an expense for the country. Therefore, the net earnings from the trade of a country is the excess of exports over import which is symbolically expressed as X-M. 

Government expenditure is a component of the ____________ in the economy

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. aggregate supply

  2. aggregate income

  3. aggregate demand

  4. all of the above

Show answer
Correct Option: C
Explanation:

Government expenditure refers to the expenditure made by the government during the period of an accounting year which forms a part of the aggregate demand in the economy which is incurred either for consumption purpose like judiciary system or investment purpose like infrastructural development. 

The income received by a country through exports, in the form of _____________, can be utilized by the country to import required goods and services.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. domestic currency

  2. foreign currency

  3. SDRs

  4. none of the above

Show answer
Correct Option: B
Explanation:

Import refers to purchasing of goods and services from international market in the country and export refers to selling goods and services in the international market. So when foreign currency is received through exports from a certain country it can be utilized in importing the required goods and services from that country. 

Match the following:

List - I(Type of Unemployment) List - II(Associated Fact)
A. Frictional Unemployment 1. Non-availability of job
B. Structural Unemployment 2. Marginal productivity is zero
C. Seasonal Unemployment 3. Use of obsolete technology for production
D. Disguised Unemployment 4. Population pressure on land
economics employment: growth, informalisation and other issues unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. $4, 2, 1, 3$

  2. $1, 3, 4, 2$

  3. $4, 3, 1, 2$

  4. $1, 2, 4, 3$

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Correct Option: B

Sir Charles Wood's Despatch on Educational reform led to the establishment of first three universities in India.they were established during the year _____________.

economics employment: growth, informalisation and other issues unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. 1854

  2. 1857

  3. 1858

  4. 1904

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Correct Option: A
Explanation:

In 1854 , Sir Charles Wood in his Despatch on Educational Reforms led to the establishment of first three universities in India at Bombay , Calcutta and Madras.

Frictional unemployment is consistent with full employment.

economics employment: growth, informalisation and other issues unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. True

  2. False

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Correct Option: A
Explanation:

Frictional unemployment is an unemployment situation where people are not unemployed owing to not getting any job but they are unemployed because they are searching for a new job or they are getting transferred from one employment to the other. Frictional unemployment remains consistent with full employment if it is at a rate of 3-4% of the full employment. 

Frictional unemployment rate of ________ is consistent with full employment level, as per the experience of developed countries.

economics employment: growth, informalisation and other issues unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. 3 to 4%

  2. 5 to 8%

  3. upto 2%

  4. 10 to 15%

Show answer
Correct Option: A
Explanation:

Frictional unemployment is an unemployment situation where people are not unemployed owing to not getting any job but they are unemployed because they are searching for a new job or they are getting transferred from one employment to the other. Frictional unemployment remains consistent with full employment if it is at a rate of 3-4% of the full employment.