This quiz works best with JavaScript enabled. Home > Cbse > Class 11 > Commerce > Economics Indian Economic Development > Class 11 Economics (Indian Economic Development) Chapter 7 Employment Growth, Informalisation And Other Issues – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Indian Economic Development) Chapter 7 Employment Growth, Informalisation And Other Issues Quiz 2 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The W-4 tax form is used to ..... A) Avoid paying income taxes on your paychecks. B) Tell your employer how much federal income tax to withhold from your paychecks to send to the IRS. C) File your tax return. D) Determine how much your gross pay should be. Show Answer Correct Answer: B) Tell your employer how much federal income tax to withhold from your paychecks to send to the IRS. 2. Why might preparing taxes be different for people living in different states? A) Everyone must file federal taxes, but each state has different tax laws. B) Everyone must file state taxes but depending on where you live, you may not need to file federal taxes. C) It's not different. All states have the same tax laws. D) State taxes are due January 1st but federal taxes are due April 15th. Show Answer Correct Answer: A) Everyone must file federal taxes, but each state has different tax laws. 3. An establishment with four hired workers is known as ..... sector establishment. A) Formal. B) Informal. C) All the above. D) None of the above. Show Answer Correct Answer: B) Informal. 4. Unemployment refers to people- A) Who have been dismissed from job. B) Who leave their job. C) Who are willing but do not get work. D) Who are not willing to work. Show Answer Correct Answer: C) Who are willing but do not get work. 5. The ratio of labour force to total population is termed as A) (a) Labour force participation rate. B) (b) Work force. C) Both (a) and (b). D) Neither (a) nor (b). Show Answer Correct Answer: A) (a) Labour force participation rate. 6. Umowa na czas wykonania danej pracy A) Contract of mandate. B) Contract to perform a specified task or work. C) For the time of completion of a specified task. D) Contract of management. Show Answer Correct Answer: C) For the time of completion of a specified task. 7. The unfair treatment of people on the basis of characteristics such as race, nationality, gender, or disability A) Social security. B) Discrimination. C) Unemployment compensation. D) Workers compensation. Show Answer Correct Answer: B) Discrimination. 8. Which trait do you think is most important if you want to be an artist? A) Flexible. B) Articulate. C) Presentable. D) Creative. Show Answer Correct Answer: D) Creative. 9. Choose the correct suffix to make the word a noun for a person:Farm A) -or. B) -ian. C) -er. D) -ee. Show Answer Correct Answer: C) -er. 10. Child Labor Laws are set in place to A) Help Employees. B) Provide protection to all workers. C) Protect Young Workers. D) Stop young people from working. Show Answer Correct Answer: C) Protect Young Workers. 11. Not to be at your workplace for a period of time, usually because of materninty leave, illness etc means A) To be out of work. B) To get perks. C) To be made redundant. D) To be off work. Show Answer Correct Answer: D) To be off work. 12. Disguised unemployment refers to A) Persons with no jobs. B) More persons employed for a job which less can accomplish. C) Unemployment among woman. D) People who are not willing to work. Show Answer Correct Answer: B) More persons employed for a job which less can accomplish. 13. When an individual's pay is based on the total number of hours worked, multiplied by the rate of pay per hour, the individual earns a(n) A) Hourly wage. B) Net wage. C) Gross salary. D) Annual salary. Show Answer Correct Answer: A) Hourly wage. 14. Involuntary unemployment occurs when: A) Workers voluntarily leave their jobs for personal reasons. B) Workers are unable to find work despite being willing and able to work at the prevailing wage rate. C) Workers are employed in part-time jobs by choice. D) People retire before the legal retirement age. Show Answer Correct Answer: B) Workers are unable to find work despite being willing and able to work at the prevailing wage rate. 15. Having personal contacts at a job gives an applicant little to no advantages and will NOT cause them to stand out. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 16. Jason's Deli hires Sam as a consultant to improve the menu. The CEO assigns the VP of Marketing to assist the consultant. In this scenario, Jason's Deli is the: A) Employee. B) Agend. C) Employer. D) Independent contractor. Show Answer Correct Answer: C) Employer. 17. Average propensity to Consume is equal to:- A) $\Delta$C/$\Delta$Y. B) $\Delta$Y/$\Delta$S. C) C/Y. D) Y/C. Show Answer Correct Answer: C) C/Y. 18. Which of the following is the legal term for the bargain occurring when one party gives something up and another party receives something in return? A) Consideration. B) Counteroffer. C) Offer. D) Negotiation. Show Answer Correct Answer: A) Consideration. 19. Someone who receives training from an employer, and earns a qualification at the end of the training A) Volunteer. B) Apprentice. C) Employed. D) Full-Time. Show Answer Correct Answer: B) Apprentice. 20. The form that is used to complete the 1040 and 1040N tax returns is the A) 1040 Form. B) W-4 Form. C) W-2 Form. D) 1040N Form. Show Answer Correct Answer: C) W-2 Form. 21. Hired workers may be ..... workers or casual workers. A) Regular. B) Self-employed. C) Informal. D) None of these. Show Answer Correct Answer: A) Regular. 22. A position taken by a student or trainee who works to gain experience or fulfill a qualification, without pay A) Internship. B) Full-Time. C) Contractor. D) Entrepreneur. Show Answer Correct Answer: A) Internship. 23. Unemployment that occurs at certain seasons of the year is known as- A) Educational Unemployment. B) Seasonal Unemployment. C) Hidden Unemployment. D) Open unemployment. Show Answer Correct Answer: B) Seasonal Unemployment. 24. There are various jobs ..... for them:animal caretakers, waiters, shop assistants etc. A) Present. B) Stressful. C) Offer. D) Available. Show Answer Correct Answer: D) Available. 25. The number of persons who are actually employed at a particular time are known as labour force A) True. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 26. Robert was fired from his manufacturing job without cause. Which benefit is Robert entitled to receive from this situation? A) Employment at will. B) Unemployment compensation. C) Unpaid vacation leave. D) Workers compensation. Show Answer Correct Answer: B) Unemployment compensation. 27. The authors' mention of a 4% wage increase for men entering female-dominated jobs is an appeal to: A) Emotional response. B) Statistical evidence. C) Personal experience. D) Expert authority. Show Answer Correct Answer: B) Statistical evidence. 28. Which of the following statements is true about education and lifetime earnings? A) Generally, the less education you receive, the higher your lifetime earnings will be. B) Generally, the more education you receive, the lower your lifetime earnings will be. C) There is no relationship between the level of education received and lifetime earnings. D) Generally, the more education you receive, the higher your lifetime earnings will be. Show Answer Correct Answer: D) Generally, the more education you receive, the higher your lifetime earnings will be. 29. What is your address? A) The country you live in. B) The house number, street name, town or city + your postcode. C) How old you are. D) None of the above. Show Answer Correct Answer: B) The house number, street name, town or city + your postcode. 30. An agreement where an employee can be discharged at any time without liability for breach. A) Employment at will. B) Due process. C) Implied agreement. D) Union contract. Show Answer Correct Answer: A) Employment at will. 31. Which of the following would you need in order to fill out your 1040? A) Your employer benefits documentation. B) Your job offer. C) Your W-2. D) Your credit card statement. Show Answer Correct Answer: C) Your W-2. 32. ..... ratio is calculated by dividing total number of workers in India by the population in India and multiplying it by 100. A) Non-worker ratio. B) Participation ratio. C) Not known. D) Both. Show Answer Correct Answer: B) Participation ratio. 33. What legislation governs the protection of personal data within the EU? A) General Data Protection Regulation (GDPR). B) Consumer Protection Act. C) Employment Rights Act. D) Health and Safety at Work Act. Show Answer Correct Answer: A) General Data Protection Regulation (GDPR). 34. Ted worked at a factory that was destroyed by fire. What benefit should Ted receive? A) Implied employment agreement. B) Express employment agreement. C) Workers compensation. D) Unemployment compensation. Show Answer Correct Answer: D) Unemployment compensation. 35. The number of persons who are actually employed at a particular time are known as- A) Labour Force. B) Agriculture force. C) Child Labour. D) Work Force. Show Answer Correct Answer: D) Work Force. 36. Action taken by employees of a company as a protest, especially striking or working to rule. A) Go-Slow. B) Industrial Democracy. C) Work-to-Rule. D) Industrial Action. E) Deadlock. Show Answer Correct Answer: D) Industrial Action. 37. The incarcerated population is not counted in unemployment statistics. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 38. Workers hired on a permanent basis who get social security benefits are called: A) Casual workers. B) Regular workers. C) Self employed workers. D) None of these. Show Answer Correct Answer: B) Regular workers. 39. What is an occupation? A) A part of an airport. B) A work schedule. C) A job or profession. D) A country. Show Answer Correct Answer: C) A job or profession. 40. What are qualifications? A) Skills, knowledge, and experience for a job. B) Having a paid job. C) An occupation for a significant period. D) A job or profession. Show Answer Correct Answer: A) Skills, knowledge, and experience for a job. 41. Common law governs the sale of goods. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 42. The article's discussion of economic devaluation of "women's work" primarily appeals to: A) Logic and reason. B) Emotional response. C) Statistical data. D) Expert authority. Show Answer Correct Answer: B) Emotional response. 43. An official document that gives permission to a foreigner or minor to work under limited circumstances. A) Drivers License. B) Work Permit. C) Contract. D) None of the above. Show Answer Correct Answer: B) Work Permit. 44. It is a description of WHAT the employees value in the company as an employer: A) EVP. B) VPE. C) TRP. D) SMART. Show Answer Correct Answer: A) EVP. 45. The authors' use of statistical data about male nurses (13%) primarily appeals to: A) Ethos. B) Personal opinion. C) Pathos. D) Logos. Show Answer Correct Answer: D) Logos. 46. Most jobs are considered at-will employment, particularly entry-level jobs. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 47. The article's overall purpose is to A) Argue that men have no place in women-dominated fields. B) Advocate for women losing jobs to men. C) Report on a growing trend about careers for men and women. D) Educate the general public about job shortages. Show Answer Correct Answer: C) Report on a growing trend about careers for men and women. 48. Employment is ..... A) When you do a favor for someone. B) When your dad asks you to do chores. C) When a person cannot find work after looking for a job for more than 4 weeks. D) When a person works or completes tasks for another person or company, and in exchange receives some form of payment. Show Answer Correct Answer: D) When a person works or completes tasks for another person or company, and in exchange receives some form of payment. 49. The Federal Insurance Contributions Act (FICA) includes what 2 MANDATORY taxes? A) Education and Health Care. B) Social Security and Medicare. C) Medicare and Military. D) Social Security and Military. E) Military and Agriculture. Show Answer Correct Answer: B) Social Security and Medicare. 50. A product sale is considered a contract. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 51. You are required to file a tax return in all of the following scenarios EXCEPT ..... A) You made $ 25, 000 working a full-time job. B) You made $ 3, 000 from investments in the stock market. C) You were self-employed and made $ 2, 500. D) You made $ 9, 000 working a part-time job. Show Answer Correct Answer: D) You made $ 9, 000 working a part-time job. 52. Saying or doing something that you do not really think or believe means being A) Immature. B) Insincere. C) Insecure. D) Reserved. Show Answer Correct Answer: B) Insincere. 53. A person who identifies a need and starts a business to fill that void; the persistent progression toward an innovative solution to a key problem. Example Owners:Barbers who open their shop, startups, music recording companies, mobile app developers, clothing designers (a) A) A. Entrepreneur. B) Employee. C) Freelancer. D) Contractor. Show Answer Correct Answer: A) A. Entrepreneur. 54. The gap by which actual aggregate demand exceeds the aggregate demand required to establish full employment equilibrium is known as ..... A) Deficient demand. B) Deflationary gap. C) Inflationary gap. D) Excess demand. Show Answer Correct Answer: C) Inflationary gap. 55. Although it's tempting to spend your holiday time working and earning money, it's not a good idea to forget about your education. Most young people get a job when they finish their education. And they need to begin thinking about ..... choices in secondary school. A) Trade. B) Job. C) Employment. D) Career. Show Answer Correct Answer: D) Career. 56. Means agents must not work for one of the principal's competitors or make deals that benefit themselves A) Cooperation. B) Judgement. C) Good faith. D) Loyalty. Show Answer Correct Answer: D) Loyalty. 57. Somebody you cannot trust is A) Bad-tempered. B) Dishonest. C) Stubborn. D) Insecure. Show Answer Correct Answer: B) Dishonest. 58. Which of the following is the correct definition of "Full Employment" ? A) All workers are employed at all times. B) Only skilled workers are employed. C) Every person who wants to work can find employment at the prevailing wage rate. D) Unemployment is zero at all times. Show Answer Correct Answer: C) Every person who wants to work can find employment at the prevailing wage rate. 59. Choose the correct definition:wage A) Money paid for a number of hours. B) Monthly payment. C) All the above. D) None of the above. Show Answer Correct Answer: A) Money paid for a number of hours. 60. An employee that works more than 35 hours per week A) Casual. B) Full-Time. C) Seasonal. D) Part-Time. 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