Question : Statement 1: Labor market flexibility is essential for promoting employment growth in India.

Statement 2: Labor market flexibility refers to the ease of hiring and firing workers.

Option 1: Both statements are true.

Option 2: Both statements are false.

Option 3: Statement 1 is true, statement 2 is false.

Option 4: Statement 1 is false, statement 2 is true.

Question : The "skill gap" refers to:

Option 1: The difference in wages between skilled and unskilled workers

Option 2: The disparity in educational attainment across different regions

Option 3: The shortage of workers with specific skills in the labor market

Option 4: The effect of technological advancements on job opportunities

Question : The concept of "skill premium" refers to:

Option 1: The difference in wages between skilled and unskilled workers

Option 2: The cost of acquiring new skills

Option 3: The level of skill required for a particular job

Option 4: The market demand for skilled workers

Question : In the context of workers' movements, the term "collective bargaining" refers to:

Option 1: The process of negotiating wages and working conditions between employers and a group of employees

Option 2: The collective decision-making process within a workers' cooperative

Option 3: The strategy of pooling resources among workers to invest in business ventures

Option 4: The collective action taken by workers to demand political reforms

Question : The concept of "informalization of labor" refers to:

Option 1: The shift from formal employment to self-employment

Option 2: The increase in labor market regulations and protections

Option 3: The integration of the informal sector into the formal economy

Option 4: The migration of workers from rural to urban areas