inclusive growth, sustainable development & employment section 1 MCQ Questions & Answers Detailed Explanation
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The following question based on Inclusive growth, Sustainable development and employment topic of indian economy mcq
(a) GDP per head at real purchasing power.
(b) GDP per head in the US dollars.
(c) GNP in US dollars
(d) National Income per head in US dollars.
The correct answers to the above question in:
Answer: (d)
Human Development Report the HDI combines three dimensions:
- A long and healthy life: Life expectancy at birth,
- Education index: Mean years of schooling and
- Expected years of schooling and A decent standard of living: GNI per capita (PPP US$).
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Question : 1
In case of disguised unemployment, which of the following will hold true
- Marginal productivity of capital will be zero
- Productivity of labour will be less
a) Both (i) & (ii)
b) (i) only
c) (ii) only
d) Neither (i) nor (ii)
Answer »Answer: (c)
Disguised unemployment arises because more labourers work in the factory/land than are required. And hence productivity
i.e. production per unit of labour will be less. So, (ii) statement is correct.
In such a case, if we add more capital then production may increase but if we add more labour then production will not increase.
So, Marginal Productivity of capital = $\text"change in production"/\text"change in capital"$ will be positive
But, Marginal Productivity of labour = $\text"change in production"/\text" change in labour"$ will be zero
Question : 2
Human Development Index was developed by :
a) Mahbub-ul-Haq
b) Friedman
c) Montek Singh
d) Amartya Sen
Answer »Answer: (b)
The origins of the Human Development Index (HDI) are found in the annual Human Development Reports of the United Nations Development Programme (UNDP). These were devised and launched by Pakistani economist Mahbub ul Haq in 1990.
To produce the Human Development Reports, Mahbub ul Haq brought together a group of well-known development economists including:
- Paul Streeten,
- Frances Stewart,
- Gustav Ranis,
- Keith Griffin,
- Sudhir Anand and
- Meghnad Desai.
But it was Nobel laureate Amartya Sen’s work on capabilities and functionings that provided the underlying conceptual framework.
Question : 3
Which one of the following is not a measure of reducing inequalities?
a) Minimum needs programme
b) Taxation
c) Land Reforms
d) Liberalisation of economy
Answer »Answer: (d)
Question : 4
An economic theory is a/an
a) Hypothesis
b) Proposition
c) Tested hypothesis
d) Axion
Answer »Answer: (b)
A theory is an established explanation that accounts for known facts or phenomena.
Specifically, economic theories ate statements or propositions about patterns of economic behaviour under certain circumstances.
These theories help us sort out and understand the complexities of economic behaviour (Exploring Economics by Robert L. Sexton, p 9).
Question : 5
Consider the following statements:
- Inclusive is India’s most comprehensive financial inclusion index for measuring the progress of financial inclusion.
- Inclusix is developed by ICRA.
- It measures financial inclusion only on the two critical parameters of basic banking services–branch penetration and deposit penetration.
a) 2 and 3
b) 1 and 2
c) 1 only
d) 1, 2 and 3
Answer »Answer: (c)
CRISIL has developed “Inclusix” which is India’s most comprehensive financial inclusion index for measuring the progress of financial inclusion in the country, down to district level.
Inclusix Index measures financial inclusion on the three critical parameters of basic banking services–branch penetration, deposit penetration and credit penetration.
Question : 6
Which one of the following age groups is eligible for enrolment under ‘Sarva Shiksha Abhiyan’?
a) 6-14 years
b) 5-14 years
c) 5-15 years
d) 6-15 years
Answer »Answer: (a)
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