inclusive growth, sustainable development & employment section 1 MCQ Questions & Answers Detailed Explanation

Answer: (d)

Answer: (b)

The Perform Achieve Trade is a trading scheme aimed to reduce energy consumption in industries across India using market-oriented mechanisms.

The scheme is being designed and implemented by the Bureau of Energy Efficiency (BEE), under the Ministry of Power, India.

Answer: (c)

Net National Product (NNP) is Gross National Product minus a depreciation allowance for the wearing out of machines and buildings during the period.

In other words, NNP= Gross National Product – Depreciation Allowance.

Since NNP counts only the net additions to the nation’s stock, it is less than GNP.

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

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$).

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).