national income & human development index section 1 MCQ Questions & Answers Detailed Explanation

Question : 1

Consider the following statements about ‘World Happiness Report 2018’ released by United Nations in March 2018.

1. India dropped 11 spots from its ranking in the previous year 2017.
2. Finland with 1st rank is the happiest country.
3. This report includes only 155 countries.

a) Only 1 and 3

b) Only 1

c) Only 2 and 3

d) Only 1 and 2

Question : 2

Harrod-Domar model of growth is based on the concepts of and their equality.

1. Population and productivity growth.
2. Investment and average growth rate of income.
3. Actual, warranted and natural growth rate.
4. Productivity growth and investment growth. Codes:

   a) 3 only

   b) 1 and 4

   c) 1 and 3

   d) 1, 2 and 3

   Answer »

   Answer: (a)

Question : 3

Which of the following would cause consumption to rise?

a) a greater proportion of the population is between age 20 and 30

b) the GDP Deflator rises

c) transitory income increases

d) income is taken from poor people and given to rich people

Question : 4

The National Income of a country is

a) sum total of factor incomes

b) the annual revenue of the government

c) surplus of PSU’S

d) export minus import

Question : 5

Which among the following are the factors that determine the national income of a country?

a) The state of technical knowledge

b) Quantity and Quality of factors of produced

c) All of the above

d) Economic and Political stability

Question : 6

Consider the following statements :

1. In the history of Indian planning, the actual growth rate of the GDP has never been higher than the targeted growth rate.
2. In the first five year plan, the actual GDP growth rate was more than the targeted growth rate.

a) 2 only

b) 1 only

c) Both 1 and 2

d) Neither 1 nor 2