national income & human development index section 2 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 5 EXERCISES
The following question based on National Income & Human Development Index topic of indian economy mcq
(a) 2004-05 to 2013-14
(b) 2001-02 to 2010-11
(c) 2001-02 to 2011-12
(d) 2004-05 to 2011-12
The correct answers to the above question in:
Answer: (d)
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Question : 1
The ‘activity rate’ of an economy depends upon so many factors, such as :
- School leaving age
- Popularity of higher education
- Social customs
- Retirement age
a) 2 and 3
b) 1 and 2
c) 2, 3 and 4
d) 1, 2, 3 and 4
Answer »Answer: (d)
The labour force of an economy is known as the activity rate (also called the participation rate).
It is shown in per cent and always as a proportion of an economy. The concept of the ‘demographic dividend’ is related to this rate.
Question : 2
The ‘World Economic Outlook Report’ is released by
a) Asian Development Bank
b) World Bank
c) International Labour Organisation
d) International Monetary Fund
Answer »Answer: (d)
Question : 3
It will be true to classify India as
a) a labour-surplus economy
b) a food-deficit economy
c) a trade-surplus economy
d) a capital-surplus economy
Answer »Answer: (a)
India is a labour-surplus economy because in India there is disguised unemployment along with under-employment which means that a qualified, skilled workforce willing to work is available but there are not enough employment opportunities.
Trade Surplus Economy - Economic measure of positive Balance of trade where a country’s export exceed its imports. Surplus Labour is a concept used by Karl Marx in his critique of political economy.
Capital Surplus - It is equity that cannot otherwise be classified as capital stock or retained earnings.
Question : 4
ABC Index announced by the Government of India is associated with which of the following?
a) Health
b) Agriculture
c) Education
d) Communication
Answer »Answer: (a)
Question : 5
The standard of living in a country is represented by its
a) Per capita income
b) Poverty ratio
c) National income
d) Unemployment rate
Answer »Answer: (a)
Per capita income, also known as income per person, is the mean income of the people in an economic unit such as a country. Per capita income is often used to measure a country’s standard of living.
Poverty Ratio: Ratio of the number of people whose income falls below poverty sine, taken as half the median household income of the total population.
National Income: Total amount of money earned within a country.
Unemployment rate: It is defined most basically as the percentage of the total labour force that is unemployed but actively seeking employment and willing to work.
Question : 6
Per capita income is obtained by dividing national income by
a) total working population
b) total population of the country
c) area of the country
d) volume of the capital used
Answer »Answer: (b)
Per capita income is obtained by dividing national income by the total population of the country per capita income, also known as income per person, is the mean income of the people in a country.
It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross national income) and dividing it by the total population.
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