national income & human development index section 4 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) Secondary sector
(b) Primary sector
(c) Tertiary sector
(d) Public sector
The correct answers to the above question in:
Answer: (c)
The tertiary sector of the Indian economy contributes the largest to the GDP. During the last decade, the tertiary sector has shown remarkable expansion.
The economy is divided into three sectors on the basis of activities-primary, secondary and tertiary.
The primary sector is involved in agriculture, the secondary sector is involved in manufacturing, mining, construction while the tertiary sector is involved in trade, transport, communication, banking & other services.
In the last decade, India has expanded maximum in providing services like IT, telecommunication, healthcare, tourism which is contributing around 60% to GDP.
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Question : 1
Which one of the following is related with the Atkinson’s index of an economy ?
a) An effect of supply demand mismatch
b) A method to determine the income inequality
c) A method to determine the unemployment
d) None of the above
Answer »Answer: (b)
The Atkinson index is a measure of income inequality developed by British economist Anthony Barnes Atkinson.
The measure is useful in determining which end of the distribution contributed most to the observed inequality.
Question : 2
Which one of the following publishes the ‘Global Competitiveness Index’ report?
a) IMF
b) UNDP
c) WTO
d) World Economic Forum
Answer »Answer: (d)
Question : 3
National Income is the
a) Net National Product at factor cost
b) Net National Product at market price
c) Net Domestic Product at factor cost
d) Net Domestic Product at market price
Answer »Answer: (a)
Question : 4
Which one of the following states was having the highest Human Development Index in the year 2012?
a) Kerala
b) Assam
c) Uttar Pradesh
d) Madhya Pradesh
Answer »Answer: (a)
The Human Development Index (HDI) is a composite statistic of life expectancy, education, and income used to rank states.
Among the given states Kerala was having the highest Human Development Index around 0.92 in the year 2012 for achieving the highest literacy rate, quality health services and consumption expenditure of people.
Latest HDI of the Indian state - Kerala - Highest (0.797) - Chhattishgarh lowest (NA)
Question : 5
Which of the following is a sign of economic growth?
a) A sustained increase in real per capita income
b) An increase in national income at constant prices during a year
c) An increase in national income along with increase in population
d) An increase in national income at current prices overtime
Answer »Answer: (a)
Question : 6
Human Development Index (HDI) is constructed with reference to
- Life expectancy at birth, real GDP per capita, gross enrolment ratio, adult literacy rate.
- Life expectancy at birth, real GDP per capita, combined gross enrolment ratio, adult literacy rate.
- Life expectancy, GDP per capita, infant mortality rate, literacy rate.
- GDP per capita, infant mortality rate, literacy rate
a) 1 and 3
b) 1 and 2
c) 3 only
d) 1, 2 and 4
Answer »Answer: (b)
HDI is the geometric mean of (i) Life Expectancy Index (LEI), Education Index (EI) and Income Index (II)
HDI =$↖3√{LEI × EI × II}$
LEI =$\text"Life Expectancy - 20"/{82.3 - 20}$
(where 20 and 82.3 are the minimum and maximum values of expectancy of life at birth in years).
EI = $√{MYSLEYSI - 0}/{0.951 - 0}$
where MYSI (Mean Years of Schooling Index)
=${MYS - 0}/{13.2 - 0}$
EYSI (Expected Years of Schooling Index)
= ${EYS - 0}/{20.6 - 0}$
II = $\text"Log Per Capita GNI - log 100"/\text"log(107721) - log100"$
(100 and 107721 are the minimum and maximum values of Per Capita Gross National Income in US $).
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