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Total Questions : 150 | Page 12 of 15 pages
Question 111. In India, National Income is computed by which of the following
  1.    Ministry of Finance
  2.    Planning Commission
  3.    Reserve Bank of India
  4.    Central Statistical Organisation
 Discuss Question
Answer: Option D. -> Central Statistical Organisation
Answer: (d)
Question 112. Which of the following can aid in furthering the Government’s objective of inclusive growth?

  1. promoting self help group

  2. promoting micro, small and medium Enterprises

  3. Implementing the Right to Education Act


Select the correct answer using the codes given below :
  1.    1 and 2 only
  2.    1 only
  3.    2 and 3 only
  4.    1, 2 and 3
 Discuss Question
Answer: Option D. -> 1, 2 and 3
Answer: (d)
The Government's objective of inclusive growth can be furthered by promoting self-help groups, promoting micro, small and medium enterprises and implementing the right to education.
This will improve employment opportunities, increase GDP etc.
Question 113. Which one of the following states was having the highest Human Development Index in the year 2012?
  1.    Kerala
  2.    Assam
  3.    Uttar Pradesh
  4.    Madhya Pradesh
 Discuss Question
Answer: Option A. -> Kerala
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 114. Human Development Index (HDI) is constructed with reference to
  1. Life expectancy at birth, real GDP per capita, gross enrolment ratio, adult literacy rate.
  2. Life expectancy at birth, real GDP per capita, combined gross enrolment ratio, adult literacy rate.
  3. Life expectancy, GDP per capita, infant mortality rate, literacy rate.
  4. GDP per capita, infant mortality rate, literacy rate
Codes:
  1.    1 and 3
  2.    1 and 2
  3.    3 only
  4.    1, 2 and 4
 Discuss Question
Answer: Option B. -> 1 and 2
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 $).
Question 115. Which of the following is a sign of economic growth?
  1.    A sustained increase in real per capita income
  2.    An increase in national income at constant prices during a year
  3.    An increase in national income along with increase in population
  4.    An increase in national income at current prices overtime
 Discuss Question
Answer: Option A. -> A sustained increase in real per capita income
Answer: (a)
Question 116. Which sector of the Indian economy contributes largest to the GDP?
  1.    Secondary sector
  2.    Primary sector
  3.    Tertiary sector
  4.    Public sector
 Discuss Question
Answer: Option C. -> Tertiary sector
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.
Question 117. Which one of the following is related with the Atkinson’s index of an economy ?
  1.    An effect of supply demand mismatch
  2.    A method to determine the income inequality
  3.    A method to determine the unemployment
  4.    None of the above
 Discuss Question
Answer: Option B. -> A method to determine the income inequality
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 118. Which one of the following publishes the ‘Global Competitiveness Index’ report?
  1.    IMF
  2.    UNDP
  3.    WTO
  4.    World Economic Forum
 Discuss Question
Answer: Option D. -> World Economic Forum
Answer: (d)
Question 119. National Income is the
  1.    Net National Product at factor cost
  2.    Net National Product at market price
  3.    Net Domestic Product at factor cost
  4.    Net Domestic Product at market price
 Discuss Question
Answer: Option A. -> Net National Product at factor cost
Answer: (a)
Question 120. National Income is the
  1.    NNP at factor cost
  2.    NNP at market price
  3.    Net Domestic product at market price
  4.    Net domestic product at factor cost.
 Discuss Question
Answer: Option A. -> NNP at factor cost
Answer: (a)National Income is the Net National product at the factor cost.

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