Prelims-IAS –ECONOMICS MCQ-02

1..Consider the following regarding HDI:

It was first developed by Mahbub Ul Haq in an attempt to define and measure the levels of development.
It is released by the United Nations Development Programme (UNDP) in the Human Development Report (HDR).
It is measured on a scale of 0 to 1.
It categorises the countries of the world in three categories based on their HDI score.

Select the correct answer from the codes given below:
(a) 1 and 2 only
(b) 1, 2 and 3 only
(c) 3 and 4 only
(d) All of the above

2..Which of the following are calculated in the Education Index of HDI?

Select the correct answer using code given below.
(a) 1 and 2 only
(b) 3 only
(c) 2 and 3 only
(d) 1, 2 and 3

3..Which of the following statements refers to Green GDP?

Conventional GDP figures adjusted for the environmental costs of economic activities.
Growth of Green Investments in economy.
Monetary value of the resources like forests, land and all the economic services provided by them.
Accounts showing the monetized loss of biodiversity, costs caused by climate change.

Select the correct answer using the code given below.
(a) 1 only
(b) 1 and 3 only

(d) 1, 3 and 4 only

4..With reference to the recent base year revision released in January 2015, which of the following statements is/are the correct changes?

Headline growth rate will now be measured by GDP at constant market prices instead of GDP at factor cost.
Sector-wise estimates of gross value added (GVA) in manufacturing will now be given at basic prices instead of factor cost.

Select correct answer using codes given below.
(a) 1 only
(b) 2 only

(d) Neither 1 nor 2

5..Nominal GDP differs from Real GDP because:

(a) Nominal GDP is measured using a market basket of all goods and services, while real GDP uses a market basket of consumer goods and services.

(b) Nominal GDP is measured on the basis of current year prices, while the Real GDP is measured on the basis of constant-base year prices.

(c) Nominal GDP includes the output of both goods and services, while real GDP includes only the output of tangible goods.

(d) Nominal GDP includes only goods and services with market prices, while real GDP includes estimates of the value of all goods and services.

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