In the context of measuring progress beyond GDP, the 'Human Development Index' combines indicators of: MCQ with Answer and Explanation

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In the context of measuring progress beyond GDP, the 'Human Development Index' combines indicators of:

A. Only environmental sustainability

B. Life expectancy, education and per capita income

C. Only subjective well-being

D. Only income and inequality

Answer: Option B

Solution (By JKSSB Mock Tests)

The Human Development Index is a composite index of three basic dimensions of human development: a long and healthy life (life expectancy), knowledge (education) and a decent standard of living (GNI per capita).

This question belongs to: Economy GK Economy Set 1

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Question #1

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The concept of 'Crowding Out' can occur through which of the following channels?

A. Higher interest rates reducing private investment and appreciation of the currency reducing net exports

B. Only through increased private consumption

C. Only through increased net exports

D. Only through lower interest rates

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Correct Answer: Option A

Explanation:
Government borrowing can raise interest rates (financial crowding out) and, in an open economy, appreciate the currency, thereby reducing net exports (international crowding out).

This question belongs to: Economy GK Economy Set 1