The 'corruption perception index' is published by: MCQ with Answer and Explanation

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The 'corruption perception index' is published by:

A. World Bank

B. WEF

C. IMF

D. Transparency International

Answer: Option D

Solution (By JKSSB Mock Tests)

Transparency International publishes the Corruption Perceptions Index.

This question belongs to: Economy GK Economy Set 1

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Question #1

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According to the law of diminishing marginal utility, as a consumer increases consumption of a commodity, the marginal utility derived from each additional unit:

A. eventually declines

B. first declines then increases

C. increases continuously

D. remains constant

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Correct Answer: Option A

Explanation:
The law of diminishing marginal utility states that as more units are consumed, the additional satisfaction from each extra unit eventually decreases.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a characteristic of the short-run production function?

A. No diminishing returns possible

B. Returns to scale are the only relevant concept

C. At least one factor is fixed

D. All factors are variable

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Correct Answer: Option C

Explanation:
In the short run, at least one factor of production is fixed, and the law of variable proportions operates.

This question belongs to: Economy GK Economy Set 1

Question #3

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

A. Life expectancy, education and per capita income

B. Only subjective well-being

C. Only income and inequality

D. Only environmental sustainability

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Correct Answer: Option A

Explanation:
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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