The 'Human Development Index' was introduced by: MCQ with Answer and Explanation

The 'Human Development Index' was introduced by:
A. UNESCO
B. UNDP in 1990
C. World Bank
D. IMF
Answer: Option B
Solution (By JKSSB Mock Tests)
The Human Development Index was introduced by UNDP in 1990.

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Practice More Economy Set 1 Questions

Question #1
The concept of 'Inter-temporal Choice' in economics deals with:
A. Choice between different goods at the same time
B. Choice between imports and exports
C. Choice between present and future consumption
D. Choice between leisure and work only

Correct Answer: Option C


Explanation:
Inter-temporal choice refers to decisions involving trade-offs among costs and benefits occurring at different points in time, such as saving versus present consumption.

This question belongs to: Economy GK Economy Set 1
Question #2
In the context of monetary economics, the 'Money Multiplier' is:
A. The ratio of fiscal deficit to GDP
B. The ratio of broad money to reserve money
C. The ratio of exports to imports
D. The ratio of investment to saving

Correct Answer: Option B


Explanation:
The money multiplier is the ratio of the stock of broad money (such as M3) to the stock of reserve money, reflecting the extent of credit creation by the banking system.

This question belongs to: Economy GK Economy Set 1
Question #3
The Fiscal Responsibility and Budget Management Act was enacted in which year?
A. 2003
B. 2005
C. 1999
D. 2001

Correct Answer: Option A


Explanation:
The FRBM Act was enacted in 2003.

This question belongs to: Economy GK Economy Set 1