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

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The 'Human Development Index' was introduced by:

A. UNESCO

B. IMF

C. World Bank

D. UNDP in 1990

Answer: Option D

Solution (By JKSSB Mock Tests)

The Human Development Index was introduced by UNDP in 1990.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The Fifteenth Finance Commission was headed by:

A. Vijay Kelkar

B. C. Rangarajan

C. Y.V. Reddy

D. N.K. Singh

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Correct Answer: Option D

Explanation:
The Fifteenth Finance Commission was headed by N.K. Singh.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the Classical model of the economy?

A. Flexible wages and prices ensuring continuous full employment

B. Possibility of liquidity trap

C. Importance of aggregate demand in determining output

D. Sticky wages and prices

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Correct Answer: Option A

Explanation:
The Classical model assumes flexible wages and prices that adjust continuously to maintain full employment equilibrium.

This question belongs to: Economy GK Economy Set 1

Question #3

Under perfect competition, the profit-maximizing condition for a firm is:

A. MR = MC and MC is rising

B. MR is maximum

C. P = AC

D. TR is maximum

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Correct Answer: Option A

Explanation:
A perfectly competitive firm maximizes profit where marginal revenue equals marginal cost and MC is rising.

This question belongs to: Economy GK Economy Set 1

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