The 'multidimensional poverty index' considers how many equally weighted dimensions? MCQ with Answer and Explanation

Question
The 'multidimensional poverty index' considers how many equally weighted dimensions?
A. Ten
B. Three
C. Two
D. Five
Answer: Option B
Solution (By JKSSB Mock Tests)
MPI has three equally weighted dimensions: health, education and standard of living.
This question belongs to: Economy GK Economy Set 1
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Question #1
The 'National Anti-profiteering Authority' was later replaced by which body under GST?
A. Competition Commission of India
B. Central Board of Indirect Taxes and Customs
C. GST Appellate Tribunal
D. GST Council
Discuss
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Correct Answer: Option A

Explanation:
The NAA's functions were transferred to the Competition Commission of India.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a major challenge for monetary policy in an open economy?
A. Absence of any trade-off
B. Impossible trinity or trilemma of fixed exchange rate, free capital flows and independent monetary policy
C. No impact of capital flows
D. Complete control over all three objectives simultaneously
Discuss
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Correct Answer: Option B

Explanation:
The impossible trinity states that it is impossible to have a fixed exchange rate, free capital mobility and an independent monetary policy simultaneously; only two of the three can be achieved.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a feature of the Mahalanobis model used in Indian planning?
A. Emphasis on agriculture and consumer goods
B. Focus on export-led growth only
C. Complete reliance on private sector investment
D. Emphasis on heavy industries and capital goods sector
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Correct Answer: Option D

Explanation:
The Mahalanobis model, used in the Second Five Year Plan, stressed the development of heavy and capital goods industries to build a strong industrial base.
This question belongs to: Economy GK Economy Set 1
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