The Multidimensional Poverty Index used by NITI Aayog includes which dimensions? MCQ with Answer and Explanation

Question
The Multidimensional Poverty Index used by NITI Aayog includes which dimensions?
A. Employment and wages
B. Agriculture and industry
C. Health, education and standard of living
D. Income and wealth
Answer: Option C
Solution (By JKSSB Mock Tests)
The MPI has three dimensions: health, education and standard of living.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
In the context of monetary policy, 'Forward Guidance' refers to:
A. Only reserve requirements
B. Only changes in the current policy rate
C. Only quantitative easing
D. Communication by the central bank about the likely future path of policy rates
Discuss
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Correct Answer: Option D

Explanation:
Forward guidance is a policy tool in which the central bank communicates its intentions regarding the future path of the policy rate or other policy instruments in order to influence longer-term rates and expectations.
This question belongs to: Economy GK Economy Set 1
Question #2
A consumer consuming a single commodity attains equilibrium when:
A. Px is greater than MUx
B. TU is rising
C. MU of the commodity is zero
D. MUx divided by Px equals marginal utility of money
Discuss
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Correct Answer: Option D

Explanation:
For one commodity, consumer equilibrium occurs when MUx/Px equals the marginal utility of money.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is NOT a component of the Index of Industrial Production (IIP) in India?
A. Manufacturing
B. Agriculture
C. Electricity
D. Mining
Discuss
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Correct Answer: Option B

Explanation:
The IIP covers mining, manufacturing and electricity sectors. Agriculture is measured separately through other indices and production estimates.
This question belongs to: Economy GK Economy Set 1
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