Which of the following is a component of the Human Development Index?
A. Gender equality only
B. Only income inequality
C. Only environmental sustainability
D. Life expectancy, education and per capita income
Answer: Option D
Solution (By JKSSB Mock Tests)
HDI is a composite index based on three dimensions: a long and healthy life (life expectancy), knowledge (education) and a decent standard of living (GNI per capita).
Explanation:
The New Keynesian Phillips Curve is derived from models with staggered price setting and rational expectations, linking current inflation to expected future inflation and the output gap or marginal cost.
Explanation:
Education is often classified as a quasi-public (or merit) good because it is partially excludable and rivalrous but generates significant positive externalities, justifying public provision.
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