Which of the following is used to measure multidimensional poverty? MCQ with Answer and Explanation

Question
Which of the following is used to measure multidimensional poverty?
A. Headcount ratio based only on income
B. Multidimensional Poverty Index (MPI)
C. Lorenz curve
D. Gini coefficient
Answer: Option B
Solution (By JKSSB Mock Tests)
The Multidimensional Poverty Index, developed by UNDP and OPHI, captures deprivations in health, education and living standards beyond income poverty.
This question belongs to: Economy GK Economy Set 1
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Question #1
The 'Goods and Services Tax' on petroleum products is:
A. 18%
B. not levied currently
C. 12%
D. 5%
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Correct Answer: Option B

Explanation:
Petroleum crude, petrol, diesel, natural gas and ATF are currently outside GST.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'Goods and Services Tax' was first proposed in India by which committee?
A. Narasimham Committee
B. Gadgil Committee
C. Rangarajan Committee
D. Chelliah Committee
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Correct Answer: Option D

Explanation:
The Chelliah Committee first recommended GST in India.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a feature of the 'Wealth Inequality' literature associated with Piketty?
A. When the rate of return on capital exceeds the growth rate of the economy, wealth inequality tends to rise
B. Only labour income inequality matters
C. Capital accumulation always reduces inequality
D. Wealth inequality always declines with development
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Correct Answer: Option A

Explanation:
Piketty’s central argument is that when the rate of return on capital (r) systematically exceeds the growth rate of the economy (g), the share of capital in national income and the concentration of wealth tend to increase.
This question belongs to: Economy GK Economy Set 1
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