Human Capital Formation in India test - 11

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Human Capital Formation in India test - 11
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  • Question 1
    1 / -0
    What are the various forms of health expenditures as an important source of human capital formation?
    Solution
    The various forms of health expenditures are preventive medicine, curative medicine, social medicine. Preventive medicine is for prevention of a particular disease, Curative medicine/care is expenditure for curing an existing disease, and social medicine/care to create awareness among people about diseases, its care, reasons of their occurrence etc.
    Hence, D is the correct option.
  • Question 2
    1 / -0
    Which of the following highlights the importance of human capital formation?
    Solution
    Human capital formation helps in accelerating economic growth as by investing in human capital necessary skills are given to the workforce to increase productivity. Human capital helps in utilisation of physical capital and ensures social change in desired direction.  
    Hence, C is the correct option.
  • Question 3
    1 / -0
    Migration involves cost of transport, higher cost of living in the migrated places and psychic costs of living in a strange sociocultural setup. Then how is it a source of human capital formation?
    Solution
    Migration is a source of human capital even though there are a lot of costs involved like cost of transport, higher living cost etc. But the income earned is more than the cost and hence, its a source of human capital. 
    Hence, C is the correct option.
  • Question 4
    1 / -0
    What is the main source of human capital?
    Solution
    The main source of human capital is investment in education. People invest in education to provide knowledge to their kids and also expect future returns.
  • Question 5
    1 / -0
    Which of the following are sources of human capital?
    Solution
    Human capital is the stock of knowledge, skills and abilities etc. Migration, Information, education and investment in health are sources of human capital. Migration brings in more people from one area to another thereby increasing human capital, investment in health improves the quality of work put in by the workforce thereby improving their abilities and productivity and information enhances knowledge and skills. 
    Hence, D is the correct option.
  • Question 6
    1 / -0
    Very often we read in newspapers/magazines about 'Sovereign Wealth Funds'. Which of the following is/are the correct description of the same?
    A. These are the funds or the reserves of a government or central bank of a country which are invested further to earn profitable returns.
    B. These are the funds which were accumulated by some people over the years but were not put in active circulation as they retain them as black money for several years.
    C. The funds which are created to be used as relief funds or bailout packages.
    Solution
    Only statement A is correct. Sovereign wealth Funds is a state government owned investment fund. Money is invested in bonds, real estate, precious metals, stocks etc. Money is invested to earn profit they are not created for the sole purpose of welfare. 
  • Question 7
    1 / -0
    Which fundamental right was introduced in the 86th Amendment of the Constitution of India?
    Solution
    Sarva shiksha abhiyan is an Indian government initiative  introduced in the 86th Amendment of the constitution of India of making free and compulsory education to children between the age of 6-14 years of age as a fundamental right. 
  • Question 8
    1 / -0
    The percentage of education expenditure of GDP expresses _____.
    Solution
    Education expenditure is expressed as a percentage of total government expenditure/total government expenditure. It is expressed as how much of the total income is being committed to the development of education in the country. 
    GDP is a monetary measure of the market value of goods and services produced over the year in the country or the total expenditure on goods and services over the year or government expenditure. 
    Hence, B is the correct option.
  • Question 9
    1 / -0
    The per capita education expenditure is lowest in _______ state of India. 
    Solution
    Per capita education expenditure is the amount of expenditure done on education during the year. State of Bihar has the lowest per capita income. 
  • Question 10
    1 / -0
    The percentage of education expenditure of total government expenditure indicates _______.
    Solution
    The percentage of education expenditure of total government indicates importance of education in the scheme of things before the government. Percentage of education expenditure of total expenditure shows how much of the total expenditure has the government done on education thereby showing its importance. 
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