Human Capital Formation in India test

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Human Capital Formation in India test - 13

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Weekly Quiz Competition

Question 1
1 / -0

New Policy on Education aims at expenditure on education as ______% of GDP.

A
4

B
6

C
3

D
10

Solution

New policy on Education aims at expenditure on education as 6% of GDP. This shows the importance given by the government to education sector.
Question 2
1 / -0

During presidential election campaigns, candidates often promise both more "gun" and more "butter" if they are elected. Assuming unemployment is not a problem, what possible assumption are they making but not revealing to their audience?

A
There will be a sufficient increase in the supply of natural resources used to produce "guns" and "butter".

B
That there will be an improvement in the technology of both "gun" and "butter" production.

C
That there will be an increase in the labour force.

D
All of the above

Solution

Both 'gun' or butter can be produced by increase in supply of natural resource improvement of technology and increase in labour force.
Question 3
1 / -0

HDI Stands for ____________.

A
High Degree of Independence

B
Highly Developed Individual

C
Human Development Index

D
Harmonised Development Index
Question 4
1 / -0

A system of economy in which all means of production are owned and controlled by private individuals for the purpose of profit is called ___________.

A
Socialistic economy

B
Capitalistic economy

C
Mixed economy

D
All of the above

Solution

A system of economy in which all means of production are owned and controlled by private individuals for the purpose of profit is called capitalist economy. It is a decentralised form of economy where there is no government control.
Question 5
1 / -0

The economic analysis expects the consumer to behave in a _____ manner.

A
rational

B
irrational

C
emotional

D
indifferent

Solution

The economic analysis expects the consumer to behave in a rational manner.

In an ideal world, people would always make optimal decisions that provide them with the greatest benefit and satisfaction. In economics, rational choice theory states that when humans are presented with various options under the conditions of scarcity, they would choose the option that maximizes their individual satisfaction.
This theory assumes that people, given their preferences and constraints, are capable of making rational decisions by effectively weighing the costs and benefits of each option available to them. The final decision made will be the best choice for the individual. The rational person has self-control and is unmoved by emotions and external factors and, hence, knows what is best for himself.
Question 6
1 / -0

Which of the following is used in measurement of HDI?

A
Longevity of Life

B
Knowledge

C
Standard of Living

D
All of the above
Question 7
1 / -0

Provision of finance for agriculture is now handled by ____________.

A
Export-Import Bank of India (ECM Bank)

B
Small Industries Development Bank of India (SIDBI)

C
Reserve Bank of India (RBI)

D
National Bank for Agriculture and Rural Development (NABARD)

Solution

National Bank for Agriculture and Rural Development(NABARD) is an apex development financial institution in India which provides financial inclusion to all the required farmers, looks after rural development plans and financial support the regional growth of backward areas of the economy.
Question 8
1 / -0

According to the Empiricists, to include Financial Asset under the purview of Abney, which of the following condition should be satisfied?

A
Stability of demand function

B
High degree of substitutability

C
Feasibility of measuring statistical variations in real economic factors.

D
All of the above

Solution

If a financial asset is to be considered as a market product then it should be demanded with stable supply where its substitute must hold good in the market.
Question 9
1 / -0

The objective of economic and social development is to ______________.

A
Make people productive assets

B
Provide opportunities for people to grow

C
Improve the quality of life people live

D
All of the above

Solution

All the economic activities aims at enhancing the way of living of all the individuals in the society as it makes every individual self-reliant i.e. productive assets and help them to grow by providing various opportunities in the way of numerous jobs that improves the quality of life of an individual.
Question 10
1 / -0

"Resources" refer to.

A
Unproductive Resources

B
Productive Resources

C
Money only

D
None of the above

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Re-Attempt Weekly Quiz Competition

Human Capital Formation in India test - 13

Result

Human Capital Formation in India test - 13

Score

-

Rank

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SHARING IS CARING

Question 1

4

6

3

10

Solution

Question 2

There will be a sufficient increase in the supply of natural resources used to produce "guns" and "butter".

That there will be an improvement in the technology of both "gun" and "butter" production.

That there will be an increase in the labour force.

All of the above

Solution

Question 3

High Degree of Independence

Highly Developed Individual

Human Development Index

Harmonised Development Index

Question 4

Socialistic economy

Capitalistic economy

Mixed economy

All of the above

Solution

Question 5

rational

irrational

emotional

indifferent

Solution

Question 6

Longevity of Life

Knowledge

Standard of Living

All of the above

Question 7

Export-Import Bank of India (ECM Bank)

Small Industries Development Bank of India (SIDBI)

Reserve Bank of India (RBI)

National Bank for Agriculture and Rural Development (NABARD)

Solution

Question 8

Stability of demand function

High degree of substitutability

Feasibility of measuring statistical variations in real economic factors.

All of the above

Solution

Question 9

Make people productive assets

Provide opportunities for people to grow

Improve the quality of life people live

All of the above

Solution

Question 10

Unproductive Resources

Productive Resources

Money only

None of the above

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My Perfomance

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