Measurement of Development & HDI MCQ — 145 Practice Questions with Answers

Explanation

The current base year for India's GDP series is 2011-12 (adopted in January 2015). India uses GVA (Gross Value Added) at basic prices as the primary measure, while GDP at market prices is also published.

Explanation

Statements 1, 2 and 4 are correct. Statement 3 is incorrect because WPI is compiled by the Office of Economic Adviser under DPIIT, not by RBI.

Explanation

Statement 1 is correct: IHDI discounts HDI dimensions for inequality in their distribution. Statement 2 is incorrect because IHDI equals HDI when there is no inequality, and falls below HDI as inequality rises. Statement 3 is correct because MPI covers deprivations in health, education and standard of living. Statement 4 is correct because the MPI headcount identifies people deprived in at least one third of the weighted indicators.

Explanation

Demographic dividend occurs when the proportion of working-age population (15-64 years) is larger than non-working age. India's demographic dividend window is expected to last until 2055-56. Economic Survey regularly discusses leveraging this through skilling.

Explanation

Statement 1 is correct: UNDP defines HDI as a summary measure of achievement in key dimensions of human development. Statement 2 is incorrect: HDI uses the geometric mean, not the arithmetic mean, of normalized dimension indices. Statement 3 is correct: the health dimension is assessed by life expectancy at birth.