Economics

National Income and Poverty Measurement

1,142 Questions

National income and poverty measurement involves calculating economic indicators like GDP, the Gini coefficient, and the Human Development Index. These metrics help gauge economic health, inequality, and poverty levels within a country. Practice these economics questions to understand the statistical methods used in macroeconomic analysis.

GDP calculationEconomic inequality indicesPoverty line conceptsNational income methods

National Income and Poverty Measurement Questions

Multiple choice economics dynamic of human development development indices various development indexes social development

In order to measure the inequalities of income and wealth ______ index is used.

  1. GINI

  2. Dolor

  3. NASDAQ

  4. None
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In order to measure the inequalities of income and wealth GINI index is used. GINI coefficient or GINI Index was developed by an Italian scientist, Corrado Gini in the year of 1912. GINI Index can be defined as a method of statistical dispersion which is used to measure inequalities of income and wealth.

Multiple choice economics dynamic of human development development indices various development indexes social development

_______ is not an indicator of Human Development index.

  1. Life expectancy at birth

  2. Physical endurance

  3. GNP per capita

  4. Mean years of school
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Physical endurance is not a dimension of Human Development Index. HDI stands for Human Development Index. It can be defined as a statistic composite index of human development indicators, like, life expectancy, education, per capita income, etc. HDI helps to rank countries.

Multiple choice economics dynamic of human development development indices various development indexes social development

GINI index represent ______ perfectly inequality in distribution of income.

  1. 0

  2. 1

  3. 0.5

  4. 0.25
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

GINI index represent 1 perfectly inequality in distribution of income. GINI coefficient or GINI Index is developed by an Italian statistician, Corrado Gini. It can be defined as a statistical dispersion used to measure the inequality of wealth and income.

Multiple choice economics dynamic of human development development indices various development indexes social development

GINI index is measure of __________.

  1. increasing trend in national income

  2. sectoral classification

  3. degree of inequality in distribution of income and wealth

  4. per capita income by person resident in India
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

GINI Index is measure of degree of inequality in distribution of income and wealth. GINI coefficient or GINI Index is developed by an Italian statistician, Corrado Gini in the year of 1912. It is the most commonly used statistical method for measuring inequality of income and wealth.

Multiple choice economics dynamic of human development development indices various development indexes social development

Which of the following is used in the calculation of the HDI?

(I) Longevity of life 
(J) Knowledge 
(K) Standard of living. 

  1. (I)

  2. (J)

  3. (K)

  4. All
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
Calculation of HDI includes:
a) Longevity of life
b) Knowledge
c) Standard of living
HDI stands for Human Development Index. It can be defined as a statistic composite index of human development indicators, like, life expectancy, education, per capita income, etc. HDI helps to rank countries.
Multiple choice economics dynamic of human development development indices various development indexes social development

HDI composes of human development indicator's:
(i) Longevity
(ii) Level of knowledge
(iii) Standard of living
(iv) Per capita income

  1. (i) only

  2. (i) and (ii)

  3. (i), (ii) and (iv)

  4. (i), (ii), (iii) and (iv)
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

HDI composes of human development indicator's:
(i) Longevity
(ii) Level of knowledge
(iii) Percapita incomeHDI stands for Human Development Index. It can be defined as a statistic composite index of human development indicators, like, life expectancy, education, per capita income, etc. HDI helps to rank countries.

Multiple choice economics dynamic of human development development indices various development indexes social development

Human well being is measured by _______.

  1. Consumer Price Index (CPI)

  2. Human Resource Index (HRI)

  3. Human Development Index (HDI)

  4. Human Socio-benefit Index
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Human well being is measured by Human Development Index. It was developed by United Nation Development Programme( UNDP)HDI stands for Human Development Index. It can be defined as a statistic composite index of human development indicators, like, life expectancy, education, per capita income, etc. HDI helps to rank countries.

Multiple choice maths frequency distribution tables and graphs introduction to statistics introduction to statistical method and econometrics partition values

Which of the following operations is conducted after a gap of every ten years?

  1. Economic survey

  2. Estimates of Foreign Direct Investment (FDI)

  3. Compilation of Human Development Report

  4. General Census
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

General census is official counting of a region's or nation's people and compilation of economics , social and other data usually for formulation of development policies and plans etc.

General census is an operation which is conducted after a gap of every ten years .

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

Net factor income from abroad is ________________.

  1. Exports minus Imports

  2. Visible Exports minus Visible Imports

  3. Factor income received from abroad minus factor income paid abroad

  4. Factor incomes received from abroad
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
Net factor income from abroad is factor income received from abroad minus factor incomes paid abroad.
Equation:
Net factor income from abroad= Factor income earned by our residents from the rest of the world - Factor income earned by non- residents in our domestic territory.
Multiple choice social science employment: growth, informalisation and other issues employment - trends and structure workers and employment sources of income

Worker-population ratio is useful in ________.

  1. knowing the proportion of the population that is actively contributing to the production of goods and services of a country

  2. estimating national income

  3. estimating GDP

  4. knowing the number of people employed
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
Worker-population ratio is useful in knowing the proportion of population that is actively contributing to the production of goods and services of a country.  Employment situation does not help in calculating National income or GDP.
Multiple choice economics poverty as a challenge programmes for poverty eradication poverty : challenge facing india poverty: an economic challenge for india constraints in economic development of rajasthan

The concept of _________ is used in India to measure the extent of poverty in India.

  1. income poverty

  2. poverty line

  3. poverty scale

  4. poverty standard
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The poverty line is the official threshold used in India to identify the population living in poverty based on consumption or income levels.

Multiple choice economics development experience (1947-90) development indices various development indexes dynamic of human development

Standard of living is measured by __________.

  1. HDI

  2. FDI

  3. FBI

  4. CBI
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A standard of living is the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class or a certain geographic area. The standard of living includes factors such as income, gross domestic product, national economic growth, economic and political stability, political and religious freedom, environmental quality, climate, and safety. The standard of living is closely related to quality of life.It is measured by HDI.

Multiple choice economics dynamic of human development development indices various development indexes social development

Which of the following is not a component of Human Development Index?

  1. Per Capita Income

  2. Life Expectancy Rate

  3. Literacy Rate

  4. Poverty Rate
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Human Development Index is an important component in the Human Development Report. Per Capita Income is an important component of HDI. It is the average income of a country. Also, life expectancy at birth which is the expected length of life at the time of birth is an important component. Moreover, the literacy rate for 15+ years of the population is useful in HDI.

Thus, the correct answer is D.

Multiple choice economics dynamic of human development development indices various development indexes social development

Human Development Index is a composite of _________.

  1. income, trade and investment indicators

  2. poverty, human rights and unemployment indicators

  3. income, health and education indicators

  4. health, education and quality of life indicators
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The Human Development Index (HDI) is a composite statistic of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development.

Multiple choice geography international development international development and world population and its impact on resources population growth and impact on resources reproductive health in humans

During the year $2013$, the real gross domestic product of a country increased by $8\%$ over the preceding year. During this year population of the country also got increased by $1.6\%$. In that particular country, the rate of growth of per capita income during $2013$ would be: 

  1. $6.4%$
  2. $9.6\%$
  3. $5.0\%$
  4. $12.8\%$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The growth rate of per capita income is approximately equal to the growth rate of real GDP minus the growth rate of the population. Here, real GDP increased by 8% and population increased by 1.6%. Subtracting the two gives 8% - 1.6% = 6.4%.