Growth Development and Happiness

Q1.Consider the following statements regarding Economic Growth and Economic Development: 1. Economic growth is considered more relevant for measuring progress in Developing Countries, whereas economic development is more relevant for Developed Countries. 2. The scope of economic development is narrow, focusing primarily on quantitative aspects like GDP and GNP. 3. Economic growth is a long-term process, while economic development is typically measured over a specific, short time period. How many of the above statements are correct?

Q2.Consider the following statements: Statement-I: According to Amartya Sen, the achievement of development is thoroughly dependent on the free agency of people. Statement-II: Sen posits that the assessment of a country's progress should be done primarily in terms of whether the freedoms that people have, such as political freedoms and social opportunities, are enhanced. Which one of the following is correct in respect of the above statements?

Q3.With reference to the Composite Development Index proposed by the Raghuram Rajan Committee, consider the following sub-components: 1. Poverty rate 2. Female literacy 3. Level of corruption 4. Financial inclusion How many of the above were included as sub-components in the proposed index?

Q4.Consider the following statements regarding Inclusive Growth: 1. A key feature of inclusive growth is the prioritization of the industrial and service sectors over the agricultural sector to achieve faster economic expansion. 2. The trickle-down approach is considered fundamentally incompatible with and is therefore excluded from the strategies for achieving inclusive growth. 3. Inclusive growth is expected to have a lower elasticity of poverty reduction compared to standard economic growth as it focuses on equity over speed. How many of the above statements are correct?

Q5.Consider the following statements: Statement-I: The Inclusive Development Index (IDI) measures a country's progress across three main pillars: growth and development, inclusion, and inter-generational equity. Statement-II: The NITI Aayog publishes the Inclusive Development Index annually, which has helped India significantly improve its ranking among emerging economies. Which one of the following is correct in respect of the above statements?

Q6.With reference to various development indices, consider the following statements: 1. The Global Gender Gap Report, which evaluates the status of gender parity, is published annually by the United Nations Development Programme (UNDP). 2. The Gender Inequality Index (GII) uses reproductive health as one of its dimensions for evaluation. 3. Political Empowerment is one of the key dimensions used in the calculation of the Gender Inequality Index (GII). How many of the above statements are correct?

Q7.Consider the following statements regarding the Human Development Index (HDI): 1. The HDI is calculated as the geometric mean of normalised indices for three dimensions: a long and healthy life, knowledge, and a decent standard of living. 2. The Planetary Pressures-adjusted HDI (PHDI) was introduced to adjust the HDI value by incorporating inequality as a fourth dimension. 3. Expected Years of Schooling and Mean Years of Schooling are the two indicators used to measure the 'Decent Standard of Living' dimension. How many of the above statements are correct?

Q8.Consider the following statements: Statement-I: According to the Human Development Report 2023-2024, India's Gender Development Index (GDI) value of 0.852 indicates a disparity in human development achievements, with females lagging behind males. Statement-II: The GDI is calculated as the ratio of female HDI to male HDI, and a value less than 1 signifies that the HDI for females is lower than the HDI for males. Which one of the following is correct in respect of the above statements?

Q9.With reference to different paradigms of measuring well-being, consider the following statements: 1. 'Good governance' is one of the six key variables used for ranking countries in the World Happiness Report. 2. The World Happiness Report rankings consider GDP per capita in terms of Purchasing Power Parity (PPP). 3. The Gross National Happiness (GNH) Index is based on four pillars, one of which is 'Cultural preservation'. How many of the above statements are correct?

Q10.Consider the following statements: Statement-I: The World Happiness Report is an annual publication by the United Nations Sustainable Development Solutions Network. Statement-II: The United Nations recognizes the pursuit of happiness as a fundamental human goal and initiated the International Day of Happiness. Which one of the following is correct in respect of the above statements?

Q11.With reference to the classification of countries, consider the following statements: 1. According to the World Bank, a country with a per capita income of $1,000 is classified as a 'Low middle income' country. 2. 'Least Developed Countries' (LDCs) are typically characterized by their thriving service sectors or focus on mass production. 3. A sovereign state with a developed economy and advanced technological infrastructure relative to other less industrialised nations is defined as a 'Developed Country'. How many of the above statements are correct?

Q12.Consider the following statements regarding various indices and initiatives related to well-being: 1. The Physical Quality of Life Index (PQLI) includes 'Civic Engagement' and 'Work-Life Balance' as two of its key components. 2. Madhya Pradesh became the first state in India to establish a 'Happiness Department', which works as a knowledge resource center modeled on Bhutan's approach. 3. The Delhi government's 'Happiness Curriculum' and Andhra Pradesh's 'Happiness Department' were both launched in the same year. How many of the above statements are correct?

Q13.With reference to the concept of inclusive economic growth in India, consider the following statements: 1. The Lorenz Curve is a graphical representation of the distribution of income or wealth. 2. The Financial Inclusion Index (FI-Index) is published annually by the NITI Aayog. 3. Pradhan Mantri MUDRA Yojana (PMMY) provides refinancing support to banks and Micro-Finance Institutions for on-lending to micro-enterprises. Which of the statements given above is/are correct?

Q14.Consider the following statements regarding key concepts in development economics: 1. Endogenous growth theory suggests that investment in human capital is subject to diminishing marginal returns. 2. The Kuznets curve hypothesizes that as an economy develops, market forces first increase and then decrease economic inequality. 3. A rising dependency ratio typically enhances the potential for a demographic dividend in a country. How many of the above statements are correct?

Q15.Consider the following statements regarding government expenditure and inclusive growth: Statement-I: Government expenditure on social services like health and education is crucial for fostering inclusive growth. Statement-II: In government budgeting, such expenditures are classified as Capital Expenditure as they build long-term human capital.