-
question_answer1)
Direction: Q 1 to 5 |
Read the given case study and answer the questions. |
Both the forms of capital formation are the outcomes of conscious investment decisions. |
Decision regarding investment in physical capital is taken on the basis of one's knowledge in this regard. The entrepreneur possesses knowledge to calculate the expected rates of return to a range of investments and then rationally decides which one of the investments should be made. The ownership of physical capital is the outcome of the conscious decision of the owner - the physical capital formation is mainly an economic and technical process. |
Human capital formation takes place in one's life when she/he is unable to decide whether it would maximise her/his earnings. Children are given different types of school education and health care facilities by their parents and the society. Moreover, the human capital formation at this stage is dependent upon the already formed human capital at the school level. Human capital formation is partly a social process and partly a conscious decision of the possessor of the human capital. |
Which of the following does not correctly differentiate between the physical and human capital?
A)
Human capital is intangible whereas physical capital is tangible done
clear
B)
Human capital can cope up with the changing technology whereas physical capital cannot. done
clear
C)
Human capital generates both personal and societal benefits whereas physical capital generates only personal benefit. done
clear
D)
Human capital gets obsolete with time whereas physical capital does not done
clear
View Solution play_arrow
-
question_answer2)
In the context of the paragraph, it can be argued that human capital depreciates faster than the physical capital. The given statement is:
A)
True done
clear
B)
False done
clear
C)
Partially true done
clear
D)
Can't comment due to lack of proper estimation mechanism done
clear
View Solution play_arrow
-
question_answer3)
Machines and industrial tools are examples of ......... .
A)
physical capital done
clear
B)
human capital done
clear
C)
Both physical and human capital done
clear
D)
natural capital done
clear
View Solution play_arrow
-
question_answer4)
Assertion (A) There is a need for the owner of the human capital to be present in the place of production. |
Reason (R) Human capital is intangible; it is endogenously built in the body and mind of its owner. |
A)
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A) done
clear
B)
Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A) done
clear
C)
Assertion (A) is true, but Reason (R) is false done
clear
D)
Assertion (A) is false, but Reason (R) is true done
clear
View Solution play_arrow
-
question_answer5)
Investment in education by parents is the same as ......... .
A)
investment in intermediate goods by companies done
clear
B)
investment in CSR activity by companies done
clear
C)
investment in capital goods by companies done
clear
D)
None of the above done
clear
View Solution play_arrow
-
question_answer6)
Direction: Q. 6 to 10 |
Read the given case study and answer the questions. |
Traditional economic theory viewed capital in physical terms only. Economists during the late 1950's based on aggregate production function, found that the standard measures of simple labour and physical capital were incapable of explaining adequately the rapid post-war growth. Speculations on what was missing were diverse. Some argued that the principal explanation lays in the lack of appropriate adjustments for improvement in the quality of physical capital and the embodiment of technical progress in that capital. Others suggested that the most important omission pertains to the organisational advance or a vaguely specified 'human capital'. The residual of unexplained growth was at first ascribed to technology by Solow, but later, the residual was defined to include improvements in the quality of capital and the investment in human beings. Human capital is formed with improvement in skills and education. Improved health and education is a merit as well as a public good and is associated with large number of externalities which are often indirect, indivisible and non-quantifiable. |
Which of the following gives the definition of public goods?
A)
Excludable and non-rivalrous in nature done
clear
B)
Non-excludable and non-rivalrous in nature done
clear
C)
Non-excludable and rivalrous in nature done
clear
D)
Excludable and rivalrous in nature done
clear
View Solution play_arrow
-
question_answer7)
Consider the situation of 2 countries-A and B. Country A has invested more towards the technological progress whereas Country B has invested more towards expanding its military network and arms. To Solow, which country would go faster?
A)
Country A done
clear
B)
Country B done
clear
C)
Both grows at the same pace done
clear
D)
Can't comment done
clear
View Solution play_arrow
-
question_answer8)
Standard economic theories failed to explain the post-war rapid growth due to
A)
Measuring growth in terms of physical inputs only done
clear
B)
Ignoring other important factors such as improved skills and education done
clear
C)
Both (a) and (b) done
clear
D)
None of the above done
clear
View Solution play_arrow
-
question_answer9)
An externality is the good or bad impact which enters the utility or production function of another individual or firm with no choice of their own. The given statement is
A)
True done
clear
B)
False done
clear
C)
Partially true done
clear
D)
Partially false done
clear
View Solution play_arrow
-
question_answer10)
In the context of above paragraph, the 'residual' factor include
A)
Improvement in the quality of human capital done
clear
B)
Investment in human beings done
clear
C)
Improvement in technology done
clear
D)
All of the above done
clear
View Solution play_arrow
-
question_answer11)
Direction: Q. 11 to 15 |
Read the given case study and answer the questions. |
The economic and social benefits of human capital formation and human development are well known. The union and state governments in India have been earmarking substantial financial outlays for development of education and health sectors. The spread of education and health services across different sectors of society should be ensured so as to simultaneously attain economic growth and equity. India has a rich stock of scientific and technical manpower in the world. The need of the hour is to better it qualitatively and provide such conditions so that they are utilised in our own country |
For a improved health status of the country, family planning is quit essential. Which of the following is the main reason for family planning?
A)
For birth control issues done
clear
B)
For having unwanted pregnancies done
clear
C)
For having child every year done
clear
D)
To get pregnant before the age of twenty done
clear
View Solution play_arrow
-
question_answer12)
What percentage of GDP is contributed towards health and education sectors in India respectively?
A)
1.8% and 4.6% respectively done
clear
B)
5.4% and 3.4% respectively done
clear
C)
7% and 7.4% respectively done
clear
D)
6% and 6.4% respectively done
clear
View Solution play_arrow
-
question_answer13)
......... is not an indicator which measures the education status of the country?
A)
Years of schooling done
clear
B)
Life expectancy done
clear
C)
Teacher-pupil ratio done
clear
D)
Net attendance ratio done
clear
View Solution play_arrow
-
question_answer14)
Assertion (A) On an average, the government spends less on tertiary education, 'expenditure per student' in tertiary education is higher than that of elementary. |
Reason (R) This does not mean that financial resources should be transferred from tertiary education to elementary education. We need more teachers who are trained in the higher educational institutions; therefore, expenditure on all levels of education should be increased. |
A)
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A) done
clear
B)
Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A) done
clear
C)
Assertion (A) is true, but Reason (R) is false done
clear
D)
Assertion (A) is false, but Reason (R) is true done
clear
View Solution play_arrow
-
question_answer15)
Health status of a country is reflected by indicators such as birth rate, death rate, infant mortality rate, maternal mortality rate, life expectancy etc. The given statement is
A)
True done
clear
B)
False done
clear
C)
Partially true done
clear
D)
Can't comment done
clear
View Solution play_arrow
-
question_answer16)
Case Study 4
Direction: Q. 16 to 20 |
Analyse the given case study figure carefully and answer the questions. |
|
The Human Development Index (HDI) rank of India in 2020 is
A)
120 done
clear
B)
131 done
clear
C)
154 done
clear
D)
108 done
clear
View Solution play_arrow
-
question_answer17)
Human Development is a broader term and encompasses human capital. The given statement is
A)
True done
clear
B)
False done
clear
C)
Partially true done
clear
D)
Partially false done
clear
View Solution play_arrow
-
question_answer18)
Choose the correct combination between the following columns.
| Column A | | Column B |
A. | Longevity of life | (i) | Percentage of students enrolled at primary, secondary and tertiary level |
B. | Adult literacy rate | (ii) | Percentage of people aged 15 and above. |
C. | Gross enrolment rado | (iii) | Life expectancy at birth |
Codes
A)
A-(iii) B-(ii) C-(i) done
clear
B)
A-(ii) B-(iii) C-(i) done
clear
C)
A-(i) B-(ii) C-(iii) done
clear
D)
A-(iii) B-(i) C-(ii) done
clear
View Solution play_arrow
-
question_answer19)
The main reason Human Development Index (HDI) was constructed as
A)
People and their capabilities should be the ultimate criteria for assessing the development of a country, not economic growth alone. done
clear
B)
To explain the macroeconomic indicators of the country done
clear
C)
Both (a) and (b) done
clear
D)
None of the above done
clear
View Solution play_arrow
-
question_answer20)
The concept of Human Development Index embody the ideas of which notable economists?
A)
Amartya Sen and Mahbub ul Haq done
clear
B)
Jagdish Bhagwati and Amartya Sen done
clear
C)
Amartya Sen and Jagdish Bhagwati done
clear
D)
Jagdish Bhagwati and Mahbub ul Haq done
clear
View Solution play_arrow