NABARD Grade A & B Exam 2021 : Economic & Social Issues (ESI) Questions | Set-18

Correct Answer – C. co-existence of public and private sectors

Explanation-A mixed economy is defined as an economic system consisting of a mixture of either markets and economic planning, public ownership and private ownership, or markets and economic interventionism.

Correct Answer – C. Gross domestic product of the nation

Explanation-Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.

Correct Answer – A. Life expectancy at birth

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.

Correct Answer: A. national income growth adjusted for inflation

Explanation-The real economic growth, or real GDP growth rate, measures economic growth as it relates to the gross domestic product (GDP) from one period to another, adjusted for inflation, and expressed in real terms as opposed to nominal terms.

Correct Answer – B. Odisha

Explanation-Odisha Chief Minister Naveen Patnaik has launched the ‘Jalsathi’ programme to ensure supply of safe drinking water to all households in the state.

Correct Answer: B. Bhutan’s King

Explanation-Gross National Happiness is a term coined by His Majesty the Fourth King of Bhutan, Jigme Singye Wangchuck in the 1970s.

Correct Answer: C. Frictional unemployment

Explanation-It occurs when a worker is shifting from one job to the other. During the mobility period, he may unemployed for some time. It is a temporary phenomenon. In other words, Frictional unemployment is the time period between jobs when a worker is searching for, or transitioning from one job to another.

Correct Answer – C. Jeddah, Saudi Arabia

Explanation-The Islamic Development Bank (IDB) is a multilateral development financing institution located in Jeddah, Saudi Arabia. It was founded in 1973 by the Finance Ministers at the first Organisation of the Islamic Conference (now called the Organisation of Islamic Cooperation) with the support of the king of Saudi Arabia at the time, and began its activities on 20 October 1975. There are 56 shareholding member states. On the 22 May 2013, IDB tripled its authorized capital to $150 billion to better serve Muslims in member and non-member countries. The Bank has received credit ratings of AAA from Standard & Poor’s, Moody’s and Fitch. Saudi Arabia holds about one quarter of the bank’s paid up capital. The IDB is an observer at the United Nations General Assembly.

Correct Answer – C. 15th July

Explanation-World Youth Skills Day that annually falls on July 15 is one of new UN International Days of observance. It was established by the UN General Assembly on November 11, 2014. Observance of the day aims to create more awareness on training and the development of skills for the youth of today and also create better employment opportunities for the youth. The Government of India launched the Skill India Mission on this day in July, 2015.

Correct Answer – B. The World Bank

Explanation-the World Bank Group releases its ‘Global Economic Prospects’ report.