IBPS PO General Awareness: Economics and Social Development questions with solutions

Q1. What measures did Sperling suggest to achieve economic dignity?

1. giving due attention to health and child care facilities within a country
2. assurance of provision of basic necessities
3. higher amount of minimum wages must be ascertained
4. both (a) and (b)
5. all of the above

Answer: all of the above

Sperling’s idea of economic dignity includes ensuring basic necessities, supporting health and child care, and providing fair wages. Since all three measures are mentioned, the correct choice is the option that includes all of them.

Q2. The author is in line with which of the following views?

1. Economists believe that GDP and higher per capita income is necessary for economic growth
2. Gross National Happiness and quality of life are necessary aims for any economy
3. Although GNH is premised on the idea of overall psychological well-being, the significance of governance is undermined
4. The developed nations have been successfully providing support for the unemployed but are still lagging in GNH
5. All are correct

Answer: Gross National Happiness and quality of life are necessary aims for any economy

The author supports the idea that economic success should be judged by well-being and quality of life, not only by GDP or per capita income. Hence, the view aligned with the author is the one emphasizing Gross National Happiness and quality of life.