Nature of Indian Economy
- Human Development Index comprises literacy rates, life expectancy at birth and
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Human Development Report the HDI combines three dimensions.
Correct Option: D
Human Development Report the HDI combines three dimensions:
A long and healthy life : Life expectancy at birth,
Education index : Mean years of schooling and Expected years of schooling.
A decent standard of living : GNI per capita (PPP US$).
- GDP deflator is used to :
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GDP deflator is An economic metric that accounts for inflation by converting output measured at current prices into constant-dollar GDP.
Correct Option: B
GDP deflator is an economic metric that accounts for inflation by converting output measured at current prices into constant-dollar GDP. The GDP deflator shows how much a change in the base year's GDP relies upon changes in the price level.
- Fiscal Drag' expresses the impact of impact of inflation on which of the following?
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Fiscal Drag is an economics term referring to a situation where a government's net fiscal position (equal to its spending less any taxation) does not meet the net savings goals of the private economy.
Correct Option: B
Fiscal Drag is an economics term referring to a situation where a government's net fiscal position (equal to its spending less any taxation) does not meet the net savings goals of the private economy. Fiscal drag is a concept where inflation and earnings growth may push more taxpayers into higher tax bracket.
- It will be true to classify India as
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N/A
Correct Option: B
N/A
- Currency devaluation done by the government leads to which of the following?
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Devaluation is a deliberate downward adjustment to the value of a country s currency, relative to another currency, group of currencies.
Correct Option: C
Devaluation is a deliberate downward adjustment to the value of a country s currency, relative to another currency, group of currencies. Since it is relative to other currency, so internal price remains unchanged. It causes a country's exports to become less expensive and imports more expensive.