Nature of Indian Economy


  1. Human Development Index comprises literacy rates, life expectancy at birth and









  1. View Hint View Answer Discuss in Forum

    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$).


  1. GDP deflator is used to :









  1. View Hint View Answer Discuss in Forum

    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.



  1. Fiscal Drag' expresses the impact of impact of inflation on which of the following?









  1. View Hint View Answer Discuss in Forum

    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.


  1. It will be true to classify India as









  1. View Hint View Answer Discuss in Forum

    N/A

    Correct Option: B

    N/A



  1. Currency devaluation done by the government leads to which of the following?









  1. View Hint View Answer Discuss in Forum

    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.