Question
Consider the following statements about economic growth
and development: 1. Economic growth refers to a quantitative increase in a country’s output. 2. Economic development includes qualitative improvements in living standards. 3. Economic growth always leads to economic development. Which of the above statements are correct?Solution
Economic growth is a quantitative increase in GDP (statement 1). Development focuses on improved living standards and social indicators (statement 2). Growth does not always lead to development (statement 3 is incorrect).
Which of the following is not included in the assets of a commercial bank in India?
The economic cost of food grains to the Food Corporation Of India is Minimum Support Price and bonus (if any) paid to the farmers plus?
The government recently imposed a windfall tax on the export of diesel, petrol and air turbine fuel. With reference to the windfall tax in India, consid...
In the expenditure approach to calculating GDP, what is the formula for GDP?
Which of the following statements is/are true?
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All revenues received by the Union Government by way of taxes and other receipts for the conduct of Government business are credited to the?
Which of the parameters given below are used by World Economic Forum to calculate Global Gender Gap Index:
I.Economic Participation and Opportuni...
In the context of Indian economy, which of the following is/are the purpose/purposes of ‘Statutory Reserve Requirements’?Â
1. To enable the ...
With reference to PM SVANidhi Scheme, consider the following statement:
1. The scheme is the initiative of Ministry of Urban and Housing affairs<...
Banking Regulation Act was enacted in _______________.
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