Unique Academic Board Solutions for Chapter: National Income of India, Exercise 1: Self-Evaluation Test

Consider the following statements in the context of the Green Gross Domestic Product (Green GDP):

1. Green GDP calculates the monetary value of the Forests, Lakes and other natural resources.
2. Green GDP considers the growth of Green Investments made to ensure environmentally sustainable development.
3. Green GDP accounts for the monetized loss of biodiversity and costs caused by climate change.

Which of the above statement(s) is/are NOT Correct?

Consider the following statements:

1. While GDP gives a picture of whole economy, GVA gives pictures at enterprises, government and households levels.
2. Gross Value Added (GVA) broadly reflects the supply or production side of the given economy.

Which of the above statement(s) is/are correct?

Consider the following industrial sectors:

1. Coal
2. Steel
3. Cement
4. Electricity

Which of the above sector are part of Eight Core industries?

Consider the following statements:

1. The eight-core infrastructure supportive industries have 80% weightage in the Index of Industrial Production (IIP).

2. All sectors of Eight Core industries always register higher and upward growth over the preceding years.

Which of the above statement(s) is/are correct?

Consider the following statements in the context of Domestic Income and National Income:

1. Domestic income refers to the value of all final goods and services produced by all the enterprises located within the territory of a country.

2. National income is the amount of final goods and services produced by the nationals of a country after excluding the Net Factor Income from Abroad.

Which of the above statement(s) is/are correct?

Consider the following statements in the context of Gross Domestic Product at Market Prices:

1. GDP at market prices is the value of all fixed goods and services at prices prevailing in the market produced in the domestic territory.

2. While calculating the GDP at market prices, consumption of fixed capital in the process of production has been included.

Which of the above statement(s) is/are correct?

Which of the following statement(s) is/are correct in the context of the term Hindu Rate of Growth?

1. The term 'Hindu Rate of Growth' was first coined by Professor Jagdish Bhagwati.

2. Hindu Rate of Growth denotes the phases of high growth rates achieved during the post-independence economic reforms.

Choose the correct code:

Consider the following statements in the context of Purchasing Power Parity:

1. PPP is an attempt by taking factors of each country to find a person's standard of living inside and outside that country.
2. US Dollar, Euro, Yen, Pounds and SOR are used as benchmarks to calculate the value of Purchasing Power Parity.

Which of the above statement(s) is/are correct?