Question : The best index of economic development is provided by
Option 1: Growth in per capita real income from year to year
Option 2: Growth in national income at current prices
Option 3: Growth in savings ratio
Option 4: Improvements in the balance of payments position
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Correct Answer: Growth in per capita real income from year to year
Solution : The correct option is Growth in per capita real income from year to year.
The increase in real per capita income is one of the most popular metrics for measuring economic progress. It indicates the average income of people in a nation. This measure is useful since it captures the population's overall living conditions and health.
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Question : Accounting of National Income at constant prices is known as____________.
Option 1: Money income
Option 2: Current income
Option 3: Domestic income
Option 4: Real income
Question : The best indicator of economic development of any country is______.
Option 1: Per capita income
Option 2: Per person expense
Option 3: Calorie consumption
Option 4: Women empowerment
Question : Which of the following is another term for the average income of a country?
Option 1: Inflation rate
Option 2: Per capita expenditure
Option 3: Disposable income
Option 4: Per capita income
Question : As of 2019, national income estimates in India are prepared by:
Option 1: National Development Council
Option 2: National Productivity Council
Option 3: National Income Committee
Option 4: Central Statistical Organisation
Question : What was the main aim of the First Five Year Plan?
Option 1: Self-dependent
Option 2: Industrial growth
Option 3: Economic growth
Option 4: Agricultural growth
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