Question : The economic progress of a country is determined by:
Option 1: an increase in the per capita income of the people of the country.
Option 2: increase in the price of produced capital goods during the year.
Option 3: increased numbers of trade Unions.
Option 4: fall in the general price level of a country.
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Correct Answer: an increase in the per capita income of the people of the country.
Solution : The correct option is an increase in the per capita income of people in the country.
Increases in per capita income are frequently used to gauge a nation's economic success. The average income per person in a specific region is known as per capita income, and it is derived by dividing the area's total income by the population. However, because it does not consider income disparity, per capita income alone does not give a full picture of a nation's economic development.
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Question : The price of a cap is increased by 15%. If this results in an INR 27 increase in the price of the cap, then what is the increased price of the cap?
Option 1: 170
Option 2: 197
Option 3: 207
Option 4: 180
Question : If the price of a washing machine is first increased by 25% and then decreased by 25%, then the net change in price will be a _____.
Option 1: 6.5% increase
Option 2: 6.5% decrease
Option 3: 6.25% decrease
Option 4: 6.25% increase
Question : The basis for determining the dearness allowance of employees in India is:
Option 1: National Income
Option 2: Consumer Price Index
Option 3: Standard of living
Option 4: Per capita income
Question : According to the World Bank classification, India belongs to the category of ________.
Option 1: upper-middle income country
Option 2: low-income country
Option 3: lower-middle income country
Option 4: high-income country
Question : If the price of a book first increased by 18% and then decreased by 18%. What is the net change in the price of the book?
Option 1: 18% increase
Option 2: 3.24% decrease
Option 3: No change
Option 4: 18% decrease
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