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1

What is the area under cotton cultivation in India?

9.4 million hectares

2

______ is the total income
generated by the residents of a country
in its economic territory in a particular
period of time

National income

3

The calculation of
National Income by compiling income of
all households is called _____

Income Method

4

The calculation of
National Income by compiling the value
of all goods and services produced in the country is called _____

Production Method

5

The Production Method is also called _____

Output Method or Value Added Method

6

The calculation of
National Income by compiling the total
expenditure incurred by the people.

Expenditure or Consumption Method

7

Stock of unsold finished goods,
Semi-finished goods, or raw materials
which a firm carries from one year to the
next is called _____

Inventory

8

The sum of GDP and Net National Income from Abroad is called?

GNP

9

The difference between GNP and depreciation is called ____

NNP

10

The difference between indirect taxes and subsidies is called ____

Net Indirect Taxes

11

The difference between NNP and Net Indirect Taxes is called _______

National Income

12

National Income is also called _____

NNP At Factor Cost

13

NNP at Factor Cost is also called _____

National Income

14

Profit which is not distributed among
the factors of production but is kept
with the firms is called _______.

Undistributed Profits

15

The GDP at current prices is called ____

Nominal GDP

16

GDP at base/constant prices is called _____

Real GDP

17

The ratio between Nominal GDP and Real GDP is called?

GDP Deflator

18

The index of
prices of a given basket of commodities
purchased by a representative consumer is called?

Consumer Price Index

19

Wholesale Price Index is also known as ____ in USA.

Producer Price Index

20

______ cannot be taken as a good indicator
of the welfare of the people of a country

GDP

21

_______ refer to the harm a firm
or an individual might inflict upon
another firm or individual for which
they are not penalised

Externalities

22

HDI was developed by _____

Mahbub-ul-Haq and Amartya Sen

23

What are the three dimensions through which HDI is measured?

Health, Education and Standard of Living

24

What is the indicator of the dimension Health in the HDI?

Life Expectancy

25

What are the indicators for the dimension of education in HDI?

1. Expected Years of Schooling.
2. Mean years of prior schooling for adults aged 25 and older.

26

What is the indicator for the dimension of Standard of Living in the HDI?

GNI per capita

27

Which countries secured the top 5 positions in the HDI Report 2016?

Norway, Australia, Switzerland, Germany, Denmark

28

What was India's Rank in the HDI Report 2015?

130

29

What was India's Rank in the HDI Report 2016?

131

30

India is in which category in the HDI Report?

Medium Human Development Category