ECONOMICS 14/6/24 Flashcards
What is GDP
It is the total market value of all finished goods and services produced within a country in a set time period
what are the four components of GDP
Consumption
Investment
Government expenditure
net foreign exports of a country
X-M = export - Import
GDP= C+I+GE+(X-M)
what is gross national product
if you are only counting the total production only by Indians
GNP= GDP+NFIA
Net national product
market value of net output of final goods and services produced by an economy during a year and net factor income from abroad
net national product
NNP = GNP - Depreciation
National Income
NI= NNP +subsidies - Interest taxes
what is the per capita income
It is calculated by dividing the national income of the country by the total population of the country
PCI= Total national income / Total national population
what is the age group of the country
15-59 years
when was the planning commission of India was established
15 march 1950 - 2014 / Non statuatory body
who is the chairman of the planning commission of the India
The prime minister
The governing council of the Niti Ayog are
The chief ministers of the state and lieutenat governors of the union territory
what is the central bank of india
the reserve bank of India , Indian rupee is the currency of India
the reserve bank of India is based on the strategies formulated by the
Ambedhkar in his book the problem of the rupee - its origin and its solutions
what is the name of the commission established the central bank of India
Hilton young commission
when was the reserve bank of India act enacted
1934 by the British
