Indian Economy Mixed Quiz: Set 37

Sen argued that development should be judged by what people are actually able to be and to do, their capabilities, rather than by the goods they own or the income they earn, and this is the reasoning behind the HDI's choice of health, education and a decent standard of living.

Issue price is the subsidised rate at which grain from the government's buffer stock is sold through ration shops, and it is deliberately kept below the market price.

Robert Giffen observed that when the price of a cheap staple such as coarse bread fell, poor families did not buy more of it but less, because the saving let them shift to a better food; such inferior goods are therefore called Giffen goods and their demand curve slopes upward.

It is the micro-finance scheme under which women borrow small sums at a concessional rate of interest, so the rebate in interest is built into the scheme itself.

SIDBI has its head office at Lucknow in Uttar Pradesh, which makes it the one major apex financial institution of the country not headquartered in a metropolitan financial centre, and that is exactly why the question is asked.

Bharat Heavy Electricals Limited is a public sector undertaking, which means the government holds the majority of its shares and controls its management.

Swachh Survekshan has been conducted since 2016 as part of Swachh Bharat Mission-Urban, and it ranks cities on waste collection and processing, public and community toilets and citizen feedback.

The marginal product of a variable factor first rises, reaches a peak and then falls, so the curve traced out is an inverted U. This is the law of variable proportions at work.

The law of demand records an inverse relationship: at a higher price buyers take less of a good and at a lower price they take more, which is why the demand curve slopes downward from left to right.

Statement I is right, because a government security, or G-Sec, is a tradeable debt instrument issued by the central government or by a state government and can be bought and sold in the secondary market before it matures.

The Industrial Finance Corporation of India was set up in 1948 under the Industrial Finance Corporation Act of that year to provide medium and long-term finance to industry, which makes it the first development finance institution in the country; it was converted into a company in 1993.

India allows 100 per cent foreign direct investment through the automatic route in the construction, operation and maintenance of rail infrastructure projects.

PMAY-Gramin provides unit assistance of 1.20 lakh rupees in the plain areas, released in instalments linked to the stage of construction and paid directly into the beneficiary's account.

The Aatmanirbhar Bharat Rojgar Yojana was announced in October 2020 as part of the Aatmanirbhar Bharat package, to bring back the jobs lost during the Covid-19 lockdown.

When only the price of the good itself changes, the buyer simply moves to another point on the same demand curve, and a move to a larger quantity at a lower price is called an extension of demand, while the reverse is a contraction.

The Mahatma Gandhi National Rural Employment Guarantee Act, 2005 promises every rural household at least 100 days of unskilled manual wage work in a financial year.

The EXIM Bank was established on 1 January 1982 under the Export-Import Bank of India Act, 1981, is wholly owned by the Government of India, has its head office in Mumbai, and finances and promotes India's foreign trade, including the lines of credit the government extends to other countries.

Elasticity is the percentage change in quantity divided by the percentage change in price; if the numerator is zero the whole value is zero, and the demand curve becomes a vertical straight line.

MUDRA was created in 2015 as a subsidiary of SIDBI to refinance the small loans given by banks, microfinance institutions and non-banking finance companies under the Pradhan Mantri Mudra Yojana, the loans being classified as Shishu up to fifty thousand rupees, Kishore from fifty thousand to five lakh and Tarun…

A higher price covers the rising cost of producing extra units and promises a larger profit, so sellers offer more, and the supply curve therefore rises from left to right.