Economy One-Liners for various competitive examinations
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Here are some important Economy one-liners for students competing for various exams
Watch some of the important Economy Bits below.
1-Estimates of national income in India are prepared by the Central statistical organization
2-Of the various ways of financing government’s investment expenditure, the least inflationary is taxation.
3-Lakdawala Committee’s recommendations are being followed for estimating Poverty Line in India.
4-India is self-sufficient in the production of Milk.
5-More than one-third of the crude steel production of the world comes from China
6-One-rupee currency notes bear the signature of Finance Secretary of India.
7-A rolling plan was a plan for one year
8-A steady increase in the general level of prices as a result of excessive increase in aggregate demand as compared to aggregate supply is termed as demand-pull inflation
9-Absolute Poverty means poverty in terms of the basic minimum calorie requirements.
10-An ad valorem duty is a tax on the basis of The price of a commodity
11-According to the law of demand when Price Increases, demand decreases
12-A very rapid growth in prices in which money loses its value to the point where even barter may be preferable is known as hyper-inflation.
13- An economy is in equilibrium when Intended investment equals intended saving.
14-Bank rate is the rate at which the Reserve Bank of India gives credit to commercial banks.
15-Black money is income on which payment of tax is usually evaded
16-Capital output ratio of a commodity measures the ratio of working capital employed to a quantity of output.
17-Consequent upon the recommendations of the Working Group on Rural Banks, 5 Rural Regional Banks were initially set up in the year 1975
18-Broad money in India is M3
19-Banks in India are required to maintain a portion of their demand and time liabilities with the Reserve Bank of India. This portion is called Cash Reserve Ratio.
20- An essential attribute of inflation is increase in prices.
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