Indian Economy Quiz 4

Total utility is the sum of all marginal utilities derived from the consumption of each additional unit of a commodity. When marginal utilities are zero, it means that every additional unit of a good does not add any benefits to the consumer. In that case, total utility is maximized.

In economics, hot currency is the flow of funds from one country to another in order to earn a short-term profit on interest rate differences and/or anticipated exchange rate shifts.

National income is the accumulated money value of all final goods and services produced in a country during one financial year. Winning a lottery is not included in the national income because it does not add to current flow of goods and services.

objectives of the Industrial Licensing Policy in India were to establishment, expansion and ownership of private industries according to priorities of five-year plans and to check the monopoly tendency in industries. It also had the objective of balanced industrial development across regions.

As per the Constitution of India, the Finance Commission is appointed every five years and consists of a chairman and four other members. The Finance Commission is constituted by the President under article 280, mainly to give its recommendations on distribution of tax revenues between the Union and the States.

Goods and Services Tax (GST) is an indirect tax used in India on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.

A depository is an organization where the securities of an investor are held in electronic form.

IFCI is not a credit rating agency. It is a development finance institution under the Ministry of Finance, Government of India. CARE has established itself as one of the leading credit rating agencies in India. CRISIL is an Indian analytical company providing ratings, research, and risk. It is a subsidiary of American company S&P Global. ICRA is an Indian independent and professional investment information and credit rating agency.

National income is referred to as the total monetary value of all services and goods that are produced by a nation during a period of time.

The process of curing inflation by reducing money supply is called Disinflation. Disinflation is a temporary slowing of the pace of price inflation and is used to describe instances when the inflation rate has reduced marginally over the short term.