Indian Economy Quiz 7

The statement is taken from Keyne's Investment Demand Function. According to Keynes Investment expenditure refers to the creation of new assets i.e. an addition to the stock of existing capital assets.

Population density is the number of individuals per unit geographic area, for example, number per square meter, per hectare, or per square km.

Social infrastructure includes the construction and maintenance of facilities that support social services. These can include healthcare, education and Civil amenities.

GNP (Gross national product) includes what is produced domestically and what is produced by domestic labour and business abroad in a year. NNP (Net national product) is GNP minus depreciation. Depreciation is the process by which capital ages over time and therefore loses its value.

Devaluation reduces the cost of a country's exports, rendering them more competitive in the global market, which, in turn, increases the cost of imports.

A final good is a final product ready for sale that is used by the consumer to satisfy current wants or needs, unlike producer goods which are utilized to produce other goods. Final goods are available for consumption or can be used for capital formation. A refrigerator in a chemist shop is an example of a producer's good as it helps to satisfy human wants indirectly.

₹50 among Mahatma Gandhi Series of currency notes issued by the RBI has a drawing of the Parliament House depicted on it.

A progressive tax is a tax in which the tax rate increases as the taxable amount increases. The term progressive refers to the way the tax rate progresses from low to high, with the result that a taxpayer's average tax rate is less than the person's marginal tax rate.

Infrastructure investments are a form of real assets, which contain physical assets we see in everyday life like bridges, roads, highways, railways, sewage systems, telecommunication or energy.

The term human capital refers to the economic value of a worker's experience and skills. Human capital includes assets like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality.