GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is definitely a major indication of the State of the economy of a country?
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Rate of GDP growth
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Rate of inflation
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Number of banks in a country
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Stock of foodgrains in a country
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Explanation:
Detailed explanation-1: -Rate of GDP growth is a major indication of the state of the economy of a country.
Detailed explanation-2: -GDP is an accurate indicator of the size of an economy and the GDP growth rate is probably the single best indicator of economic growth, while GDP per capita has a close correlation with the trend in living standards over time.
Detailed explanation-3: -The most common way to measure the economy is real gross domestic product, or real GDP. GDP is the total value of everything-goods and services-produced in our economy.
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