WORLD WAR II
DECOLONIZATION PHASE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a traditional economy to a command economy.
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a one-party dictatorship to a parliamentary democracy.
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a socialist economy to a market economy.
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a British colony to an independent nation.
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Detailed explanation-1: -Consumer spending increased in response to the federal tax cut. The stock market climbed as it reflected the optimistic buying spree. Over a five-year period following the start of the recovery, GNP grew at an annual rate of 4.2 percent.
Detailed explanation-2: -Growth during the 1980s was higher than in the preceding decades but fragile. It not only culminated in a crisis in June 1991 but also exhibited significantly higher variance than growth in the 1990s. Central to the high growth rate in the 1980s was the super high growth of 7.6 percent during 1988–91.
Detailed explanation-3: -The country has experienced an increase in per capita income-especially since the 1980s-as well as reductions in poverty and infant mortality rates. These improvements are not insignificant and mark a sharp break from the near stagnation that the country experienced during British rule.
Detailed explanation-4: -Over the long run, India’s growth has been driven by an increasing share of investment and exports, with a large contribution from consumption. Growth has also been characterized by productivity gains – both in labor productivity as well as in total factor productivity.