Match the national accounting aggregates and development indicators in List-I with their a… — State PSC Exam

Match the national accounting aggregates and development indicators in List-I with their accurate conceptual definitions in List-II:

Gross National Disposable Income ( $GNDI$ )Total resources available to resident units for final consumption and saving, equal to $GNP_{MP}$ plus net current transfers from abroad
Gross National Happiness ( $GNH$ )Development framework emphasizing sustainable socio-economic growth, environmental conservation, cultural preservation, and good governance
Net Value Added at Factor Cost ( $NVA_{FC}$ )Income generated by domestic enterprises after deducting depreciation and net indirect taxes from gross output value
Inequality-adjusted Human Development Index ( $IHDI$ )Measure of actual human development level that discounts the average achievement in health, education, and income due to unequal distribution

Answer

Gross National Disposable Income corresponds to total available resources equal to

GNP_{MP}

plus net current transfers from abroad; Gross National Happiness corresponds to the development framework based on sustainable growth, environmental conservation, cultural preservation, and good governance; Net Value Added at Factor Cost corresponds to income generated after deducting depreciation and net indirect taxes; Inequality-adjusted Human Development Index corresponds to the measure discounting average HDI achievement due to distribution inequality.

Each indicator matches its exact definition: Gross National Disposable Income factors in foreign transfers to

GNP_{MP}

; Gross National Happiness focuses on four pillars of holistic governance and sustainability; Net Value Added at Factor Cost isolates net factor earnings by removing depreciation and tax distortions; Inequality-adjusted Human Development Index discounts standard HDI based on spatial and social inequalities.

Step-by-Step Solution

Examine the macroeconomic identities in List-I

Identify

GNDI

as an indicator of national disposable income incorporating foreign net transfers, and

NVA_{FC}

as net factor earnings from production after deducting depreciation and indirect taxes.

National accounting rules distinguish between income generated, factor payments, and total disposable funds.

Examine the social and development metrics in List-I

Identify Gross National Happiness as a multidimensional quality-of-life framework, and

IHDI

as UNDP's metric adjusting standard HDI for inequality across dimensions.

Development indicators extend beyond financial output to capture distribution equity and qualitative well-being.

Match each term to its theoretical definition

GNDI

matches total resources including net transfers from abroad;

GNH

matches the four-pillar holistic framework;

NVA_{FC}

matches net domestic factor production income;

IHDI

matches the index discounting HDI for unequal distribution.

Pairing each term with its primary methodological scope establishes accurate concept matching.

Key Concept

National Income Disposable Aggregates and Human Development Indices

Question

Answer

Step-by-Step Solution

Key Concept

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