What type of data will you need to assess the performance of indian economy?
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Traditionally, the key measures of economic performance in macroeconomics include:
1. Economic growth – real GDP growth.
2. Inflation – e.g. target CPI expansion of 2%
3. Joblessness – focus of full business
4. Current record – acceptable current record, e.g. low deficit.
Different measures of economic performance can include:
- Government obtaining/national obligation
- Real expendable salaries
- Income inequality
- Labor efficiency
- Investment levels
- Exchange rate
- Measures of prosperity – overviews which measure general expectations for everyday comforts. e.g. ONS well-being index.
- Human development index (HDI) – a measure of economic advancement. It is a composite file which incorporates real GDP per capita and furthermore factors, for example, training, medicinal services and environmental elements.
1. Economic growth – real GDP growth.
2. Inflation – e.g. target CPI expansion of 2%
3. Joblessness – focus of full business
4. Current record – acceptable current record, e.g. low deficit.
Different measures of economic performance can include:
- Government obtaining/national obligation
- Real expendable salaries
- Income inequality
- Labor efficiency
- Investment levels
- Exchange rate
- Measures of prosperity – overviews which measure general expectations for everyday comforts. e.g. ONS well-being index.
- Human development index (HDI) – a measure of economic advancement. It is a composite file which incorporates real GDP per capita and furthermore factors, for example, training, medicinal services and environmental elements.
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