Economic Indicators

The Atlas method is a method used by the World Bank to estimate the size of economies in terms of gross national income (GNI) in U.S. dollars. A country's GNI in local (national) currency is converted into U.S. dollars using the Atlas conversion factor, which uses a three-year average of exchange rates to smooth effects of transitory exchange rate fluctuations, adjusted for the difference between the rate of inflation in the country (using the country's GDP deflator), and that in a number of developed countries (using a weighted average of the countries' GDP deflators in SDR terms). The resulting GNI in U.S. dollars is divided by the country's midyear population to obtain the GNI per capita.

Acyclical indicators are those with little or no correlation to the business cycle: they may rise or fall when the general economy is doing well, and may rise or fall when it is not doing well.

Classical or real wage unemployment occurs when real wages for a job are set above the market-clearing level, causing the number of job seekers to exceed the number of vacancies.

Core inflation represents the long run trend in the price level. In measuring long run inflation, transitory price changes should be excluded. One way of accomplishing this is by excluding items frequently subject to volatile prices, like food and energy.

Consumer Price Index (CPI) in India is reported by the Labour Bureau, Government of India. Historically, from 1960 until 2013, India Consumer Price Index (CPI) averaged 54.45 Index Points reaching an all time high of 221 Index Points in January of 2013 and a record low of 4.32 Index Points in April of 1960.

Leading indicators are indicators that usually change before the economy as a whole changes. They are therefore useful as short-term predictors of the economy. Stock market returns are a leading indicator: the stock market usually begins to decline before the economy as a whole declines and usually begins to improve before the general economy begins to recover from a slump.

GDP is the final value of all goods and services produced within the domestic territory of a country in a fiscal (and not a calendar) year. GDP includes the value of goods and services produced by foreign nationals on the domestic territory of a country. Gross national product includes the final value of goods and services produced by the nationals of a nation, even those working abroad.

The amount received as national income is identical to the amount spent as national expenditure, which is also identical to what is produced as national output. Throughout macroeconomics, the terms income, output and expenditure are interchangeable.

Correct answer is (3). 

The Indian WPI figure was earlier released weekly on every Thursday and influenced stock and fixed price markets. The Indian WPI is now updated on a monthly basis.

The ASI extends to the entire nation, except the states of Arunachal Pradesh, Sikkim and Mizoram and the Union Territory of Lakshadweep.

The volume and composition of domestic savings in India have undergone significant changes over the years. The savings rate (gross domestic savings as percentage of gross domestic product at market prices) averaged 18.6 percent in the 1980s and 23 percent in the 1990s. The savings rate exceeded 30 percent for the first time in 2004-05 and has remained above that level ever since. It peaked in 2007-08 at 36.8 percent.

As per the speech of Finance Minister during budget presentation for the fiscal 2013-14, only China and Indonesia grew at a rate greater than India during the 2012-13 fiscal.