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Yogita Ingle 5 years, 9 months ago
Green GNP. GNP does not take into consideration the cost in terms of (i) environmental pollution, and (ii) depletion of natural resources caused by production of output. Mere increase in GNP will not reflect improvement in quality of life if it increases environmental pollution or reduces available resources for future generations. That is why concept of Green GNP has been introduced while measuring economic welfare.
Green GNP is defined as "GNP which is indicator of a sustainable use of natural environment and equitable distribution of benefits of development." This concept denotes the following characteristics (i) Sustainable economic development, i.e., development which should not cause environmental degradation (pollution) and depletion of natural resources (ii) Equitable distribution of benefits of its of development. (iii) Promotes economic welfare for a long period of time.
Expressed in the form of an equation:
Green GNP = GNP - Net fall in stock of national capital.
Posted by Samarpan Maity 5 years, 9 months ago
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Yogita Ingle 5 years, 9 months ago
Open market operations refer to the sale and purchase of government securities and bonds by the Central Bank. While controlling inflation, the Central Bank sells government securities to the public through the banks. This results in the transfer of a part of bank deposits to the Central Bank account and reduces credit creation capacity of commercial banks.
Posted by Sunanda Adhikary 5 years, 9 months ago
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Yogita Ingle 5 years, 9 months ago
Liberty Indicator may be defined as the measure of the extent of demographic participation in the social and political decision making. In other words, it is an index used to measure the participation of the people in taking decisions. Some examples of liberty indicators are the measures of the extent of the Constitutional Protection Rights given to the citizens and the extent of the Constitutional Protection of the independence of the Judiciary and Rule of Law.
Posted by Radha Ramanujam 5 years, 9 months ago
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Vikram Kumar 5 years, 9 months ago
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