Which of the Following Statements About the Development of India's

question 16

Multiple Choice

Which of the following statements about the development of India's economy is accurate?

• A)Efforts to transition from import substitution industrialization and toward social-democratic policies began in the 1980s and came into full swing in the 1990s.
• B)Stamping out corruption and protectionism as barriers to economic growth is one of the major successes of the 1990s reform effort.
• C)The license raj has only acquired more complexity and red tape in recent years,and will soon force the Indian National Congress to address a reform effort.
• D)India's 2015 GDP growth rate outpaced China's,making India the fastest growing large economy in the world.

---

Definitions:

Operating Expenses

Operating expenses are costs associated with running a business day-to-day, excluding costs linked to producing goods and services.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material, labor, and manufacturing overhead costs.

Asset Turnover Ratio

A financial metric that measures the efficiency of a company's use of its assets in generating sales revenue; calculated by dividing sales by total assets.

Producing Sales

The process of generating revenue through the selling of goods or services.