Social infrastructure refers to the facilities and mechanisms that ensure education, health care, community development, income distribution, employment and social welfare. It includes health care system, including hospitals, the financing of health care, including health insurance, the systems for regulation and testing of medications and medical procedures; the educational and research system, including elementary and secondary schools, universities, specialised colleges, research institutions; Social welfare systems; Sports and recreational infrastructure, such as parks, sports facilities, the system of sports leagues and associations; Cultural infrastructure; and business travel and tourism infrastructure, including both manmade and natural attractions, etc.

Correct Option: B

Social infrastructure refers to the facilities and mechanisms that ensure education, health care, community development, income distribution, employment and social welfare. It includes health care system, including hospitals, the financing of health care, including health insurance, the systems for regulation and testing of medications and medical procedures; the educational and research system, including elementary and secondary schools, universities, specialised colleges, research institutions; Social welfare systems; Sports and recreational infrastructure, such as parks, sports facilities, the system of sports leagues and associations; Cultural infrastructure; and business travel and tourism infrastructure, including both manmade and natural attractions, etc.

A consumer price index (CPI) measures changes in the price level of consumer goods and services purchased by households. The annual percentage change in a CPI is used as a measure of inflation. A CPI can be used to index (i.e., adjust for the effect of inflation) the real value of wages, salaries, pensions, for regulating prices and for deflating monetary magnitudes to show changes in real values.

Correct Option: B

A consumer price index (CPI) measures changes in the price level of consumer goods and services purchased by households. The annual percentage change in a CPI is used as a measure of inflation. A CPI can be used to index (i.e., adjust for the effect of inflation) the real value of wages, salaries, pensions, for regulating prices and for deflating monetary magnitudes to show changes in real values.

Liquid Asset is an asset that can be converted into cash quickly and with minimal impact to the price received. In a liquid market, assets can be easily converted without considerable price fluctuation, and with a minimal decline in worth. A liquid market is a type of market that possesses a high level of stability, and low spreads between asking and selling prices. Securities issued by the Government are considered risk-free, and as such, their yields are often used as the benchmarks for fixed- income securities with the same maturities. The government securities market constitutes a key segment of the financial market, heavily traded offering virtually credit risk-free highly liquid financial instruments, which market participants are more willing to transact and take positions.

Correct Option: C

Liquid Asset is an asset that can be converted into cash quickly and with minimal impact to the price received. In a liquid market, assets can be easily converted without considerable price fluctuation, and with a minimal decline in worth. A liquid market is a type of market that possesses a high level of stability, and low spreads between asking and selling prices. Securities issued by the Government are considered risk-free, and as such, their yields are often used as the benchmarks for fixed- income securities with the same maturities. The government securities market constitutes a key segment of the financial market, heavily traded offering virtually credit risk-free highly liquid financial instruments, which market participants are more willing to transact and take positions.

In economics, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. Tax incidence is said to “fall” upon the group that ultimately bears the burden of, or ultimately has to pay, the tax. The key concept is that the tax incidence or tax burden does not depend on where the revenue is collected, but on the price elasticity of demand and price elasticity of supply. A tax on the sale of goods (sales tax, excise tax) will ultimately be paid by either the consumer or the firm based on elasticities, regardless of who the government actually levies the tax on. If the consumer ultimately pays the tax, it means that the tax incidence falls on the consumer. If the firm ultimately pays the tax, it means that the tax incidence ultimately falls on the firm.

Correct Option: A

In economics, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. Tax incidence is said to “fall” upon the group that ultimately bears the burden of, or ultimately has to pay, the tax. The key concept is that the tax incidence or tax burden does not depend on where the revenue is collected, but on the price elasticity of demand and price elasticity of supply. A tax on the sale of goods (sales tax, excise tax) will ultimately be paid by either the consumer or the firm based on elasticities, regardless of who the government actually levies the tax on. If the consumer ultimately pays the tax, it means that the tax incidence falls on the consumer. If the firm ultimately pays the tax, it means that the tax incidence ultimately falls on the firm.

In economics, economic equilibrium is a state of the world where economic forces are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change. The condition of equilibrium of income is the equality of intended saving and intended investment. An economy is in equilibrium when total savings equal total investment.

Correct Option: C

In economics, economic equilibrium is a state of the world where economic forces are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change. The condition of equilibrium of income is the equality of intended saving and intended investment. An economy is in equilibrium when total savings equal total investment.