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Indian Economy Data Interpretation

XAT 2013 · Quantitative Ability & Data Interpretation · Medium · Data Interpretation

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Passage / data set

Given below are a few data points on the Indian economy from 2005 to 2010:

IndicatorUnit200520062007200820092010
GDP, current pricesRs Billions35662.241159.7347675.8654470.2760712.7673555.34
GDP, per capita current pricesRs32128.136553.9341747.6947038.2351714.4561784
Gross national savings Percent of GDP%32.8834.2836.6532.1735.0832.14
Inflation, average consumer prices indexIndex115.67122.92130.75141.67157.08175.92
Volume of imports of goods and services% Change17.999.43816.310.848.32116.49
Volume of exports of goods and services% Change18.8813.8317.1310.630.81321.86
Unemployment rate%9.28.97.87.26.87.32
Current account balance percent of GDP%-1.272-1.024-0.701-2.475-2.066-3.268

*per capita GDP is arrived by dividing GDP by population.

Question 1 of 3

What is the ratio of the current account balance in 2010 to the current account balance in 2005?

  1. A.

    0.35

  2. B.

    4.56

  3. C.

    5.01

  4. D.

    2.57

  5. E.

    5.30

Answer

E

Explanation

Current account balance (2010) = 3.268%×73555.34=2403.793.268\% \times 73555.34 = 2403.79. Current account balance (2005) = 1.272%×35662.2=453.621.272\% \times 35662.2 = 453.62. Ratio = 2403.79/453.62≈5.302403.79 / 453.62 \approx 5.30.

Question 2 of 3

Read the statements given below:

  1. Exports were more than imports in 2006
  2. Imports were more than exports in 2009
  3. Exports increased at faster rate than imports during the period 2005 to 2010 Which of the above statements is necessarily true?
  1. A.

    1 and 2

  2. B.

    1, 2 and 3

  3. C.

    3 only

  4. D.

    2 only

  5. E.

    1 only

Answer

C

Explanation

Since base values of imports and exports are not given, statements 1 and 2 cannot be verified. Comparing the cumulative percentage growth rates from 2005 to 2010 shows exports grew faster than imports overall.

Question 3 of 3

What was the approximate number of unemployed persons in 2006?

  1. A.

    100 million

  2. B.

    102 million

  3. C.

    98 million

  4. D.

    105 million

  5. E.

    104 million

Answer

A

Explanation

Population in 2006 = GDP/Per Capita GDP=41159.73×109/36553.93=1126\text{GDP} / \text{Per Capita GDP} = 41159.73 \times 10^9 / 36553.93 = 1126 million. Unemployed = 8.9%×1126≈1008.9\% \times 1126 \approx 100 million.

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