Answer: (b)

Explanation:

Cost-push inflation occurs when the cost of producing goods and services rises.

Demand-pull inflation happens when overall demand for goods and services exceeds the available supply.

Generally, hyperinflation refers to sustained, uncontrolled inflation at extremely high rates, often exceeding 1000% per year.

Answer: (a)

Explanation:

By managing government spending and taxation, the government can influence aggregate demand and inflation. For example, reducing government spending or increasing taxes can decrease aggregate demand, potentially lowering inflationary pressures.

Fiscal measures indeed involve changes in government spending and taxation. This is their primary tool for influencing the economy and affecting inflation. By adjusting these aspects, the government can manipulate aggregate demand and influence various economic indicators, including inflation.

Therefore, both statements are true, and Statement-II accurately explains how fiscal measures achieve their effects on inflation through manipulation of government spending and taxation. They act as the instruments through which fiscal policy impacts inflation.

Answer: (b)

Explanation:

Green accounting indeed aims to integrate environmental costs and benefits into traditional accounting systems. This means considering the environmental impact of business activities like resource depletion, pollution, and waste generation, alongside traditional financial costs and benefits.

By understanding the environmental costs and benefits associated with their decisions, green accounting can help businesses make more sustainable choices.

Green accounting isn't just relevant for large corporations. While bigger businesses may have more resources to implement comprehensive green accounting practices, the principles and benefits apply to all organizations. Hence, only statement 3 is not correct.

Answer: (d)

Explanation:

The Twelfth Five Year Plan (2012-2017) of India did indeed focus on all four of the mentioned aspects:

Inclusive growth: The plan aimed to achieve faster, sustainable, and more inclusive growth, focusing on reducing poverty and inequality and bringing benefits to all sections of society. This involved initiatives like rural development programs, social safety nets, and educational programs for disadvantaged groups.

Sustainable development: The plan emphasized the importance of environmental sustainability and ecological conservation. It included initiatives for renewable energy, forest conservation, pollution control, and efficient resource utilization.

Skill development: Recognizing the need for a skilled workforce to support economic growth, the plan focused on skill development programs and vocational training across different sectors. This aimed to bridge the gap between available jobs and skills of the workforce.

Infrastructure development: The plan acknowledged the critical role of infrastructure in enabling economic growth and improving living standards. It emphasized investments in areas like roads, railways, ports, airports, irrigation, and power generation to create a strong infrastructure base for the country.

Answer: C

Explanation:

The GDP deflator is indeed a price index measuring the average price level of all goods and services produced in an economy, including both final consumption and intermediate consumption. This differs from the CPI, which only focuses on the prices of goods and services purchased by consumers for final use. Hence, both statements are correct.