The 'Index of Industrial Production' uses which base year currently? MCQ with Answer and Explanation

Explanation:
Quality-ladder (or vertical-innovation) models of endogenous growth, associated with Aghion-Howitt and Grossman-Helpman, treat innovation as successive improvements in the quality of intermediate or final goods.

Explanation:
Moral suasion is a non-statutory instrument of persuasion by the RBI to influence bank behaviour.

Explanation:
Mental accounting describes the cognitive processes whereby individuals separate their wealth into non-fungible mental accounts, leading to behaviour that violates the principle of fungibility assumed in standard theory.