Normal Resident: A normal resident of India is defined as someone who resides in India for at least 182 days during the last financial year.
Option (D): An Indian citizen working abroad for more than 1 year is not considered a normal resident of India, as they are considered a nonresident for tax and other economic purposes.
Conclusion: Option (D) is the correct answer as it represents someone working abroad for an extended period, thus not a "normal resident" of India.
Read the following statements carefully:
Statement 1: Expost savings and Expost investments are equal at all levels of income.
Statement 2: Under the effective demand principle, the equilibrium output is equal to exante Aggregate Demand (AD). In the light of the given statements, choose the correct alternative from the following:
The level of income where Average Propensity to Save (APS) becomes zero is at Income = Rs. 100 crore, since savings (\( S = Y - C \)) equals zero at this point.