Define disguised unemployment. State its implications on output and employment in a country.
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Solution and Explanation
Definition: Disguised unemployment refers to a situation where more people are employed than required, resulting in zero or negligible marginal productivity.
Implications: Inefficient Labor Use: Resources are underutilized, and overall economic productivity remains low.
Lower GDP: Excess labor in low-productive sectors like agriculture fails to contribute to GDP growth effectively.
Hidden Unemployment: The extra workforce could be redeployed to other sectors without affecting current output levels.
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(Choose the correct alternative to fill in the blank):The present day rapid industrial growth in China can be traced back to the economic reforms introduced in 1978, where ________ .
(Choose the correct alternative to fill in the blank):
(i) Initially reforms were initiated in agriculture, foreign trade and investment sectors.
(ii) The policy of dual pricing was adopted.
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Assertion (A): In the recent past, Indian economy has been facing the problem of jobless growth.
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Statement 1: India, Pakistan, and China have similar physical endowments but totally different political systems.
Statement 2: Both India and Pakistan laid great emphasis on creating a large private sector.Read the following statements carefully:
Statement 1: India, Pakistan and China have similar physical endowments, but totally different political systems.
Statement 2: Both India and Pakistan laid great emphasis on creating a large private sector.
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Identify the sources of Human Capital Formation and choose the correct alternative to fill in the blanks.
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(Choose the correct alternative to fill in the blank):- Read the following statements carefully: Statement 1: India, Pakistan and China have similar physical endowments, but totally different political systems.
Statement 2: Both India and Pakistan laid great emphasis on creating a large private sector. - “Recently, the Government of India launched Jan-Dhan Yojana.”
In the light of the given statement, discuss briefly the objectives of this scheme. 
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