Define disguised unemployment. State its implications on output and employment in a country.
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, leading to lower productivity.
Stagnant Economic Growth: Excess labor in low-productive sectors like agriculture fails to contribute effectively to GDP.
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___________ farming is a system that is helpful in restoring, maintaining and enhancing the ecological balance.
(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.
(iii) The Government revoked the policy of Special Economic Zones.Read the following statements: Assertion (A) and Reason (R). Choose the correct alternative from those given below:
Assertion (A): In the recent past, Indian economy has been facing the problem of jobless growth.
Reason (R): Jobless growth refers to a situation where an economy is able to produce more goods and services without generating additional employment.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.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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The Government of India, in the initial years of economic development, emphasized on a greater role of the public sector in the industrial development.
Justify the statement, giving reasons in support of your answer."If actual demand for final goods falls short of the actual output of final goods corresponding to full employment level, it may lead to an unintended accumulation of inventories."
Do you agree with the given statement? Give valid reasons in support of your answer.- Complete the following table. Construct the consumption function at ₹ 200 crore level of income. \[ \begin{array}{|c|c|c|c|} \hline \textbf{Income (Y)} & \textbf{Savings (S)} & \textbf{(APC)} & \textbf{(MPS)} \\ \hline 0 & -50 & -- & -- \\ \hline 100 & 0 & 1 & 0.5 \\ \hline 200 & 50 & \frac{3}{4} & 0.5 \\ \hline 300 & 100 & \frac{2}{3} & 0.5 \\ \hline \end{array} \]
Read the following text carefully: Decisions taken by factors of production in the production process often may affect the stakeholders indirectly. Such impacts at times are huge but are not accounted for, while estimating national income. Economists call them as externalities and they can be positive or negative.} {In this regard, many economists suggest carbon pricing as an important tool to ensure ecological balance. Carbon pricing tries to control greenhouse gas emissions by either placing a fee on emitting or offering subsidies on lesser emission. Through instruments like carbon tax, green cess, eco tax, etc. economists suggest moving towards greener technology eliminating such negative externalities.On the basis of the given text and common understanding, answer the following questions:
(i) Define externalities.- State any two strategies to achieve the objective of sustainable development.
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