List-I | List-II | ||
---|---|---|---|
A | Money supply is exogenously given. | I | Post-Keynesian school |
B | Money supply is demand driven and credit led. | II | Say’s law |
C | Rational expectation. | III | Monetarism |
D | Supply creates its own demand | IV | Neo-classical school |
(A) *Money supply is exogenously given.* This is a core tenet of Monetarism, which is independent of demand.
(B) *Money supply is demand-driven and credit-led.* This aligns with the Post-Keynesian school, as money.
(C) *Rational expectation.* This is a key component of the Non-classical school, which assumes agents anticipate policy effects rationally.
(D) *Supply creates its own demand:* This is Say's Law, a principle within classical economics.
Thus, the correct matching is: (A) - (III), (B) - (I), (C) - (IV), (D) - (II). Hence, the correct answer is (d).
Read the following text carefully from ‘The Economic Times’ dated 8th June, 2023:
{“The Reserve Bank of India’s (RBI’s) rate-setting panel unanimously decided to keep the benchmark lending rate unchanged at 6.5%. The committee voted to remain focused on the withdrawal of accommodative monetary policy.”}
On the basis of the given text and common understanding, answer the following questions: (a) Identify and discuss the economic issue indicated in the above text.
“Amita is a regular worker in a private firm that employs twelve hired workers.” Is she working in the formal/informal sector? Give valid reasons in support of your answer.
Discuss any two liberalization measures pertaining to the tax reforms, introduced by the government, during the economic reform process of 1991.
“Information Technology can play a crucial role in rural development.”
Discuss briefly the given statement.
From the type of workers given in Column I, identify the correct nature of work in Column II: