- Both statements are correct:
- The market mechanism mentioned in Assertion (A) focuses on economic reforms and liberalization in China.
- Social infrastructure creation, mentioned in Reason (R), contributed to improvements in human development indicators.
- However, the reason does not directly explain the market mechanism in Assertion (A), as they refer to different strategies.
Identify which of the following options indicate the incorrect components combination of Agriculture Marketing System:
For a hypothetical economy, assume the government increased infrastructural investment by ₹10,000 crore. 80% of additional income is consumed in the economy. Estimate the increase in income and the corresponding increase in consumption expenditure in the economy.
Read the following statements: Assertion (A) and Reason (R). Choose the correct alternative from those given below:
Assertion (A): The equilibrium level of income is determined when ex-ante spending and ex-ante output are equal.
Reason (R): The equilibrium level of income may or may not be the same as the full employment level of output.