Read the following statements – Assertion (A) and Reason (R). Choose the correct alternative given below:
Assertion (A): World Trade Organization (WTO) is expected to establish the rule-based trading regime, to avoid unilaterally placed arbitrary restrictions by member nations.
Reason (R): It is imperative to enlarge world production and ensure optimum utilization of world resources along with environmental protection.
Assertion (A): The WTO promotes free and fair trade globally, ensuring that trade rules are transparent and consistent to prevent arbitrary trade barriers.
Reason (R): Enlarging world production and optimal resource utilization are aligned with the WTO's goals, including fostering sustainable development.
Linkage: Both statements are true, and Reason (R) explains the broader objectives of Assertion (A).
Suppose in an imaginary economy, autonomous consumption = ₹ 500 crore and marginal propensity to consume = 0.8. The saving function for the economy would be _________ .
Identify the incorrect statement with reference to Cash Reserve Ratio (CRR):
“Depreciation of currency may promote exports of a nation.”
Defend or refute the given statement with valid arguments.
“Accommodating transactions are undertaken to maintain stability in the Balance of Payments Account.”
Justify the given statement with a valid explanation.
Read the following statements: Assertion (A) and Reason (R). Choose the correct alternative from those given below:
Assertion (A): The maximum value of Marginal Propensity to Save (MPS) can be unity.
Reason (R): At the break-even level of income, savings are zero.