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.
Statement 1: This is true as India, Pakistan, and China share similar geographical features, such as fertile plains and river systems, but their political systems differ significantly.
Statement 2: This is false because: India initially emphasized a mixed economy with a significant public sector. Pakistan also prioritized state-led initiatives rather than focusing on creating a large private sector.
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 accommodating monetary policy.” On the basis of the given text and common understanding, answer the following questions: Identify and discuss the economic issue indicated in the above text.
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.
Assertion : In an ideal step-down transformer, the electrical energy is not lost.
Reason (R): In a step-down transformer, voltage decreases but the current increases.
