Read the following statements carefully:
Statement 1: Outsourcing is one of the important outcomes of the globalization process.
Statement 2: Owing to globalization, many Indian companies have expanded their operation abroad.
Read the following statements carefully:
Statement 1: Outsourcing is one of the important outcomes of the globalization process.
Statement 2: Owing to globalization, many Indian companies have expanded their operation abroad.
Show Hint
- Statement 1 is true and Statement 2 is false.
- Statement 1 is false and Statement 2 is true.
- Both Statement 1 and 2 are true.
- Both Statement 1 and 2 are false.
The Correct Option is C
Solution and Explanation
- Statement 1 is true: Outsourcing, a key feature of globalization, involves contracting out services or jobs to other countries. This is a common practice in industries such as IT, customer service, and manufacturing.
- Statement 2 is true: Globalization has allowed Indian companies, particularly in the IT and service sectors, to expand their operations abroad, taking advantage of lower production costs and accessing new markets.
Conclusion: Both statements are true, as outsourcing and international expansion of Indian companies are direct results of globalization.
Top Questions on Inflation and unemployment
- Which of the following is NOT a source of data on unemployment in India?
- CUET (UG) - 2024
- Economics
- Inflation and unemployment
- Consider the information given in the table below:
Year Unemployment Rate (in percent) Number of unemployed (in millions) Labour Force Participation Rate (in percent) 2010 15 30 70 2020 20 50 80
The percentage change in working-age population from 2010 to 2020 is __________ (rounded off to two decimal places).- IIT JAM EN - 2024
- Macroeconomics
- Inflation and unemployment
- Suppose expected inflation rate ($\pi^e_t$) of an individual is formed as:
$\pi^{e}_t = (1 − \theta) \overline{\pi} + \theta \pi_{𝑡−1}$
where, $\overline{\pi} $ is constant inflation rate, $\pi_{t−1}$ is previous year’s inflation rate, and $ 0 \leq \theta \leq 1$ is weight assigned to inflation rate at different points in time.
Then, which of the following is NOT CORRECT?- IIT JAM EN - 2024
- Macroeconomics
- Inflation and unemployment
- Consider a short-run Phillips curve with a constant expected rate of inflation. If the aggregate demand decreases unexpectedly and the labour force remains the same, then what will happen to aggregate price and unemployment rate?
- IIT JAM EN - 2024
- Macroeconomics
- Inflation and unemployment
- Individuals who were either unemployed or out of labour force but had worked for at least 30 days over the reference year were included in the labour force by the NSSO in its labour force surveys. Under which one of the following classifications does the above procedure appear?
- IIT JAM EN - 2024
- Macroeconomics
- Inflation and unemployment
Questions Asked in GATE XH-C1 exam
Here are two analogous groups, Group-I and Group-II, that list words in their decreasing order of intensity. Identify the missing word in Group-II.
Abuse \( \rightarrow \) Insult \( \rightarrow \) Ridicule
__________ \( \rightarrow \) Praise \( \rightarrow \) Appreciate
- A car started from city P at 9:40 AM. The time taken for the car to reach city Q is 4 hours and 50 minutes. The time of arrival of the car at city Q is:
- Consider a three-firms oligopoly market with a linear demand function given by \( P = 25 - Q \), where \( P \) is the unit price and \( Q \) is the total quantity supplied. The total quantity \( Q = q_1 + q_2 + q_3 \), where \( q_i \) is the output from the \( i^{th} \) firm with \( i = 1,2,3 \). The total cost (TC) curve of firm \( i \) is given by \( TC_i = \alpha_i + 5q_i \), where \( \alpha_i \)'s are positive real numbers. Assuming a Cournot solution exists, the value of \( Q \) is:
- GATE XH-C1 - 2025
- Demand analysis
- Consider a square field ABCD. The diagonal AC is 50 meter. The cost of laying grass in the field is Rs. 5 per square-meter. The total cost for laying grass in the field ABCD is Rs. ________ (rounded off to two decimal places).
In the following figure, four overlapping shapes (rectangle, triangle, circle, and hexagon) are given. The sum of the numbers which belong to only two overlapping shapes is ________
