The economic recession of 2008 affected the market economics in genera

1.	The economic recession of 2008 affected the market economics in general and the US in particular. Thou-sands of Indians working abroad lost their job especially in IT and banking sectors and they returned to India.Evaluate its consequences on Indian economy with regard to the following macro variables.1. The value of GNP 2. General unemployment level 3. Foreign exchange rate
Answer» 1. The value of GNP decreases due to reduction in NFIA. 2. General unemployment level increases. 3. Foreign exchange rate increases.

The economic recession of 2008 affected the market economics in general and the US in particular. Thou-sands of Indians working abroad lost their job especially in IT and banking sectors and they returned to India.Evaluate its consequences on Indian economy with regard to the following macro variables.1. The value of GNP 2. General unemployment level 3. Foreign exchange rate

Answer»

1. The value of GNP decreases due to reduction in NFIA.

2. General unemployment level increases.

3. Foreign exchange rate increases.