Explore topic-wise InterviewSolutions in .

No, it is not. Income from exports is a part of domestic income. Because, what we export is a part of domestic product. .Import is just the opposite of exports .thus, net of exports is a component of domestic product or expenditure on domestic product.

It is wrong that there is no aggregation in microeconomics, in microeconomics that we study the concepts of Market demand which is aggregate of individual demand for a commodity. However the difference lies in the degree of aggregation. While in microeconomics, aggregation is at an individual household, individual industry or an individual market but on the other hand in macroeconomics aggregation is done at the level of an economy as a whole.

Those goods that can be consumed in place of other goods are called substitute goods.
Example: Tea and coffee are goods that can be substitutes for each other. If the price of tea increases, then the demand for tea will decrease and people will substitute coffee for tea,
which will increase the demand for coffee.
The demand for a good move in the same direction as the price of its substitutes.
Price of tea(P_T) increases → Demand for tea (D_T) decreases → Demand for coffee (D_C) increases.

~ (A ∧ B) ∨ (~ A ⇒ B) have all 1's, therefore Proposition is a tautology.

From the question, we have four inputs A, F, C, I and on output X. The truth table for given variables is shown.

So, the SOP expression is

A' F' C' I + A' F' C I' + A' F' CI + A' FC' I + A' FC I' + A' FCI + AFC' I' + AFC' I + AFC I' + AFCI

Direct iodination of benzene is not possible because Iodination is slow and has an unfavourable equilibrium constant.

A collection of people who may be present at a place by chance is called a crowd.

Yoga, meditation, pranayam, vipassana, asanas, SKY, kundalini yoga.

a. Cognitive therapy helps to know the causes of psychological stress in irrational thoughts and beliefs - Aaron Becks theory of psychological distress is characterized by anxiety and depression. - Being therapist the client can be helped to change the irrational belief and the negative thoughts by making a change in his her philosophy about life - The therapist uses gentle questioning which is non-threatening in nature - This helps him/her to gain insight into the nature of their dysfunctional schemas and change their cognitive structures. 

b. Albert Ellis RET - ABC analysis - Change of thoughts with ‘musts’ and ‘shoulds’ - Interviews and questionnaires are used. - Process of non-directive questioning to replace irrational belief system. 

Psychoanalytic therapy by Freud 

Transference – positive and negative 

Resistance- conscious and unconscious

D. Demand deposit facility is like cheque

a. Both A and R are true and R is the correct explanation of A

B iii –iv—i--ii  

Secularism is the foundation of our country –

(i) There is no official religion of India.

(ii) Our constitution does not give a special status to any religion.

(iii) The constitution prohibits discrimination on ground of religion.

(iv) The constitution provides all individuals and communities freedom to profess, practice and propagate any religion or not to follow any religion.

(v) The constitution allows the state to intervene in the matters of religion in order to ensure equality.

(vi) Any other relevant point.

Any three points to be examined.

Detailed Answer :

Secularism is not an ideology of political parties but is the foundation of our country because –

(i) There is no official religion for the Indian state, unlike the status of Buddhism in Sri Lanka, Islam in Pakistan. the Constitution of India prohibits discrimination on the grounds of religion.

(ii) The separation of religion and state is the foundation of secularism. It ensures religious groups don’t interfere in affairs of state, and the state doesn’t interfere in religious affairs.

(iii) Secularism seeks to ensure and protect freedom of religious belief and practice for all citizens.

(iv) The Constitution provides to all individuals and communities the freedom to practice, profess and propagate any religion.

Factors in deciding outcome of politics on social divisions –

(i) How people perceive their identities.

(ii) How political leaders raise the demand of any communities.

(iii) How government reacts to these demands.

(iv) Any other relevant point.

Three points to be explained.

Detailed Answer :

There are three factors that determine the outcome of politics of social divisions :

(i) People’s perception is the most important factor which decides the outcome of politics of social divisions. If

people see their identities in singular and exclusive terms, it will lead to social division and even violence.

(ii) The outcome depends on how political leaders raise the demands of any community. It is easier to

accommodate demands that are within the constitutional framework and are not at the cost of another community.

(iii) It depends on how the government reacts to demands of different groups.

The answer is (B) 1888

Multiplier is Directly related to MPC.

Over full employment equilibrium refers to a situation when AD is equal to AS beyond the full employment level. 

Monetary policy is the policy of the central bank of a country to regulate money supply and credit in the country. 

Following are instruments of monetary policy : 

(i) Bank rate policy – Bank rate is the minimum rate at which commercial banks rediscount its eligible securities or borrow from the central bank. Bank rate is raised to discourage frequent borrowings and vice-versa. As the commercial banks are required to pay more for the financial accommodation, commercial banks can only be expected to lend at higher rates of interest. 

(ii) Open market operations – Open market operations consist of buying and selling government securities in the market by the central bank. When central bank sells government securities to commercial banks, these banks lose equivalent amount of cash reserves. This reduces the availability of credit. Similarly, if central bank purchases government securities from commercial banks, liquid position of commercial banks improves and availability of credit is more. 

(iii) Varying reserve requirements – Commercial banks are required to maintain reserves with the central bank on account of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). Linder Cash Reserve Ratio, the banks are required to deposit with the central bank a percentage of their net demand and time liabilities. An increase in the CRR will lower the banks’ ability to give credit. SLR requires the banks to maintain a specified percentage of their net total demand and time liabilities in the form of liquid assets. If SLR is increased, the ability of banks to give credit reduces.

Over full employment level refers to a situation when equilibrium is attained, i.e., aggregate demand is equal to aggregate supply beyond the full employment level. 

 (b) Excess supply

(a) Excess demand

An economy is said to be operating at under employment equilibrium level, if the planned aggregate expenditure falls short of available output in the economy, corresponding to the full employment level. It results into excess of output available over the anticipated aggregate demand at full employment level. To tackle such a situation the aggregate demand has to be increased up to the level that the stocks can be cleared. 

Following measures may be taken for the same: 

(i)  Decrease in taxes:  The government under its fiscal policy may decrease the rate of taxes (both direct and indirect taxes). This will ensure greater purchasing power in the hands of general public. This will help to increase aggregate demand and remove the deflationary gap.

(ii) Increase in money supply: Central bank through its expansionary monetary policy can increase the money supply in the economy. Central bank can use tools like bank rate, cash reserve ratio, repo and reverse repo rates etc. to ensure greater money in the hands of general public which would in turn increase the aggregate demand in the economy and be helpful in reducing/removing the deflationary gap.  

The given statement states about the insufficiency of the installed capacity of production of power in India. If the Indian economy wants to touch the GDP growth rate between 7-8% it must target to produce electricity with a growth rate of 7% which is not possible with the present production capacity in the power sector. Thus, we need to work in two directions to improve installed capacity: 

(i)  increased investments (by both public and private players) in the power generation sector.

(ii)  better utilization of the present infrastructure. 

The given statement is quite appropriate. Indian traditional practices were environment friendly and worked as complementary to the system and not its controller. The traditional agriculture system, healthcare system, housing, transport etc. were intrinsically environment friendly. The traditional practices used natural products and processes which are more or less free from side effects. For example by adopting medicinal plants/products we can conserve the resources and achieve the objective of sustainable development. 

Correct option (c)  1988 

(1) Setting objectives for a given time period.

(2) Formulating various courses of action to achieve them. 

(3) Selecting the best possible alternative from among the various courses of action available. 

Following are the main aspects in the concept of planning : 

1. Setting objectives – The first aspect of planning is the setting up of objectives for a given time period. There should be clear-cut objectives as a whole as well as for each department thereof. Objectives must be capable of being achieved in future. 

2. Listing the alternatives – Generally, there are various courses of action to achieve objectives. Planners should list all available alternatives. 

3. Selecting the best alternative – The planners should examine each alternative thoroughly in the light of their strong and weak points. The best alternative under the circumstances should be selected.

Following points highlight the need for consumer protection : 

(i) Widespread exploitation of consumers – There is widespread exploitation of consumers in various ways given below : 

• Underweight and under measurements 
• Charging high prices 
• Fake or duplicate goods 
• Adulteration and impurities 
• Misleading advertisements. 

(ii) Unorganised consumers – Consumers in India are, more or less, unorganised. There are a few consumers organisations but they are not powerful to protect the interest of consumers. 

(iii) Social responsibility – A business has social responsibilities towards various groups. Consumers form an important group among the many stakeholders of business. Hence, business has to take care of interests of consumers.

1. Controlling helps in judging accuracy of standards – A good controlling system enables management to verify whether standards set are accurate and objective. An efficient controlling system keeps a careful check on the changes taking place in the organisation and in the environment and helps to review and revise standards, if necessary. 

2. Controlling helps in ensuring order and discipline – Controlling creates an atmosphere of order and discipline in the organisation. Controlling helps to minimise dishonest behaviour on the part of the employees by keeping a close check on their activities.

Following are the features of money market: 

1. Short-term funds – Money market is essentially a market for short-term funds 

i.e., funds whose perk>4 of maturity is not more than one year. 

2. Liquidity – Money market instruments are highly liquid. Money market instruments are close substitutes for money as there is a formal arrangement for their liquidity. 

3. Less risky – Money market instruments are generally much safer with a minimum risk of default.

1. Supervision means guiding the efforts of employees and other resources to achieve desired results. 

Supervision – ‘it employs 10 operating managers support to the workers’. 

2. Motivation means stimulating people to action to accomplish desired goals.

 Motivation – ‘to pay double wages for working overtime and triple wages for working on holidays’.

I think that company is lacking some qualities of management like achieving group goals, working as a group efficiently and effectively. Here production department, marketing department and finance department are not working unitedly for achieving the goals of the organization due to which return on investment and market share is declining. 

To bring company back on track, proper coordination should be ensured. Coordination will help in integrating activities of separate units of an organization to accomplish the goals efficiently. In this case, work assigned to different departments (here, production, marketing, finance), units and individuals must be coordinated by all managers at various levels as a regular function. Favorable environment should be created where departments instead of blaming each other can work in harmony with each other for improving the current situation of the company. 

(a) Objective: Objectives are the desired end results towards which organisational activities are aimed. Objective are statements of results to be achieved in particular areas of business during a specified period of time. They provide a sense of direction, the rationale or justification for the existence of organisation, for example, to raise market share of our product by organisation for 5% over a period of 2 years.

(b) Procedure: A procedure is a series steps that make up a chronological sequence, as an established way of performing the work to be accomplished. It gives a sequence of actions to be followed in particular circumstance to complete a work. For example, procedure for selection of the candidates includes the following steps: Preliminary Screening, Selection Tests, Employment interview, Selection decision, Medical examination, Employment contract, Induction and placement.

Planning and controlling are mutually interrelated and inter-dependent activities because:

(i) Controlling is based of planning: Planning provides standard used in controlling to compare with actual performance.

(ii) Planning without controlling is meaningless: Controlling ensures that commitments under the plans are fulfilled and events confirm the plans.

(iii) Planning is prescriptive and controlling is evaluative: Planning prescribes the most appropriate course of action for achieving objectives while controlling evaluates where decision have been translated into desired actions.

(iv) Both are forward looking: planning is looking ahead as it is based on forecast about future and prepared for future only. Controlling aims also to improve future performance, if found any deviations.

(v) Both are looking back: Controlling is looking back it measures and compares actual performance with standards fired in the past. Planning is also a backward looking function as plans are guided by the past experiences.

Compare/ Contrast 

China 

(a.) The Chinese did not go for shock therapy but opened their economy step by step. 

(b.) The privatization of agriculture began in 1982 and was followed by the privatization of industry in 1998. c. Trade barriers were eliminated only in special economic zones (SEZs) where foreign investors could set up enterprises. d. In China, the state played and continues to play a central role in setting up a market economy 

USSR; 

(a.) Shock therapy Gorbachev ahead of his times with Perestroika and Demokratizatsiya and Glasnost 

(b.) Sudden shift to Liberal Capitalism collapse of Economy. Rise of Mafia - Garage sale of Industries. 

This statement is True.

Reasons :

1. Lok Adalat is an alternate mode of dispute resolution. It is set up by the government to settle disputes of consumers through compromise.

2. The cases which are pending in courts and which can be settled through compromise are transferred to Lok Adalat if, both the parties agree or one of the parties makes an application and the court sees a chance of compromise.

3. No court fees is charged by the Lok Adalat.

4. If the matter is not resolved in the Lok Adalat then it is returned to the regular court. Thus, The Lok Adalat resolves disputes in a very smooth manner and it can be rightly described as ‘people’s court’.

Dense network of airways exists in Eastern USA, Western Europe and South East Asia. USA alone accounts for 60% of the world airways. New York, London, Paris, Amsterdam, Frankfurt, Rome, Moscow, Karachi, New Delhi, Mumbai, Bangkok, Singapore, Tokyo, San Francisco, Los Angeles and Chicago are the nodal points where air route coverage is maximum.

(a) World class medical facilities in hospitals of metropolitan cities

(b) Providing variety of medical treatment at lower cost.

Average income, i.e., per capita income is important but not the only criterion for development. Along with average income, equitable distribution of income in a country should also be considered.

If the national income is widely distributed among the people, It shows a better distribution of income. High per capita income combined with a better distribution of income is a good index of economic welfare.

No, just framing policies and spending money in the health and education facilities does not guarantee the success of the programme, there are other factors that impact its success. 

(i) Effective implementation and monitoring of the policy mechanism by government officials. 

(ii) Remove corruption from the society. 

(iii) Curbing socio-economic inequalities. 

(iv) Creating a level of awareness about government policies and programmes through local bodies and village communities. 

Income is not only the criterion but it is one of the important indicators of economic development.
Some of the other attributes are :
(i) Infant Mortality Rate: It is an indicator of the availability of doctors and medical facilities in the region as well as the awareness of the people living there in regard to diseases and their prevention.
Low infant mortality rate indicates good medical facilities and all round development in the society. A high rate will be an economic loss for the region as much effort is wasted, which could have been harnessed.
(ii) Literacy Rate: This is an indicator of the number of schools and teachers available in a region and also indicates whether the facilities are being used or not due to societal pressures. Low literacy rate shows backwardness and there will not be fast economic development.
(iii) Life Expectancy: This is also an indicator of available health facilities. Low life expectancy will be a hindrance to economic development.

Globalisation has been advantageous to producers in the following ways : 

(i) The producers now have access to the international markets. 

(ii) Globalisation has also enabled free movement of capital, i.e., via electronic transfers, etc. 

(iii) Globalisation has enabled access to foreign investment in capital and technology via Foreign Direct Investment, etc. 

Globalisation has been advantageous to consumers in the following ways : 

(i) Globalisation has led to employment generation, as a result, beneficial to the consumers. 

(ii) Globalisation has also given rise to intense competition due to opening up of markets to foreign companies. As a result, this has led to the increase in product quality and decrease in the prices of the products. 

(iii) The consumers have benefited from the arrival of MNCs as they have now larger choice in the goods that are available to them in the market.

Legal measures taken by the government to empower consumers in India are plenty. First and foremost being the COPRA in 1986. Then, in October 2005, the Right to Information Act was passed, ensuring citizens all information about the functioning of government departments. Also, under COPRA, a consumer can appeal in state and national courts, even if his case has been dismissed at the district level. Thus, consumers even have the right to represent themselves in consumer courts now. Also, Monopolies and Restrictive Trade Practices Act (MRTP Act) was enacted in 1984 to check unfair trade practices.

Globalisation and greater competition among producers has been advantageous to consumers :
(i) Globalization and greater competition among producers both local and foreign has been advantageous to consumers, particularly the well off sections of urban areas.
(ii) There is greater choice before these consumers who now enjoy improved quality and lower prices for several products.
(iii) People enjoy higher standards of living.
(iv) But the impact of globalisation has not been uniform among producers and workers.
(v) Services of the top Indian companies have been able to benefit from the increased competition.
(vi) They have invested in newer technology and production methods and raised their production standards.
(vii) Wide ranging choice of goods in our markets is a recent phenomenon and have brought changes in lives of people.

Globalisation has been advantageous to producers in the following ways :
(i) The producers now have access to the international markets.
(ii) Globalisation has also enabled free movement of capital, i.e., via electronic transfers, etc.
(iii) Globalisation has enabled access to foreign investment in capital and technology via Foreign Direct Investment etc.
Globalisation has been advantageous to consumers in the following ways :
(i) Globalisation has led to employment generation, as a result, beneficial to the consumers.
(ii) Globalisation has also given rise to intense competition due to opening up of markets to foreign companies. As a result, this has led to the increase in product quality and decrease in the prices of the products.
(iii) The consumers have benefited from the arrival of MNCs as they have now larger choice in the goods that are available to them in the market.

The value of find goods and services produced in each sector during a particular year provides the total production of the sector for that year.

one problem associated with it is value of intermediate goods will be counted twice if we count value of every goods included in a produced good therefore the value of only final goods and services are counted.

If the prices and the income are doubled, then the budget line will remain unchanged.
M₁ = Rs. 20, M₂ = Rs. 40
P₁ = Rs. 4, P₁ = Rs. 8
P₂ = Rs 5, P₂ = Rs. 10
Horizontal intercept =M₂/P₁ = 40/8 = 5
Vertical intercept =M₂/P₂ = 40/10 = 4
Slope =-P₁/P₂ = -8/10 = -0.8

Hence, the vertical intercept, the horizontal intercept and the slope of the budget line will remain the same. The new budget line will be the same as the old budget line but associated with higher income and higher prices of both the goods.

Desire for approval and recognition is a healthy motive-desire to be regarded as better stronger or more intelligent than a fellow human being or a fellow scholar is destructive as it is egoistic- can be injurious to both individual and society-therefore schools and teachers should not use this to motivate students to work – refute Darwin's theory of the struggle for existence and selectivity by saying that competition between individuals is as unnecessary as that between ants of a anthill.