Explore topic-wise InterviewSolutions in Current Affairs.

All the restrictions by RBI and government which affect the exchange rate or the ; concerned markets are termed as exchange control.

1. Huge Expenditure on development.
2. Increase in consumption of imported goods.
3. High cost of production.

Main objective of foreign exchange market is expanding the foreign market and increasing foreign investment.

If, in any country’s trade, cost of import remains more than the cost of export for a specific time, it is an unfavourable trade condition for that country.

Trade Balance is a record of import and export between two countries for one year.

It is that form of discrimination in which a manufacturer sells his products at a cheaper rate in foreign market in comparison to the domestic market.

Demand of foreign currencies are made by those individuals who want to import or want to pay for foreign service or want to invest in other countries.

Foreign currency demand is fulfilled through exports and by foreign investments.

The third element “error and omission”of Balance of Payment shows our incapability of accounting all the transactions.

The basic principle of ascertaining the exchange rate is determination of point at which the currency of one country’s demand and supply is equal.

There is an inverse relation between demand of foreign currency and exchange rate. Slope of demand curve of dollar is negative, i.e., downward sloping. It means lower the exchange rate higher the demand of dollar in India. In other words, prices of American goods and services will become cheaper in India.

The answer is (D) Raikas

Correct Answer is: (b) Fine

Correct Answer is: (c) Profit

Correct Answer is: (b) Four

(a) Hicks and Allen

(d) All of these

J.K. Mehta is the pioneer of Indian theoretical economics.

1. Tax 

2. Fees 

3. Duties 

4. Miscellaneous Sources – Gift, penalties.

Public income is the means while, public expenditure is the achievable objective. Public income is determined for public expenditure. Public expenditure is definitely beneficial for the society, and on the other hand people have to reduce consumption for public income. Therefore, its pure result is increase in welfare.

J . K .  Mehta

Professor Mehta has presented the ideas of each part with the definition of public finance. 

The views of Professor Mehta on public finance can be presented under the following headings :

i. Definition of Public Finance : Mehta has clarified that the meaning of the word public is the state. It studies the state’s financial resources and their consumption.

ii. Public Income : According to Professor Mehta, income is the means and public expenditure is the achievable objective. Public income is received for public expenditure. 

Professor Mehta has divided the public income into four parts :

1. Tax 

2. Fees 

3. Duty 

4. Miscellaneous Sources

iii. Public Expenses : According to Mehta, the public expenditure has the same place in public finance as consumption has in the study of economics. It is a resource dedicated by the state as a service to society. 

Professor Mehta has split public expenditure into a new form in two ways :

1. Fixed Expenses 

2. Variable Expenses

iv. Public Debt : According to Mehta, when a person starts borrowing the money, it becomes his habit. He does this without keeping his financial status in mind. This trend is also true in the context of states.

The atmospheric pressure changes continuously due to several factors. The most important factors among them are changes in temperature, water vapor content and rotational movement the earth. Hot air expands and exerts low pressure. Cold air contracts and exerts high pressure. In the months of January and June, there is significant difference in these conditions, and therefore there is difference in air pressure also in both these conditions.

In the month of January, center of low air pressure develops in the south – western coastal region and near Andaman – Nicobar islands group in India. While in northern India, condition of high air pressure is seen in mountainous parts and in north – western Rajasthan. The situation is absolutely opposite in the month of July. Due to high temperature, center of low pressure develops in north – western Rajasthan, western Haryana and Punjab, while in the south, the coastal parts and Andaman – Nicobar region show the condition of high air pressure as they become less heated up due to the effect of the ocean.

Practices such as female foeticide and female infanticide as well domestic abuse, etc. are root causes of unfavourable sex ratio in a region.

1. In Europe, women have better social and economic status. 

2. In the past, a large number of males migrated from this region.

Females are considered inferior to men in developing countries so there is high death rate of female infants in the comparison of boy infants. This tendency increases the unfavourable sex ratio.

The main characteristics of world population composition are: 

1. Generally, more youth population is found in developing countries but there is more old population in developed countries. 

2. Unbalanced age structure impacts the economy of a country inversely. 

3. There is more child population in the countries in which population is increasing rapidly.

The women have more natural resistance capacity than men. This is why they are more tolerant, forbearing and have higher life expectancy than those of men, but this natural – gift ends due to distinction, social abuses and domestic violence against them.

The ratio between the number of women and men in the population is called the sex – ratio. There is a great imbalance in sex ratio in developed and developing countries. 

1. It is due to gender discrimination. 

2. Sex ratio is unfavourable where female foeticide, female infanticide and domestic violence against women is prevalent. 

3. Lower socio – economic status of women. 

4. Death of women during child birth.

The unfavourable sex ratio is the condition in which number of females in a region becomes less than that of males.

The main cause of increasing urbanisation in developing countries is the process of rapid development in these countries. To obtain higher education, medical care and facilities etc, people from rural areas migrate to to the cities. After crossing the stage of demographic transition, these countries have proceeded towards the secondary and tertiary stages in urbanisation rapidly. Hence, a rapid increase of population in these countries is natural and obvious.

Sex ratio is an important indicator of the condition of women. Those regions and countries, where sex ratio is unbalanced, the sex ratio there is definitely in the disfavour of women. In such regions, practices such as female foeticide, female infanticide and domestic violence towards women is prevalent and the main reason for this is the inferior socio – economic status of women in these regions.

Age – sex structure means the ratio of females on males in different age groups of population. To express age – sex structure, population pyramids are used. 

Following factors are responsible for imbalance in age – sex structure.

1. Different birth rates: In the countries where high birth rate is found, the percentage of child age group (0 – 14 year) is always high, while the percentage of old age group (over 60 year) remains very low. On the other hand, in the developed countries of the world, due to low birth rate, the percentage of child group is low, but that of old group is high. Normally, more males take birth than of females in the world, this is why in the countries with high birth rate have more male children and so there is unfavourable sex ratio.

2. Difference between female and male birth rate: Due to lack of medical facilities in the developing countries, high infant death rate and high maternity death rate is found there. So in these regions, in age groups of 0 – 14 and 15 – 24, number of males is larger than the number of females. In the age group of above 65 years, female death rate is always less than the male death rate. Therefore, every country of the world has larger number of female population in this age group.

3. Migration: Generally, adults of the age group 15 – 59 always migrate for their living. In the regions from which the males migrate, number of females is always higher than male, but in the regions to where males go, the number of males is larger than number of females.

On the other hand, in developed countries of the world, female population migrating towards the cities from rural areas is found to be more. So, in the rural areas of developed countries, number of males is more than that of females.

Correct answer is (b) <INPUT>

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Correct answer is (a) Left

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(i) The table shows land use in different regions.

(ii) The region C has the highest land use under agriculture. 

(iii) The region I has the highest GDP. 

(iv) The country (region) K has more land use under forest. 

(v) The region G has the highest land use under category ‘other land’. Its GDP is 1391.5 billion dollars. 

(vi) The region I is having highest GDP in which there is 50% arable land, it means agriculture must be major activity.

The region A is having lowest GDP where land under permanent meadows and pastures is highest. It means there is limited development of agricultural activities.

It is surprising, region F where arable land is highest in percentage even then GDP is comparatively low, because the land under permanent crop is very less.

In region K, GDP is 5747.49 and land under forest is 66%. It must be because the development of lumbering activities and forest-based industries is greater.

The region G has the highest area under other land use (95.6%) and GDP 1391.25. This region must have developed activities other than agriculture and forestry.

Correct option: (b) agriculture

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Correct option: (c) Mining

(c) Both A and R are correct and R is correct explanation of A.

Correct option: (a) Only A is correct.

• The economic development in any country/region depends upon the quantity and quality of its people.
• Higher the numbers of people lower the per capita income, which indicates low development in the country/region.
• Lesser number of people in the country/region lead to shortage of skilled labour and limited development. Higher number of populations is good for the development of the country/region.
• The quality of people includes age structure, sex ratio, occupational structure, literacy rate, etc. If these aspects of the population are favourable, then there is development in the country/ region.
• Age group of people in the country also affects the development. If there are more people in the working age group then there is more economic development.
• Migration also affects the economic development of the region/country. If people migrate to any region it indicates employment opportunities and economic development.
• However, too much migration may create pressure of population on available resources and labour thus, adversely affecting the development of the country/region.