Sticky wage model #shorts #sticky_wage_model #aggregatesupply #macroeconomics #economics #supply

Given below are six sentences of a passage. The first and sixth sentences are given in the beginning as SI and S6. The middle four-sentence in each have been jumbled up and labelled as P, Q, R and S. You are required to find the proper sequence of the four sentences. S1: The Nobel Prize for Economics in 2018 was awarded to Paul Romer and William Nordhaus for their work in two separate areas: economic growth and environmental economics respectively. S6: Among recent winners of Nobel Prize in Economics, it's hard to think of one issue which is more topical and relevant to India. P : But there is a common thread in their work. Q : In economic jargon it's termed as externality. R : Productive activity often has spillovers, meaning that it can impact an unrelated party. S: Romer and Nordhaus both studied the impact of externalities and came up with profound insights and economic models. The correct sequence should be

Econometric models like the computable general equilibrium model are mostly valuable in policy formulation as they give some insight into how trade policy changes will affect the sectoral composition of output and employment. They are not in themselves designed to provide direct inputs but really to serve as background as to the sectors that will be most favourably or most unfavourably affected by policy. Besides, they render valuable help in policy matters regarding free trade. Free trade has distinct benefits. These benefits are well accepted all over. However, there is a growing opposition to free trade. There is an increasing perception among certain groups of how international trading systems impact, especially how they affect low-wage workers and also have a degrading environmental impact.' Yet it is difficult to accept that is the reason for any kind of protectionist move in the most advanced countries. In the passage 14, which of the following statements is definitely true in the context of the passage? A Despite the advantages of free trade, it is not whole- heartedly acclaimed by most advanced countries. B. Policy formulation should be solely dependent on econometric models. C. Reasons for model protectionist approach by advanced countries are not given in the passage.

Econometric models like the computable general equilibrium model are mostly valuable in policy formulation as they give some insight into how trade policy changes will affect the sectoral composition of output and employment. They are not in themselves designed to provide direct inputs but really to serve as background as to the sectors that will be most favourably or most unfavourably affected by policy. Besides, they render valuable help in policy matters regarding free trade. Free trade has distinct benefits. These benefits are well accepted all over. However, there is a growing opposition to free trade. There is an increasing perception among certain groups of how international trading systems impact, especially how they affect low-wage workers and also have a degrading environmental impact.' Yet it is difficult to accept that is the reason for any kind of protectionist move in the most advanced countries. In the passage 14, the author of the passage seems to be

An Auto Company, Win ltd is facing a problem of declining market share due to increased competition from other new and existing players in the market. Its competitors are introducing lower priced models for mass consumers who are price sensitive. The Board of Directors of the Company announced a meeting to discuss the decisions regarding pricing and launching a new range of models, in order to increase the market share of the company. Attending the meeting was not a discretion for the directors and a penalty was announced for not attending the meeting. The following decisions were taken in the meeting: a) to define the desired future position of the company, as acquiring a dominant position in the market by increasing the market share to 10 in 1 year. b) to change the criteria for choosing vendors for procuring supplies, c) to invest in development of the human resources of the organisation by providing training to higher levels by holding seminars and providing on the job training for the supervisory management. What are standing plans and single use plans Briefly explain the plans discussed above, which can be classified as standing plans, by quoting the lines.

"zero Deffect Zero effect (ZED) is a slogan coined by the prime minister of india, narenger Modi with referance to the make in India initiative launched by the government. The slogan reflects the efficiency of production processes, i.e., the products have no defects and the process through which the product is made has zero adverse environmental and ecological effects. the Zed model alms to make india the manufacturing hub of the world and prevent the products developed in india from being rejected by the global market. moreover, before the initiative was launched, the limits of foreign direct invenstment in various sectors had bee relaxed. the application for licences was made available online and the validity of licences was increased to three years. various other norms and procedures were also relaxed by the government. In the light of above paragraph, identify and explain the major compoent of new economic policy of 1991 that are being referred to by quotting lines from the paragraph.

Ram used to live in a remote village of Rajasthan which didn’t have electricity. He was a good student and studied very hard to become an engineer in spite of all hardships. While studying, he came to know that solar energy can be converted to electrical energy by using specially designed devices. He went to his village and discussed it with villagers. He also told them that Govt. also gives subsidy for using solar devices. All the villagers agreed and they contacted the Govt. officials who obliged their request and the village became the model village which used solar energy for electricity. (ii) If direct solar energy is incident on the horizontal surface at an average rate of 200 watt per square metre and 20% of this energy can be converted to use electrical energy, then how much area is needed to supply 8 KW of electrical energy?