NTA UGC NET/JRF Exam, Dec. 2020/June 2021 Economics

Non-random sampling is a sampling technique where the selection of elements for a study is based on factors other than probability, such as convenience, judgment, or experience.

Correct statements are:-
A. If observations are selected purposively, it is called a method of non-random sampling.
B. If observations are selected in an ad-hoc manner, it is called a method of non-random sampling.
C. If observations are selected on the basis of judgment, it is called a method of non-random sampling.

Geneva Round-The Geneva Round was the fourth session of General Agreement on Tariff and Trade (GATT) multilateral trade negotiations in Geneva, Switzerland. It started in 1955 and lasted until May, 1956. Twenty-six countries took part in the round. $2.5 billion in tariffs were eliminated and reduced.

2. Kennedy Round-The Kennedy Round, Geneva, 1964-1967.
In the sixth, the Kennedy Round, participation surged to more than 60 countries-66 nations attended the opening ceremony, pictured here, on 4th May, 1964 in Geneva.

3. Uruguay Round-The Uruguay Round was the largest ever international trade negotiation. It took place within the framework of the General Agreement on Tariffs and Trade (GATT) and was launched at Punta del Este, Uruguay on 20 September, 1986 and formally concluded at Marrakesh, Morocco, on 15 April, 1994.

4. Doha Round-The Doha round officially began in November 2001, committing all countries to negotiations opening agricultural and manufacturing markets, as well as trade-in-services (GATS) negotiations and expanded intellectual property regulation (TRIPS)

In case of indifference curve of two goods X and Y, as consumption of X increases MRSxy decreases. This is because if a consumer consumes more of good X, he will have to cut down on his consumption Y (implying that the two goods can be substituted for each other) if he has to remain on the same indifference curve his level of utility has to remain the same
The IC curve shows how much of good X is substituted for good Y.
As we move down X increases and units of good Y decreases implying decreasing MRSxy

Investment multiplier- The investment multiplier is an economic concept that measures how an increase in investment spending affects the economy as a whole.

In simple words, investment multiplier refers to the increase in the aggregate income of the economy as a result of an increase in the investment done by government in the form of new projects.

Formula that represents multiplier:
Κ = ΔΥ/ΔΙ AY
ΔY→ Increase in GDP or National Income.
ΔI→ Increase in Investment.

NIDHI, an Umbrella program was pioneered by the Department of Science and Technology (DST), government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups. Start up NIDHI aim to support 20 students startups each year financially.

Statements about gender budgeting:

Gender budgeting is a good budgeting approach: when done properly, gender budgeting can improve budgeting by addressing gender inequality and women's development needs.

Gender budgeting is not only for women:- Gender budgeting can benefit society as a whole by benefiting women and girls.

Gender budgeting considers gender's impact on policy areas:
To understand gender's impact on policy areas, one can create a list of ways gender may impact each area.

Gender budgeting considers gender-
Specific needs: Budget officials should be able to identify the gender-differentiated needs of public service beneficiaries.

Gender budgeting is an important tool: The gender Budget statement is an important tool for gender responsive budgeting.
Gender budgeting is prepared annually:
The GOI publishes the gender Budget statement annually.

Gender budgeting has two parts The gender budget statement has two parts: Part A for schemes exclusively for women, and Part B for schemes that have 30-99% of their funds allocated to women and girls.

Australia introduced the world's first women's Budget statement in 1984. This paved the way for other countries to follow suit.

The total population of city 'X' in 2011 was 28 Lakhs and the total number of live births was 50 thousand
Total population of city X = 2800000
Total no. of births = 50,000

Variation of risk attached with each alternative, when making decisions under uncertainty or risk. you can assess the risk associated with each alternative by quantifying the uncertainties and risks using probability distributions.

Important points
• When uncertainty is involved, altogether a different decision- making process will be followed. Consider an agent who is to make a choice between two possible investment projects offering different payoffs with respective probabilities.

• In a situation of decision under uncertainty, if a consumer faces equal expected income from two alternatives, then she/he will take decision on the basis of variation of risk attached with each alternative.