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

General Economic Equilibrium is not related to Moral Hazard problem.
General equilibrium analysis is the branch of economics concerned with the simultaneous determination of prices and quantities in multiple inter connected markets. It contrasts with partial equilibrium analysismodels that consider only a single sector.

Key Points
General equilibrium theory, attempts to explain the functioning of of the macro economy as a whole, rather than as collections of individuals market phenomena.

Business cycles in ascending order in terms of their approximate duration.
1. Kitchin Cycle-The Kitchin Cycle is a short business cycle of about 40 months, identified in the 1920s by Joseph Kitchin. This cycle is believed to be accounted for time lags in information.

2. Juglar Cycle-Clement Juglar identified a 9 years economic cycle, popularly known in Technical Analysis as the Juglar Cycle. In this cycle, Juglar identified four phases: prosperity, cricis, liquidation and recession. The concept is that price movements are more likely to be predictable than random.

3. Kuznets Cycle-This theory was given by Simon Kuznets (1901-1985). The duration of Kuznet cycle is 15-25 years. This theory says as a country develops, there is a market-driven cycle that at first increases inequality, and then decrease it after a certain average income is attained.

4. Kondratiev Cycle-Long term cycle of boom that are followed by a cycle of depression. This cycle is also known as super-cycles, K-waves, surges, and long waves-refers to cycle, lasting about 40 to 60 years experienced by capitalist economies.

The 15th Finance Commission (FC) has recommended that during the period from 2021-22 to 2025-26, 41% of divisible tax pool of the center should be given to the states. Under Article 280 of the Indian Constitution, the President of India appointed the 15th Finance Commission under the chairmanship of N.K.

(1.) The degree of association is measured by a correlation coefficient, denoted by r. It is sometimes called Pearson's correlation coefficient after its originator and is a measure of linear association.
(2.) Yes. predictability is not part of correlation analysis can be used for Prediction correlation analysis: A statistical technique that studies the relationship between two or more variables.
It can help determine the direction and degree of the relationship between variables.

Prediction: correlation coefficient can be used to predict the value of one variable if the value of the other variable and the correlation are known.
Predictability: Predictability is not part of correlation analysis.

LPP could refer to linear Programming Problem, a mathematical technique that helps find the best solution to a problem.
A LPP is a set linear equations that helps find the optimal value of a linear function, or objective functionThe optimal value can be the maximum or minimum value.

A short-run production function is a relationship that shows how output changes when one factor of production is changed while other factor remain constant.

The short run is a time period when a business has chosen its scale of production and sticks with it.
Note:- diagram
Technology is assumed to be constant for a given production function relationship and labour is variable

Cooperative banks work on the principle of cooperation and are owned and operated by their members. In order to support the financial, such as a village or a specific community, such as a village or a specific community, people come together to pool resources and provide banking services such as loans, savings accounts etc.

Note:- Cooperative banks are different from commercial banks cooperative banks are owned by their member, while commercial banks are owned by share holders.

Agriculture and allied sectors of the economy registered highest growth rate in the second quarter of 2021-21 as per estimate of NSO.

According to the 2011 census, Himachal Pradesh had the highest share of rural population. Himachal Pradesh has a relatively low population with 6,864,602 inhabitants according to the 2011 Census.

The rural population is 6,176,050 with a rural percentage of 89.97%. Its urban percentage is 10.03%. It has the most percentage of rural population i.e. 89.97%