NTA UGC NET/JRF Exam, Dec. 2021/June 2022 Economics

PM Gatishakti is driven by seven engines.
(1) Logistic infro
(2) Railways
(3) Mass transport
(4) Roads
(5) Ports
(6) Airports
(7) Waterways.

A simultaneous equation model is said to be over-identified if more than one numerical values can be obtained for some of the parameters of the structural equations.

row × column
m × n
[3×3] matrix
determinant of A
⇒ 6(2×3-2×8) - 3(-10×3-8×5) + 5(-10×2-5×2)
=6(-10)-3(-70)+5(-30)
= -60 + 210 - 150 = 0
Matrix of determinant value came zero this means either one row or one column is zero so that rank will not be 3.

A, B, C and E are the correct statement.
Important points :-
The optimality is shown by the following conditions which prevail in the long-run equilirbium of the industry.
a) The output is produced at the minimum feasible cost.
b) Consumers pay the minimum possible price which just covers the marginal cost of the product, that is, price = opportunity cost.
c) Plants are used at full capacity in the long run, so that there is nowaste of resources. d) Firms only earn normal profit.
• For a firm to achieve long run equilirbium, the marginal cost must be equal to the price and the long run average cost. That is, LMC = LAC = P. The firms adusts the size of its plant to produce a level of output at which the LAC is minimum.

Shortage of seminconductor chips has been the reason for recent dip in vehicle registration inthe country.
• Automotive electronics :-
The shortage has increased the cost of producing cars by up to 5%. It has also imported the market for electric Vehicles (EVs) in India.
Note:-
The shortage has been ongoing since 2020 and has been attributed to factors such as:
(1) The COVID-19 pandemic.
(2) Vulnerabilitics and weak points in the semiconductor supply chain.
(3) The disruptive impacts of the pandemic or semiconductor companies.

(1) Jevon's Coal Question - 1865
(2) Raechel Canson's silent springs - 1962
(3) Bouldings "The Economics of coming spaceship Earth - 1966
(4) Limits to growth theorem - 1972
(5) Environmental Kuznets Curve Hypothesis - 1995

The correct match is as follows -

Various qualitative instruments used by the central bank during inflation is →
Raise margin requirement.
Important points :-
In case of inflation, the margin requirement is increased so that demand for loans are decreased and in case of deflation, margin requirements are decreased so that demand for loans are increased.

For example - a person mortgages his house worth one crore rupees with the bank for a loan of 80 lakh rupees.

The Survey added that total consumption is estimated to have grown by 7.0 percent 2021-22 with government consumption remaining the biggest contributor as in the previous year. Government consumption is estimated to grow by a strong 7.6 percent surpassing pre-pandemic levels.