Question
The macroeconomic curve depicting an inverse short-run
trade-off between inflation and unemployment is known as:Solution
The Phillips Curve, named after economist A.W. Phillips (1958), depicts the inverse short-run relationship between inflation and unemployment when unemployment falls, wages and inflation tend to rise, and vice versa. It became a key tool for macroeconomic policymaking. The Laffer Curve shows tax revenue vs. tax rate; the Kuznets Curve shows inequality vs. income; the Beveridge Curve shows job vacancies vs. unemployment; the Lorenz Curve shows income inequality. None of these describe the inflation-unemployment trade-off.
A listed company did not appoint a woman director on its Board. During audit, you find non-compliance continuing for 6 months. What is implication?
In a textile mill, cotton passes through spinning, weaving, and dyeing departments. Loss occurs at each stage. Which costing method is best suited?
Interest payable by a non-corporate assessee for deferment of advance tax is
Which regulatory body in India is responsible for overseeing and regulating the functioning of non-banking financial companies (NBFCs)?
The value of derivative is determined by
During audit, you find multiple vendors created under similar names, with round-sum payments made regularly below approval thresholds. Management insist...
The 'Lead Bank' in a consortium lending arrangement is responsible for:
Which type of insurance contract provides a guaranteed payout to the policyholder regardless of the occurrence of the insured event?
Investor A holds 42% of voting rights in TargetCo; the remaining shares are widely dispersed with no other holder above 3%. Investor A also has substant...
The reasons for employee turnover in an organization can be classified under 3 heads:
(a) Personal causes, (b) Unavoidable causes and (c) Avoidab...
