Question
Statement 1: Contributions to the PM-SYM scheme vary
based on the age at which a worker joins the scheme. Statement 2: The scheme allows for a one-time lump sum payment instead of monthly contributions. Which of the above statements is/are correct?Solution
Statement 1 is correct as the contribution amount under PM-SYM varies depending on the age at which the worker enrolls in the scheme. However, there is no provision for a one-time lump sum payment; contributions are made monthly.
The Stolper-Samuelson theorem is a result in international trade theory. According to this theorem, an increase in the price of a good will:
According to the Economic Survey 2023-24, what measures helped reduce core inflation in India to a four-year low in FY24?
The profit-maximizing monopolist will choose the price and quantity represented by point
Which of the following statements about graphs of short-run cost curves is false?
In the Mundell-Fleming model with a floating exchange rate and perfect capital mobility, what is the effect of an increase in the money supply?
An increase in the expected rate of inflation
Consider an economy described by the following equations:
C = 100 + 0.6 ∗ (Y − T) (consumption function)
“ All Giffen goods are inferior, but all inferior goods are not Giffen”. The statement is
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