Implicit GDP Deflator

Anurag Educational Academy

👉Implicit GDP Deflator =Implicit Price Deflator
 =(Nominal GDP/Real GDP)×100

✔Nominal GDP-Gross domestic product at current or market price
✔Real GDP-Gross domestic product at base year price

👉GDP Deflator measures the level of price change(inflation) over the time

👉Pasche's Method(assumes Current year quantity as a weight)

👉Laspeyre's Method(assumes base year quantity as a weight)

👉Irving Fisher- (calculate the Geometric Mean using Pasche and Laspeyre's Method)

Playlist Link: "Only 10 Question"Series

#10 UGC NET/JRF PRACTICE QUESTION ECONOMICS

Anurag Educational Academy

👉Mutually Exclusive events

👉Mutually Exhaustive events

👉Mutually Likely Events

👉Random variable

👉Public Goods
    ✔Non-rival in Consumption
    ✔Non-excludibility
    ✔Non-rejectable

👉Entry Preventing Price(Limit Price)- J. S. Bain

👉Strong Ordering-P.A.Samuelson

👉Differential Rent-David Recardo

👉Four Consumption Surplus-J.R.Hicks

👉Revealed Preference Theory Ignored Substitution Effect and The Concept of Utility

👉IC curve for Bad Substitute, For Perfect Substitute and For Perfect Comlement, Bad Complement

👉Iso-Revenue Line- shows the various combinations of quantities whose sale yields the same revenue.

👉Iso-Cost Line- which shows the various combinations of factors that will result in same level of total cost.

👉Iso-Quant Curve or Iso-Product Curve or Production Indifference Curve- shows the different possible combinations of two factor inputs yielding the same amount of output.

👉Production Possibility Curve (PPC) or Production Possibility Frontier(PPF) or Transformation Curve- shows the alternative production possibilities facing an economy.



Playlist Link: "Only 10 Question"Series

Reserve Requirements

Anurag Educational Academy

This video contain questions and their answers on the basis of UGC NET/JRF (Economics) Syllabus as well as brief discussion about the following important topics:

Policy -
1. Fiscal Policy- Owned by Government
2. Monetary Policy- Owned by Central Bank
👉Monetary Policy- Monetary Measures-(Quantitative and Qualitative measures)
👉Quantitative Measures
✔Bank Rate
✔Repo Rate
✔Reverse Repo Rate
✔Reserve Requirement
     -CRR(Cash Reserve Ratio)
     -SLR(Statuary Liqidity Ratio)
✔Open Market Opration
     -Opration Twist
✔MSF(Marginal Standing Facilitie)
✔LTRO(Long term Repo Oprations)

Playlist Link: "Only 10 Question"Series

#09 UGC NET/JRF PRACTICE QUESTION ECONOMICS

Anurag Educational Academy

 👉Revealed Preference Theory-Paul A. Samuelson

👉Re-Statement of Quantity Theory of Money-Milton Friedman-1956

👉Rational Expectation Hypothesis-John Muth-1961
(People are rational in nature, forward looking Approach)

👉Financial Intermediaries-
   ✔Banks-Commercial Banks,Regional Rural Banks, Development banks,All Indian Finance Institution(NABARD,SIDBI,NHB...)
   ✔insurance companies-LIC,GIC...
   ✔pension funds-NPS,EPFO,...
   ✔mutual funds
   ✔NBFCs-Muthut Finance,Manapuram Gold Loan...

👉10th five year plan(2002-2007)

👉Reserve Requirement

👉Gross Root Planning=Panchayat Raj
   ✔Centre-State-District-Block-Village
   ✔73rd and 74th Constitutional Amendment in 24th April 1993
   ✔Panchayat Raj Divas-24 April
   ✔Committee-
    Balwant Rai Mehta Committee-1957
    Ashok Mehta Committee-1977
    GVK Rao Committee-1985
    LM Thungan Committee-1986
    VN Gadgil Committee-1989

👉Imlicit GDP Deflator



Playlist Link: "Only 10 Question"Series

Bretton-Woods System(1944-1971)

Anurag Educational Academy

This video contain questions and their answers on the basis of UGC NET/JRF (Economics) Syllabus as well as brief discussion about the following important topics:

👉Bretton-Woods System(1944-1971)
     ✔For:
1. Global Economic Stability
2. Promote International Economic Cooperation   

     ✔United Nation Monetary and Finance Conference

     ✔Bretton-Woods Agreement

      ✔constitutes two institutions

1. International Banks For Reconstruction and Development(IBRD) OR well known WORLD BANK:For Post war construction like, Poverty alleviation.....

2. International Monetary Fund(IMF):For Economic Growth of developing countries(To deal with external surplus and Deficit of its members)

  ✔Work in Force:1947

👉Bretton-Woods System was based on "Fixed Exchange Rates"

👉U.S. Dollar has made principal currency and pegged with gold and linked with other currencies.

👉Collapse:15 August 1971

👉U.S. came out from Fixed Exchange Rates to Floating or Flexible Exchange Rates and U.S. Dollars convert in to Fiat currency.....


Playlist Link: "Only 10 Question"Series

New Agricultural Policy(Green Revolution)

Anurag Educational Academy 

This video contain questions and their answers on the basis of UGC NET/JRF (Economics) Syllabus as well as brief discussion about the following important topics:

👉New Agricultural Strategy (Green Revolution)1966

  ✔3rd Five Year Plan

  ✔Plan Holiday- 3 times In India(total 6 years)

  ✔Pilot Project-7 district-Intensive Area Development Program(IADP)-1960

  ✔144 district -Intensive Agricultural Areas Programme (IAAP)-1965

  ✔Whole India Covered- High Yielding Varieties Programme (HYVP)-1966

  ✔ Norman D. Borlaug- Father of World Green Revolution 

  ✔M.S. Swaminathan- Father of Indian Green Revolution

  ✔Green Revolution also called Modern Agricultural Technology

Playlist Link: "Only 10 Question"Series

#08 UGC NET/JRF PRACTICE QUESTION ECONOMICS

Anurag Educational Academy

This video contain questions and their answers on the basis of UGC NET/JRF (Economics) Syllabus as well as brief discussion about the following important topics:

👉Bretton Woods System

👉New Agricultural Policy

👉The Secular Deterioration In The Terms of Trade Hypothesis-1950-Raul Prebisch and Hans Singer

👉Adam Smith -Division Of Labour- 1776

👉Factor Endowment Theory- H-O Theory(1919-1933)

👉Real Balance Effect-D. Patinkin-1956

👉Tax On Inherited Property

👉Deprecation of Rupee

👉Devaluation of currency

👉Friedrich List-"The National System of Political Economy"-1841

👉Factor Price Equalization Theorem- H-O Theory

    ✔Paul A. Samuelson-1948- "International Trade and The Equalization of factor Price"

👉Opportunity Cost Theory-G. Von Haberler-1936

👉Absolute Cost Advantage Theory-Adam Smith



Playlist Link: "Only 10 Question"Series