Types Of Unemployment

Anurag Educational Academy

Unemployment:Person who are employable seeking a job but are unable to get a job.

Types:

1. Frictional Unemployment:
    ✔Left the current job and looking for another
    ✔Time-Lag between job
    ✔It is always exists in the Economy
    ✔Even in the Full employment
    ✔Also called Search Unemployment

2. Involuntary Unemployment:
      ✔Willing and able to work but don't get job

3. Voluntary Unemployment:
    ✔Also called classical unemployment
    ✔People do not want to get a job on existing wage rate
    ✔This is not a real unemployment
    ✔It does not consider during the calculation of Unemployment

4. Disguised Unemployment:
    ✔Employed person's Additional or Marginal productivity is Zero (MP=0)  
   ✔Generally seen in the Primary Sector(Agriculture Field)

5. Structural Unemployment:
   ✔Due to immobility in the labour market
   ✔Unskilled labour
   ✔In structurally weaker economy
   ✔Disparity between the knowledge and skill that are demanded by the employer

6. Cyclical Unemployment:
    ✔Also called Demand Deficient Unemployment
    ✔Long-Term unemployment

7. Seasonal Unemployment:
    ✔Less work in off season  


✔✔Now a days India is facing Structural as well as Cyclical Unemployment.


Playlist Link: "Only 10 Question"Series

#07 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:

👉High-powered money
  ( H=CC+Reserve with the banks)
👉RBI:
     ✔Established- 1 April 1935(Indian Regulating Act 1935)
     ✔Nationalization-1 January 1949
     ✔1st Governor- Osborn Smith
     ✔1st Indian Governor-C.D.Deshmukh

👉Unemployment(Video Link)

👉Excise Duties-Tax Revenue(Indirect Tax), Central Government Receipts (Video Link)

👉Pump-Priming: Injection of Money in the economy during Deflation.
Pump-priming is a process of Reinflation.

👉A.W. Phillips-1958-Phillips Curve(Trade off between Rate of Inflation and Rate of Unemployment)
Stable When the inertial Inflation Rate remain unchanged.
Long run Phillips curve is a vertical Straight line.

👉Stagflation:Higher the inflation with higher unemployment 

👉Vicious Cycle of Poverty-1961-Ragner Nurkse
"Probability Of Capital Formation In Under Developed countries "

👉2nd Five Year Plan(1956-1961)
   ✔P.C. Mahalnobis Model(Popularly known PCM Model)
   ✔Main Focus- Secondary Sector(Industries)
   ✔Iron Steel Plant
        📌Durgapur-West Bengal-with the help of Britain 
        📌Raurkela- Odisha-with the help of Germany 
        📌Bhilai- Chhatisghar-with the help of USSR Federation 
  ✔Prashat Chandra Mahalnobis:
       📌Father Of Indian Statistics 
       📌Birth 29 June -National Statistics Day
       📌Indian Statistical Institute-1932, Kolkata

👉After World War 2nd , K.N.Raj estimated the Balance of Payments first time for the RBI

👉A. K. Sen - Nobel Prize-1998
                      -Bharat Ratna-1999

👉Theory of Unlimited Labour Supply-A. Lwis-1954

👉Economic Actual Growth depends on two things-
       ✔Level of Saving
      ✔Capital Output Ratio
 📌Higher the saving, higher the investment
 📌Lower capital Output Ratio means that most efficient investment 
                                 (G=s/C)
Rate of Economic Growth =Level of Savings/Capital Output Ratio


Playlist Link: "Only 10 Question"Series

Sources Of Central Government Receipts

Anurag Educational Academy

Receipts: 1. Revenue Receipts
                2. Capital Receipts

1.Revenue Receipts:
✔ it does not create Government liabilities...
✔ There are two types of revenue receipts:
     (A) Tax Revenue Receipts
     (B) Non-Tax Revenue Receipts

(A) Tax Revenue: Two types- Direct Tax And Indirect Tax

      (i) Direct Tax Revenue; 

           Like: (a) Income Tax,

                     (b) Wealth Tax,

                     (c) Property Tax,

                     (d) Corporation Tax...

      (ii) Indirect Tax Revenue;
             Like: (a)  Sales Tax, 
                      (b) Service Tax,
                      (c) Central Excise Duties,
                      (d) Custom Duties...

(B) Non Tax Revenue:
       Like: (a) Interest on Lending, 
                 (b) Dividends, 
                 (c) Stamp Printing,
                 (d) Fees, 
                 (e) Penalties.....

2.Capital Receipts:
✔ It creates government liability as well as reduce the financial assets
✔ Like: Loans from general public(by issuing/selling bonds,securities...),Loans from foreign government,from RBI,From international institutions(World Bank, IMF.....)
✔ There are two types of Capital Receipts; 
(A) Debt Receipts
(B) Non-Debt Receipts


(A) Debt Receipts: it has to repay by the government

       Like; (a) Market Loans,
                 (b) Short-Term borrowing 
                 (c) Treasury Bills,
                 (d) State Provident Fund,
                 (e) Relief Bonds,
                 (f) Saving Bonds...

(B) Non-Debt Receipts: it does not create any future repayment
      Like; (a) Recovery of Loans and Advances,
               (b) Disinvestment(sales of the shares of the selected PSUs)



Playlist Link: "Only 10 Question"Series

#06 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:

👉Measures of Dispersion:
1.Absolute Measures 
    ✔Range 
    ✔Inter-Quartile Range 
    ✔Mean Deviation
    ✔Standard Deviation
    ✔Lorenz Curve
2.Relative Measures
    ✔Coefficient of Range
    ✔Coefficient of Quartile Deviation
    ✔Coefficient of Mean Deviation
    ✔Coefficient of Standard Deviation
    ✔Coefficient of Variation

👉Conditions of Long-Run Equilibrium under Perfect Competition 

👉Price Rigidity-Paul M. Sweezy-1939

👉 Scitovsky Paradox-1941-"A note welfare Propositions in Economics"

👉Prof. Libhafasky -Total outlay Method

👉Von Neuman-Oskar Morgenstrn Utility Function-1944 "Theory of Games and Economic Behaviour"

👉Selling Cost


Playlist Link: "Only 10 Question"Series

#05 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:

👉Rangrajan Committee- BOP Deficit-1993

👉Narsimhan Committee- 
    ✔1st- 1991-Banking Reform
    ✔2nd-1998- Review Of Banking Reform 

👉Kelker Committee-(2002-03)- Tax Structure Reform

👉Malhotra Committee-1993-Insurance Reform

👉Wanchoo Committee-1969-Direct Tax

👉Chelliah Committee-(1991-1993)-Tax Reform

👉Rekhi Committee-1992- Indirect Tax

👉Adolph Wagner's Theory of Increasing States activity-1880

👉Planning Commission-1951-A Non-Statutory Body
   ✔NITI(National Institute for Transforming India)-2015

👉Price Elasticity Of Demand Measures:
   ✔Total Expenditure Method
   ✔Proprtionate of Percentage Method
   ✔Geometric Method or Point Elasticity 
   ✔Arc Elasticity 
   ✔Revenue Method

👉Public Goods
    ✔Non-Excludability
    ✔Non-Rival
    ✔Non-rejectable

👉Kinked Demand Curve-1939-Paul M. Sweezy

👉Theory of Surplus Value:1969-Karl Marx

👉Reveald Preference Theory-1948-Paul A. Samuelson

👉Poin of Constrained Bliss-A. Bergson -1938


Playlist Link: "Only 10 Question"Series

#04 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:

👉Theory Of Regional Group
   ✔Free Trade Area-NAFTA
   ✔Custome Union
   ✔Common Market- COMESA
   ✔Economic Union- EU

👉Inter-Regional and international trade-1933

👉Asian Drama:An inquary into the Poverty Nations-1968

👉Cannon Of Taxation-Adam Smith

👉Elasticity of Demand by Alfred Marshall

👉Measures of Incidence : Musgrave

👉Elasticity Approach: Marshall-Lerner Approach- "Price Effect of Devaluation "-1952

👉'Law of Increasing State Activity' by Wegner-1880

👉Peacock-Wiseman Hypothesis-1890:Public Expenditure dose not increases a smooth manner but in a jerky.

👉Incidence Of Tax-Dalton

👉Central Statistical Organisation-1951

👉Revenue Deficit=Total Revenue Exp.-Total Revenue Receipts

👉Capital Deficit=Total Capital Exp.-Total Capital Receipts

👉Budgetary Deficit =Revenue Deficit+Capital Receipts

👉Fiscal Deficit=Total Govt. Exp.-Total Govt.Receipts{Excluding Borrowings} 

👉Primary Deficit=Fiscal Deficit-Interest Payment  

👉W.W.Rostow-1960-"The Stages of Economic Growth:Non Communist Manifesto"

👉Ragnar Nurkse-"Probability Of Capital Formation In Under Developed Countries"-1961

👉J. M. Keynes- 1936- Effective Demand


Playlist Link: "Only 10 Question"Series

#03 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:

👉Finance Commission Chairman
    ✔1st- 1951-K.C. Niyogi
    ✔ 2nd- 1956- K.Santhanam
    ✔ 3rd-1960- A. K. Chanda
    ✔12th- 2002- C. Rangrajan
    ✔14th-2013-Y.V. Reddy
    ✔15th- 2020-N.K. Singh

👉Laffer curve 1974

👉Sampling (Probability and Non- Probability)

👉Absolute Advantage Theory 1776 by Adam Smith

👉Comparative Cost Advantage theory 1817 by David Recardo

👉Reciprocal demand theory 1858 by J.S. Mill

👉H-O Theory 1920

👉Long Run Growth Model of Solow 1956


Playlist Link: "Only 10 Question"Series