Q16 of 38 Page 1

Define the term ‘‘Involuntary Unemployment’’.

Involuntary unemployment refers to those labour force who are able and willing to work at the current wage rate but are not able to secure a job.


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14

Name any two sources of demand for foreign exchange by households in an economy.

 15

Define autonomous transactions in Balance of Payments of an economy.

OR


Define accommodating transactions in Balance of Payments of an economy.


 17

If Marginal Propensity to Save is 20% and is constant at all levels of income and the autonomous consumption is Rs. 100 crores, construct a consumption function of the given hypothetical economy.

 18

Distinguish between final goods and intermediate goods. Give suitable examples.

OR


If in a locality, a new park is developed by the municipal corporation, it will have externalities, both positive and negative. State one example each of both types of externalities with reason.