In a theoretical situation, if growth is heavily export based, it might lead to a fall in the terms of trade of the exporting country. This concept and its proponent are
Immiserizing growth – Jagdish Bhagwati
When a country's growth is concentrated in its export sector, it offers much more of its export good on world markets. If the country is large enough to influence world prices, this extra supply lowers the price of its exports relative to its imports, i.e. its terms of trade fall.
Jagdish Bhagwati (1958) showed that this terms-of-trade loss can be so large that it outweighs the gain from higher output, so the growing country ends up worse off. He called this immiserizing growth. It is most likely when growth is export-biased, foreign demand for the export is price-inelastic, and the country depends heavily on trade.
The other pairs describe different ideas: trade diversion is Jacob Viner's customs-union concept (shifting imports to a higher-cost partner); trade creation is also Viner's concept, not Krugman's; and exchange controls are not the subject of Mundell's analysis of this situation.
Hence, the answer is Immiserizing growth – Jagdish Bhagwati.
Arrange the following in descending order according to the extent of expenditure of Union Government in Budget 2023-24.
(i) Central Sector Schemes
(ii) Interest Payments
(iii) States' share of taxes and duties
(iv) Centrally sponsored schemes
What is the point elasticity when price is 12 rupees for the demand function P = 60 – 3q.
Match the following:
| List I | List II |
|---|---|
| (a) 12th Finance Commission | (i) Dr. Vijay Kelkar |
| (b) 13th Finance Commission | (ii) Dr. C. Rangarajan |
| (c) 14th Finance Commission | (iii) N. K. Singh |
| (d) 15th Finance Commission | (iv) Y. V. Reddy |
Codes : (a) (b) (c) (d)
Why does a firm under perfect competition continue to operate in the long run despite earning only normal/zero profits ?
When the Total Product (TP) is maximum, the Average Product (AP) is _____ and the Marginal Product (MP) is _____ .
What is the short run supply curve of a firm in a perfectly competitive market ?
According to Bergson-Samuelson social welfare function approach, social welfare is maximized when _____ .
In Chamberlin’s alternative approach, why does the excess capacity of a monopolistically competitive firm emerge ?
Which of the following term is more important in welfare economics and in designing government policy ?
To maintain price leadership, a dominant firm must ensure that _____ .
.................... is a client server application that identifies each host on the internet with a unique user-friendly name.
Every OS has a ................ or .......... which primarily resides in the main memory of the computer to perform some of the basic functions of the OS.
(i) Kernel
(ii) Interface
(iii) Nucleus
(iv) Compiler
Codes:
Which of the following are referred to as low level language?
(i) Machine language
(ii) Assembly language
(iii) High level language
(iv) Natural language
Codes:
Match the following:
| List I | List II |
| (a) New York Public Library | (i) Shelv AR |
| (b) Miami University Augmented Research Group | (ii) Smart library |
| (c) Oula University Library | (iii) Wolf Walk |
| (d) North Carolina State University | (iv) Find the future |
Codes:
Which part of the QR code represents the encoded data?