In the context of international economics, 'Dumping' is considered:
A. A tariff barrier
B. An unfair trade practice of selling below cost or domestic price in foreign markets
C. A fair trade practice
D. A form of export promotion subsidy only
Answer: Option B
Solution (By JKSSB Mock Tests)
Dumping involves selling a product in a foreign market at a price lower than the domestic price or below the cost of production, often subject to anti-dumping duties.
Explanation:
Sudden-stop models analyse the macroeconomic and financial consequences of large and abrupt reversals in capital inflows, which often trigger currency crises, credit contractions and sharp recessions.
Explanation:
The First Five Year Plan (1951-56) was based on the Harrod-Domar model which emphasised the role of savings and investment in economic growth.
Explanation:
HDI has three dimensions: health (life expectancy), education (mean and expected years of schooling) and standard of living (GNI per capita). Gender equality is measured by separate indices like GII.
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