The 'Goods and Services Tax' on services provided by PFRDA is: MCQ with Answer and Explanation

Explanation:
Duesenberry’s relative-income hypothesis posits that consumption depends on the individual’s rank in the income distribution and on the highest income previously attained (ratchet effect).

Explanation:
Derived demand is the demand for a factor of production that arises from the demand for the final product it helps produce. Demand for labour is derived from the demand for goods and services.

Explanation:
The impossible trinity states that it is impossible to have a fixed exchange rate, free capital mobility and an independent monetary policy simultaneously; only two of the three can be achieved.