Explanation:
Credit rationing is a qualitative (selective) credit control measure. Bank Rate, OMO and variable reserve ratios (CRR/SLR) are quantitative measures.
Explanation:
The base year provides the constant price structure used to calculate real (inflation-adjusted) GDP and other national income aggregates, enabling comparison over time.
Explanation:
A Giffen good is an inferior good for which the income effect outweighs the substitution effect, leading to an upward-sloping demand curve (demand rises when price rises).
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