Which of the following is a characteristic of the 'Universal Basic Services' proposal?
A. Only targeted residual welfare
B. Public provision of a range of essential services free at the point of use as a complement or alternative to basic income
C. Only cash transfers without any public services
D. Only private provision of all services
Answer: Option B
Solution (By JKSSB Mock Tests)
Universal basic services advocates the collective provision of a set of essential services—such as health, education, housing, transport and information—available to all citizens free or at low cost.
Explanation:
Disguised unemployment exists when the removal of some workers does not reduce total output, typically found in agriculture in developing countries.
Explanation:
Both the life-cycle hypothesis and the permanent-income hypothesis assert that forward-looking consumers base consumption on expected lifetime or permanent resources rather than on current income alone.
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