Which of the following is a major challenge for the Indian economy?
A. Complete self-sufficiency in all goods
B. High level of human development across all states equally
C. Regional disparities and unemployment
D. Absence of informal sector
Answer: Option C
Solution (By JKSSB Mock Tests)
Regional disparities in development and persistent unemployment (especially youth and disguised unemployment) remain significant challenges for the Indian economy.
Explanation:
The Baumol-Tobin inventory-theoretic model derives transactions demand for money as a function of income (or expenditure), the interest rate and the fixed cost of transferring funds between money and interest-bearing assets.
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