Which of the following is a major challenge in the Indian agricultural sector?
A. Small and fragmented land holdings and dependence on monsoon
B. Uniform high productivity in all regions
C. Excessive mechanisation across all farms
D. Complete absence of market risk
Answer: Option A
Solution (By JKSSB Mock Tests)
Indian agriculture faces structural challenges including predominance of small and fragmented holdings, monsoon dependence, and low productivity in many regions.
Explanation:
Real Business Cycle theory attributes macroeconomic fluctuations mainly to real shocks, particularly technological disturbances, under the assumption of continuous market clearing and rational expectations.
Explanation:
Menu costs are the small costs of changing prices. New Keynesian models show that even small menu costs can generate substantial nominal rigidity and real effects of monetary policy.
Explanation:
Interest on public debt is a transfer payment and is not included in national income as it does not correspond to any current production of goods or services.
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