Statement (I): Social assistance is financed by tripartite or bipartite contributions Statement (II): Social insurance ignores the income and means of liable relation. Statement (III): Social assistance makes the beneficiary a first charge on the liable relations Statement (IV): Social assistance aims at to provide maximum subsistence to those who can not make it on […]

Statement (I): The ‘law of one price’ states that in competitive markets free of transportation costs and barriers to trade, identical products sold in different countries must sell for the same price when their price is expressed in terms of the same currency. Statement (II): An ‘Efficient market’ has not impediments to the free flow […]

Statement (I): A Global Depositary Receipt (GDR) is a bank certificate issued in more than one country for shares in a foreign company. Statement (II): A GDR is very similar to American Depositary Receipt (ADR) Statement (III): GDRs are called EDRs when private markets are attempting to obtain Euros   Code:  

Reasoning (R): Allowing foreign firms free play in India’s retail sector has always been a political hot potato. Code:  

  List-I List-II (a) Comparative Cost Theory (i) Adam Smith (b) Opportunity Cost Theory (ii) Gottfried Haberler (c) Factor Endowment Theory (iii) David Ricardo (d) Absolute Cost Theory (iv) Eli Heckscher and Bertil Ohlin

Statement (I): International liquidity encompasses the international reserves only. Statement (II): International liquidity covers only official holdings of gold, foreign exchange, SDRs and reserve position in the IMF available for the settlement of the international transactions. Code: