According to the supply side of the vicious circle theory of development, a country is poor because

Consider the following statements with regards to ‘Economic Planning’:
1. The concept of Economic planning in India is derived from Russia (the then USSR)
2. It is a process in which limited natural resources are used skillfully so that the desired goals can be achieved.
3. It derives its objectives and social premises from the fundamental rights enshrined in the constitution.
Select the correct answer from the given codes below:

Assertion: Aggregate demand curve increases at an increasing rate in the beginning and then increases at a decreasing rate.
Reason: Aggregate demand shows that as income increases owing to increase in employment, expenditure of the economy increases at a decreasing rate.

The comparative advantage model of Ricardo was based on

Assertion: A country can gain from trade when it produces at relatively lower costs.
Reason: When a country enjoys an absolute advantage in both goods, the country would specialize in the production and export of those goods which are relatively more advantageous.

Which of the following is a limitation of the simple circular flow model?

Who was first developed the concept of multiplier?

A member can unconditionally borrow from the fund in a year equal to ________ of its quota.

Public revenue can be classified into ____________

GDP= ___________