1. According to Keynes , the consumption function primarily relates consumption to: A) Interest rate B) Income C) Price level D) Money supply Follow the Unique Study Centre channel on WhatsApp: https://whatsapp.com/channel/0029Vb6e3LCA2pLEYnNqUC1H 2. The Keynesian consumption function is generally expressed as: A) C = a + bY B) C = a − bY C) C = b/Y D) C = Y − C 3. In the equation C = a + bY, ‘a’ represents: A) Marginal propensity to consume B) Average propensity to consume C) Autonomous consumption D) Induced investment 4. According to Keynes, the marginal propensity to consume (MPC) is: A) Greater than 1 B) Equal to 1 always C) Between 0 and 1 D) Less than 0 5. The slope of the Keynesian consumption function is equal to: A) APC B) MPC C) MPS D) APS 6. If income increases by ₹1,000 and consumption increases by ₹800, the MPC is: A) 0.2 B) 0.5 C) 0.8 D) 1.25 7. According to Keynes’s psychological law of consumption , as income increases: A) Consumption increases more than proportiona...
El Niño and Its Effects on the World Economy Abstract El Niño is a major climate phenomenon that originates in the tropical Pacific Ocean but produces economic consequences across the world. Changes in temperature and rainfall associated with El Niño can affect agriculture , fisheries, energy production, transportation, international trade, inflation, and economic growth. Countries that depend heavily on agriculture and natural resources are particularly vulnerable. Reduced crop production can increase food prices , while disruptions to energy and supply chains can raise production costs. El Niño can also influence monetary policy by creating inflationary pressures . However, its effects are not uniform, and some regions may experience temporary economic benefits from favorable weather conditions. This article examines the major effects of El Niño on the world economy and discusses measures that governments and businesses can adopt to reduce economic risks. Keywords: El Niño, World...