Annotation 2020-08-23 002222.png What would be answer of these questions
@walterwhit3 RER =Nominal exchange rate* (price of good in domestic country/price of good in forign country)
so , if RER is high then price of good in domestic country would be more , hence expensive
if RER is low then price of domestic good is less and hence people would prefer buying domestic goods so imports would reduce and exports would rise.
@mhs11 right to practice any profession ....could mean that any one could even perform gambling on internet...so it must be wrong??
@mhs11 yes , it is situational discretion power of governor....but institute has given it as right....
@walterwhit3 I think that is wrong.......
NER For usa is lets suppose 70rs. and price of good in usa is 1$, india is 35rs
so rer=(70rs/1$)*(35rs/1$) with formula in ncert-----units will not get cancel out....hence it must be
rer=(70rs/1$)*(1$/35rs)----in this case rer comes out to be 2 with units get canceled
@walterwhit3 yup.... it is very confusing.....various sources on this concept are contradictory.......
@walterwhit3 I think some economics optional student could give much better perspective.....anyone???
@walterwhit3 that's why I just picked one source ....from that I am getting answer.....and I am thus assuming that as correct......mathematically also getting answer......and we didnt have to go into much depth ...just need to understand basic
in this question ...can we assume 2nd statement as general statement......which is true except in some situations????
like right to practice any trade is general statement ....although there are restrictions but from solely reading this statement it seems wrong becoz of word "any".
what to consider in these type of questions? Is there any upsc previous year question like this??
@Patootie But recently , central govt has released new rules for tribunals after changes for tribunals done in FINANCE ACT got rejected by SC.
In new rules it is written that central government would appoint members of CAT, and their terms are also reduced to 4 years.
However it is little confusing , not able to understand clearly...
