On Tuesday, the National Statistical Office (NSO) released the first advance estimates of the national income that projected growth in India’s GDP at market prices for 2019-20 at 4.98% in “real” terms, the lowest since the 3.89% in the global financial crisis year of 2008-09.
https://indianexpress.com/article/explained/simply-put-the-nominal-gdp-worry-6205194/
What does GDP at market prices in 'real' terms mean? Is this the same as real GDP?
I think option D as correct answer assumes that whatever is not going out under PSL is being loaned out the usual way.
Otherwise answer could be A as well. Only when the bank's money is loaned out will the money multiplier change. Lending under PSL goes down >amount loaned out goes down >money multiplier goes down.
I don't know of any oligopoly in health sector of India. But you can google oligopoly+health insurance+USA to understand more about how they operate.
Free market does not have government imposed restrictions. Assume 90% of all crude oil reserves in a country come under only two companies - A and B. They have a huge say in what the price of the oil should be. Both companies are made up of smaller companies which essentially came together to form a cartel. Government did not interfere under anti-competition laws because under a free market there is no need for such laws.
I just gave a nation's version of the international OPEC market power.
Market for mobile browsers can also be considered oligopoly. No government interference there too. Just by bundling them with their respective OSs resulted in this market structure.
So, a free market will not prohibit an oligopoly or monopoly from coming up.
My optional is not economics so my knowledge about this issue is limited. Frankly I don't think this level of depth is required.
