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Economics › Economic Growth,LPG,Planning
What does the term “economic liberalization” refer to in the context of Indian economy?
(a)
Expansion of the public sector
(b)
Restriction of foreign investment
(c)
Removal of restrictions on private sector and encouragement of free market policies
(d)
Increase in trade barriers
(C)
The term “Gresham’s Law” is often mentioned in the context of economics. What does it state?
Bad money drives out good money when both are in circulation.
Good money drives out bad money when both are in circulation.
Inflation drives out deflation in the economy.
Market competition drives out inefficient producers.
(A)