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What is indentured labour?
  • a)
    Labour that works in exchange for payment of passage, accommodation, and food
  • b)
    Labour that works without any pay
  • c)
    Labour that is protected by the state from competition with the wider world
  • d)
    Labour that is exported to other countries for profit
Correct answer is option 'A'. Can you explain this answer?
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What is indentured labour?a)Labour that works in exchange for payment ...
Indentured labourers work under a restrictive contract of employment for a fixed period in a foreign country in exchange for payment of passage, accommodation, and food. They were widely used as a source of workers from India for employment on sugar plantations in the Caribbean from 1839.
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Directions: Read the passage carefully and answer the questions.The causes of the Asian Financial Crisis are complicated and disputable. A major cause is considered to be the collapse of the hot money bubble. During the late 1980s and early 1990s, many Southeast Asian Countries, including Thailand, Singapore, Malaysia, Indonesia, and South Korea, achieved massive economic growth of an 8% to 12% increase in their Gross Domestic Product (GDP). The achievement was known as the "Asian Economic Miracle". However, a significant risk was embedded in the achievement.The economic development in the Countries mentioned above were mainly boosted by export growth and foreign investment. Therefore, high-interest rates and fixed currency exchange rates (pegged to the U.S. dollar) were implemented to attract hot money. Also, the exchange rate was pegged at a rate favorable to exporters. However, both the capital market and corporates were left exposed to foreign exchange risk due to the fixed currency exchange rate policy.In the mid-1900s, following the recovery of the U.S. from a recession, the Federal Reserve raised the interest rate against inflation. The higher interest rate attracted hot money to flow into the U.S. market leading to an appreciation of the U.S. dollar.The currencies pegged to the U.S. dollar also appreciated, and thus hurt export growth with a shock in both export and foreign investment, asset prices, which were leveraged by large amounts of credits, began to collapse. The panicked foreign investors began to withdraw. This translated into increased demand for US dollars. Further, there was no perceptible increase in the supply of dollars as wary investors shied away from investing in these economies. With demand being greater than supply, the US dollar appreciated with the domestic currency depreciating. The depreciation of the local currencies fuelled more investments being pulled out of these economies thus resulting in a crisis.Thus Thai Government first ran out of foreign currency to supports its exchange rate, forcing it to float the baht.The value of the baht thus collapsed immediately afterward. The same also happened to the rest of the Asian Countries soon after.Q. Identify the most unlikely reason or appreciation of the US dollar.

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What is indentured labour?a)Labour that works in exchange for payment of passage, accommodation, and foodb)Labour that works without any payc)Labour that is protected by the state from competition with the wider worldd)Labour that is exported to other countries for profitCorrect answer is option 'A'. Can you explain this answer?
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What is indentured labour?a)Labour that works in exchange for payment of passage, accommodation, and foodb)Labour that works without any payc)Labour that is protected by the state from competition with the wider worldd)Labour that is exported to other countries for profitCorrect answer is option 'A'. Can you explain this answer? for Humanities/Arts 2024 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about What is indentured labour?a)Labour that works in exchange for payment of passage, accommodation, and foodb)Labour that works without any payc)Labour that is protected by the state from competition with the wider worldd)Labour that is exported to other countries for profitCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Humanities/Arts 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is indentured labour?a)Labour that works in exchange for payment of passage, accommodation, and foodb)Labour that works without any payc)Labour that is protected by the state from competition with the wider worldd)Labour that is exported to other countries for profitCorrect answer is option 'A'. Can you explain this answer?.
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