Question Description
Read the following passage and answer the items that follow. Your answer to the items should be based on the passage only.PASSAGEEconomic science has dominated public policy since the 20th century. Debates have raged between “Keynesian” economists and “Friedman” economists: between “welfarists” who see the need for a government hand in the economy and “monetarists” who want governments out of the way to let private entrepreneurs loose and let an “invisible hand” produce good outcomes for all. Both sides agreethat growth in GDP – the size of the economy measured in money terms – is essential. Far-sighted systems thinkers in the Club of Rome gave a wake-up call in 1972. They showed that pursuit of GDP growth was destroying the earth’s capacity to renew itself and provide resources for unbridled economic growth. They introduced the health of the planet into calculations of profit and growth. Meanwhile, economists continue to treat the natural environment as external to the economy. Pleas by communities to protect it are dismissed as impediments to “ease of doing business” and GDP growth. By the millennium’s end, advocates of unbridled private enterprise had prevailed. Needs of citizens who earn their livelihoods by work, not investments of money, were relegated in national economic policies wherever the “Thatcher-Reagan-Chicago” model of neoliberal economics prevailed. The 2008 global financial crisis revealed the fragility of insufficiently regulated markets. Governments of the G7 (later G20) collaborated to stabilize the financial system. They bailed out the “too large to fail” institutions while millions of common citizens, who lost homes and livelihoods, were barely compensated. In fact, some solutions to stabilize the the global financial system, such as the austerity package imposed on Greece, harmed common citizens even further. While the ideology of “minimum government”, with balanced budgets and low inflation has continued, waves of protest have erupted around the world. Citizens complain that the global financial system is unfair. It protects theinterests of large corporations and the wealthiest people while common citizens fall further behind. Demands to include the needs of ‘People’ in economic policy are becoming louder. The “3P” slogan – People, Planet, and Profit – demands a paradigm shift in economics.The ‘invisible hand’ mentioned in the above passage does not support which of the following?a)‘Welfarists’b)Minimum governance.c)‘Monetarists’d)Unbridled private enterprise. Correct answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Read the following passage and answer the items that follow. Your answer to the items should be based on the passage only.PASSAGEEconomic science has dominated public policy since the 20th century. Debates have raged between “Keynesian” economists and “Friedman” economists: between “welfarists” who see the need for a government hand in the economy and “monetarists” who want governments out of the way to let private entrepreneurs loose and let an “invisible hand” produce good outcomes for all. Both sides agreethat growth in GDP – the size of the economy measured in money terms – is essential. Far-sighted systems thinkers in the Club of Rome gave a wake-up call in 1972. They showed that pursuit of GDP growth was destroying the earth’s capacity to renew itself and provide resources for unbridled economic growth. They introduced the health of the planet into calculations of profit and growth. Meanwhile, economists continue to treat the natural environment as external to the economy. Pleas by communities to protect it are dismissed as impediments to “ease of doing business” and GDP growth. By the millennium’s end, advocates of unbridled private enterprise had prevailed. Needs of citizens who earn their livelihoods by work, not investments of money, were relegated in national economic policies wherever the “Thatcher-Reagan-Chicago” model of neoliberal economics prevailed. The 2008 global financial crisis revealed the fragility of insufficiently regulated markets. Governments of the G7 (later G20) collaborated to stabilize the financial system. They bailed out the “too large to fail” institutions while millions of common citizens, who lost homes and livelihoods, were barely compensated. In fact, some solutions to stabilize the the global financial system, such as the austerity package imposed on Greece, harmed common citizens even further. While the ideology of “minimum government”, with balanced budgets and low inflation has continued, waves of protest have erupted around the world. Citizens complain that the global financial system is unfair. It protects theinterests of large corporations and the wealthiest people while common citizens fall further behind. Demands to include the needs of ‘People’ in economic policy are becoming louder. The “3P” slogan – People, Planet, and Profit – demands a paradigm shift in economics.The ‘invisible hand’ mentioned in the above passage does not support which of the following?a)‘Welfarists’b)Minimum governance.c)‘Monetarists’d)Unbridled private enterprise. Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following passage and answer the items that follow. Your answer to the items should be based on the passage only.PASSAGEEconomic science has dominated public policy since the 20th century. Debates have raged between “Keynesian” economists and “Friedman” economists: between “welfarists” who see the need for a government hand in the economy and “monetarists” who want governments out of the way to let private entrepreneurs loose and let an “invisible hand” produce good outcomes for all. Both sides agreethat growth in GDP – the size of the economy measured in money terms – is essential. Far-sighted systems thinkers in the Club of Rome gave a wake-up call in 1972. They showed that pursuit of GDP growth was destroying the earth’s capacity to renew itself and provide resources for unbridled economic growth. They introduced the health of the planet into calculations of profit and growth. Meanwhile, economists continue to treat the natural environment as external to the economy. Pleas by communities to protect it are dismissed as impediments to “ease of doing business” and GDP growth. By the millennium’s end, advocates of unbridled private enterprise had prevailed. Needs of citizens who earn their livelihoods by work, not investments of money, were relegated in national economic policies wherever the “Thatcher-Reagan-Chicago” model of neoliberal economics prevailed. The 2008 global financial crisis revealed the fragility of insufficiently regulated markets. Governments of the G7 (later G20) collaborated to stabilize the financial system. They bailed out the “too large to fail” institutions while millions of common citizens, who lost homes and livelihoods, were barely compensated. In fact, some solutions to stabilize the the global financial system, such as the austerity package imposed on Greece, harmed common citizens even further. While the ideology of “minimum government”, with balanced budgets and low inflation has continued, waves of protest have erupted around the world. Citizens complain that the global financial system is unfair. It protects theinterests of large corporations and the wealthiest people while common citizens fall further behind. Demands to include the needs of ‘People’ in economic policy are becoming louder. The “3P” slogan – People, Planet, and Profit – demands a paradigm shift in economics.The ‘invisible hand’ mentioned in the above passage does not support which of the following?a)‘Welfarists’b)Minimum governance.c)‘Monetarists’d)Unbridled private enterprise. Correct answer is option 'A'. Can you explain this answer?.

Solutions for Read the following passage and answer the items that follow. Your answer to the items should be based on the passage only.PASSAGEEconomic science has dominated public policy since the 20th century. Debates have raged between “Keynesian” economists and “Friedman” economists: between “welfarists” who see the need for a government hand in the economy and “monetarists” who want governments out of the way to let private entrepreneurs loose and let an “invisible hand” produce good outcomes for all. Both sides agreethat growth in GDP – the size of the economy measured in money terms – is essential. Far-sighted systems thinkers in the Club of Rome gave a wake-up call in 1972. They showed that pursuit of GDP growth was destroying the earth’s capacity to renew itself and provide resources for unbridled economic growth. They introduced the health of the planet into calculations of profit and growth. Meanwhile, economists continue to treat the natural environment as external to the economy. Pleas by communities to protect it are dismissed as impediments to “ease of doing business” and GDP growth. By the millennium’s end, advocates of unbridled private enterprise had prevailed. Needs of citizens who earn their livelihoods by work, not investments of money, were relegated in national economic policies wherever the “Thatcher-Reagan-Chicago” model of neoliberal economics prevailed. The 2008 global financial crisis revealed the fragility of insufficiently regulated markets. Governments of the G7 (later G20) collaborated to stabilize the financial system. They bailed out the “too large to fail” institutions while millions of common citizens, who lost homes and livelihoods, were barely compensated. In fact, some solutions to stabilize the the global financial system, such as the austerity package imposed on Greece, harmed common citizens even further. While the ideology of “minimum government”, with balanced budgets and low inflation has continued, waves of protest have erupted around the world. Citizens complain that the global financial system is unfair. It protects theinterests of large corporations and the wealthiest people while common citizens fall further behind. Demands to include the needs of ‘People’ in economic policy are becoming louder. The “3P” slogan – People, Planet, and Profit – demands a paradigm shift in economics.The ‘invisible hand’ mentioned in the above passage does not support which of the following?a)‘Welfarists’b)Minimum governance.c)‘Monetarists’d)Unbridled private enterprise. Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

Here you can find the meaning of Read the following passage and answer the items that follow. Your answer to the items should be based on the passage only.PASSAGEEconomic science has dominated public policy since the 20th century. Debates have raged between “Keynesian” economists and “Friedman” economists: between “welfarists” who see the need for a government hand in the economy and “monetarists” who want governments out of the way to let private entrepreneurs loose and let an “invisible hand” produce good outcomes for all. Both sides agreethat growth in GDP – the size of the economy measured in money terms – is essential. Far-sighted systems thinkers in the Club of Rome gave a wake-up call in 1972. They showed that pursuit of GDP growth was destroying the earth’s capacity to renew itself and provide resources for unbridled economic growth. They introduced the health of the planet into calculations of profit and growth. Meanwhile, economists continue to treat the natural environment as external to the economy. Pleas by communities to protect it are dismissed as impediments to “ease of doing business” and GDP growth. By the millennium’s end, advocates of unbridled private enterprise had prevailed. Needs of citizens who earn their livelihoods by work, not investments of money, were relegated in national economic policies wherever the “Thatcher-Reagan-Chicago” model of neoliberal economics prevailed. The 2008 global financial crisis revealed the fragility of insufficiently regulated markets. Governments of the G7 (later G20) collaborated to stabilize the financial system. They bailed out the “too large to fail” institutions while millions of common citizens, who lost homes and livelihoods, were barely compensated. In fact, some solutions to stabilize the the global financial system, such as the austerity package imposed on Greece, harmed common citizens even further. While the ideology of “minimum government”, with balanced budgets and low inflation has continued, waves of protest have erupted around the world. Citizens complain that the global financial system is unfair. It protects theinterests of large corporations and the wealthiest people while common citizens fall further behind. Demands to include the needs of ‘People’ in economic policy are becoming louder. The “3P” slogan – People, Planet, and Profit – demands a paradigm shift in economics.The ‘invisible hand’ mentioned in the above passage does not support which of the following?a)‘Welfarists’b)Minimum governance.c)‘Monetarists’d)Unbridled private enterprise. Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Read the following passage and answer the items that follow. Your answer to the items should be based on the passage only.PASSAGEEconomic science has dominated public policy since the 20th century. Debates have raged between “Keynesian” economists and “Friedman” economists: between “welfarists” who see the need for a government hand in the economy and “monetarists” who want governments out of the way to let private entrepreneurs loose and let an “invisible hand” produce good outcomes for all. Both sides agreethat growth in GDP – the size of the economy measured in money terms – is essential. Far-sighted systems thinkers in the Club of Rome gave a wake-up call in 1972. They showed that pursuit of GDP growth was destroying the earth’s capacity to renew itself and provide resources for unbridled economic growth. They introduced the health of the planet into calculations of profit and growth. Meanwhile, economists continue to treat the natural environment as external to the economy. Pleas by communities to protect it are dismissed as impediments to “ease of doing business” and GDP growth. By the millennium’s end, advocates of unbridled private enterprise had prevailed. Needs of citizens who earn their livelihoods by work, not investments of money, were relegated in national economic policies wherever the “Thatcher-Reagan-Chicago” model of neoliberal economics prevailed. The 2008 global financial crisis revealed the fragility of insufficiently regulated markets. Governments of the G7 (later G20) collaborated to stabilize the financial system. They bailed out the “too large to fail” institutions while millions of common citizens, who lost homes and livelihoods, were barely compensated. In fact, some solutions to stabilize the the global financial system, such as the austerity package imposed on Greece, harmed common citizens even further. While the ideology of “minimum government”, with balanced budgets and low inflation has continued, waves of protest have erupted around the world. Citizens complain that the global financial system is unfair. It protects theinterests of large corporations and the wealthiest people while common citizens fall further behind. Demands to include the needs of ‘People’ in economic policy are becoming louder. The “3P” slogan – People, Planet, and Profit – demands a paradigm shift in economics.The ‘invisible hand’ mentioned in the above passage does not support which of the following?a)‘Welfarists’b)Minimum governance.c)‘Monetarists’d)Unbridled private enterprise. Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Read the following passage and answer the items that follow. Your answer to the items should be based on the passage only.PASSAGEEconomic science has dominated public policy since the 20th century. Debates have raged between “Keynesian” economists and “Friedman” economists: between “welfarists” who see the need for a government hand in the economy and “monetarists” who want governments out of the way to let private entrepreneurs loose and let an “invisible hand” produce good outcomes for all. Both sides agreethat growth in GDP – the size of the economy measured in money terms – is essential. Far-sighted systems thinkers in the Club of Rome gave a wake-up call in 1972. They showed that pursuit of GDP growth was destroying the earth’s capacity to renew itself and provide resources for unbridled economic growth. They introduced the health of the planet into calculations of profit and growth. Meanwhile, economists continue to treat the natural environment as external to the economy. Pleas by communities to protect it are dismissed as impediments to “ease of doing business” and GDP growth. By the millennium’s end, advocates of unbridled private enterprise had prevailed. Needs of citizens who earn their livelihoods by work, not investments of money, were relegated in national economic policies wherever the “Thatcher-Reagan-Chicago” model of neoliberal economics prevailed. The 2008 global financial crisis revealed the fragility of insufficiently regulated markets. Governments of the G7 (later G20) collaborated to stabilize the financial system. They bailed out the “too large to fail” institutions while millions of common citizens, who lost homes and livelihoods, were barely compensated. In fact, some solutions to stabilize the the global financial system, such as the austerity package imposed on Greece, harmed common citizens even further. While the ideology of “minimum government”, with balanced budgets and low inflation has continued, waves of protest have erupted around the world. Citizens complain that the global financial system is unfair. It protects theinterests of large corporations and the wealthiest people while common citizens fall further behind. Demands to include the needs of ‘People’ in economic policy are becoming louder. The “3P” slogan – People, Planet, and Profit – demands a paradigm shift in economics.The ‘invisible hand’ mentioned in the above passage does not support which of the following?a)‘Welfarists’b)Minimum governance.c)‘Monetarists’d)Unbridled private enterprise. Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Read the following passage and answer the items that follow. Your answer to the items should be based on the passage only.PASSAGEEconomic science has dominated public policy since the 20th century. Debates have raged between “Keynesian” economists and “Friedman” economists: between “welfarists” who see the need for a government hand in the economy and “monetarists” who want governments out of the way to let private entrepreneurs loose and let an “invisible hand” produce good outcomes for all. Both sides agreethat growth in GDP – the size of the economy measured in money terms – is essential. Far-sighted systems thinkers in the Club of Rome gave a wake-up call in 1972. They showed that pursuit of GDP growth was destroying the earth’s capacity to renew itself and provide resources for unbridled economic growth. They introduced the health of the planet into calculations of profit and growth. Meanwhile, economists continue to treat the natural environment as external to the economy. Pleas by communities to protect it are dismissed as impediments to “ease of doing business” and GDP growth. By the millennium’s end, advocates of unbridled private enterprise had prevailed. Needs of citizens who earn their livelihoods by work, not investments of money, were relegated in national economic policies wherever the “Thatcher-Reagan-Chicago” model of neoliberal economics prevailed. The 2008 global financial crisis revealed the fragility of insufficiently regulated markets. Governments of the G7 (later G20) collaborated to stabilize the financial system. They bailed out the “too large to fail” institutions while millions of common citizens, who lost homes and livelihoods, were barely compensated. In fact, some solutions to stabilize the the global financial system, such as the austerity package imposed on Greece, harmed common citizens even further. While the ideology of “minimum government”, with balanced budgets and low inflation has continued, waves of protest have erupted around the world. Citizens complain that the global financial system is unfair. It protects theinterests of large corporations and the wealthiest people while common citizens fall further behind. Demands to include the needs of ‘People’ in economic policy are becoming louder. The “3P” slogan – People, Planet, and Profit – demands a paradigm shift in economics.The ‘invisible hand’ mentioned in the above passage does not support which of the following?a)‘Welfarists’b)Minimum governance.c)‘Monetarists’d)Unbridled private enterprise. Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Read the following passage and answer the items that follow. Your answer to the items should be based on the passage only.PASSAGEEconomic science has dominated public policy since the 20th century. Debates have raged between “Keynesian” economists and “Friedman” economists: between “welfarists” who see the need for a government hand in the economy and “monetarists” who want governments out of the way to let private entrepreneurs loose and let an “invisible hand” produce good outcomes for all. Both sides agreethat growth in GDP – the size of the economy measured in money terms – is essential. Far-sighted systems thinkers in the Club of Rome gave a wake-up call in 1972. They showed that pursuit of GDP growth was destroying the earth’s capacity to renew itself and provide resources for unbridled economic growth. They introduced the health of the planet into calculations of profit and growth. Meanwhile, economists continue to treat the natural environment as external to the economy. Pleas by communities to protect it are dismissed as impediments to “ease of doing business” and GDP growth. By the millennium’s end, advocates of unbridled private enterprise had prevailed. Needs of citizens who earn their livelihoods by work, not investments of money, were relegated in national economic policies wherever the “Thatcher-Reagan-Chicago” model of neoliberal economics prevailed. The 2008 global financial crisis revealed the fragility of insufficiently regulated markets. Governments of the G7 (later G20) collaborated to stabilize the financial system. They bailed out the “too large to fail” institutions while millions of common citizens, who lost homes and livelihoods, were barely compensated. In fact, some solutions to stabilize the the global financial system, such as the austerity package imposed on Greece, harmed common citizens even further. While the ideology of “minimum government”, with balanced budgets and low inflation has continued, waves of protest have erupted around the world. Citizens complain that the global financial system is unfair. It protects theinterests of large corporations and the wealthiest people while common citizens fall further behind. Demands to include the needs of ‘People’ in economic policy are becoming louder. The “3P” slogan – People, Planet, and Profit – demands a paradigm shift in economics.The ‘invisible hand’ mentioned in the above passage does not support which of the following?a)‘Welfarists’b)Minimum governance.c)‘Monetarists’d)Unbridled private enterprise. Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice UPSC tests.