India: Agriculture accounts for 16% of GVA and employs 43% of the workforce, suggesting underemployment. The services sector leads GVA at 54%, utilizing 32% of the workforce.
China: The industrial sector contributes a larger portion of GVA at 41%, with workforce distribution evenly split between services and industry.
Key Observation: India's industrial development is less advanced than China's, and it relies more heavily on agriculture despite its smaller contribution to GVA.
Total consumption expenditure by households under Keynesian Economics is a combination of __________ and ________ .
Surplus in Balance of Payments (BOP) refers to the excess of _________ .
Suppose for a hypothetical economy:
\(C = 100 + 0.75Y\) (where \(C\) = Consumption and \(Y\) = Income)
\(I_0 = 400\) (\(I_0\) = Autonomous Investment)
Value of Investment Multiplier (\(K\)) would be ____________ .