ECONOMICS
INCOME DISTRIBUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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greatly added to the incomes of married-couple households.
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slightly added to the incomes of married-couple households.
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Either A or B
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None of the above
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Detailed explanation-1: -As a report by McKinsey Global Institute suggests that if women participated in the Indian economy at the level men do, annual GDP could be increased by 60% above its projected GDP by 2025. Given this, governments at all levels, civil society, and citizenry should take adequate measures to ensure gender equality.
Detailed explanation-2: -Access to microfinance increases female participation in the labour market in the long run. An IGC project in India found that greater access to microfinance loans led to a significant increase in female labour force participation – with the effect driven by self-employment and not by salaried jobs.
Detailed explanation-3: -The global labor force participation rate for women is just over 50% compared to 80% for men. Women are less likely to work in formal employment and have fewer opportunities for business expansion or career progression.
Detailed explanation-4: -What factors determine women’s labor force participation? A woman’s decision to participate in the labor force is fundamentally determined by two sets of factors: those that affect the wage she can earn in the paid labor market (i.e. her market wage) and those that affect the reservation wage [5].