Page 258 - DECO402_MACROECONOMIC_THEORY_PUNJABI

smStI ArQSwsqr dy isDWq

È؇ “ieh nhIN ikhw jWdw ik qyj sMkucn dy smyN ivc ssqI mudrw nIiq ibnw lwBkwrI pRBwv dy hovygI, blik iesdw
AiDkqr pRBwv Krwb siQqI nUM v~D Krwb siQqI ivc phUMcwaux qo rokn ivc hovygw[ pr ADomuKI (downturn)
kwrobwr nwl juVI pRiqbMDWqmk modirk nIiq inSicq rUp nwl ADomuKI kwrobwr nUM hor Krwb bxw dygI- iesdw
prMprwvwdI audwhrx 1931 dw modirk nIiq sI ijsny mhwmMdI nUM gMBIr bnwx iv`c Apxw Xogdwn idqw…[
dUjy pwsy, jykr swK Anukul SrqW qy aplbD hY qW spSt rup iv`c iesdw siQrqwkwrI pRBwv hovygw[ ivvsweI
dI qrlqw lox purI hox qy ieh holI ho skdw hY Aqy Swied ADomuKI dI sImw ƒ G`tw skdI hY[”
pr 1930 Aqy 1940 dy swlW iv`c modirk nIqI dy pqn dw kI kwrx sI? mhwmMdI dy dorwx Aqy iesqo bwd
dI kStkwrk Aqy moh-BMg vwly AnuBwvW qo ielwvW kynj dI General Theory v`D siQrqw dy Aojwr dy rup
iv`c modirk nIqI dy pqn dw kwrx bxI[ kynj ny d`isAW ik v`D loc qrlqw AiDmwn AnusucI (qrlqw jwl)
qyj mMdI dy smy iv`c modirk nIqI ƒ AshweI dI siQiq iv`c pyS krdw hY[

√ÚÀ ÓπÒª’‰ (Self Assessment)
bhuivklpIAw pRSn (Multiple Choice Questions):
3. kImq p`Dr iv`c siQrqw ilAwauxw modirk nIqI dw iek hY -
(a) mu`K audyS (A) mu`K kMm

(e) Xojnw (s) iedy iv`co koeI nhI[
4. purx rojgwr pRwpq krxw huMdw hY -
(a) ibnW jrUrq dy (A) bhuq jrUrI
(e) mu`K kMm (s) iedy iv`co koeI nhI[
5. iviSSt audyiSAW nwl Kws qrW idAW swK ƒ pRBwivq krx dy leI kMm iv`c lwey jWdy hn -
(a) icXnwqmk swK inXMqRx (A) audyS
(e) iviSSt Kyqr (s) iedy iv`co koeI nhI[
6. kyNdrI bYNk ivsqwrk modirk nIqI Suru krdw hY jyVI swK bwzwr dI hwlq ƒ bxwdI hY -
(a) musk`l (A) soKw
(e) pirvrqnSIl (s) iedy iv`co koeI nhI[

27.5 pRiqbMDwqmk modirk nIqI (Restrictive Monetary Policy)
swirAW mMgW ƒ G`t krx dy leI bnweI geI modirk nIqI pRiqbMDwqmk (jW mihMgI) modirk nIqI dy nW qo jwxI
jWdI hY[ iehdw apXog sPIiqkwrI AMqrwl qo bwhr k`fx dy leI huMdw hY[ vsquAW Aqy syvwvW dI apBogqw
mMg v`Dx dy kwrx ArQ-ivvsQw iv`c sPIiqkwrI dbwv pYdw huMdy hn Aqy iehdy kwrx ivvsweI invyS iv`c
qyjI (boom) vI AWdI hY[ bYNk swK dI lwgq Aqy aplbDqw v`Dky swrw apBog Aqy invyS G`t krx dy leI
kyNdrI bYNk pRiqbMDwqmk modirk nIqI Suru krdI hY[ Kulw bwzwr iv`c srkwrI pRiqBuiqAw ƒ vycky sd`s bYNkW dI
irzrv jrUrqW v`Dwky, btw dr v`Dwky, Aqy cXnwqmk aupwieAW rwhI apBogqw Aqy ivvsweI swK inXMqirq
krky, kyNdrI bYNk ieho ijhw kr skdw hY[ ien aupwieAw dy rwhI kyNdrI bYNk Kuly bwjwr iv`c swK lwgq Aqy
aplbDqw v`Dwdw hY Aqy ijdy nwl sPIiqkwrI dbwvW ƒ inXMqirq krdw hY[
iesdw Kyqr Aqy sImwvW (Its Scope and Limitations)

pr modirk nIqI dw Kyqr sPIiq inXMqRx iv`c bhuq hI sIimq huMdw hY[ iehdI sImwvW ies qrW hY -
1. mudrw dy vyg ic`c viriD (Increase in Velocity of Money) – sPIiq ƒ rokx iv`c modirk nIqI dI
pRBwivqw dI iek m`hqvpurx sImw hY – jnqw rwhI rwKI mudrw dy vyg iv`c viriD[ kyNdrI bYNk migMgI mudrw dI

252 LOVELY PROFESSIONAL UNIVERSITY