-->

UGC NET Solved Question Paper II in Economics { 2013 September }



1. Marginal Cost is less than the Average Cost when Average Cost falls with


(A) an increase in output


(B) a decrease in output


(C) constant output


(D) no change in output


Answer: (A)





2. The pure monopolist obtains equilibrium level of output when


(A) Marginal Revenue = Marginal Cost


(B) Price = Marginal Cost


(C) Price is the lowest


(D) Price is the highest


Answer: (A)





3. The transformation curve is derived from the


(A) Consumption Curve


(B) Utility Possibility Curve


(C) Social Welfare Function


(D) Production Contract Curve


Answer: (D)





4. Match the items in List – I with the items in List – II :


List – I                                                                        List – II


a. Principles of Economics                                          1. Paul Sweezy


b. Kinked Demand Curve                                           2. Adam Smith


c. Principle of Maximum Social Advantage               3. Marshall


d. Law of Invisible Hand                                           4. Dalton


Codes :


      a b c d


(A) 3 1 4 2


(B) 3 2 4 1


(C) 2 1 3 4


(D) 4 3 1 2


Answer: (A)





5. Assertion (A) : The imposition of Sales Tax does not affect the profit of the monopolist.


Reason (R) : The monopolist shifts the burden of Sales Tax on to the consumer.


Codes :


(A) Both (A) and (R) are true and (R) is the correct explanation of (A).


(B) Both (A) and (R) are true, but (R) is not the correct explanation of (A).


(C) (A) is true, but (R) is false.


(D) (A) is false, but (R) is true.


Answer: (D)





6. Market demand for any goods is a function of


i. price per unit of that goods


ii. price per unit of related goods


iii. income of the consumer


iv. taste and preference of the consumer


Codes :


(A) i and ii only are true.


(B) i and iii only are true.


(C) i, ii and iii only are true.


(D) i, ii, iii and iv are true.


Answer: (D)





7. If the railways are making loss on passenger traffic they should lower their fares. The suggested remedy would work only if the demand for rail travel has a price elasticity of


i. ep > 1


ii. 1 > ep > 0


iii. Zero


iv. One


(A) ii and iii


(B) i and ii


(C) i and iii


(D) ii and iv


Answer: (Wrong Question)





8. Macro economics distinguishes between the real economy and


(A) virtual economy


(B) monetary economy


(C) normative economy


(D) underground economy


Answer: (B)





9. Match the items in List – I with the items in List – II :


List – I                                                                        List– II


i. Psychological Law of Consumption                        1. Ratchet Effect


ii. Relative Income Hypothesis                                   2. Age Structure of the Population


iii. Permanent Income Hypothesis                              3. Distribution of Income


iv. Life Cycle Hypothesis                                           4. Backward Looking Expectations


Codes :


       i ii iii iv


(A) 3 1 4 2


(B) 2 4 1 3


(C) 3 1 2 4


(D) 4 2 3 1


Answer: (A)





10. Assertion (A) : There exits inverse relationship between interest rates and bond prices.


Reason (R) : A bond price represents the present discounted value of the payments agreed upon at the time when the bond was issued.


Codes :


(A) Both (A) and (R) are correct, and (R) is the correct explanation of (A).


(B) (A) is correct, but (R) is not the correct explanation of (A).


(C) (A) is correct, but (R) is incorrect.


(D) (A) is incorrect, but (R) is correct.


Answer: (A)


11. Assertion (A) : The Natural Rate of Unemployment Hypothesis yields in the long run a vertical Phillips Curve.


Reason (R) : The Natural Rate of Unemployment assumes static price expectations.


Codes :


(A) (A) is correct and (R) is the correct explanation of (A).


(B) Both (A) and (R) are correct and (R) is not the correct explanation of (A).


(C) (A) is correct, but (R) is incorrect.


(D) Both (A) and (R) are incorrect.


Answer: (C)





12. In the context of different business cycle theories match the nature of cycle/approach given in List – I with the propounders in List – II :


List– I                                                                                                 List – II


i. Constrained Cycles                                                              1. Paul A. Samuelson


ii. Acceleration – Multiplier Interaction Approach                 2. J. R. Hicks


iii. Capital – Stock Adjustment Principle                               3. Nicholas Kaldor


iv. Real Business Cycles                                                         4. Robert J. Barro


Codes :


       i ii iii iv


(A) 2 1 3 4


(B) 1 2 4 3


(C) 2 1 4 3


(D) 1 3 2 4


Answer: (A)





13. Assuming fixed prices, which of the following statements are true?


1. Monetary policy is more effective, flatter the IS-curve.


2. Fiscal policy is less effective, flatter the LM curve.


3. Fiscal policy is more effective, flatter the LM curve.


4. Monetary policy is ineffective and fiscal policy is fully effective in liquidity trap.


Codes :


(A) 1, 2, 4


(B) 1, 3, 4


(C) 2, 3, 4


(D) None of the above


Answer: (B)





14. Match items given in List – I with those given in List – II :


List– I                                                                                                                         List – II


a. Inventory Theoretic Approach                                                                    1. J.M. Keynes


b. Liquidity Preference as Behaviour Towards Risk                                      2. Milton Friedman


c. Money as a Temporary Abode of Purchasing Power                                  3. James Tobin


d. A Discontinuous Individual Speculative Demand for Money Function    4. W. Baumol


Codes :


      a b c d


(A) 1 4 3 2


(B) 2 3 4 1


(C) 3 2 1 4


(D) 4 3 2 1


Answer: (D)





15. Which country stands at the top in 2011 Human Development Index ranking of 187 countries in H.D.I. Report – 2011 ?


(A) Norway


(B) Australia


(C) New Zealand


(D) U.S.A.


Answer: (A)





16. By an unlimited supply of labour, Lewis meant


(A) infinite elasticity of demand for labour


(B) infinite elasticity of supply for labour


(C) infinite labour available at prevailing wage rate


(D) none of the above


Answer: (C)





17. According to Mrs. Robinson, the stage of ‘Golden Age’ = _______.


(A) Capital growth rate > Labour growth rate


(B) Capital growth rate = Labour growth rate


(C) Capital growth rate < Labour growth rate


(D) Capital growth rate > 1


Answer: (B)





18. According to whom, surplus value should be given to labour ?


(A) Adam Smith


(B) Karl Marx


(C) Gandhiji


(D) Sen


Answer: (B)





19. According to Kuznets, innovation is


(A) Application of new knowledge to production process


(B) Improvement of efficiency of machines


(C) Discovery of new consumption needs


(D) Improvement of marketing techniques


Answer: (C)





20. The approach of social dualism is connected with the following country :


(A) Indonesia


(B) U.K.


(C) Iran


(D) Pakistan


Answer: (A)


21. Assertion (A) : A lump sum tax imposed on a monopolist cannot be shifted to the consumers.


Reason (R) : The lump sum tax becomes a part of his fixed cost and it does not affect the marginal cost of production.


Codes :


(A) (A) is true, but (R) is false.


(B) Both (A) and (R) are false.


(C) (A) is not correct, but (R) is correct.


(D) Both (A) and (R) are correct and (R) is the correct explanation of (A).


Answer: (D)





22. The case for progressive tax rates exists in terms of


(A) Benefits received


(B) Cost of service


(C) Ability to pay


(D) Voluntary exchange approach


Answer: (C)





23. According to Peacock and Wiseman’s analysis, public expenditure increases


(A) in smooth and continuous manner


(B) as time passes


(C) in jerks or step like fashion


(D) both in the short and long runs


Answer: (C)





24. Which one of the following debt redemption method is a process by which maturing debts are replaced by new bonds and there is no liquidation of the money burden of debt ?


(A) Repudiation


(B) Refunding


(C) Conversion


(D) Capital levy


Answer: (B)





25. Fiscal deficit less interest payments is called


(A) Net fiscal deficit


(B) Monetised deficit


(C) Primary deficit


(D) Budgetary deficit


Answer: (C)





26. Mercantilism was based on the ideology of


(A) Globalization


(B) Nationalism


(C) Regionalism


(D) Privatization and Globalisation


Answer: (B)





27. Policy of Protection will benefit


(A) Abundant factor of production


(B) Scarce factor of production


(C) Both (A) & (B) are correct


(D) None of the above


Answer: (B)





28. The Stolper-Samuelson Theorem postulates that the imposition of tariff by a nation causes the real income of the nation’s


(A) both and abundant factors to rise


(B) abundant factor to rise


(C) scarce factor to fall


(D) scarce factor to rise


Answer: (D)





29. Match the items of List – I and with items of List – II from the given codes :


List – I                                                            List – II


I. Adam Smith                                                1. Opportunity cost


II. David Ricardo                                           2. Factor endowment


III. Ohlin                                                         3. Absolute advantage


IV. Haberler                                                    4. Comparative advantage


Choose the correct code :


Codes :


       I II III IV


(A) 3 4 2 1


(B) 4 2 1 3


(C) 2 3 4 1


(D) 1 2 3 4


Answer: (A)





30. Match List – I with List – II :


List – I                                                List – II


I. Rybczynski Theorem                       a. The effect of tariffs on factor prices


II. Metzler Effect                                b. The effect of factor growth on production and growth


III. Stopler- Samuelson Theorem        c. The effect of tariffs on domestic prices


IV. Immiserising growth                     d. The effect of growth on terms of trade


Codes :


       I II III IV


(A) d c a b


(B) d a c b


(C) b a c d


(D) b c a d


Answer: (D)





31. Match items in List – I with the items in List – II :


List – I                                                                                                List – II


a. Rajiv Gandhi Udyami Mitra Yojana                                               1. Jointly set up by Government of India & SIDBI


b. Credit Guarantee Fund Trust of Medium and Small Enterprises   2. Lean Manufacturing


c. National Manufacturing Competitiveness Programme                   3. Control of Cartels


d. National Competition Commission of India                                  4. Promotion of first generate entrepreneurs


Codes :


       a b c d


(A) 4 1 2 3


(B) 4 2 1 3


(C) 4 3 1 2


(D) 3 4 1 2


Answer: (A)





32. Which of the following is not correct about the micro, small and medium enterprises in India ?


(A) It covers both registered and informal sectors.


(B) Its classification criteria is investment in plant and machinery.


(C) The fourth Census of the MSMEs is for the year 2009-10.


(D) According to the fourth Census of MSME, total registered MSME sector comprised 67.1 percent manufacturing units white 32.9 percent were service enterprises.


Answer: (C)





33. What is the ceiling on investment in plant and machinery for small enterprises in India ?


(A) Rs. 25 lakhs


(B) Rs. 5 crore


(C) Rs. 1 crore


(D) Rs. 10 crore


Answer: (B)





34. What is the weight of the manufacturing sector in the Industrial Production Index (2004-05 = 100) ?


(A) 69.0 percent


(B) 72.3 percent


(C) 75.5 percent


(D) 79.2 percent


Answer: (C)





35. Match items of List – I with items of List – II :


List – I                                                                        List – II


a. Bharat Nirman Yojana                                            1. Rural Housing


b. National Food for Work Programme                      2. Merged with SGSY


c. Indira Awas Yojana                                                3. Merged with SGRY


d. Supply of Improved Tool Kits to Rural Artisans   4. Rural Infrastructure


Codes :


      a b c d


(A) 4 3 1 2


(B) 4 2 1 3


(C) 4 1 2 3


(D) 2 4 1 3


Answer: (A)





36. Which one of the following is not reserved for public sector ?


(A) Atomic energy


(B) Railways


(C) Insurance


(D) Port Trust of India


Answer: (C)





37. Assertion (A) : The public distribution system in India has close links with food security for the vulnerable segments of population.


Reason (R) : Public distribution system is failure in India.


Codes :


(A) Both (A) and (R) are true and (R) is correct explanation for (A).


(B) Both (A) and (R) are true and (R) is not correct explanation for (A).


(C) (A) is true, but (R) is false.


(D) (A) is false, but (R) is true.


Answer: (C)





38. What is the share of agriculture sector in India’s National Income at present ?


(A) 5%


(B) 15%


(C) 25%


(D) 27%


Answer: (B)





39. The Service Area Approach was implemented under the purview of


(A) Lead Bank Scheme


(B) Integrated Rural Development Programme


(C) Training the Rural Youth for Self-employment


(D) Mahatma Gandhi National Rural Employment Guarantee Scheme


Answer: (A)





40. During the British Raj, the Mahalwari System in Indian Agriculture was introduced by


(A) Cornwallis


(B) Curzon


(C) Johnson


(D) W. Bentinck


Answer: (D)





41. Technology Mission on oilseeds was started in India in the year


(A) 1975


(B) 1980


(C) 1986


(D) 1992


Answer: (C)





42. High Yielding Varieties Programme in India does not include


(A) Wheat


(B) Pulses


(C) Jowar


(D) Maize


Answer: (B)





43. As per the latest SRS data, which of the following age-group has the lowest age-specific fertility rate in India ?


(A) 15-19


(B) 20-29


(C) 30-34


(D) 35-39


Answer: (D)





44. Endogenous technological change is not caused by


(A) FDI


(B) Population size


(C) Population density


(D) Educational level


Answer: (A)





45. Match Group – I with Group– II :


         Group – I                                            Group – II


a. Variance                                          i. Sampling distribution


b. Mode                                               ii. Normal distribution


c. χ2 distribution                                  iii. Measure of dispersion


d. Mesokurtic distribution                  iv. Measure of central tendency


Codes :


      a b c d


(A) i iii ii iv


(B) iii iv i ii


(C) ii iv iii i


(D) iv ii i iii


Answer: (B)





46. Assertion (A) : Fisher’s Index No. is ideal Index No.


Reason (R) : Fisher’s Index satisfies time reversal and factor reversal tests.


Codes :


(A) Both (A) and (R) are true and (R) is the correct explanation of (A).


(B) Both (A) and (R) are true, but (R) is not correct explanation of (A).


(C) (A) is true, but (R) is false.


(D) (A) is false, but (R) is true.


Answer: (A)





47. There are 12 white balls, 8 red balls and 5 green balls in a basket. What is the probability that a ball drawn is either red or white ?


(A) 12/25


(B) 8/25


(C) 20/25


(D) 15/25


Answer: (C)





48. If the mean and variance of a given distribution is 8 and 0.25, then the coefficient of variation will be


(A) 4 percent


(B) 8 percent


(C) 12 percent


(D) 16 percent


Answer: (D)





49. Coefficient of determination is given as


(A) r/1 – r2


(B) 1 – r2


(C) 1 + r2


(D) r2


Answer: (D)





50. For testing the equality of population variances the test to be applied is


(A) Student’s t test


(B) χ2 test


(C) F distribution


(D) Z distribution


Answer: (C)


Related Posts

Post a Comment

Labels

General Knowledge 902 General Studies 719 Central Govt. Job 309 General Tamil 177 Mock Test 133 PAPER - I 120 Civics 101 Indian Constitutions 91 Library Science Quiz 80 Anna University Jobs 72 Library and Information Science Paper II 71 Librarian Jobs 70 Computer Science Quiz 64 History Quiz 59 General English 56 NEET 2017 Model Questions 53 Geography 45 Library and Information Science 35 Computer Science 34 Computer Science PAPER - III 32 History Paper II 32 6th Tamil 30 Computer Science PAPER - II 22 Library and Information Science Paper III 19 PAPER - II 18 10th Science 17 General Science Mock Test 17 Life Science Quiz 17 6th Standard Science 16 9th Science 14 Nobel Awards 14 CBSC NET 13 History Mock Test 13 PAPER - III 13 Medical Physicist 12 Economics Paper II 10 8th Science 9 7th Tamil 8 Commerce Paper-2 8 Economics Paper III 8 History Paper III 8 NCERT Text Book 8 General Tamil Quiz 7 Home Science Paper II 7 Labour Welfare Paper III 7 8th Tamil 6 Anthropology Paper II 6 Anthropology Paper III 6 Arab Culture and Islamic Studies Paper II 6 Arab Culture and Islamic Studies Paper III 6 Archaeology Paper II 6 Archaeology Paper III 6 Comparative Literature Paper II 6 Comparative Literature Paper III 6 Comparative Study of Religions Paper II 6 Comparative Study of Religions Paper III 6 Criminology Paper II 6 Criminology Paper III 6 Education Paper - II 6 Education Paper - III 6 English Paper - II 6 English Paper - III 6 Environmental Sciences Paper - II 6 Environmental Sciences Paper - III 6 Forensic Science Paper II 6 Forensic Science Paper III 6 Geography Paper II 6 Geography Paper III 6 Home Science Paper III 6 Human Rights and Duties Paper II 6 Human Rights and Duties Paper III 6 Indian Culture Paper - II 6 Indian Culture Paper - III 6 International and Area Studies Paper II 6 International and Area Studies Paper III 6 Labour Welfare Paper II 6 Law Paper - II 6 Law Paper - III 6 Management Paper - II 6 Management Paper - III 6 Mass Communication Paper II 6 Mass Communication Paper III 6 Museology and Conservation Paper II 6 Museology and Conservation Paper III 6 Music Paper II 6 Music Paper III 6 Performing Arts Paper II 6 Performing Arts Paper III 6 Philosophy Paper II 6 Philosophy Paper III 6 Physical Education Paper - II 6 Physical Education Paper - III 6 10th Tamil 5 Commerce Paper-3 5 Folk Literature Paper II 5 Folk Literature Paper III 5 Geography Mock Test 5 Linguistics Paper II 5 Linguistics Paper III 5 7th Science 4 9th Tamil 4 Chemistry 4 Geography Quiz 4 11th Tamil 3 6th Standard History 3 7th Tamil Mock Test 3 9th standard Tamil Quiz 3 CSIR-NET - Chemistry 3 Computer Science Video 2 Mathematics Paper II 2 CSIR-NET - Physics 1 Civil Engineer Mock Test 1 Computer Science Paper II 1 General Knowledge Mock Test 1 Geology 1 Interview Questions 1 January Current Affairs - 2016 1 LIS Questions 1 Library Science Paper II 1 Life Science 1 Life Science Paper II 1 Mathematics Quiz 1
Subscribe Our Posting