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    Ugc Net Economics 2000 MCQ Previous Year - Mocktime Publication - Mocktime - Anna's Archive

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    Ugc Net Economics 2000 MCQ Previous Year - Mocktime Publication - Mocktime - Anna's Archive

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    Ugc Net Economics 2000 Mcq Previous Year -- Mocktime Publication -- Mocktime -- Fe8dca5d80eabeaec9b11caa2d12b771 -- Anna’s Archive

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    Ugc Net Economics 2000 MCQ Previous Year - Mocktime Publication - Mocktime - Anna's Archive

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    NET-JRF ECONOMICS PREVIOUS YEAR QUESTIONS 2000+ MCQ BANK WITH QUICK ANSWER KEY NET/JRF, PGT, LECTURER & TEACHER EXAMS Content: Previous Year Questions included from all papers held by UGC NTA CBSE NET/JRF yearly Exams. Features: 1. Answer Keys are given for ready reference along with questions 2. All-important MCQs included which are repeatedly asked in various exams 3. Questions with different Difficulty levels included 4. Questions are categorized in different sets Table of Contents Part 1. NET JRF Economics Previous Year Questions Part 2. NET JRF Economics Previous Year Questions Part 3. NET JRF Economics Previous Year Questions Part 4. NET JRF Economics Previous Year Questions Part 5, NET JRF Economics Previi is Year Questions .... Part 6, NET JRF Economics Previous Year Questions --------e eccentrics M Part 7. NET JRF Economics Previous Year Questions ....c.c.cscusssesenseentntrtctntreeteeeeteneeeneees 83, Part 8. NET JRF Economics Previous Year Questions Part 9, NET JRF Economics Previous Year Questions Part 10. NET JRF Economics Previous Year Questions . Part 11. NET JRF Economics Previous Year Questions .. 103 Part 12. NET JRF Economics Previous Year Questions 13 Part 13, NET JRF Economics Previous Year Questions 124 Part 14, NET IRF Economics Previous Year Questions 134 Part 15. NET JRF Economics Previous Year Questions .. 145, Part 16. NET JRF Economics Previous Year Questions 155 Part 17. NET JRF Economics Previous Year Questions .. 165 1. Wen the mrp! cent is xl Ans: NTA NET IRF Beanomes Paper (02 Mach Lise with List a potatoe saree eed seit {Concept Economisg {G) Profit as reward stom Gi) M Kalki Daupun and (CBSE NBT-IRE Bzonomies Paper I erin following Sect ‘oe cde Ans € resesve rug and te comeing pu. of Advertise Don't Advertise Adertie [1.6 160 Fim Dorr | 7.9 20,2 Select the const newer from the cree given below: Cone Ans D (RSE NET IRE Economies Pper IT 5. Which ofthe falling wil be ue for bath © Price oqa wo mpinal ort, rors Q&T tin ante en" Wee : Ane D rc amas apaso> 2 BD=@ co=/() o»=1(02) A p=/DIB.D~s91C see ere sans (ERSE NET IRE Beonomies Paper I os dra, ster ‘oe [rset fom PO 6 PO Ad cman cer \ a\o ° Pata D. Nothing can be said about the nature of the good. ‘Ans: C UGC NET JRF Economics Paper HI Q9. When an information asymmetry is observed after an agreement is obtained between individuals, it is called: A. Signalling B. Moral hazard CC. None of the above D. Both (A) and (B) above Ans: B CBSE NET JRF Economics Paper III QUO. For the function Q = A. Ke. Lp, which of the following is correct? A. The degree of homogeneity is 1 B. Elasticity of substitution is equal to a + B C. Output elasticity with respect to capital is a D. Marginal product of a factor = Average product of the factor Ans: C UGC NET JRF Economics Paper 1 QUL. Gilt-edged market means: A. Bullion Market B. Market of pure metals C. Market of government securities D, Market of commodities Ans: C NTA NET JRF Economics Paper Q12. According to M. Friedman, Quantity Theory of Money is the theory of: A. Value of money B. Price determination C. Nominal income 1D. Demand for money 3 Ans: D CBSE NET JRF Economics Paper 1 Q13. ‘Menu costs” in relation to inflation refers to: A. Cost of revaluing currency. B. Cost of altering price lists. C. Cost of the maintenance of monetary base. D. Cost of finding better rates of return, Ans: B UGC NET JRF Economics Paper HT Q14. Consider the following statements: (@) ‘Liquidity trap’ isa situation when people prefer to hold money rather than investing it (6) “Liquidity preterence’ is the situation when people prefer (o invest money rather than hold it. (c) ‘Liquidity crunch’ is a situation of short supply of money in the money market. (d) ‘Credit crunch’ is a situation of short supply of ‘money in the loan market, Select the correct statements using the code given below: A.(@). (b) and (d) B. (a), (c) and (d) C. (B), (c) and (a) D. (a), (b) and (¢) Ans: B CBSE NET JRF Economics Paper IIE QUIS, The Theory in which trade cycle is generated due to excess of actual over the desired investment has been given by who amongst the following? A.RG, Hawury B. F. Hayek CP. Samuelson D.J. Schumpeter Ans: B ‘NET JRF Economics Paper IT Q16. Prebisch-singer hypothesis relates to: A. Balance of payments problem of developing countries. B. Terms of trade of developing countries. C. Prevalency of poverty among developing countries. D. Inequality of income in developing countries. Ans: B NTA NET IRF Economies Paper Q17. Which amongst the following is not correctly matched with regard to balance of payments account? Item Nature ‘A. Import of goods and services Debit in current account B. Receipt of transfer payments current Credit in the account C. Direct investment receipts Credit in the capital account D. Portfolio investment redemption Debit in the current account Ans: D (CBSE NET JRF Economics Paper It QU8. ‘The absorption approach’ of analyzing balance of payments was formulated by: AM. Friedman B. Marshall and Lerner Sydney Alexander D. Haberler Ans: C UGC NET JRF Feonomics Paper 1 Q19. Consider the following statements regarding the ‘Marginal Standing Facility (MSE). (a) MSF is on the Tine of the existing LAF and is part of it. (b) MSF is a costlier route than Repo. (©) MSE functions as the last resort for Banks to borrow short term funds. is linked to the net demand and time ies of the Banks. Choose the correct cade given below. A.(b), (c) and (a) B. (a), (B) and (c) €.(@), (¢) and (@) D. (a), (b), (e) and (d) Ans: A CBSE NET IRF Economics Paper IIE Q20. Which of the following is likely to be most inflationary in its impact? A. Repayment of public debt B. Borrowings from the public to finance a budget deficit C. Borrowings from banks to finance a budget deficit D. Creating new money to finance a budget defi Ans: D UGC NET JRF Economies Paper Q21. There is incomplete specialization in production when country faces: ‘A. constant opportunity costs B. decreasing opportunity costs C. increasing opportunity costs D. indeterminate opportunity costs Ans: C NTA NET JRF Economics Paper Q22. According to Mercantilists, trade is a: A. Positive sum game B. Infinite sum game C. Zero sum game D. Negative sum game 4 Ans: C CBSE NET JRF Economics Paper 1 Q23. Which of the following would cause Rupee 10 depreciate against U.S. Dollar, other things being equal? ‘A.A rise in interest rates in India, B.A fall in incomes in U.S.A. C. An expected rise in the external vahue of rupee. D. An increased flow of foreign investment into India. Ans: B UGC NET JRF Economics Paper HI Q24. Let elasticity of demand for exports for a certain country be ex and elasticity of demand for imports be em. Assume that the country devalues its currency. Its balance of payments will almost certainly show an improvement if: Avextem> 1 Certem=1 Bertemet D.ex=em=1 Ans: A CBSE NET JRF Economics Paper Il Q25. Which of the following statement about the India’s balance of payments is not correct? A. If a foreign citizen deposits some money in a bank {n India, the accounts regard this as a credit. B. The current account balance shows only the balance for the trade in goods and services combined. C. Allowing for errors and omissions, the accounts always balance. D. If the country’s reserves of foreign currencies increase then there is a minus sign for this entry. Ans: B UGC NET JRF Economics Paper L Q26. Which amongst the following would be most effective in mitigating the effect of externalities? A. Fiscal policy B. Regulation of monopoly C. Active monetary policy D. Freeing the markets Ans: A NTA NET JRF Economics Paper Q27. Which of the following is a capital receipts in the Government budget? A. Interest receipts on Ioans given by the Government to other parties. B. Dividend and profit of public enterprises. C. Borrowings of the government from the public. D. Property tax receipts. Ans: C CBSE NET JRF Economics Paper 1 Q28. Which method can help in obtaining a welfare improvement if externalities exist? A. Regulation B. Assigning property rights and permitting bargaining C. Pigovian taxes D. All of the above Ans: D UGC NET JRF Economics Paper 1 29, Income tax is generally based on the principle of: A. Benefit received principle B. Ability to pay principle C. Willingness to pay principle D. None of these Ans: B CBSE NET IRF Economics Paper IT Q30. Tax buoyancy is expressed as: ‘-Y AE = ae ay 1b B. Eby = Sox ay 7 CPt oY Where, Ey = Buoyancy of tax revenue toincome Total Tax revenue ‘ATo= Change in total tax revenue Y = Income AY = Change in income Ans: A UGC NET JRF Economics Paper It Q3L. New Keynesians use which of the following to explain price and wage stickyness? A. Staggered labour contracts B. Menu Costs C. Behaviour based on bounded rationality D. All of the above Ans: D NTA NET IRF Economies Paper Q32. Non Accelerating Inflation Rate of Unemployment (NAIRU) means: A. a rate of unemployment for which the change in the rate of inflation is zero. B. a rate of inflation which makes the rate of unemployment zero. C. arate of inflation for which the change in the rate of unemployment is zero. D. arate of unemployment which is equal to the rate of inflation 5 Ans: A CBSE NET JRF Economics Paper 1 Q33. The relationship described by the Expectations- Augmented Phillips curve is correct in which of the following? A. Only in the long run, B. Only in the short run. C. Both in the short rum and in the long run. D. Neither in the short run nor in the long run, Ans: A UGC NET JRF Feonomies Paper 1 (Q34. Statutory incidence of a tax deals with: A. the person(s) legally responsible for paying the tax. B. the amount of revenue left over after taxes. C. the amount of taxes paid after accounting for inflation D. the amount of tax revenue generated after a tax is levied. Ans: A CBSE NET JRF Economics Paper It (Q35. Maximum social advantage is achieved when: A. Total Social Sacrifice = Total Social Benefits B. Marginal Social Sacrifice = Marginal Social Benefits C. Net Social Sacrifice = Net Social Benefits D. Average Social Sacrifice = Average Social Benefits Ans: B UGC NET JRF Economies Paper (Q36. What is the nature of equilibrium in the IS-LM model? A. Stock equilibrium B. Flow equilibrium C. Stock and flow equilibrium D. Oscillating equilibrium Ans: C NTA NET JRF Economics Paper Q37. In an economy, the GDP deflator is found to be 110 for the current year. If the GDP has registered an annual growth rate of 15 per cent in the same year, then, the rate of growths of real GDP will be: ASH B. 1.5% C. 25% D.2.5% Ans: A CBSE NET JRF Economics Paper Q38. Which of the following growth model(s) assume(s) Neutral Technical Progress? ‘A. Harrod model B, Solow model C. Both (A) and (B) D. Neither (A) nor (B) Ans: C UGC NET JRF Economics Paper IIT (Q39. For the capitalist economy, the primary objective of the New Classical Economics is to explain which of the following? ‘A. Business cycle phenomenon B. Underemployment C. Wage-price rigidity D. Effectiveness of Government policy Ans: A CBSE NET JRF Economics Paper III Q40. Consider the following statements: (a) Effective demand in a market is the demand for a product or service which occurs when purchasers are constrained in a different market. (b) Notional demand is the demand that occurs when purchasers are not constrained in any market. Which of the above statements Answer from the code below: A. Only (a) is correct B. Only (6) is correct C. Both (a) and (6) are correct D. Neither (a) nor (b) is correct Ans: C UGC NET JRF Economics Paper IT Q4L, Which of the following statements about the AK model (Y = AK) of growth is false? ‘A. This is a part of endogeneous growth theories. B. The model assumes that an increase in the physical stock of capital will shift the production function upwards, C. The model assumes diminishing returns to capital. D. The model suggest that if the level of investment is higher than depreciation, there would be sustained growth. 6 Ans: C NTA NET JRF Economics Paper Q42. Consider the following production function forms with a technical progress term A(). (a) Q=f(K, AML) ()Q=F(AD. Kn Ld (0) Q= AWS CK, Lz) Of the above which production function, with labour augmenting technology will keep the distribution of output between Labour and capital as constant? Answer from the code below: A. Only (a) B. Both (a) and (b) C. Only (c) D. Both (a) and (c) Ans: A CBSE NET JRF Economics Paper 1 Q43. Which amongst the following is not a feature of JLB. Meade’s mode!” A. Perfect competition prevails. B. Economy produces consumption goods and producer goods. C. Perfect substitution is consumption and capital goods. D. It examines the relationship between the growth rate of population and growth rate of savings. Ans: D UGC NET JRF Economics Paper HI Q44. According to neo-classical theory of distribution, constancy in the wage share in national income would come about only when the clasticity of factor substitution: ‘Ais less than one C.is zero possible between B. is equal to one D. is greater than one Ans: B CBSE NET IRF Economics Paper 11 (Q45. If marginal propensity to import is 0.1 and the ‘marginal propensity to consume is 0.7, the value of the income multiplier will be: A125 B. 2.33 C25 D.3.33 Ans: C UGC NET JRF Economics Paper Q46. “Workers must own the capital to which their savings has given rise.’ This is an important assumption of the growth model, developed by: ALL. Pasinetti B.N. Kaldor C.R. Solow D.J.E. Meade Ans: A NTA NET JRF Economics Paper Q47. Leibenstein in his critical minimum effort thesis treats population as a factor that is: A. Income-generating B. Investment-inducing C. Income-depressing D. Market-expanding Ans: C CBSE NET JRF Economies Paper 11 Q48. Dusenberry was of the opinion that less developed counties will have serious and adverse effect on their balance of payments due to: A. demonstration effect B. multiplier effect C. backwash effect D. spread effect Ans: A UGC NET JRF Economics Paper Ti (Q49. In Solow’s growth model, the output per capita is a function of: A. Labour-Ourput ratio B. Capital-Ourput ratio C. Technical progress D. Capital-Labour ratio Ans: D CBSE NET JRF Economics Paper 11 Q50. Which of the following is not a correct feature for the absolute convergence to hold good? A. Same population growth rate B. Same savings propensity C. Same capital-labour ratio D. Different capital-labour ratio Ans: C UGC NET JRF Economies Paper I Q51. Which one of the following schemes is not included in the Rashtriya Krishi Vikas Yojana (RKVY)? A. National Mi B. Saffron Mission C. Accelerated Fodder Development Programme D. Alll of the above mn for Protein Supplements, Ans: * NTA NET IRF Economies Paper Q52. Which of the following option(s) is/are true for National Action Plan for Climate Change? A. It was launched in 2008 B. Ithas 8 vertical missions for pollution control. C. Both (A) and (B) are true D. Neither (A) nor (B) is true Ans: C CBSE NET JRF Economics Paper I Q53. Which one of the following committees recommended to establish the National Bank for Agriculture and Rural Development (NBARD) in India? A. Narsimham Committee B. Chakravarti Committee C. Abhijit Sen Committee D. Shivaraman Committee Ans: D UGC NET JRF Fconomics Paper TIT Q54. Which of the following is the cause of disequilibrium between warranted rate of growth and actual rate of growth in the Harrod model? A. Discrepancy between Ex-ante investment and Ex- post investment, B. Discrepancy between Exante investment and Ex- ante savings. C. Discrepancy between Ex-ante savings and savings. D. Discrepancy between Ex-post investment and Ex- post savings. -post Ans: A CBSE NET JRF Economics Paper IIL Q55. Which one of the following is true for demand side vicious circle of poverty? ‘A. Low income — Low demand — Low investment —> Capital deficiency + Low productivity —> Low income B. Low productivity > Low income — Low savings — Low investment — Capital deficiency C. Low income —+ Low investment —> Low demand = Low Capital deficiency D. Low demand — Low saving — Low productivity — Low investment + Capital deficiency Ans: A UGC NET JRF Economics Paper I Q56. Which of the following is not a scheme for the upliftment of women in India? A. Beti Bachao, Beti Padhao B. Sukanya Samridhi Yojana C. Gender Budgeting D. UJALA Scheme Ans: D NTA NET JRF Economics Paper Q57. Which of the following is often referred to as the “hedonic price’ method for valuing environmental assets? ‘A. Using linkages between variations inhouse prices and geographical proximity to an environmental asset. B. Using “existence value’ to estimate the value of an environmental asset. C. Using travel costs to estimate the value of an environmental asset. D. Using ‘willingness to pay’ to value an environmental asset. Ans: A CBSE NET JRF Economies Paper I Q58. Identify the correct statement about the relationship between total fertility rate and gross reproduction rate, A.TER GRR D. Allof the above Ans: C UGC NET JRF Economics Paper Il Q59. In the long period, which one of the following curves would aptly represent the time path of population for a developing economy?A. Exponential curve B. Logistic curve C. Lorenz curve D. Hyperbolic curve Ans: B CBSE NET JRF Economics Paper HI Q60, Which of the following is portrayed in the population pyramid of a country? ‘A. Rural-urban distribution of population B. Young-old distribution of population. C. Age and sex distribution of population. D. Gender distribution of population. Ans: C UGC NET JRF Economics Paper Q61. The share of agriculture in the GDP of India has declined over the years. Which of the following is not ‘a correct reason for this? A. Relatively faster rate of growth of nonagricultural sectors in the economy. B. Stagnant or slow rise in yield of agriculture commodities. C. Bducated rural youths are not opting for agriculture as an occupation, D. Low value addition in case of agricultural commodities. Ans: C NTA NET IRF Economies Paper Q62, Which of the following statements are correct regarding Finance Commission in India? (a) Finance Commission is constituted under Article 275 of the Constitution, (b) The provision for Grants-in-aids to the states are provided for under Article 280. Which of the above statement(s) is/are correct. Choose the correct answer from the codes given below: A. Only (a) C. Both (a) and (6) B. Only (6) D. Neither (a) nor (6) ‘Ans: D CBSE NET JRF Economics Paper I Q63, According 10 Economic Survey 2017-18, the Indian economy is becoming more formalised. This is indicated by which of the following shifts? Select the correct answer from the codes given below: (a) The introduction of GST has brought more firms in the indirect tax net. (b) After demonetisation, a significant increase has taken place in the number of individuals filing income tax returns, (©) An increase in savings in the formal financial sector. Code: A.(a) and (b) B. Only (c) C. (a), (6) and (e) D.(b),(e) Ans: C UGC NET JRF Economics Paper I Q64. Which one of the following statements. is correct? A. Global warming is simply another term for greenhouse effect. B. Global warming is an entirely natural phenomenon. C. Global warming means melting down of glaciers. D. Global warming is the rise in average temperature at earth’s surface. Ans: D CBSE NET JRF Economics Paper 1 Q65, In the context of doubling of farmers income objective, which of the following is not correct? A. The target year is 2022-23. B. It is real income which is to be doubled. C. Income from cultivation alone is to be doubled. D. Diversification of agriculture is to be promoted to achieve this objective, Ans: C UGC NET JRF Economics Paper Q66. As on 31st, March 2017, external debt of India ‘was in which of the following range as a percentage of GDP? A. 1410 16 per cent B. 16to 18 per cent C. 18 t0 20 per cent D. 20 to 22 per cent Ans: D NTA NET JRF Economics Paper (Q67. As per census 2011, rank the following states in descending order of degree of urbanisation. (@) Tamil Nadu (b) Maharashtra (©) Goa (d) Punjab Select the correct answer from the codes given below: A. (B), (a), (d), (0) C.@), (0, @, 0) B. (0), (a), (b), (d) D.@, (6), @, (0) Ans: B CBSE NET JRF Economics Paper 1 Q68. In 2016-2017 the Centrally Sponsored Schemes (CSS"s) were restructured by the Government of India. Select the correct statements related to the restructuring, using the codes given below: (@) The decision of restructuring was taken by the Governing Council of the NITT Aayog. (6) This will avoid overlaping of expenditure and provide visibility and impact to the CSS’s. (c) The CSS’s have been classified into flagship and extra flagship categories. (d) The existing number of the CSS's is 37. Code: A. (a), (6), (©) and (d) B. (6), (0) and (d) C. (@) and (b) D. (a), (B) and (©) Ans: C UGC NET JRF Economics Paper HI Q69. In the context of the ‘twin balance sheet problem in India, consider the following statements: (a) Over leveraged corporate debt. (6) High Non-Performance Assets of nationalised banks. (0) High fiscal deficit. Select the correct answer from the codes given below: ‘A.(a) and (c) B. (a) and (6) CC.) and (e) D. (a), (b) and (e) Ans: B CBSE NET JRF Economics Paper NY Q70. In the last decade, which one among the following sectors has attracted the highest Foreign Direct Investment (FDI) inflow into India’ A. Telecommunication sector B. Defence sector C. Service sector D. Insurance sector 8 Ans: C UGC NET JRF Economics Paper IT Q7L. Which of the following statement(s) is/are true? (a) a common resource is rival and nonexcludable. (b) a public good is non-rival and nonexcludable. Select the correct answer from the codes given below: A. Both (a) and (b) B. Only (a) ©. Only (6) D. Neither (a) and (b) Ans: A NTA NET IRF Economics Paper Q72. Consider the following diagram which shows the production of a commodity under the condition of increasing cost. If a unit tax is imposed on the commodity, what will be the amount of the burden of the tax on the buyers? yo» So r AN 8 PRICE P -— Se att D Nw * quantity A.NL B.LQ CIR D.RQ Ans: D CBSE NET JRF Economics Paper 1 Q73. Which amongst the following pairs is not correctly matched? (Concept) (Organization) A. Gender Development Index UNDP B. Ease of Doing Business World Bank . Inclusion Index World Economic Forum D. World Hunger Index United Nations Ans: D UGC NET JRF Economics Paper 111 Q74, Arrange the following events in the Indian economy in chronological order: (a) First phase of nationalisation of 14 Banks (®) Establishment of Narshimhan Commitee T on Banking system (c) Enactment of FEMA Act (d) Establishment of EXIM Bank of India Code: A. (a), (0), (d), (6) B. (a), (d), (b),(c) C.(@), (0), (b)@) D. (a). ), (©), (6) Ans: B CBSE NET JRF Economics Paper I Q75. In relation to considerations of demographic dividend, there appears to be “demographic dualism’ exhibited by the Indian states. In this regard consider the following factors: (@) Total Fertility Rate (b) Sex Ratio (©) Per capita income Of the above, which factor(s) is/are correct. Answer from the codes below: A. Only (a) B. Both (a) and (6) C. Both (b) and (©) D. Only (b) Ans: A UGC NET JRF Economics Paper 1 Q76. (A) : In Solow’s growth model under equilibrium conditions capital labour ratio does not change. (R) = Substitution between capital and labour is possible. ‘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 Ans: A NIA NET JRF Economics Paper Q77. Palma ratio is a measure of: A. Inequality of income B. Stock market volatility C. Morbidity in a region D. Volatility of crop prices Ans: A CBSE NET JRF Economies Paper 11 Q78. Capital gains means: A. Am increase in the value of an asset. B. An increase in the stock of capital. C. An increase in the yield of an asset. D. Am increase in the amount of foreign capital. Ans: A UGC NET JRF Economies Paper HI Q79. Market failure can occur because of: A. Imperfect competition B. Externalities C. Both (A) and (B) D. Neither (A) nor (B) Ans: C CBSE NET JRF Economics Paper I Q80, Arrange the following books in chronological order of their publication. Select the correct answer from the codes given belo (a) The Affluent Society (6) Asian Drama (c) The General Theory of Employment, Interest and Money (d) Development as Freedom Code: A. (0) (a), €.@).0).(0,@ B. (©). (®). (@) D.@),.@), (a) Ans: B UGC NET JRF Economics Paper IT Q81. Given the Demand function of a consumer D = 10 —2p, the consumer's surplus at price = 2 is: A2 B.10 9 DIS Ans: C NTA NET IRF Economics Paper (Q82. (A) : External forces are of singular importance to economic activities of the developing states. (R) = Relations between the dominant and dependent states are dynamic to reinforce unequal pattern, ‘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. Ans: B CBSE NET JRF Economics Paper 1 Q83. (A) : Devaluation results in expenditure switching in an economy. {R) : Devaluation alters the composition of the current account of the balance of payments, 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. Ans: A UGC NET JRF Economics Paper 11 Q84, (A) : The production possibility Frontier can be a straight line. (R) = The factors are not specialised and ean be substituted at no extra cost. 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 fulse. D. (A) is false, but (R) i Ans: A CBSE NET JRF Economics Paper I Q85. (A) : Intemational trade along the lines of comparative advantage improves the allocative efficiency of existing resources, (R) : Intemational trade is an engine of growth. 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). CC. (A) is true, but (R) is false D. (A) is false, but (R) is true, Ans: B UGC NET JRF Economics Paper 1 ‘Q86. If a sample survey of the same 100 households is conducted in a particular village, annually for five ‘years, the data so collected will be described as: ‘A. Time Series Data B. Cross-section Data C. Panel Data D. Pooled Time Series and Cross-section Data Ans: C NTA NET JRF Economics Paper Q87. A bag contains 5 red, 7 white and 3 green balls. One ball is randomly drawn from the bag, What is the probability that itis green? Ans: B CBSE NET JRF Economics Paper 11 (Q88. Simplex method of solving Linear Programming problems was developed by: ‘A. Koopmans B. Dantzig C. Leontief D. Solow Ans: B UGC NET JRF Economics Paper IIT Q89. Which of the following is condition of economic viability and technological feasibility of Leontief's static system? ‘A. Marshall-Edgeworth conditions B. Kuhn-Tucker conditions C. Hawkins-Simon conditions D. Value of the objective function of primal problem should equal the value of the objective function of the dual of the primal Ans: C CBSE NET JRF Economics Paper 11 Q90, Total cost function of a producer is C = 10 + 5Q + 2Q2. If price is 15, what is marginal cost of the producer in equilibrium? A.10 B.S Cis D4 Ans: C UGC NET JRF Economies Paper 1 QOL. Match the following lists and select the correct answer from codes below: List List-I (a) Contingency Table (i) Stationarity (B) Unit root test (if) Causality (c) Fisher's F test (iti) zo test (d) Granger test (iv) Test of significance of over-all regression Code: MOM A. (iti (iv) Gi) B. (@) i) (ii) (iv) Ca) Gi) D. i) Gi) DG) Ans: A NTA NET IRF Economics Paper Q92. Which of the following statements are valid conceming a recursive system’ (a) The parameters can be validly estimated using separate application of OLS to each equation, (6) The independent variables may be comrelsted with the error terms in other equations. Code: A. (a) only B. (b) only C. Both (a) and (6) D. Neither (a) nor () Ans: C CBSE NET IRF Economics Paper If Q93. If a sample of 100 is to be taken from a population of 1000 farmers consisting of marginal small and large farmers, which of the following will be the most appropriate sampling method? A. Simple random sampling B. Cluster sampling . Stratified random sampling D. Systematic sampling Ans: C UGC NET JRF Economics Paper UIT Q94, In a multiple linear regression with 4 independent variables, the overall regression’s significance is to be tested. Which test would be used? A.Zitest B. Fest C.yptest D.ftest Ans: B CBSE NET JRF Economics Paper 1 Q95. If in a distribution mean is 40, mode is 60 and the standard deviation is 10, then the coefficient of skewness will be: A2 B.2 c.-20 DS Ans: A UGC NET JRF Economies Paper I Q96. Which of the following is not correctly matched for Union Budget 2018-19, announced on 01.02.2018? (As % of GDP) A. Fiscal Deficit 3.5 B. Revenue Deficit 2.2 C. Primary Deficit 1.2 D. Effective Revenuc Deficit 0.3 Ans: A NTA NET JRF Economics Paper Q97. If the producer pays the price for each of the inputs that is used is equal to its value of Marginal product. then which one of the following does he earn? A. Zero supernormal profit B. Monopoly profit C. Positive supernormal profit D. Negative supernormal profit Ans: A CBSE NET JRE Economics Paper 1 (98. In the adjacent diagram, Government should fix the price at which of the following points to make ‘monopoly result in a socially optimal outcome? we fre| ~AGER Aq i o ‘Output = A. At point A B. At point B C. At point C D. At point D Ans: C UGC NET JRF Economics Paper I Q99. Match List-T with List-II and select the correct answer from the codes given below: Listel List-H (Growth Model) (Equation) aN Lak (a) Solow () =F (@) Harvod (iv) 4 = a Code: (a) (b) (c) (a) A. Gi) GD Bi) GD CG) GG) D. (if) (ie) Gi), Ans: A CBSE NET JRF Economics Paper 1 Q100, Generalized Least Squares method of estimation will not be suitable for dealing with which of the following problems: (a) Autocorrelated disturbances (b) Heteroscedastic disturbances (c) Multicollinearity (d) Errors in variables, Code: A.(a) only B.(b) only . (c) and (d) D. (a) and (0) Ans: C UGC NET JRF Economics i n 1. 8 fem ino ak th aman oa proc fe NIA NET IRE Ecanomics Doar (G2 Whi anoggit he folowieg lence B. Minicom af AVC is ot Tower cat thn the Ane (CBSE NET IRF Economies Paper (G3, Whit of dhe ekg fe tat ee ft fet sc ort oe LUGCNET IRE Feomomies Paper 1 a6, de Na nd of tae pater leon of evo z Ans D ‘CASE NET IRE Economies Paper Ht 5. Conte flowing gram With 0 pr ‘Gay A. pins Rand seq D pains Rand 3 ily ‘Ans: (6. If sconomie agen. pret mgt Py BB The uncmploymcat rate wil be les than the natural ff been iaftion ad Ane A NTA NET IRE Feonamies Paper go ps nat pre ng Ams 8 Io he ionic te ftw LGCNEE-IRE Economics Paper IE ®, Asume tat pia, Theat Tt bur te spy of nurs econ, th derand for onion wil no Crincreme became hanturgrs aad onioar se Somplemene Ans: D UGC NET JRF Economics Paper I QIL. Indicate the sequence of the following in terms of their implementation with reference to India: (a) Income tax (6) Expenditure tax (c) Value - added tax at the state level (d) Service tax Choose the correct answer from the code given below: A.(a), (©), ®)(d) C0). 0D, @) B.@), ().@.(, D. (c), @), (a). (b) Ans: B NTA NET JRF Economics Paper Q12. Adam Smith advocated which of the following? (a) laissez faire (b) the invisible hand (© free trade policy (d) competitive markets Choose the correct answer from the code given below: A.(a) and (b) B. (B) and (c) C.(@), @ and (©) D. (a), (B), ©) and (d) Ans: D CBSE NET JRF Economics Paper Q13. Who argued that Keynes's theory of equilibrium with involuntary unemployment is a special case of the general equilibrium model, augmented to include ‘money? A.W. Leontief B.JLR Hicks C.M. Friedman D. D. Patinkin Ans: D UGC NET JRF Economics Paper I Q14. Which amongst the following is not correctly ‘matched ? Concept Economists A. New classical economics Robert Lucas B. Multiple effects of TH. Haavelmo Balanced Budget CC. New Keynssian Paul Romer economics D. Permanent income M. Friedman hypothesis Ans: C CBSE NET JRF Economics Paper 111 QS. Who made the statement, “Inflation is everywhere and always a monetary phenomenon’? A. Milton Friedman B. James Tobin C.T.W. Swan D. A.W. Phillips Ans: A UGC NET JRF Economics Paper 1 QU6. An increase in which of the following would be most likely to increase Long - run growth in developing countries? A. Tariffs on imported capital goods B. Subsidies to business for purchases of capital goods C. Unemployment compensations D. Pension payments Ans: B NTA NET JRF Economics Paper Q17. Which amongst the following economists can be classified as strong advocate of protectionist policy of trade? A.F. List and A. Hamilton B. Adam Smith and David Ricardo C.1S. Mill and P. Krugman D. A. Hamilton and J.S. Mill Ans: A CBSE NET JRF Economies Paper I QI8. Which of the following statements is/are true for the current account of a country? (a) It shows the net income generated in the foreign trade sector (6) It relates to claims and liabilities of financial nature Choose the correct answer from the code given below: A. Only (a) is true B. Only (6) is true C. Both (a) and (6) are true D. Neither (a) nor (6) is true Ans: A UGC NET JRF Feonomics Paper 11 QU9. A Country can have an increased surplus in its balance of trade as a result of: A. declining imports and rising exports B. higher tariffs imposed by its trading partners C. un increase in domestic inflation D. an increase in capital inflow 3 Ans: A CBSE NET JRF Feonomics Paper 11 Q20, Arrange the following grouping of the nations from lower to higher order of integration. (FTA (b) Economic Union (c) Common Market (d) Custom Union Choose the correct answer from the code given below: A. (a), (d), (©), (b) Cb). @.(@).(0) B. (a), (c), (6), (d) D. @), (c), (d), (a) Ans: A UGC NET JRF Economics Paper Q21. Which of the following goods is covered under GST as on Ist July, 2017? A. Electricity B. Liquified Petroleum Gas €. High Speed Diesel D, Petroleum Crude Ans: B NTA NET JRF Economics Paper Q22, If marginal propensity to consume (mp.c) = average propensity to consume (a.p.c) for all levels of income (Y) then the corresponding consumption function will be: A.C=a4bY C.C=bY2 B.C=bY D.C=a+bY2 Ans: B CBSE NET JRF Economics Paper 23. Consider the following: (@) Oligopolistie market structure (®) Economics of scale of the above, which are the essential feature of Rosenstein Rodan’s approach to development? Answer from the code below: A. Both (a) and (b) above B. Neither (a) nor (b) above C. Only (a) D. Only (b) Ans: A UGC NET JRF Economics Paper IIL Q24. The Benefit Theory of allocation of tax burden was given by: A. Seligman B. Lindhal C. Dalton, D. Pigou Ans: B CBSE NET JRF Economics Paper III Q25. What is Baran’s explanation for under development in Asia, Africa and Latin America? ‘A. Monopolistic business from abroad B. Conservative ruling coalitions C. Weak domestic middle class D. Alllof the above Ans: D UGC NET JRF Economics Paper I Q26. Which of the following is a distinctive implication of the New Trade Theory developed by Melitz as different from the New Trade Theory? A. Trade increases the average productivity as more productive firms expand B. Helpful state intervention C. Trade encourage R & D und lead to new products D. A country may both export and import the goods from the same industry Ans: A NTA NET JRF Economics Paper Q27. Consider the following statements about optimal tariff: (a) The beneficiary country is a large country in the world market for a particular good, (6) A deviation from optimal tariff will lead to fall in welfare. Of the above, which statement is correct? Choose the answer from the code below: A. Both (a) and (b) are correct B. Neither (a) nor (b) is correct 4 C. Only (a) is correct D. Only (b) is correct Ans: A CBSE NET JRF Economics Paper Q28. Principle of maximum social advantage is concerned with: A. Taxation only B. Public expenditure only . Public debt only D. Both taxation and public expenditure Ans: D UGC NET JRF Economics Paper IIT Q29. ‘The ability to pay principle of taxation is logically most consistent with the normative notion of: A. tax neutrality B. horizontal equity . value - added taxation D. vertical equity Ans: D CBSE NET JRF Economics Paper IE Q30. The greater the elasticity of supply, the greater is: A. Incidence of tax on buyers B. Incidence of tax on sellers CC. Impact of tax on sellers D. Impact of tax on buyers Ans: A UGC NET JRF Economies Paper IT Q31. Given the consumption function, C = 0.75 Y and the investment function, I = 110 ~ 0.25 i, then the equation of the IS function will be: ALY = 1100.75 BLY =440-i ©. ¥ =500-0.25; D. ¥ = 400-075; Ans: B NTA NET IRF Economics Paper Q32. If the central prediction of the growth model of Solow is valid then: A. Per capita real GDP difference among nations will B. Per capita real GDP difference among the nations will diminish C. Economic freedom as measured by Heritage Foundation Index will decrease D. Population growth rate in rich countries will increase Ans: B CBSE NET JRF Economics Paper U Q33. Match List-1 with List-II and select the correct answers from the code given below: List-1 List-1 (Investment criteria) (Economists) (a) The time series criterion (i) Otto Eckstein (6) The social marginal productivity criterion (ii) A.K. Sen (©) The marginal growth contribution criterion (i) AE. Kahn (d) The marginal per capita reinvestment criterion (iv) Galenstein - Leibenstein Code: ©) @ A. (ii) (iv) (ti) B. i) Gi) GD C.D Lit) () D. Gd GW) Ans: C UGC NET JRF Economics Paper HT Q34. The ultimate effect of the “invisible hand” of Adam Smith is that in a competitive economy everyone: A. benefits if each acts in his/her own interest B. will increase their profits in a free market C. should act to maximise economic growth D. should act to promote the public interest Ans: A CBSE NET JRF Economics Paper IIL Q35. The conjecture that inequalities of income first increase with development and then decrease with further development also known as ‘Inverted U" hypothesis has been: ‘A. Supported by all empirical studies B. Supported mainly by cross section studies and not by time series studies C. Supported by time series and not by cross section studies D. Generally repudiated by empirical studies Ans: B UGC NET JRF Economics Paper I (Q36. If CPT based inflation rate in a country is given as ‘Year : 2017 2016 2015 2014 2013 Inflation rate (%) 2.5679 This trends will be described as: A. Disinflation B. Deflation C. Creeping inflation ——_D._ Stagflation Ans: A NTA NET JRF Economics Paper Q37. The code used under GST for classification of g00ds is called: ALNIC B.HSN C.GSTN D.AITC Ans: B CBSE NET JRF Economics Paper Q38. Which amongst the following statements are true in relation to Indian economy during the period 2014- 16? ‘A. Exports have been buoyant 5 B. Private capital investment happened at brisk pace C. Both A and B are tre D. Neither A nor B is true Ans: D UGC NET JRF Economics Paper I (Q39. Arrange the following in the chronological order: (a) Mahalnobis model (6) Introduction of rolling plan (©) Declaration of plan holiday (@) Inclusive growth strategy Select the answer from the code below: A.(b), (a), (0), (@) B. (a), (c), (b), () C0). (@). (04 D. (a). (@). Ans: B CBSE NET JRF Economics Paper IT Q40. In which of the following sectors, the employment elasticity has been estimated to be greater than one during the period (2004 — 05 to 2009 — 10). A. Agriculture B. Construction C. Manufacturing D. Mining and Quarrying Ans: B UGC NET JRF Economics Paper I Q4L. The sum of squares of deviations of a set of values is minimum when deviations are taken about: A. Arithmetic mean B. Harmonic mean C. Median D. Geometric Mean Ans: A NTA NET IRF Economies Paper Q42, If a sample of 100 is to be taken from a Population of 1,000 farmers consisting of marginal, small and large farmers, which of the following will be the most appropriate sampling method? A. Simple random sampling B. Cluster sampling C. Stratified random sampling D. Systematic sampling Ans: C CBSE NET IRF Economics Paper 1 Q43. If two events A and B are mutually exclusive then which one of the following is correct?” A. P(A + B) = P(A) + P(B) B. P(AB) = P(A). PCR) C. PAB) = PAYP(B) D. (AB) = PLA) — PR) Ans: A UGC NET JRF Economics Paper IL (Q44. If the price data for 1980 and 2000 are given and quantity data are given only for the year 2000 then which type of index number, taking 1980 as the base can be constructed” A. Laspeyre’s Index C. Fisher Index B. Paasche Index D. Kelly Index Ans: B CBSE NET JRF Economies Paper IIT Q48. Which among. the following states has the smallest % of urban population as per census 2011? A. Bihar B. Odisha (C.Himachal Pradesh. Meghalaya Ans: C UGC NET JRF Economies Paper Q46. Assertion (A): Friedman argues that money demand function is a stable function. Reasons (R): Friedman treats money as one type of asset in which wealth holders can keep @ part of their wealth 6 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. Ans: B NIA NET JRF Economics Paper Q47, Assertion (A): Indian agriculture still absorbs a major part of workforce. Reasons (R): Employment elasticity in agricultural sector is hi ‘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 Ans: C CBSE NET JRF Economics Paper 1 Q48. Assertion (A): Revealed preference theory excludes the explanation of Giffen good. Reasons (R): Revealed preference theory considers only negative income elasticity of demand 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 explunation of (A). C.(A) is true, but (R) is false D, (A) is false, but (R) is true, Ans: C ue T JRF Economics Paper 11 Q49. Assertion (A): Many developing countries demand that movement of natural persons across countries should be promoted. Reasons (R): The developing countries have comparative advantage in labour intensive services. 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 tue, but (R) is false. D. (A) is false, but (R) is true, Ans: A CRSE NET JRF Economics Paper 11 Q50. Match the following in List-I and List-II and answer from the code given below List-I List-I1 (a) Sampling distribution (i) Poisson distribution (b) Discrete distribution (i?) Chi-Square Gp) distribution (©) Measures of central tendency (iif) Non-probability based sampling (d) Purposive sampling (iv) Mode Code: @OHOM A. (ii) Gi) Go) B. Gi) () Gi) ) CW @) D. (iv) Git) ( (id) Ans: C UGC NET JRF Economics Paper IL QSL. In explaining the price effect, which of the following is/are constant? (a) Real Income (6) Money Income (c) Price ratio Choose the correct answer from the code given below: Code: A. Only (a) B. Only (b) C. Both (6) and (c) D. Both (a) and (c) Ans: A NTA NET JRF Economics Paper Q52, Movement from an inefficient allocation to an efficient allocation in the Edgeworth Box will: A. increase the utility of all individuals B. increase the utility of at least one individual, but may decrease the level of utility of another person C. increase the utility of one individual, but cannot decrease the utility of any individual D. decrease the utility of all individuals, Ans: C CBSE NET IRF Economics Paper It Q53. A good is called a *Giffen good’ when the income effect is: A. positive and is greater than the substitution effect B. Equal to substitution effect C. Less than the substitution effect 1D. Negative and is greater than the substitution effect Ans: D UGC NET JRF Economics Paper Q54. Which of the following features belong to Cournots’ model of duopoly? (a) It yields determinate and stable equilibrium for the duopolists ) It is equilibrium ‘an adequate representation of Nash (€) If the duopolists combine to form a monopoly, the price changed by them will be less than the equilibrium price without their combining together. Of the above which statements are true? Choose trom the code below: A. All the above are correct, B. (@) and (c) are correct C. (@) and (b) are correct D. (B) and (c) are correct Ans: C CBSE NET JRF Economics Paper Il Q55. Consider the following diagram showing the ‘market demand and supply curves for a commodity. 1f the government fixes the price P1 above the market clearing price Po, then the dead-weight loss is represented by: Price tity A. Area of triangle ABE B. Area of triangle EBC C, Area of tiangle ABE + area of tangle EBC D. Area of rectangle P1A B Pp Ans: C UGC NET JRF Economics Paper 11 Q56. “Bandwagon Effect’ is found in which of the following? A. Life cycle hypothesis B. Permanent income hypothesis C. Absolute income hypothesis D, Relative income hypothesis Ans: D NTA NET JRF Economics Paper Q57. Market prices adjusted to consider differences between social cost-benefit and private costbenefit calculations are: A. Consumer Surplus C. Exchange rate B. Price distribution D. Shadow prices Ans: D CBSE NET JRF Economics Paper I Q58. Which of the following statements about Pareto Optimum are correct? (@) It changes with changes in the distribution of income (b) At the Pareto optimum, MRS in consumption = MRT in production (0) Itis not unique (@) Its obtained under perfect competition Code: A.(@, (©) and (d) B. (6) and (c) C. (a), (b) and (d) D. (a) and (b) Ans: C UGC NET JRF Economics Paper 1 Q59, In the adjacent Figures 1 and 2, the demand curve DD and supply curve SS are shown. Point E and F represent the equilibrium points. Then which of the following is correct? ¥ \D s E Price \v ° Des Xx Fig. 1 y s DB Price e s > 0 pes x Fig 2 ‘A. Both points E and F are the points of stable equilibrium B. Both points E and F are points of unsuble equilibrium C. Equilibrium is siable at point E and unstable at point F 16 Ans: D CBSE NET JRF Economics Paper III (Q60. Which of the following is u problem connected with general equilibrium analysis? A. Existence problem ess problem C. Stability problem D. All of the above Ans: D UGC NET JRF Economics Paper IT Q61, Which of the following would be the initial impact on an economy if wages were to increase more than workers productivity? A. Employment would increase, causing a rightward shift in the aggregate demand curve B. The aggregate demand curve would shift to the left, increasing the price level C. The short - run aggregate supply curve would shift to the left, increasing the price level D. Employment would decrease, causing a rightward shift in the aggregate demand curve 17 Ans: C NTA NET JRF Economics Paper Q62. Permanent income hypothesis assumes positive correlation between which of the following pairs of variables? A. Permanent income and transitory income B. Permanent income and transitory consumption C. Permanent income and permanent consumption D. Transitory income and transitory consumption Ans: C CBSE NET JRF Economics Paper Q63. Which amongst the following is correct for the aggregate demand function shown in the diagram’? AD _— © Y (income) aan) @ > 0 wmeo ot @

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