UGC NET Economics Exam January 2017 – Paper II
Paper – II
Note : This paper contains fifty (50) objective type questions of two (2) marks each. All questions are compulsory.
UGC NET Economics Exam January 2017 – Paper II
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Question 1 of 50
Marginal rate of transformation between two goods X and Y is defined asCorrectIncorrect
Question 2 of 50
Consider the following statements regarding the expansion path of a firm :
I. It shows least cost combination for producing different level of outputs.
II. The input prices remain constant.
Of the above which statement is/are true ?
Answer from the codes given below :CorrectIncorrect
Question 3 of 50
The First Fundamental Theorem of Welfare Economics requiresCorrectIncorrect
Question 4 of 50
Which among the following allocation/distribution corresponds to Rawlsian concept of equity ?CorrectIncorrect
Question 5 of 50
Under discriminating monopoly, if the elasticity of demand in market I is 2 and in market II, it is 1, (elasticities being in absolute terms) then the price behaviour of the monopolist will be :CorrectIncorrect
Question 6 of 50
Given the demand function : Q = 20 P , where symbols have their usual meaning, at which price, the elasticity of demand would be unity ?CorrectIncorrect
Question 7 of 50
The idea of indicative planning was first adopted in which Five year Plan of India ?CorrectIncorrect
Question 8 of 50
Consider the following statements about Rashtriya Swasthya Bima Yojana (RSBY) :
(A) Under RSBY the premium is shared on 85 : 15 basis by the centre and state governments.
(B) In the case of the North-Eastern States and Jammu & Kashmir, under RSBY the premium is shared in a 90 : 10 ratio.
Which of the statement(s) given above is/are correct ?CorrectIncorrect
Question 9 of 50
Match the following from the lists given below :
List – I List – II
a. National Rural Employment i. 2001
b. Sukanya Samridhi Yojana (SSY) ii. 1980
c. Food for Work Programme (FWP) iii. 1983
d. Rural Landless Employment
Guarantee Programme (RLEGP) iv. 2015CorrectIncorrect
Question 10 of 50
Which of the following has the highest share in India’s external debt at the end of March 2015 ?CorrectIncorrect
Question 11 of 50
R.B.I. can print currency notes upto the value of :CorrectIncorrect
Question 12 of 50
Union Budget 2016-17 imposed a 15% surcharge on the income exceedingCorrectIncorrect
Question 13 of 50
‘Paramparagat Krishi Vikas Yojana’ aims to boost :CorrectIncorrect
Question 14 of 50
Classical dichotomy refers to which one of the following ?CorrectIncorrect
Question 15 of 50
The basic rationale of the theory of ‘Big-Push’ is based upon the idea ofCorrectIncorrect
Question 16 of 50
“Central problem in the theory of economic development is to understand the process by which a community which was previously saving 4 to 5 per cent or less of its national income, converts itself into an economy where voluntary savings is running about 12 to 15 of national income or more.” Who among the following economists is attributed with this view ?CorrectIncorrect
Question 17 of 50
In the Harrod-Domar equation g = s/v, where v is defined as :CorrectIncorrect
Question 18 of 50
Leibenstein in his critical minimum effort thesis treats population as a factor that isCorrectIncorrect
Question 19 of 50
Who among the following economists was not associated with the Dependency Theory of Development ?CorrectIncorrect
Question 20 of 50
The saving function used in the neo-classical growth model is a :CorrectIncorrect
Question 21 of 50
Consider the following items in the balance of payment in India
I. NRI deposits
Which among the above is/are part of the capital account of balance of payments ?CorrectIncorrect
Question 22 of 50
Which of the following pairs is not correctly matched ?CorrectIncorrect
Question 23 of 50
Which among the following is correct for the discretionary fiscal action ?CorrectIncorrect
Question 24 of 50
Who among the following called trade as the ‘hand maiden’ of growth ?CorrectIncorrect
Question 25 of 50
For the import substitution policy of Latin American countries in 1950’s which of the following is/are true ?
I. It resulted in overvalued exchange rate.
II. It treated development as a natural process.CorrectIncorrect
Question 26 of 50
Consider the following concepts :
I. Leontief paradox
II. Linder Hypothesis
Which among the following can be treated as exception to the conclusions of the Heckscher-Ohlin theory ? Answer from the codes below :CorrectIncorrect
Question 27 of 50
Which among the following statements are true for the proposed GST arrangements in India ?
I. Both Centre and State taxes will be collected at the point of sale.
II. The Centre and State GST will be charged on the manufacturing cost.
Of the above, which statement/s is/are true ? Answer from the code below :CorrectIncorrect
Question 28 of 50
Economists refer to an unanticipated inflation that reduces the real value of outstanding government debt as :CorrectIncorrect
Question 29 of 50
A public good is
(i) non-excludable in nature.
(ii) nonrival in consumption.
(iii) excludable in nature.
(iv) a good that public must possess.
Select the correct answer using the codes given below :CorrectIncorrect
Question 30 of 50
A forward-shifted tax will affectCorrectIncorrect
Question 31 of 50
Assume B is social benefits, C is social costs, r is the social discount rate, t is the time and T is the life of the investment project. The Net Present Value (NPV) of a project isCorrectIncorrect
Question 32 of 50
With reference to the characteristics of ‘non-excludability’ and ‘non-rivalry’, “Law and Order” is a classic example ofCorrectIncorrect
Question 33 of 50
In the trade cycle theory of J.R. Hicks, long run equilibrium growth is determined byCorrectIncorrect
Question 34 of 50
Which among the following is not a characteristic of stagflation ?CorrectIncorrect
Question 35 of 50
Consider the following statements regarding the consumption function fitted by Simon Kutznets to US economic data for the period 1869 to 1929 :
I. There appeared no constant terms in the linear consumption function so fitted.
II. The APC and MPC were not significantly different.
Which of the above statement/s is/are true ? Answer from the codes below :CorrectIncorrect
Question 36 of 50
Which among the following theory/approach does not treat consumption to depend upon expected income ?CorrectIncorrect
Question 37 of 50
In an economy, the saving and investment functions are given as :
S = – 100 + 0.2 y
I = – 30 + 0.1 y
What will be equilibrium level of income ?CorrectIncorrect
Question 38 of 50
For the set of observations : 0, 4, 5, 7, 100, which one of the following is the most suitable average ?CorrectIncorrect
Question 39 of 50
Which is a random sampling method ?CorrectIncorrect
Question 40 of 50
The area between – 3σ and + 3σ under standard normal curve isCorrectIncorrect
Question 41 of 50
For a symmetrical distribution skewness isCorrectIncorrect
Question 42 of 50
Given the following data :
Number of observations = 100
Arithmetic Mean = 180
Variance = 324
The coefficient of variation will beCorrectIncorrect
Question 43 of 50
Which of the following satisfies time reversal test but not factor reversal test ?CorrectIncorrect
Question 44 of 50
For testing the association of attributes which of the following tests is suitable ?CorrectIncorrect
Question 45 of 50
Note : Questions 45 to 50 are Assertion (A) and Reason (R) type. Key to these questions is as follows :
Assertion (A) : In the long period and in perfect competition, a firm earns only normal profit.
Reason (R) : There are no transport costs in the system.CorrectIncorrect
Question 46 of 50
Assertion (A) : Labour becomes ready to work overtime.
Reason (R) : Industry pays its employees efficiency wage.CorrectIncorrect
Question 47 of 50
Assertion (A) : The principle of progressive taxation is a generally accepted state policy.
Reason (R) : Progressive taxation does not affect distribution of income and wealth.CorrectIncorrect
Question 48 of 50
Assertion (A) : Stagflation can develop due to market imperfections.
Reason (R) : Wage flexibility can cause stagflation.CorrectIncorrect
Question 49 of 50
Assertion (A) : Friedman treats money as a Luxury good.
Reason (R) : It serves as a medium of exchange.CorrectIncorrect
Question 50 of 50
Assertion (A) : Moving average method is a method of trend estimation.
Reason (R) : Regression method is used to estimate fluctuations in time series.CorrectIncorrect