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NTA NET Economics December-2013 Solved Paper II
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- Secrets to easily score in UGC Paper-I-Get India՚s number 1 postal course with thoursands of UGC NET Paper-I questions Examrace NTA-NET Paper-I Postal Course
- The cost incurred by the firm in hiring labour is called as
- Explicit Cost
- Implicit Cost
- Marginal Cost
- Total Cost
- Answer: a
- The locus of Pareto Optimality in Production and Consumption is given by
- The Social Welfare Function
- The Utility Possibility Curve
- The Transformation Curve
- The Grand Utility Possibility Curve
- Answer: b
- Match List-I and List-II
Table Supporting: NTA NET NTA UGC NET Previous Years Papers December-2013 Solved Paper II List-I List-II - Tea and Coffee
- Car and Petrol
- Gold and Diamonds
- Ragi and Bajra
- Veblen goods
- Substitutes
- Giffen goods
- Complementary
- A
- B
- C
- D
- 2
- 1
- 3
- 4
- 2
- 4
- 1
- 3
- 4
- 1
- 2
- 3
- 4
- 3
- 1
- 2
- Answer: b
- Assertion (A) : In the short run under perfect competition, given the market demand and market supply the industry is in equilibrium at that price which clears the market.
- Reason (R) : In the long run all the firms in the industry earn profit.
- Both A and R are true and R is the correct explanation of (A) .
- Both A and R are true, but R is not the correct explanation of (A) .
- A is true, but R is false.
- A is false, but R is true.
- Answer: c
- Put the following in chronological order on the basis of development:
- Law of Demand
- Revealed Preference Analysis
- Indifference Curve Analyss
- Law of Diminishing Marginal Utility
- 1 3 2 4
- 1 4 3 2
- 1 2 4 3
- 1 3 4 2
- Answer: b
- If the monopolist incurs loss in the short run, then in the long run
- he will go out of business
- he will stay in business
- he will break even
- any of the above is possible
- a and b
- a and c
- a only
- d only
- Answer: d
- The condition of Pareto Optimality holds correct under
- Perfect Competition
- Monopolistic Competition
- Oligopoly
- Monopoly
- Answer: a
- Assertion (A) : Compared to the individual supply curve, the aggregate supply curve is more elastic.
- Reason (R) : There is the possibility of moving between being out of the labour force and being in the labour force.
- Choose amongst the following the correct answer. Codes:
- A is correct, but R is not the correct explanation of (A) .
- A is correct and R is the correct explanation of (A) .
- A is correct, but R is incorrect.
- A is incorrect, but R is correct.
- Answer: b
- Assuming life cycle hypothesis, let a person starts working when he is 20 years old, works until the age of 60 and expects to die at the age of 70. If this person earns, say ₹ 1.50 lac annually when he is 20 − 30 years, ₹ 2 lac annually when he is 30 − 45 years, and ₹ 3 lac annually when he is 40 − 60 years, then his life time average propensity to consume is
- 0.60
- 0.70
- 0.80
- 0.90
- Answer: c
- With reference to demand for money, match List-I with List-II:
Table Supporting: NTA NET NTA UGC NET Previous Years Papers December-2013 Solved Paper II List-I List-II - Demand for money is stable
- Liquidity Preference as behaviour towards risk
- Inventory Theoretic Approach
- No portfolio diversification
- JM Keynes
- W Baumol
- James Tobin
- Milton Friedman
- A
- B
- C
- D
- 4
- 3
- 1
- 2
- 3
- 4
- 1
- 2
- 2
- 1
- 3
- 4
- 4
- 3
- 2
- 1
- Answer: d
- The negative relationship between the gap between actual GDP and its trend value and the difference between actual unemployment rate and its equilibrium value is called
- The Aggregate Supply Curve
- The Phillips Curve
- The Natural Rate of Unemployment Hypothesis
- Okun՚s Law
- Answer: d
- It is often true that as the economy begins to recover from a recession, the unemployment rate rises because
- as the economy initially recovers from a recession the demand for goods and services falls, so the demand for workers falls.
- as the economy begins to recover from a recession, workers who were prevously discouraged about their chances of finding a job begin to look for work again.
- as the economy begins to recover from a recession because of the errors in the way the data are collected.
- as the economy initially recovers from a recession, firms do not immediately increase the number of workers they hire. Firms wait to hire more individuals until they are convinced that the recovery is strong.
- Answer: b
- When additional government expenditure is financed by selling government securities, then what will be the nature of crowding out effect, given in List-I in the context of the situation given in List-II?
Table Supporting: NTA NET NTA UGC NET Previous Years Papers December-2013 Solved Paper II List-I (Crowding out effect) List-II (Situation) - Full
- Partial
- Nil
- Keynesian Range
- Classical Range
- Intermediate Range
- A
- B
- C
- 2
- 3
- 1
- 3
- 1
- 2
- 1
- 3
- 2
- 1
- 2
- 3
- Answer: a
- Match items given in List-I with those in List-II:
Table Supporting: NTA NET NTA UGC NET Previous Years Papers December-2013 Solved Paper II List-I List-II - Equation of Exchange
- Cash Balances Approach
- Regressive Expectation model of Demand for Money
- Square Root Formula of Demand for Money
- JM Keynes
- Irving Fisher
- WJ Baumol
- AC Pigou and Alfred Marshall
- A
- B
- C
- D
- 2
- 4
- 1
- 3
- 3
- 2
- 4
- 1
- 4
- 3
- 1
- 2
- 1
- 3
- 2
- 4
- Answer: a
- The premise, that benefit of economic growth will reach all sections of population is called
- Trickle up effect
- Trickle down effect
- Take-off effect
- Backlash effect
- Answer: b
- In whose growth model, entrepreneur՚s significance is pivotal?
- Keynes
- Schumpeter
- Harrod
- Domar
- Answer: b
- The classical model of economic development emphasises
- Laissez-Faire Policy
- Capital Accumulation
- Both A and (B)
- None of these
- Answer: c
- Which one of the following pairs (Author Book) is not correctly matched?
- Match Item 1: Simon Kuznets
- Match Item 2: Asian Drama
- Match Item 1: J. Robinson
- Match Item 2: Essays in the Theory of Economic Growth
- Match Item 1: Karl Marx
- Match Item 2: Das Kapital
- Match Item 1: A. W. Lewis
- Match Item 2: Theory of Economic Growth
- Answer: a
- What does change in economic growth?
- Structure of economy
- Mindsets of people
- National Income
- None of these
- Answer: c
- Which States⟋U. Ts. Have been placed at first three places in Gender Development Index List 2006 made by the Government of India?
- Kerala, Chandigarh, Goa
- Kerala, Goa, Chandigarh
- Chandigarh, Goa, Kerala
- Goa, Kerala, Chandigarh
- Answer: a
- Assertion (A) : There is no incentive for a profit maximizing producer to supply the public goods.
- Reason (R) : If he produces it he is unable to exclude people from consuming it and hence he cannot charge a price.
- A is true, but R is false.
- Both A and R are false.
- A is not correct, but R is correct
- Both A and R are correct and R is the correct explanation of (A) .
- Answer: d
- The distribution of the burden of paying a tax is called
- Sharing of tax burden
- Shifting of the tax
- Incidence of a tax
- Tax capitalization
- Answer: c
- Which one of the following is short period debt meant to meet current needs, that is filling temporary gap in budgets?
- Funded debt
- Unfunded debt
- Redeemable debt
- Irredeemable debt
- Answer: b
- Monetised deficit means
- Fiscal deficit less interest payments
- Government expenditure which is financed through the sale of adhoc treasury bills.
- Increase in RBI credit to Central Government.
- Fiscal deficit less loans and advances.
- Answer: c
- A proportionate increase in tax revenue to a proportionate increase in the tax base is called
- Elasticity of a tax
- Buoyancy of a tax
- Neutrality of a tax
- None of the above
- Answer: b
- ‘Vent for surplus approach’ is applicable to
- Rich countries
- Underdeveloped countries
- Oil exporting countries
- None of the above
- Answer: b
- According to monetary approach, a revaluation of a nation՚s currency
- increases the nation՚s demand for money.
- increases the nation՚s supply of money
- reduces the nation՚s demand for money
- reduces the nation՚s supply of money
- Answer: c
- The Bretton Woods System was based on
- a gold standard
- a flexble exchange rate system
- a gold exchange standard
- none of the above
- Answer: c
- The imposition of an import tariff by a large nation
- usually improves the nation՚s terms of trade and increases the volume of trade.
- worsens the nation՚s terms of trade but increases the volume of trade
- worsens the nation՚s terms of trade and reduces the volume of trade.
- usually improves the nation՚s terms of trade but reduces the volume of trade.
- Answer: d
- The value of foreign trade multiplier will be high under the condition when
- marginal propensity to save is high
- marginal propensity to import is high
- there is increase in exports
- marginal propensity to consume domestic goods is high
- Answer: c
- Match the weight of different industry groups between List-I & List-II:
Table Supporting: NTA NET NTA UGC NET Previous Years Papers December-2013 Solved Paper II List-I List-II - Basic goods industries
- Capital goods industries
- Intermediate goods industries
- Consumer goods industries
- 45.7
- 8.8
- 15.7
- 29.8
- A
- B
- C
- D
- 1
- 2
- 3
- 4
- 2
- 4
- 3
- 1
- 3
- 2
- 1
- 4
- 1
- 3
- 4
- 2
- Answer: a
- Plant load factor of thermal power stations in India in recent years has been around
- 50 percent
- 60 percent
- 70 percent
- 80 percent
- Answer: c
- Which of the following is not the part of National Telecom Policy (NTP) 2012 in India?
- Strive to create One-Nation-One License across services and service areas.
- Achieve One Nation – Full Mobile number portability
- To work towards ‘Right to Broadband’
- Recognize telecom as basic goods industry
- Answer: d
- Percentage share of the manufacturing output of India in the world total is now
- 2.2 percent
- 3.9 percent
- 6.2 percent
- 7.5 percent
- Answer: a
- India՚s current account deficit in Balance of Trade is mainly due to
- Increasing imports of oil and petroleum
- Increasing imports of gold and silver
- Increasing imports of food grains
- Increasing imports of iron and steel
- Codes:
- 1,2 and 3
- 1 and 3
- 1 and 2
- 1 and 4
- Answer: c
- The MRTP Act of 1969 has been
- replaced by Competition Act 2002
- merged in Industrial Policy Act of 1978
- replaced by Trade Union (Amendment) Act 2001
- merged in Industrial Policy Act of 1991
- Answer: a
- In the context of agricultural development the trickle down theory has been interpreted to suggest that
- Growth in agriculture output without radical institutional reforms will reduce the incidence of poverty.
- Growth in agriculture output with radical institutional reforms will reduce the incidence of poverty
- Only radical institutional reforms can reduce the incidence of poverty.
- Only growth in agriculture output will reduce incidence of poverty.
- Both a and b
- Both a and c
- b only
- d only
- Answer: c
- As per the latest figures of the Ministry of Agriculture the per capita per day foodgrains availability is
- 280 gm
- 440 gm
- 580 gm
- 900 gm
- Answer: a
- In which year the Kissan Credit Card System was introduced?
- 1978
- 1998
- 1988
- 2008
- Answer: b
- Assertion (A) : PL-480 grants was used to import foodgrains.
- Reason (R) : PL-480 grants facility was granted by Japan.
- Both A and R are true and R is the correct explanation of (A) .
- Both A and R are true and R is not the correct explanation of (A) .
- A is true, but R is false.
- A is false, but R is true.
- Answer: b
- Productivity of groundnut is highest in
- U. S. A.
- Mexico
- India
- China
- Answer: a
- NAFED is a
- Company
- Non-Government Organisation
- Government Body
- Cooperative Organisation
- Answer: d
- Based on the SRS data for 2010 in India, which of the following seems to be incorrect?
- TFR = 2.5
- CDR = 7.2
- IMR = 48.9
- CBR = 24.2
- Answer: d
- Upto which census, synchronous de facto method was adopted in India wherein the census was conducted throughout the country in a single night?
- 1901
- 1931
- 1951
- 1971
- Answer: b
- Match the following:
Table Supporting: NTA NET NTA UGC NET Previous Years Papers December-2013 Solved Paper II List-I List-II - Type II error
- Mean > Mode
- Population is homogenous
- Time Reversal Test
- P01 × P10 =
- Probability of not rejecting H0 when it was not true
- Positively skewed distribution
- Simple random sampling
- A
- B
- C
- D
- 2
- 3
- 4
- 1
- 3
- 1
- 2
- 4
- 4
- 2
- 3
- 1
- 1
- 2
- 3
- 4
- Answer: a
- Assertion (A) : For normal distribution Mean = Median = Mode.
- Reason (R) : Normal distribution is mesokurtic.
- Both A and R are correct and R is the correct explanation of (A) .
- Both A and R are correct but R is not the correct explanation of (A) .
- A is correct, but R is incorrect.
- A is incorrect, but R is correct.
- Answer: b
- Given the two regression lines estimated from given data as under: Y = 4 + 0.4X X = – 2 + 0.9Y Then coefficient of correlation between X and Y will be
- 0.4
- 0.5
- 0.6
- 0.8
- Answer: c
- Which of the following satisfy time reversal test but not factor reversal test?
- Laspeyre՚s Index No.
- Fisher՚s Index No.
- Paasche՚s Index No.
- Marshall-Edgeworth Index No.
- Answer: d
- The value of χ2 in a 3 × 5 contingency table is computed as 8.0. The Null hypothesis of no association will be tested at 5% level of significance, if this value is less than or equal to the value of χ2 from the table at degrees of freedom:
- 8
- 6
- 4
- 3
- Answer: a
- Which is a non-probability based sampling method?
- Systematic Sampling
- Stratified Random Sampling
- Quota Sampling
- Simple Random Sampling
- The cost incurred by the firm in hiring labour is called as
- Answer: c