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Economics (UGC/NET Paper II & III)

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Arrange the option having the right chronological order. (I) Peacock-Wiseman hypothesis (ii) Buchanan's 'An Economic Theory of Clubs' (iii) Wagner hypothesis (iv) Findaly Shirras's canons of public expenditure

  1. (i) (iii) (ii) (iv)

  2. (iii) (i) (iv) (ii)

  3. (ii) (iv) (iii) (i)

  4. (iii) (iv) (i) (ii)


Correct Option: D

The difference between the export and import of services is called

  1. Balance of Trade

  2. Balance of Invisibles

  3. Balance of Current account

  4. Balance of Capital account


Correct Option: B

The most comprehensive measure of the aggregate price level is the

  1. consumer price index

  2. producer price index

  3. GNP deflator

  4. wholesale price index


Correct Option: D

A temporary increase in marginal tax rate will:

  1. increase employment

  2. increase output

  3. raise the deficit

  4. lower output


Correct Option: D

Borrowings from foreigner's arc known as:

  1. Export of goods

  2. Unrequited receipts

  3. Capital receipts

  4. Current receipts


Correct Option: C

Chairman of the Finance Commission (i) N.K.P. Salve (ii) C. Rangarajan (iii) P.V. Rajmannar (iv) K.C. Niyogi

  1. (i) (iv) (iii) (ii)

  2. (iv) (iii) (i) (ii)

  3. (iv) (i) (ii) (iii)

  4. (iii) (i) (iv) (ii)


Correct Option: B

In the Sweezy model of Oligopoly, an increase in demand will make upper portion of the demand curve:

  1. More elastic

  2. Less elastic

  3. Unitary elastic

  4. None of these


Correct Option: B

Union Excise Duties are a part of Central Government's;

  1. Non-tax Revenue

  2. Tax revenue

  3. Capital receipts

  4. None of these


Correct Option: B

In the year 2000 - 2001 External Debt GDP ratio in India was:

  1. 15.3%

  2. 9.1%

  3. 7.1%

  4. 5.4%


Correct Option: A

Assertion (A) : Neo - classical models of growth predict steady state growth. Reason (R) Saving investment equality is assumed.

  1. Both (A) and (R) are true and (R) is the correct reason

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

  3. Both (A) and (R) arc true, but (R) is not the correct reason

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


Correct Option: A

Keynesian economics lays more emphasis on

  1. monetary policy

  2. fiscal policy

  3. interest-rate determination

  4. free market mechanism


Correct Option: A

Shift in LM curve takes place due to

  1. Increase in autonomous Investment

  2. Increase in money supply

  3. Increase in consumption

  4. Increase in saving rate


Correct Option: B

Implicit GDP deflator is a:

  1. current year weighted index

  2. base year weighted index

  3. arithmetic mean of A.and B.

  4. geometric mean of A. and B


Correct Option: B

Knife - Edge Problem arises in:

  1. Solow Model

  2. Kaldor Model

  3. Joan Robinson Model

  4. Harrod - Domar Model


Correct Option: D

From April 1999. Jawahar Rojgar Yojana has been renamed as:

  1. Jawahar Gram Samriddhi Yojana

  2. Jawahar Swarna Jayanthi Yojana

  3. Jawahar Samriddhi Yojana

  4. Jawahar Rural Development Yojana


Correct Option: A

Keynes' prescription to fight global depression was that:

  1. The government should pursue active monetary policy

  2. The government should pursue a combination of fiscal policy and monetary policy

  3. The government should pursue a combination of fiscal policy and monetary policy is in effective

  4. The government should have a policy of balanced budget


Correct Option: C

Assertion (A) : Jharkhand, Chattisgarh, Orissa are poverty ridden states of India. Reason (R) : These states are rich in mineral resources.

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

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

  3. Both (A) and (R) are true but (R) is not the correct explanation

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


Correct Option: C

Natural rate of unemployment is the rate of unemployment at which:

  1. Rate of inflation is stable

  2. Rate of inflation is unstable

  3. Rate of inflation is falling

  4. Rate of inflation is rising


Correct Option: A

According to Planning Commission estimates of poverty ratio in India in (1999-2000) was:

  1. 30 percent

  2. 40 percent

  3. 26.9 percent

  4. 28.9 percent


Correct Option: C

Match the following

 
List-I
List-Il
1. PhysicaL Quality of Life Index
(i) W.W. Rostow
2. Organic Composition of Capital
(ii) RF. Harrod
3. Warranted rate of growth
(iii) Morris D. Morris
4. Stages of growth theory
(iv) Karl Marx
  1. 1-(iv), 2-(iii), 3-(i), 4-(ii)

  2. 1-(iii), 2-(i), 3-(ii), 4-(iii)

  3. 1-(ii), 2-(iii), 3-(ii), 4-(i)

  4. 1-(ii), 2-(iii), 3-(i), 4-(iv)


Correct Option: D

Under simple random sampling, as the size sample is increased:

  1. systematic errors Increase but sampling errors decrease

  2. systematic errors decrease but sampling errors increase

  3. both systematic and sampling errors decrease

  4. both Systematic and sampling errors increase


Correct Option: A

When interest elasticity of demand for money is zero the L - M curve is

  1. Vertical Parallel to Y-axis

  2. Horizontal Parallel to X-axis

  3. Positive Sloping straight line

  4. Negative Sloping straight line


Correct Option: A

Match the following

 
Group - I
Group - II
1. Wealth of Nations
(i) David Ricardo
2. Treatise on Money
(ii) Jagdish Bhagwati
3. In defence of globalization
(iii) Adam Smith
4. Principles of Political
(iv) Keynes Economy and Taxation
  1. 1-(iii), 2-(iv), 3-(ii), 4-(i)

  2. 1-(i), 2-(ii), 3-(iii), 4-(iv)

  3. 1-(iv), 2-(iii), 3-(ii), 4-(i)

  4. 1-(ii), 2-(i), 3-(iv), 4-(iii)


Correct Option: A

Match the following

 
List-I
List-Il
1. Limit pricing theory
(i) E.H. Chamberlin
2. Selling Costs
(ii) Robin Marris
3. Sales maximisation model
(iii) J.S. Bain
4. Growth maximising model of the firm
(iv) William Baumol
  1. 1-(iii), 2-(i), 3-(iv), 4-(ii)

  2. 1-(ii), 2-(iv), 3-(i), 4-(iii)

  3. 1-(ii), 2-(i), 3-(iv), 4-(iii)

  4. 1-(iii), 2-(ii), 3-(iv), 4-(i)


Correct Option: A

Which of the following is generally referred to as a “broader measure of money supply“?

  1. M1

  2. M2

  3. M3

  4. M4


Correct Option: C
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