UGC NET/SET ECONOMICS Model Qns -Set 4

1) A method of controlling exchange rates where they are fixed at a certain rate but then allowed to move up or down by small amount repeatedly - Crawling peg exchange rate system

2) A system in which exchange rates are fixed in the short term but are occasionally chabged in response to persistent payment imbalances - Adjustable peg system

3) A system where a group of currencies pegged to each other and jointly float against other currencies - Joint float system

4) The Minimum Wages Act in India enacted in the year - 1948

5) The liquidity aggregates are classified as - L1, L2, & L3

6) When Rupee is fully convertible into another currency for current account transactions and vice versa - Current account convertibility

7) When Rupee is fully convertible into another currency for capital account transactions and vice versa - Capital account convertibility

8) The ease with which a country's currency can be converted into gold or another currency - Convertibility

9) Full form of 'UBI' - Universal Basic Income

10) A kind of inferior goods which the consumer spends a large part of his income and demand falls with a fall in their price - Giffen Goods