UGC NET ECONOMICS MODEL QUESTIONS-Set 12

1) A general production function where in elasticity of factor substitution can take any positive or constant value - CES Production function

2) Sustainable use of ocean resources for economic growth, improved livelihood, and jobs while preserving the health of ocean eco-system - Blue economy

3) A production function which the factors are used in fixed ratio - Fixed proportions production function

4) Headquarters of Insolvency and Bankruptcy Board of India - New Delhi

5) The minimum reward required to keep factors of production, such as labour in its current occupation - Transfer earnings

6) An increase in expected inflation causes nominal interest rates to increase - Fisher effect

7) The unemployment rate that exists when GDP and Growth rates are stable - Natural rate of unemployment

8) The interest rate that exists when prices are stable - Natural rate of interest

9) Guaranteeing minimum money income in universal manner despites of their employment/income/education - Universal Basic Income

10) Concept of 'Rolling Plan' firstly suggested by - Gunnar Myrdal