UGC NET Economics Previous Questions -June 2014 - Part 2
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(1) Identify the method not being used for unemployment estimation by the NSSO in India.
A) Current monthly status
B) Current daily status
C) Current weekly status
D) Usual principal and subsidiary status
Ans) A
(2) The process of budget making after re-evaluating every item of expenditure in every financial year is known as -
A) Performance Budgeting
B) Fresh Budgeting
C) Debit Budgeting
D) Zero Based Budgeting
Ans) D
(3) A difference in relative commodity prices between two nations can be based upon a difference in -
A) Factor endowment
B) Technology
C) Tastes
D) All of the above
Ans) D
(4) Which type of trade is not explained by the Heckshor-Ohlin Model?
A) Trade based on economies of scale
B) Intra industry trade
C) Trade based on imitation gaps and product cycles
D) All of the above
Ans) D
(5) A deficit or surplus in the India's balance of payments is measured by the net balance of -
A) The current account
B) The capital account
C) Allocation of SDRs and the statistical discrepancy
D) All of the above
Ans) D
(6) If the demand of the domestic consumers is infinitely elastic and the supply of the foreign producer is perfectly inelastic, then the whole of the tariff will -
A) be paid by the domestic consumers
B) be paid by the foreign producer
C) be equally shared by the domestic consumers and the foreign producer
D) yield neither revenue nor protection to either of them
Ans) B
(7) The RBI made Indian Rupee fully convertible in current account transactions related to goods and services in the year -
A) 1985
B) 2002
C) 1994
D) 2011
Ans) C
(8) According to the monetary approach, a revaluation of a nation's currency -
A) increases the nation's demand for money
B) increases the nation's supply of money
C) reduces the nation's demand for money
D) reduces the nation's supply of money
Ans) C
(9) In which of the following, Zero Based Budgeting is difficult to introduce?
I) Establishment charges II) Public works III) Irrigation projects IV) Federal fiscal transfers
A) I, III and IV are correct.
B) II, III and IV are correct.
C) I and IV are correct.
D) II and III are correct.
Ans) C
(10) Match the items given in the List-I with those in List-II :
List-I
a) Theory of clubs b) Impossibility theorem c) Political of decision making model d) Optimum provision of local public goods
List-II
1) Anthony Downs 2) Charles Tiebout 3) James Buchanan 4) Kenneth Arrow
Codes :
a b c d
A) 3 1 2 4
B) 3 4 2 1
C) 2 3 4 1
D) 3 4 1 2
(11) Which of the following tax is within the jurisdiction of Union or Central Government as enumerated in List-I of Schedule VII of the Indian Constitution?
A) Taxes on the consumption and sale of electricity.
B) Taxes on goods and passengers carried by road.
C) Taxes on luxuries, including entertainments.
D) Taxes on Sales and purchase of newspapers and on advertisement therein.
Ans) D
(12) A tax imposed on a commodity according to it's weight, size or measurement is called -
A) Advalorem tax
B) Specific tax
C) Single tax
D) Double taxation
Ans) B
(13) Which of the following is Musgrave's views on incident of taxation?
A) Settlement of tax on ultimate tax payer.
B) Formal and effective incidence of taxation.
C) Changes in the distribution of income for private use arising from changes in budget policy.
D) The final direct money burden of tax.
Ans) C
(14) Given arithmetic mean = 45, mode = 48, then median =
A) 46
B) 45
C) 48
D) 49
Ans) A
(15) The analysis of variance is carried out by using -
A) t-test
B) Z-test
C) Chi-square test
D) F-test
Ans) D
(16) Systematic sampling implies that the first item is selected randomly and -
A) the other items are selected by lottery method
B) the other items are selected by purposively
C) then every K-th item is selected
D) the other items are selected at the will of the investigator
Ans) C
(17) Which of the following are the basic assumptions of cardinal utility analysis?
I) Utility is a measurable and quantifiable entity.
II) Marginal utility of money changes with changes in real income.
III) Utilities derived from various goods are inter-dependent.
IV) The use of introspective method in judging the behaviour of marginal utility.
Codes :
A) I and II are correct.
B) I and III are correct.
C) I and IV are correct.
D) I, III and IV are correct.
Ans) C
(18) Engel curve denotes -
A) various amounts of a good which a consumer would be willing to purchase at various price levels.
B) various amounts of a good which a consumer would be willing to purchase at various income levels.
C) various amounts of a good purchased when the price of its substitutes tend to rise.
D) the relationship between income effect and substitution effect.
Ans) B
(19) A producer is said to be operating with excess capacity -
A) When he produces an output greater than that given by the minimum Average Total Cost.
B) When he produces an output greater than at given by the maximum Average Total Cost.
C) When he produces an output equal to that given by the minimum Average Total Cost.
D) When he produces an output smaller than that given by the minimum Average Total Cost.
Ans) D
(20) Assertion (A) : Harvey Leibenstein asserted that marginal conditions required for economic efficiency are not usually satisfied in practice.
Reason (R) : People are not fully motivated towards maximization or minimization.
Codes:
A) Both (A) and (R) are correct and (R) is the correct explanation of (A).
B) (A) is correct, but (R) is not correct.
C) Both (A) and (R) are correct, but (R) is incorrect explanation of (A).
D) (R) is correct, but (A) is incorrect.
Ans) A
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