Economics (UGC/NET Paper II & III)

Economics Test 9

25 Questions Published

Questions

Question 1 Multiple Choice (Single Answer)

When government expenditure exceeds total government receipts, the budget deficit is:

  1. positive
  2. negative
  3. zero
  4. indeterminate
Question 2 Multiple Choice (Single Answer)

In Harrod -Domar model, if the growth rate of income is 5% and capital-output ratio is 3, then saving rate must be

  1. 5%
  2. 3%
  3. 8%
  4. 15%
Question 3 Multiple Choice (Single Answer)

Assertion (A) : Sen's P-measure is preferred both of Head Count ratio and the poverty gap ratio.
Reason (R) Sen won the 'Nobel prize'.

  1. Both (A) and (R) are true and (R) is the correct explanation
  2. Both (A) and (R) are true, but (R) is not the correct explanation of (A)
  3. (A) is false, but (R) is true
  4. Both (A) and (R) are false
Question 4 Multiple Choice (Single Answer)

Arrange the option having the right chronological order.
(i) Introduction of Rolling Plan
(ii) The movement from Planning to Market mechanism
(iii) Feldman-Mahalanobis Model
(iv) Declaration of Plan holiday

  1. (i) (iii) (iv) (ii)
  2. (ii) (iv) (i) (iii)
  3. (iii) (iv) (i) (ii)
  4. (i) (iii) (ii) (iv)
Question 5 Multiple Choice (Single Answer)

The overall production of food grains in India in 2006 - 07 was

  1. 207.3 million tonnes
  2. 217.3 million tonnes
  3. 270.8 million tonnes
  4. 227.8 million tonnes
Question 6 Multiple Choice (Single Answer)

Assertion (A) : According o Milton Friedman, the slope of the long-run Phillips curve is vertical.
Reason (R) : The expectations about future inflation are the basic cause of the non-existence of the trade-off between inflation and unemployment in the long-run.

  1. Both (A) and (K) are true and (R) is not the correct reason of (A)
  2. Both (A) and (R) are true, but (R) is the correct reason of (A)
  3. Both (A) and (R) are false
  4. (A) is true, but (R) is false
Question 7 Multiple Choice (Single Answer)

Second Five Year plan was based on a model developed by:

  1. C. H Hanumantha Rao
  2. P.C. Mahalanobis
  3. A.K. Sen
  4. K.N. Raj
Question 8 Multiple Choice (Single Answer)

New Economic Policy in India was introduced in:

  1. 1981
  2. 1971
  3. 1991
  4. 2001
Question 9 Multiple Choice (Single Answer)

Mode of production refers to:

  1. Forces of production
  2. Methods of production
  3. Relations of production
  4. The duality of Forces of Production and Relations of Production
Question 10 Multiple Choice (Single Answer)

Starting with the earliest. arrange the following schemes chronologically:
(I) Prime Minister's Rozgar Yojana
(ii) Rural Employment Generation Programme
(iii) Sampoorna Grameena Rozgar Yojana
(iv) National Food for Work Programme

  1. (i) (ii) (iii) (iv)
  2. (iv) (ii) (iii) (i)
  3. (iii) (iv) (ii) (i)
  4. (i) (iii) (ii) (iv)
Question 11 Multiple Choice (Single Answer)

Assertion (A) : Coefficient of Concurrent Deviations is calculated between the direction of deviations and not their magnitudes.
Reason (R) : If it is desired to study the correlation between two series in a very casual manner.

  1. (A) is false, but (R) is true
  2. (A) is true, but (R) is false
  3. Both (A) and (R) are true, but (R) is not the correct explanation.
  4. Both (A) and (R) are true and (R) is the correct explanation.
Question 12 Multiple Choice (Single Answer)

Pareto Optimality can take place at any point on:

  1. Laffer Curve
  2. Engel Curve
  3. Contract Curve
  4. Lorenz Curve
Question 13 Multiple Choice (Single Answer)

According to Economic Survey 2007-2008, lndia's exports as per cent of GDP in 2006 -2007 stood at:

  1. 11.0
  2. 14.0
  3. 16.0
  4. 19.0
Question 14 Multiple Choice (Single Answer)

The Deficit Budget in which the deficits are covered through taxes is called

  1. Balanced Budget
  2. Unbalanced Budget
  3. Surplus Budget
  4. Zero-base Budget
Question 15 Multiple Choice (Single Answer)

Domestic Savings Rate during the IX period was

  1. 23.31%
  2. 30.31%
  3. 25.3l
  4. None of these
Question 16 Multiple Choice (Single Answer)

Assertion (A) : According to Hicks, trade cycle occurs due to the interaction between multiplier, and accelerator.
Reason (R) In Hicksian business cycle theory, accelerator is impotent in the depression phase.

  1. Both (A) and (R) are true and (R) is the correct explanation of (A)
  2. Both (A) and (R) are true, but (R) is not the correct explanation of (A)
  3. 130th (A) and (R) are false
  4. (A) is true, but (R) is false
Question 17 Multiple Choice (Single Answer)

Arrange the option having the right chronological order.
(i) Specific Target-group Oriented Programmes
(ii) Introduction of Family Planning
(iii) Direct Anti-poverty Programmes
(iv) Minimum Needs Programme

  1. (ii) (i) (iv) (iii)
  2. (i) (iii) (ii) (iv)
  3. (iv) (iii) (i) (ii)
  4. (iii) (ii) (iv) (i)
Question 18 Multiple Choice (Single Answer)

Starting with the earliest, arrange the following authors chronologically in the context of development of theory of Oligopoly:
(i) E. Stackelberg
(ii) P. Sweezy
(iii) 1. Bertrand
(iv) A. Cournot

  1. (ii) (i) (iii) (iv)
  2. (iv) (iii) (ii) (i)
  3. (i) (ii) (iv) (iii)
  4. (iii) (iv) (i) (ii)
Question 19 Multiple Choice (Single Answer)

Assertion (A) : As per the recent Indian experience, a fall in the of employment generation is associated with a fall in the rate of economic growth.
Reason (R) : Working of the Okun's law.

  1. Both (A) and (R) are true and (R) is the correct explanation of (A).
  2. Both (A) and (R) are true but (R) is not the correct explanation of (A).
  3. (A) is true but (R) is false.
  4. (A) is false but (R) is true.
Question 20 Multiple Choice (Single Answer)

Assertion (A) : Giffen goods have a positively sloped demand curse.
Reason (R) : The positive substitution effect in their case is more than offset by negative income effect.

  1. Both (A) and (R) are true and (R) is the correct explanation of (A)
  2. (A) is true. but (R) is false
  3. Both (A) and (R) are false
  4. Both (A) and (R) are true. but (R) is not the correct explanation of (A)
Question 21 Multiple Choice (Single Answer)

On Current Daily Status (CDS) basis, the incidence of unemployment in India in 2004 - 05 was

  1. 4.52%
  2. 6.43%
  3. 8.28%
  4. 10.12%
Question 22 Multiple Choice (Single Answer)

The doctrine of unbalanced growth has not been advocated by

  1. H. W. Singer
  2. W. A. Lewis
  3. A. O Hirschman
  4. C.P. Kndleberger
Question 23 Multiple Choice (Single Answer)

Public Enterprises in India have developed only in

  1. Consumer goods industries
  2. Key and basic industries
  3. Service industries
  4. All types of industries
Question 24 Multiple Choice (Single Answer)

Match the following

List - I List - II
1. Principle of absolute advantage (i) Rybezynski
2. Effects of factor endowment changes on trade (ii) Samuelson
3. Theory of reciprocal demand (iii) Adam Smith
4. Factor price equalisation theorem (iv) J.S. Mill
  1. 1 - (iii), 2 - (ii), 3 - (iv), 4 - (i)
  2. 1 - (iv), 2 - (ii), 3 - (i), 4 - (iii)
  3. 1 - (iii), 2 - (i), 3 - (iv), 4 - (ii)
  4. 1 - (iii), 2 - (iv), 3 - (ii), 4 - (i)
Question 25 Multiple Choice (Single Answer)

Match the following

 
List-I
|        <b>List-Il</b>
|

| 1. Revealed Preference hypothesis
| (i) A. Bergson
|
| 2. Quasi rent
| (ii) B.S. Minhas
|
| 3. Elasticity of substitution
| (iii) A. Marshall
|
| 4. Social welfare function
| (iv) P.A. Samuelson
|

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