NTA UGC NET/JRF Exam, (Cancelled) June-2024 Economics

Total Questions: 100

21. In the context of monetary policy in open economy, the concept of trilemma involves which of the following?

A. Flexible interest rate
B. Perfect capital mobility
C. Fixed exchange rate
D. Independent fiscal policy
E. Independent monetary policy
Choose the correct answer from the options given below:

Correct Answer: (d) B, C and E only
Solution:The Policy trilemma.
(1) Free Capital Mobility
(2) Monetary autonomy
(3) Exchange rate management.

22. Arrange the following states based on the percentages of the total population who are multidimensionally poor as per NFHS-5 (2019- 21) in MDI: Progress review, Niti Aayog, 2023:

A. Odisha
B. U.P.
C. Chhattishgarh
D. Nagaland
E. Rajasthan
Choose the correct answer from the options given below:

Correct Answer: (b) E, D, A, C, B
Solution:

Percentage of the total population who are multidimensionally poor as per NFHS-5 (2019-21) in MDI.

StateMPI (%)
1. Rajasthan15.31
2. Nagaland15.43
3. Odisha15.68
4. Chhattisgarh16.37
5. U.P.22.93

23. Based on the Global HDI 2021, What is the mean years of schooling (years) in India?

Correct Answer: (a) 6.7
Solution:

Based on the global HDI 2021, 6.7 is the mean years of schooling (years) in India.

24. Match List-I with List-II.

List-I (School/Group)List-II (Money Supply View)
A. MonetarismI. Upward sloping money supply curve in interest rate space
B. AccommodationistsII. Exogenous money supply
C. StructuralistsIII. Horizontal money supply curve in interest rate space
D. Post-Keynesian SchoolIV. Money is demand determined

Choose the correct answer from the options given below:

Correct Answer: (b) A-II, B-III, C-I, D-IV
Solution:The correct match is as follows
List-I (School/Group)List-II (Money Supply View)
A. MonetarismII. Exogenous money supply
B. AccommodationistsIII. Horizontal money supply curve in interest rate space
C. StructuralistsI. Upward sloping money supply curve in interest rate space
D. Post-Keynesian SchoolIV. Money is demand determined

25. What is the unemployment rate in Urban India in the year 2020-21 as per usual status as reported in Economic survey, 2022-23?

Correct Answer: (c) 6.7%
Solution:

6.7% is the unemployment rate in Urban India in the year 2020-21 as per usual status as reported in Economic survey, 2022. As per the latest available Annual PLFs Reports the estimated Unemployment Rate (UR) on usual status for youth of age 15-29 years was 12.9%, 12.4% and 10.0% during 2020-21, 2021-22 and 2022-23, respectively.

26. The reaction pattern in the oligopoly market is determined by which of the following formula?

Correct Answer: (a)
Solution:

Based on the analysis, the most straight forward and intuitive formula for determining the reaction pattern in the oligopoly market is

27. Match List-I with List-II

List-I: StatesList-II: Infant mortality rate (per thousand) in 2020
A. AssamI. 36
B. BiharII. 28
C. HaryanaIII. 27
D. Uttar PradeshIV. 38
Correct Answer: (b) A-I, B-III, C-II, D-IV
Solution:

In 2020, the infant mortality rate in the state of Assam, Bihar, Haryana and Uttar Pradesh in India was 36, 27, 28 and 38 deaths per 1000 live births respectively. Infant mortality is measured by the number of deaths of children under one year of age per 1000 live births.

28. Which of the following is/are true pertaining to the marginal rate of substitution (MRS) of two goods.

A. MRS is the rate at which consumer substitutes one good for the other.
B. MRS falls as we move down the indifference curve from
C. An indifference curve is convex, if the MRS increases along the curve. left to right.
D. If MRS along the IC remains constant, then the IC is a straight line.
E. If MRS for two goods is zero or infinite, ICs are shaped as right angles.
Choose the most appropriate answer from the options given below:

Correct Answer: (d) A. B, D and E only
Solution:

Statement A. B, D and E are true pertaining to the marginal rate of substitution of two goods.

(A) MRS is the rate at which consumer substitutes one good for the other.
(B) MRS falls as we move down the indifference curve from left to right.
(D) If MRS along the IC remains constant, then the IC is a straight line.
(E) If MRS for two goods is zero or infinite, ICs are shaped as right angles.

29. Which of the following are true about Rybczynski theorem?

A. It is related to factor growth and trade
B. It contradicts the factor endowment trade theory
C. It holds when both the goods are normal goods
D. It assumes constant prices
E. It assumes constant factor ratio
Choose the most appropriate answer from the options given below:

Correct Answer: (d) A, D and E only
Solution:

Rybczunski theorem :- Effect of factor endowment changes on trade (1955). AG 1-mpc 1-0.75 An increase in a country's endowment of a factor will cause an increase in output of the good which uses that factor intensively and decrease in the output of other goods.
Abundant factor is exportable, scarce factor is importable.
Statement A, D and E is correct.

30. Which of the following are true in case of the measures of dispersion and central tendency?

A. Algebraic sum of deviations from mean is minimum
B. Mean deviation is least when calculated from median
C. Variance is always non-negative
D. Mean, standard deviation and coefficient of variation have same units
E. Relative measures of dispersion are independent of units of measurement.
Choose the correct answer from the options given below:

Correct Answer: (c) B, C, D and E only
Solution:

True cases of the measure of dispersion and central tendency -
Mean deviation is least when calculated from median.
Variance is always non-negative.
Relative measures of dispersion are independent of units of measurement.