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

Total Questions: 100

61. In a two-sector economy, autonomous consumption expenditure Cₒ = 50 million, autonomous investment expenditure, Iₒ = ₹ 100 million and b = 0.5. Determine the equilibrium level of consumption, Cₑ, where b = MPC.

Correct Answer: (a) ₹200 million
Solution:


Hence, the equilibrium level of consumption is 200 million.

62. Two factors of production, say A and B have the same price. The least cost combination of A and B for producing a given level of output will be achieved at a point where the Isoquant has a slope of:

Correct Answer: (c) -1
Solution:

63. The classical proportional relation between money and price will hold in which of the following cases:

A. Rigidity of nominal variables
B. Perfectly inelastic AS curve
C. Rigidity of real variable
D. Positive relationship between money supply and production
E. Long-run Analysis
Choose the correct answer from the options given below:

Correct Answer: (e) (*)
Solution:

Classical proportional relation between money and price will hold in -
Perfectly Elastic AS Curve.
Rigidity of real variable.
Long-Run Analysis.

64. Solve the following questions?

Correct Answer: (c) Number of explanatory variables dropped in the restricted model.
Solution:

The F value is calculated using the formula-
Where, SSE = residual sum of squares
m = number of restrictions.
or number of explanatory variables dropped in the restricted model.

65. Which of the following is not true in case of deadweight loss of taxes?

Correct Answer: (d) Deadweight loss of commodity taxation is inversely related to the elasticity of demand.
Solution:

4ᵗʰ Statement is incorrect As the deadweight loss of commodity taxation is directly related to the elasticity of demand.

66. Arrange the Maternal Mortality ratio (Per 1 lakh live births) of the following states for the year 2018-20 in ascending order:

A. Andhra Pradesh
B. Gujrat
C. Maharashtra
D. Karnataka
E. Tamil Nadu
Choose the correct answer from the options given below:

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

Maternal mortality ratio (Per 1 lakhs live births) of the following states for the year 2018-20 in ascending order :
(C) Maharashtra
(A) Andhra Pradesh
(E) Tamil Nadu
(B) Gujarat
(D) Karnataka

67. Solve the following question?

Correct Answer: (b) 3
Solution:



68. Match List-I with List-II.

List-IList-II
A. Elinor OstromI. Tragedy of the commons
B. Johan RockstromII. Integrating climate change into long-run macroeconomic analysis
C. Garrett HardinIII. Boundaries of Earth's Life-support
D. William NordhausIV. Analysis of economic governance, especially the commons

Choose the correct answer from the options given below:

Correct Answer: (c) A-IV, B-III, C-I, D-II
Solution:

The correct match is as follows:

List-I-List-II
A. Elinor Ostrom-Analysis of economic governance, especially the commons
B. Johan Rockstrom-Boundaries of Earth's Life-support
C. Garrett Hardin-Tragedy of the commons
D. William Nordhaus-Integrating climate change into long-run macro economic analysis

69. The Rule of thumb to express price dirctly as a mark up over marginal cost is:

Correct Answer: (a)
Solution:

70. Which of the following depicts the Verdoorn's law correctly?

Correct Answer: (a) There exists a strong positive correlation between the growth of the manufacturing output and the growth of productivity in manufacturing.
Solution:

The Verdoon's law :-
 There exist a strong positive correlation between the growth of the manufacturing output & the growth of productivity in manufacturing.