NTA UGC NET/JRF Exam, December-2022 Economics (Shift-I)

Total Questions: 100

21. Which institution has published the Human Development Report annually since 1990?

Correct Answer: (d) United National Development Programme
Solution:

The HDR is an annual Human Development Index report published by the Human development report office of the UNDP. The first HDR was launched in 1990 by the Pakistani economist Mahbub -ul- Haq and Indian Nobel laureate Amarstya Sen.

22. Which Five year plan proposed to make India, 28. "Self-reliant and Self generating economy"?

Correct Answer: (b) IIIʳᵈ Five year plan
Solution:

Third five year Plan : The time period of the third plan was 1961 to 1966. the plan focused on the growth of industry and agriculture. The aim was to make India a "Self Reliant" and "Self generating" economy..

23. The birth of World Trade Organisation emerged from which round?

Correct Answer: (c) Urgually
Solution:

The Urugvay round of GATT (1986-93) gave birth to World Trade Organisation.
The members of GATT signed on an agreement of Urugvay round in April, 1994 in Morocco for establishing a new organization named WTО.

24. Тotal Budget Allocation in year 2022-23. For "Har Ghar, Nal Se Jal" in rupees is.

Correct Answer: (c) 60,000/- crore
Solution:

Smt. Nirmala Sitaraman announced an allocation of Rs. 60, 000 crore to cover 3.8 crore households in 2022-23 for Har Ghar, Nal se Jal.

25. A toll is a tax on those citizens who use toll roads. This policy can be viewed as an application of.

Correct Answer: (a) The benefit principle
Solution:

This policy can be viewed as an application of the benefit principle this principle is based on the notion that those who will take more benefit from government expenditure they have to pay more tax in compared to those who do not.

26. Which of the following formulae is used to measure the tax mutiplier.

Correct Answer: (a)
Solution:

The tax multiplier is Calculated using a variable called MPC (marginal propensity to consume), which is the percentage of an increase in income that is spent. Tax multiplier is then calculated using the formula;

27. The Free-rider problem arises.

Correct Answer: (c) When number of beneficiaries is large and exlcusion of any one of them is impossible.
Solution:

The free rider problem is an economic concept of a market failure that occurs when people are benefiting from resources, goods, or services that they do not pay for if these are too many free riders, the resources, goods or services may be overprovided therefore, this would create a free rider problem.

28. The money supply in the IS-LM model is assumed to be.

Correct Answer: (d) Real money supply
Solution:

The LM curve shifts right/left when the money supply (real money balances) increases/decreases.

It also shifts left/right when money demand increases/decreases.

Nominal money is money value measured in terms of currency face value and real money is the value of the same money measured in terms of goods and services.

To clarify it more, the Real money value is one that is adjusted for inflation.

Nominal value or money is an unadjusted value.

29. Which of the following two economists are associated with the problem of time inconsistency?

Correct Answer: (b) Kydland and Prescott
Solution:

There are four equilibrium is associated with the time inconsistency literature. The first three were outlined by kydland & Prescott in their 1977 seminal paper. The Cast outcome is nested within the first three and was introduced by Barro & gordan in 1983.

30. The Value-Trade ratio captures trading relative to the size of the.

Correct Answer: (a) Economy
Solution:

The trade to GDP ratio is an indicator of the relative importance of international trade in the economy of a country.

It is calculated by dividing the aggregate value of imports and exports over a period by GDP for the same period.