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

Total Questions: 100

51. If A, B and C are three different non-empty sets, then find which of the following are correct in laws of the set operation.

Choose the correct answer from the options given below.

Correct Answer: (d) A, B and C only
Solution:

52. Which among the following are main components of PM e-Vidya.

A. One Nation, One Digital Education.
B. Infrastructure and Electronic Governance.
C. One Class, One T.V. Channel
D. Extensive use of radio, Community radio and Podcasts
E. Information and Communication Technology.
Choose the correct answer from the options given below.

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

(A) One Nation,
(B) One Digital Education.
(C) One Class, one T.V. Channel.
(D) Extensive use of radio, community radio and Podcasts.
(E) Information and communication Technology.

Note:-
PM-e-Vidya : One Nation One Digital Platform (Diksha QR Code e-content)
• Digital Infrastructure for knowledge sharing.
• Swayam Portal.
• Swayam Prabha TV Channels.
• Extensive use of radio, community radio, and podcast.
• Specially e-content for children with special needs.
• Online coaching for competitive exams.

53. Which of the following are the alternative estimates of poverty in India?

A. Danderkar and Rath Estimate
B. O.P. Chopra Estimate
C. P.D. Ojha Estimate
D. B.S. Minhas Estimate
E. D.K. Rangnekar Estimate
Choose the correct answer from the options given below.

Correct Answer: (c) A. C and D only
Solution:

Committees related to poverty
(1) National Planning Committee setup in year 1938 by Subhash Chandra Bose with Jawaharlal Nehru.
(2) Y.K. Alagh Committee (1979)
(3) Lakdawala Committee (1993)
(4) Tendulkar Committee (2004-05)
(5) Rangarajan Committee (2012)
(6) Dandekar & Rath Committee (1971)
(7) P. D. Ojha Committee (1960-61)
(8) B. S. Minhas Committee (1971-73)
(9) P.K. Bardhan Committee (1960-61)
(10) MS Ahluwalia → He studied poverty trend over a period of 1956-57 to 1973-74.

54. Which of the following objectives are correct for the Public Sector?

A. To create employment opportunities
B. To promote balanced regional growth
C. To promote agriculture growth
D. To promote rapid economic development
E. To promote the banking sector of the econony
Choose the correct answer from the options given below.

Correct Answer: (d) A, B, C, D and E
Solution:Importance of the public sector in the Economy
• It plays a key role in the economic development of a country.
• It helps in providing essential services to the citizens.
• It helps in reducing regional imbalances.
• It provides employment opportunities.
• It helps in the development of infrastructure.
• It encourages private investment.
• It helps in promoting banking sector of the economy.
• It promotes exports.
• The public sector is the backbone of the Indian economy and it plays a pivotal role in its development.

55. Which of the following are required for a good tax system?

A. Revenue yield should be adequate.
B. Tax system should be so that different income groups of people pay tax equally.
C. Adiminstrative and compliance cost of tax should be as minimum as possible.
D. Tax system should not permit scope for tax leakage and tax evasion.
E. Tax should be chosen to maximise interference with market efficiency. Choose the correct answer from the options given below.

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

Good tax system feature
(1) Fairness.
(2) Adequacy.
(3) Simplicity.
(4) Transparency.
(5) Administrative case.
Some more features of good tax system.
(i) Maximum social benefit.
(ii) Equality.
(iii) Productivity of the tax system.
(iv) Rights of tax-payers.
(v) Universal application of taxes.
(vi) Elasticity.
(vii) Convenience.

56. Federal transfers to states are required mainly.

A. To offset unequal assignment of resources and responsibilities between Federal Government and State Government.
B. To correct spillovers of benefits of public goods between jurisdictions.
C. To address horizontal fiscal imbalances.
D. To argument resources of local bodies.
E. For overall efficiency of tax system.
Choose the correct answer from the options given below.

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

Function of Finance Commission.
• The distribution of net proceeds of tax between the union and state, which are to be, or may be, divided between them, and allocations between the state of the respective shares of such proceeds.
• The standard of conduct should manage the grant-inaid of the revenue of the state out of the consolidated funds of India.
• The measure required to build up the consolidated funds of a state to increase the resources of Panchayat in the state on the basis of the recommendations made by the finance commission of India.
• The measures required to build up the consolidated funds of a state to increase the resource of municipalities in the state on the basis of the recommendations made by the finance commission of India.

57. Which of the following are expansionary monetary policy measures to cure deflation?

A. The Central bank buys government securities from commercial banks and public.
B. The Central bank may hike the bank rate.
C. The Central bank may increase the cash reserve ratio.
D. The Central bank may reduce the cash reserve ratio.
E. The Central bank may lower the bank rate.
Choose the correct answer from the options given below.

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

(i) The Central Bank buys government securities from commercial banks and Public.
(ii) The Central bank may reduce the cash reserve ratio.
(iii) The Central bank may lower the bank rate.

58. The main features of Treasury bills are that.

A. They are issued at a discount are are repaid at par on maturity.
B. They have low liquidity on account of their short tenure.
C. There is no default risk.
D. They offer an assured yield.
E. They have a high transaction cost.
Choose the correct answer from the options given below.

Correct Answer: (b) A, Cand D only
Solution:

Main features of treasury bills are that:-
(i) They are issued at a discount and are repaid at par on maturity.
(ii) There is no default risk.
(iii) They offer an assured yield.

59. Which of the following are correct in case of probability of two independent events A and B?


Choose the correct answer from the options given below.

Correct Answer: (b) A, C and D only
Solution:

As probability of two events A & B are independent so,
A. P (A/B) = P(A) is correct.
B. P (A/B) = P(B) is incorrect because their is no role of B as it is a independent event
C. P (A∩B) = P (A). P(B)
⇒ P (A and B) = P(A). P(B) is correct
D. P(A̅ ∩ B̅) = P(A̅). P(B̅)
⇒ A, C & D

60. Harrod-Domar classification of growth includes, which of the following?

A. Natural growth rate
B. Desired growth rate
C. Warranted growth rate
D. Possible growth rate
E. Population growth rate
Choose the correct answer from the options given below.

Correct Answer: (b) A and C only
Solution:

Harrod-Domar Classification of growth includes-
(i) Natural growth rate
(ii) Steady growth rate
(iii)Warranted growth rate.