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

Total Questions: 100

61. Which of the following are true for an oligopolistic market?

A. The demand curve of oligopolistic market is indeterminate.
B. There is a possibility of only two sellers.
C. The product may be homogenous or differentiated.
D. There is free entry into and free exist out of the market.
E. There is an importance of advertisement cost.
Choose the correct answer from the options given below.

(a) A, B, C and D only
(b) B, C and D only
(c) A, B, C and E only
(d) B, C, D, E only

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

Solution:

The demand curve of oligopolistic market is indeterminate.
• There is a possibility of only two sellers.
• The product may be homogenous or differentiates
• There is an importance of advertisement cost.
A, B, C and E only.

62. Which of the following trends conform to the population projections for India based on the Census of India 2011, as carried out by the Technical Group on Population Projections under the aegis of National Commission on Population.

A. The infant mortality rate is expected to decline in all states during 2011-2035.
B. The average age of Indians is expected to be higher in 2036 compared to 2011.
C. The crude birth rate is expected to increase due to increasing level of total fertility.
D. The crude death rate is expected to decrease owing to the chaning age structure of the population.
E. As per the projected sex ratio, the population in 2036 is expected to be more feminine compared to the population in 2011.
Choose the correct answer from the options given below.

(a) A, B and C only
(b) A, B and E only
(c) A, D and E only
(d) B, C and E only

Correct Answer: (b) A, B and E only

Solution:

Population Projections for India & State 2011- 2035.

• Out of the total population increase of 30.7 crores between 2011 and 2036, the share of the workers in the age group 15-59 years in this total increase is 82.5 percent.

• The sex ratio of total population is expected to increase from 943 in 2011 to 957 during 2036.

• The total fertility rate calculated as the average number of children a women is likely to have at the end of her reproductive period & is expected to from 2.37 in 2011-15 to 1.73 during 2031-35.

• The urban population of India is projected to rise from 31.8 percent in 2011 to 38.2 percent in 2036.

• The infant mortality rate of the country, which is reported to 46 in 2010 is expected to go down to 30 by the end of the period 2031-2035.

63. Consider a competitive polluting industry with identical firms and free entry. If the regulator sets an emission cap for each firm equal to the socially optimal long run level per firm, which of the following will characterize the long run impact of such an environmental policy on this competitive industry?

A. The industry size will be larger than the social optimum.
B. The output produced by each firm will be less than socially optimal.
C. The industry size will be smaller than the social optimum.
D. The output produced by each firm will be larger than socially optimal.
E. Total output and total pollution are greater than the social optimum.
Choose the correct answer from the options given below.

(a) A, D and E only
(b) B, C and E only
(c) C, D and E only
(d) A, B and E only

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

Solution:

• The Industry size will be larger than the social optimum.
• The output produced by each firm will be less than socially optimal.
• Total output and total pollution are greater than the social optimum.

64. Which of the following are the members of SAARC countries?

A. India
B. Pakistan
C. Sri Lanka
D. Afghanistan
E. China
Choose the correct answer from the options given below.

(a) A, C and E only
(b) B, C and E only
(c) A, D and E only
(d) A, B, C and D only

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

Solution:

The South Asian for Regional Co-operation (SAARC) is an organisation of South Asian Nations, which was established on 8 December, 1985.

• There are 8 members of SAARC - Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka and Afghanistan become 8th member in 2007.

65. Which of the following forms the credit side of the Balance of Payments?

A. Unilateral transfer received
B. Capital transfer received
C. Income Payments (Import of factor services)
D. Exports of factor services
E. Merchandise imports
Choose the correct answer from the options given below.

(a) A, B and E only
(b) B, C and D only
(c) A, C and D only
(d) A, B and D only

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

Solution:

• Unilateral transfer received.
• Capital transfer received.
• Exports of factor services.

66. Match List-I with List-II.

List-I (Description)	List-II (Term)
A. Extra risk than an investor must incur to enjoy a higher expected return.	I. Risk Asset
B. Tendency of individuals to value an item more when they own it than when they do not.	II. Moral Hazard
C. Provides an uncertain flow of money or services to its owner.	III. Price of Risk
D. When a party whose actions are unobserved can affect the probability of payment associated with an event.	IV. Endowment effect

Choose the correct answer from the options given below.

(a) A-I, B-IV, C-III, D-I
(b) A-III, B-IV, C-I, D-II
(c) A-III, B-IV, C-II,D-I
(d) A-I, B-II, C-III, D-IV

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

Solution:

List-I (Description)	List-II (Term)
A. Extra risk than an investor must incur to enjoy a higher expected return.	III. Price of Risk
B. Tendency of individuals to value an item more when they own it than when they do not.	IV. Endowment effect
C. Provides an uncertain flow of money or services to its owner.	I. Risky Asset
D. When a party whose actions are unobserved can affect the probability of payment associated with an event.	II. Moral Hazard.

67. Match List-I with List-II.

List-I (Economist)	List-II (Theory/Concept)
A. A.W. Phillips	I. Trade off between wage and unemployment
B. Findley Shiraz	II. Money illusion
C. Modigliani	III. Life cycle hypothesis
D. Pigou	IV. Taxable capacity

Choose the correct answer from the options given below.

(a) A-II. B-I, C-III, D-IV
(b) A-I. B-IV, C-III, D-II
(c) A-I. B-II. C-III, D-IV
(d) A-III, B-IV, C-I, D-II

Correct Answer: (b) A-I. B-IV, C-III, D-II

Solution:

List-I (Economist)	List-II (Theory/Concept)
A. A.W. Phillips	I. Trade off between wage and unemployment
B. Findley Shiraz	IV. Taxable capacity
C. Modigliani	III. Life cycle hypothesis
D. Pigou	II. Money illusion

68. Match List-I with List-II.

List-I	List-II
A. Censored regression Model	I. Probit Model
B. Normit Model	II. Marc Nerlove
C. Distributed-lags Model	III. Tobit Model
D. Partial adjustment Model	IV. L.M. Koyck

Choose the correct answer from the options Mode-3 given below.

(a) A-I, B-III, C-II, D-IV
(b) A-III, B-I, C-IV, D-II
(c) A-III, B-IV, C-I, D-II
(d) A-IV, B-III, C-I, D-II

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

Solution:

List-I	List-II
A. Censored regression Model	III. Tobit Model
B. Normit Model	I. Probit Model
C. Distributed-lags Model	IV. L.M. Koyck
D. Partial adjustment Model	II. Marc Nerlove

69. Match List-I with List-II.

Choose the correct answer from the options givern below.

(a) A-III, B-IV, C-I, D-II
(b) A-III, B-I, C-IV, D-II
(c) A-II, B-I, C-III, C-IV
(d) A-II, B-III, C-IV, D-I

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

Solution:

70. Match List-I with List-II.

List-I (GATS Mode)	List-II (Definition/Description)
A. GATS, Mode-1	I. Cross-border trade
B. GATS, Mode-2	II. Commercial presence
C. GATS, Mode-3	III. Temporary movement of natural persons
D. GATS, Mode-4	IV. Consumption abroad

Choose the correct answer from the options given below.

(a) A-I, B-IV, C-III, D-II
(b) A-I, B-IV, C-II, D-III
(c) A-I, B-II, C-IV, D-III
(d) A-I, B-II, C-III, C-IV

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

Solution:

List-I (GATS Mode)	List-II (Definition/Description)
A. GATS, Mode-1	I. Cross-border trade
B. GATS, Mode-2	IV. Consumption abroad
C. GATS, Mode-3	II. Commercial presence
D. GATS, Mode-4	III. Temporary movement of natural persons