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

Total Questions: 100

11. Find the producer's surplus when.

Correct Answer: (c) 450
Solution:




12. Solve the following equation.

Correct Answer: (c) 0.52
Solution:

13. Find the substitution parameter p(rho) of constant elasticity of substitution (CES) production function when the elasticity of substitution (σ) is greater than one.

Correct Answer: (c) -1<r< 0
Solution:

14. In logit model, as the odds ratio decreases from 1 to 0, the logit becomes.

Correct Answer: (a) Negative
Solution:

The logit becomes negative and increasingly large in magnitude as the odds ratio decreases from I to 0 and becomes increasingly large and positive as the odds ratio increase from 1 to injinity.

15. Given regression model as Yᵢ = α₁ + B₁ X; + B₂ (Xᵢ-X*) Di + Uᵢ such a model is used to.

Correct Answer: (d) Test piecewise linear relationship in the data
Solution:


Test Piecewise linear relationship in the data.
Note: Regression:
• Reversed Linear regression,

Piece wise linear regression (there are K possible mappings) :

16. A player tosses two fair coins. He wins Rs. 5 if 2 heads occurs, Rs. 2 if 1 head occurs and Rs. 1 if no head occurs. Find his expected gain.

Correct Answer: (d) Rs. 2.50
Solution:


17. A card is thrown from a well shuffled pack of playing cards. Find the probability that it is either a diamond or a king.

Correct Answer: (b) 16/52
Solution:

18. In simultaneous equation models. OLS can be applied directly if.

Correct Answer: (a) It is a recursive model
Solution:

In Simultaneous equation models, OLS can be applied directly if it is a recursive model.
Note-
System of equation of this kind are called "recursive" or "triangular models". If in addition there is no correlation between the stochastic disturbances, then we refer to the system as "diagonally recursive".

Ordinary Least Squares (OLS) is an appropriate estimator for each single equation in a "diagonally recursive".
Ordinary Least Squares (OLS) is an appropriate estimator for each single equation in a diagonally recursive system because it can be shown that for such a such a system OLS yields consistent and (asymptotically) efficient estimates.

19. The Rural Landless Employment guarantee Programme (RLEGP) was launched on.

Correct Answer: (c) 15ᵗʰ August, 1983
Solution:

The Rural Landless Employment Guarantee (REGP) was a Program in India that Guaranteed 100 days of employment to landless people. It was launched on August 15, 1983 by Prime Minister Indira Gandhi and ran until 1989. The program was fully funded by the Central Government.

20. The Foreign Trade Policy (2015-2020) was announced on which date?

Correct Answer: (b) 1 April, 2015
Solution:

The Foreign Trade Policy (FTP) 2015-20 was announced on April 1, 2015 by Nirmala Sitharaman, the Minister of State for Commernce & Industry. The policy was valid until March 31, 2020, but was extended by one year due to the COVID-19 pandemic.