NTA UGC NET/JRF Exam, June 2020 Economics

Total Questions: 100

21. Labour force participation rate is given by:

Correct Answer: (c)
Solution:

Labour force participation rate is given by ⇒ (Laboure Force/Adult Population) × 100

22. GDP expressed in terms of current prices is called:

Correct Answer: (c) Nominal GDP
Solution:

Nominal GDP reflects the current price level of goods and services and ignores the effect of inflation on the growth of GDP.

23. Which of the following equations represent national income identity?

A. Y = C +X
B. Y = C+I +G+S
C. Y = C+ G + (X -M)
D. Y = C+I+G+M
Choose the correct answer from the options given below:

Correct Answer: (b) C only
Solution:

Y = C + I + G + (X - M) represents national income.

24. Match List-I with List-II

List-I (Theory/Hypothesis)List-II (Economist)
A. Permanent Income HypothesisI. F. Modigliani
B. Relative Income HypothesisII. J.M. Keynes
C. Absolute Income HypothesisIII. M. Friedman
D. Life Cycle HypothesisIV. J. Dusenberry

Choose the correct answer from the options given below:

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

The correct match is:-

List-I (Theory/Hypothesis)List-II (Economist)
Permanent Income HypothesisM. Friedman
Relative Income HypothesisJ. Dusenberry
Absolute Income HypothesisJ.M. Keynes
Life Cycle HypothesisF. Modigliani

25. For any two equally likely, exhaustive and independent events A and B, P (AB) will be equal to:

Correct Answer: (b) 0.25
Solution:

For any two equally likely, exhaustive and independent events A and B. Thus for any two equally likely, exhaustive and independent events A and B. P (AB) will be equal to 0.25.

26. What type of relationship exists between two variables, if all points on the scatter diagram appear to fall on a straight line going upward from left to right?

Correct Answer: (b) Perfect positive correlation
Solution:

A scatter plot with a positive correlation is a graph that shows that all of the data points are in a pattern trending upward from left to right.

The scatter plot shows that, in general, as X increases, Y increases as well which means the data points have a positive association or relationship.

27. Given 'o' as the Standard Deviation of a given series and if to each and every observation of the series is added a constant 'k', then what will be Standard Deviation of the new series?

Correct Answer: (c) α
Solution:

As adding constant 'K' doesn't change standard deviation.

28. Which one of the following price Index numbers satisfy the Factor Reversal Test?

Correct Answer: (d) Fisher's Price Index Number
Solution:

The Factor Reversal Test satisfied by Fisher index number only. Time reversal test satisfied by both fisher and Marshall Edgeworth.

29. Match List-I with List-II

Choose the correct answer from the options given below:

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

The correct match is:-

30. Given the sample size 400 with sample mean 99, the population mean 100 and computed value of z-statistic at 2.5, the value of population standard deviation will be:

Correct Answer: (c) 8
Solution:

Z-statistics = 2.5
Population mean = 100
Sample mean = 99
n = 400 (given)
z-statistics =