NTA UGC NET/JRF Re-Exam, June-2024 Economics

Total Questions: 100

1. Solve the following question?

Correct Answer: (b) Zero
Solution:

2. Match List-I with List-II.

List-IList-II
(A) Travel cost method(I) Sustainable development
(B) Stern review(II) Exhaustible resources
(C) Brundtland commission report(III) Climate change
(D) User cost(IV) Environmental valuation

Choose the correct answer from the options given below

Correct Answer: (c) (A)-(IV), (B)-(III), (C)-(I), (D)-(II)
Solution:
List-IList-II
(A) Travel cost method(IV) Environmental valuation
(B) Stern review(III) Climate change
(C) Brundtland commission report(I) Sustainable development
(D) User cost(II) Exhaustible resources

3. Arrange the following in correct chronological order strading from the earliest to the latest:

(A) Coase theorem
(B) Hotelling principle
(C) Nash equilibrium
(D) Kyoto Protocol
(E) Establishment of IUCN (International Union for Conservation of nature)
Choose the correct answer from the options given below: Choose the correct answer from the options given below: (a) (B), (E),

Correct Answer: (a) (B), (E), (C), (A), (D)
Solution:
No.Event / ConceptDetails / Date
i.Hotelling PrincipleIt contributes to economics include Hotel rule in 1931 & Hotelling law in 1929
ii.Establishment of IUCN5 October 1948
iii.Nash equilibrium1950
iv.Coase theorem1960
v.Kyoto protocol11 December 1997

4. Match List-I with List-II.

List-I (Concept/Index)List-II (Proponent)
(A) PQLI (Physical Quality of Life Index)(I) Amartya Sen
(B) HDI (Human Development Index)(II) Mehbub-Ul-Haque
(C) Capability Approach to Development(III) Alkire and Foster
(D) Multi-Dimensional Poverty Index(IV) Morris D. Morris

Choose the correct answer from the options given below:

Correct Answer: (a) (A)-(IV), (B)-(II), (C)-(I), (D)-(III)
Solution:
List-I (Concept/Index)List-II (Proponent)
(A) PQLI (Physical Quality of Life Index)(IV) Morris D. Morris
(B) HDI (Human Development Index)(II) Mehbub-Ul-Haque
(C) Capability Approach to Development(I) Amartya Sen
(D) Multi-Dimensional Poverty Index(III) Alkire and Foster

5. Match List-I with List-II.

List-I (Author)List-II (Work/Concept)
(A) Rachel Carson(I) Economics of Biodiversity
(B) Kenneth Boulding(II) Economics of coming spaceship earth
(C) G. Hardin(III) Silent spring
(D) Partha Dasgupta(IV) Tragedy of commons

Choose the correct answer from the options given below

Correct Answer: (d) (A)-(IV), (B)-(II), (C)-(IV), (D)-(I)
Solution:
List-I (Author)List-II (Work/Concept)
(A) Rachel Carson(III) Silent spring
(B) Kenneth Boulding(II) Economics of coming spaceship earth
(C) G. Hardin(IV) Tragedy of commons
(D) Partha Dasgupta(I) Economics of Biodiversity

6. Solve the following question?


Correct Answer: (b)
Solution:

7. The lowest value of a set observations is 4.5 and their range is 10.9 Arithmetic mean is found to be 19.9 and median found to be 15.6. Which of the following statements is correct?

Correct Answer: (c) Both arithmetic mean and median are wrong
Solution:

Lowest value of a set of observation = 4.5 range = 10.9
Maximum value = minimum value + range
= 4.5 + 10.9
= 15.4
Arithmetic mean & median can not be greater than maximum value, so Arithmetic mean = 19.9 & median
= 15.6 is not possible so both arithmetic mean & median are wrong.

8. The rise in the nominal stock of money causes:

Correct Answer: (b) A reduction in the equilibrium nominal interest rate and an increase in equilibrium real income
Solution:

A rise in the nominal stock of monex causes a reduction in the equilibrium norp al interei rate and an increase in equilibrium real income.
Important points:-
An increase in the supply of money typically lower interest of money typically lower interest rates, which generates more investment and puts more money in the hands of consumers thereby stimulating spending.

Businesses respond by ordering more raw materials and increasing production. The increased business activity raises the demand for labor.

9. Inflation confers no benefits on society, but it imposes several real costs. What among the following are costs of inflation?

(A) Shoe leather cost associated with reduced money holdings
(B) Menu cost associated with more frequent adjustmental prices
(C) Increased variability of relative prices
(D) Unintended changes in tax liabilities due to no indexation of the tax code
(E) Arbitrary redistribution of wealth associated with debts
Choose the correct answer from the options given below:

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

The cost of inflation include; reduced purchasing power for individuals, uncertainty in planning for businesses due to fluctuating prices, decreased investment, potential for social unrest, mereased cost of borrowing, and distortions in relative prices, essentially meaning people with fixed incomes are disproportionately affected by rising prices.

10. Match List-I with List-II.

List-IList-II
(A) Ad Valorem Tariff(I) Fixed sum per unit
(B) Autarky(II) Combination of Ad Valorem and specific tariff
(C) Compound Tariff(III) No trade with other countries
(D) Specific Tariff(IV) A percentage of the value of the traded commodity

Choose the correct answer from the options given:

Correct Answer: (b) (A)-(IV), (B)-(III), (C)-(II), (D)-(I)
Solution:
List-IList-II
(A) Ad Valorem TariffA percentage of the value of the traded commodity.
(B) AutarkyNo trade with other countries
(C) Compound TariffCombination of Ad valorem and specific tariff
(D) Specific TariffFixed sum per unit