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

Total Questions: 100

71. Arrange the following initiatives launched by the government in order of their starting year from the oldest:

(A) Antyodaya Anna Yojana
(B) Mid-day Meal Scheme
(C) National food security Act
(D) Revised Public Distribution System
(E) Targeted Public Distribution system
Choose the correct answer form the options given below:

Correct Answer: (e) (*)
Solution:

(i) Mid day meal scheme was started in India on 15 August 1995 under the name of National programme of Nutritional support to primary education.
(ii) Antyodaya Anna yojana launched on 25 December 2000.
(iii) The Revamped PDS was launched in June 1992.
(iv) National food security Act, enacted in India in 2013.
(v) The TPDS was launched by the GOI in June 1997. This scheme was implemented in Haryana and Tripura in may 1997 and in all other states and union territories from June 1997.

72. Arrange the following theories in correct chronological order, starting from earliest to latest:

(A) Absorption approach
(B) Factor Price Equalisation theory
(C) Reciprocal Dumping model
(D) Leontief Paradox
(E) Immiserizing Growth Theory
Choose the correct answer from the option given below:

Correct Answer: (a) (B), (D), (A), (E), (C)
Solution:
IndexTheoryEconomist and Year
i.Factor Price Equalisation Theory1948 by economist paul samuelson
ii.Leontief Paradox1953 by wassily leontief
iii.Absorption approach1952 by stuart Alenxander but elaborated by Johnson in 1958
iv.Immiserizing Growth theory1958 Jagdish Bhagwati.
v.Reciprocal Dumping Model1983 by economist A. Brander and Paul Krugman.

73. In which agriculture year, India's first Agriculture Census was carried out?

Correct Answer: (c) 1970-71
Solution:

India's Ist Agricultural census was carried out with the reference year 1970-71.

74. The phrase 'demonstraiton effect' coined by:

Correct Answer: (a) James Duesenberry
Solution:

The phrase "demonstration effect" was coined by James Duesenberry.

75. Arrange the following in correct chronological order starting for the oldest to the latest:

(A) World Trade Organisation
(B) General Aggrement on Trade and Traiffs (GATT)
(C) New Economic Policy of India (NEP)
(D) Introduction of goods and services tax (GST)
(E) Establishment of NABARD
Choose the correct answer from the option given below:

Correct Answer: (b) (B), (E), (C), (A), (D)
Solution:
IndexOrganization / PolicyDate
(I)GATT1 Jan 1948
(ii)NABARD12 July 1982
(iii)NEP1991
(iv)WTO1 Jan 1995
(v)GST1 July 2017

76. Match List-I with List-II.

List-IList-II
(A) Labour capital ratio(I) The price of a commodity determined exclusively from its labour content
(B) Labour intensive commodity(II) The commodity with lower capital-labour ratio
(C) Labour theory of value progress(III) The amount of labour per unit of capital used
(D) Labour saving techning progress(IV) It increase the productivity more than the labour

It increases the productivity of capital proportionately more than the labour

Correct Answer: (a) (A)-(III), (B)-(II), (C)-(I), (D)-(IV)
Solution:
List-IList-II
(A) Labour capital ratio(III) The amount of labour per unit of capital used
(B) Labour intensive commodity(II) The commodity with lower capital-labour ratio
(C) Labour theory of value progress(I) The price of a commodity determined exclusively from its labour content
(D) Labour saving techning progress(IV) It increase the productivity more than the labour

77. In the Human development reporty 2003/2024 out of total 193 countreies included under the Human Development Index, in which of the following groups maximum number of countries have been classified on the basis of their Human Development Index Values?

Correct Answer: (a) Very high human development
Solution:

Very high human development.
Important points:-
The three measures of HDI are-
(i) Life expectancy (ii) Educational attainment (iii) Real GDP per capita.

78. Testing for cointegration is performed by:

Correct Answer: (c) Engel-Granger test
Solution:

Testing for cointegration in typically performed using either the Engle Granger two-step method or the Johansen test, both methods analyze if a linear combination of non-stationary time series results in a stationary series, indicating a long run relationship between the variables involved.

79. Match List-I with List-II.

List-IList-II
(A) Montreal Protocol(I) Contingent valuation method
(B) Cop 28(II) Control of CFC
(C) Rio + 20(III) Climate Conference
(D) Willingess to accept(IV) Sustainabale Development

Choose the correct answer the option given below:

Correct Answer: (a) (A)-(II), (B)-(III), (C)-(IV), (D)-(I)
Solution:
List-IList-II
(A) Montreal Protocol(II) Control of CFC
(B) Cop 28(III) Climate Conference
(C) Rio + 20(IV) Sustainabale Development
(D) Willingess to accept(I) Contingent valuation method

80. Solve the follwoing question?

The Nash equilibrium of the following game

Correct Answer: (a) The strategy combination (A₃, B₂) with outcome (4, 4)
Solution:

Nash equilibrium is a concept in game theory that occurs when each player in non-cooperative game choose and stays with their optimal strategy in response to knowing other players anticipated strategies. Also, no player in a Nash-equilibrium has a dominant strategy.
The strategy combination (A3, B2) with outcome (4, 4).