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

(i) MC schedule is obtained by subtracting successive value of either TC or TVC.
(ii) The area under the MC curve equals TVС

Marginal cost represents the additional cost incurred by producing one more unit of output. Area under mc.

When you sum up all these MC values across range of production you essentially get the total variable cost incurred to produce that quantity.
(iii) AVC = AC - AFC.

Estimation of regression coefficient in the presence of high but not prerfect multi linearity may result in all of these except almost all the estimates are statistically significant.

Important points:-
When estimating regression coefficient in the presence of high but not perfect multicollinearity, the primary effect is that the estimated coefficients will have large standard errors, making it difficult to accurately determine the individual impact of each independent variable on the dependent variable, even if the overall model it (R squared ) appears good, essentially, the coefficient becomes less precise and more sensitive to small change in the data.

Correct Statements are-
(i) Pollution tax was suggested by pigou.
(ii) Population growth follows a logistic distribution.

(i) Regional Rural Banks Act - 9 Feb 1976
(ii) Export Import Bank of India Act - 1981
(iii) Chit Fund Act - 19 Aug 1982
(iv) National Housing Bank Act - 1987
(v) Prevention of Money Laundering Act -1 July 2005
Internal rate of return is a criterion in cost benefit analysis.

(i) 364- day treasury bills were introduced in India in April 1992 on a fortnightly action basis.

(ii) The IRDA was established in 1999 on the recommendation of the malhotra committee report

(iii) No, the merges of global trust bank (GTB) & UTI Bank was called off in 2001 due to preliminary investigation by the securities and exchange Board of India (SEBI). GTB was later merged with oriental Bank of commerce (now PNB) in 2004. UTI Bank changed its name to Axis Bank in 2007.

(iv) Fiscal responsibility and budget management Act, 2003.

(v) By the early 2000, the term financial inclusion was being used in the Indian context. In 2004, the khan commission, created by the reserve Bank of India (RBI), investigated the state of financial inclusion in India and laid out a series of recommendations.

(i) According to the accelerator modules, investment demand is proportional to the change in GNP.
(ii) The higher the real interest rate the higher in the rental cost of capital.

A tax rate is not considered an instrument of monetary policy. It is primarily a tool of fiscal policy, managed by the government, while monetary policy is controlled by the central bank and focuses on managing interest rates and money supply through tools like reserve requirements and open market operations.

First 28 completed days of life considered as the Neonatal death.

(i) Second Five year Plan in India was in effect from 1956 to 1961.

(ii) Nationalization of Bank- On 19th July 1969, a major process of nationalization was carried out and 14 major commercial banks in India were nationalized. The second phase of nationalization Indian Banking sector Reform was carried out in 1980 with six more banks.

(iii) The Export- Import Bank of India Act was passed in September 1981 and the Bank commenced its operations in March 1982. Today with our rich pedigree, we serve as a growth engine for Indian Businesses range of products and services.

(iv) Small Industries Development Bank of India (SIDBI) was established under an Act of the parliament in 1990.

(v) The Fiscal Responsibility and Budget Management (FRBM) Act, 2003 was enacted with the objective of ensuring inter- generational equity in fiscal management and long-term macroeconomic stability.

The concept of efficiency wage theory was developed by yellen and stiglitz.
Notes- Carl shapiro & joseph stiglitz Developed the shapirostiglitz theory of efficiency wages which explains why wages are unlikely to fall and how involuntary unemployment occurs.