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UGC NET Economics Mock Test 2

UGC NET Economics Mock Test by Economics Harbour


  • The test will be for 2 hours and has 100 questions, all of which are compulsory.
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1. What is the relationship between mean, median and mode?
2. The real terms of trade may rise as a result of a change in the
3. The demand effect of economic development refers to the
4. Which of the following is NOT the assumption of Say’s Law of Markets?
5. Secondary deposits refers to
6. Which of the following is emphasised upon in the income theory of value of money?
7. An economic coalition among countries within a geographic region, usually characterised by liberalised internal trade and uniform restrictions on external trade, designed to promote regional economic integration and growth is called
8. If an economy is interested in raising the rate of growth of income in the short period it should
9. Price elasticity at the mid-point of a linear demand curve is
10. “Flight from money” refers to
11. The concept of primary deficit, calculated by subtracting the total interest payments from the fiscal deficit, was introduced for the first time in the
12. Dualistic development thesis focuses on coexistence which is
13. International Development Association was established on 24 September
14. Something which is freely used and generally accepted as a medium of exchange and as a unit of account is called
15. Quite often when production is expanded, ____ units of ____ factors of production are used.
16. In India, fiscal imbalance has been caused mainly by imprudent increase in
17. In the third stage of demographic transition
18. The vertical distance between average total cost curve and average variable cost curve goes on _____ as output level increases.
19. Deficit financing is a technique
20. An export duty hurts exporting producers more than it helps consumers or gives revenue to the government, leaving a net cost to the nation, if the nation faces a ____ world price for its exports.
21. The concept of economic planning in a narrow sense implies
22. What type of rate is the Current Daily Status Unemployment rate?
23. The value of marginal revenue at unit elasticity is
24. The classical economists assumed a
25. Which is the primary source of energy in India?
26. Rootless growth causes
27. Range, which is the simplest measure of dispersion, is used a great deal in
28. Since most of the households save a part of their income, the average propensity to consume is
29. Primary product export dependence has an unstable effect on the economy because of
30. Real income effect leads to
31. The aggregate supply response of agriculture in India is
32. Those cash payments which firms make to outsiders for their services and goods are called
33. The net barter terms of trade, also called the commodity terms of trade measures
34. Deficits on current account in the balance of payments refers to
35. Relationship between Arithmetic, Geometric and Harmonic Mean is
36. Production possibility curve assumes constancy of the following:
37. A fall in interest will produce the best effect on investment if investment demand schedule is
38. The study of price determination of the price of a single product on the assumption that the other prices are constant or given is a case of
39. If the slope of Average Cost Curve is positive then
40. Supernormal profit refers to
41. If organised sector employment is largely urban employment, then the relatively high rate of growth of urban employment is due to
42. Which of the following is an inversely U-Shaped curve?
43. The ____ elasticity is a measure of average elasticity.
44. As employment expands, producers expect correspondingly ____ amounts of proceeds.
45. “Warranted growth” of Harrod-Domar guarantees
46. Net indirect taxes is calculated by
47. The alternative formulation of the comparative cost doctrine developed by Hecksher and Ohlin explains
48. Stagflation is a state of the economy in which economic activity is
49. Full employment implies
50. Expansion in demand is concerned with
51. Investment function is given by (I = Investment, i= interest rate, F and G = coefficients)
52. Who defined full employment as “that level of employment at which any further increase in spending would result in an inflationary spiral of wages and prices”?
53. The sum obtained after discounting the expected future yields over the entire life of a machine at the market rate of interest is known as its
54. When aggregate supply price exceeds aggregate demand price, employment level shows a tendency to
55. The higher the economy’s capital-output ratio the _____ will be rate of GNP growth.
56. The level of utilisation of the plant which firms consider as “normal” is called
57. Increasing opportunity cost leads to
58. General equilibrium theory does not help in
59. According to John W. Mellor, the new technology reduces the cost of food production and thereby lowers down the food prices and increases demand for labour and thus the effects of new technology are
60. The new development strategy assumes
61. Which of the following is correct?
62. Ricardo showed that as long as the price ratios differ between countries, in the absence of trade, every country will have ______ advantage.
63. According to A.P. Rao, Krishna Bhardwaj and Usha Rani, farm size does
64. Increasing marginal product, when one input alone increases, could be due to
65. According to Keynes, the aggregate demand is made up of
66. The sign of the cross elasticity of demand is____ if both the goods are complementary.
67. If the physical volume of exports increases more than in proportion to the fall in the export prices, the income terms of trade improves even when
68. Labour-deepening technical progress increases the MP(L)
69. The International Monetary Organisation was established on December 27, 1945 in
70. ‘Subsistence fund’ refers to which of the following instances?
71. A bank with a large proportion of demand deposits may have to
72. Law of growth or the exponential law is most useful in economics in case of
73. The problem of cyclical unemployment in developed economies originates from
74. The increasing part of the SAVC curve reflects
75. The Small Industries Development Organisation was set up in
76. Median and mode both are called
77. When the given values of X form a geometric progression and X values form an arithmetic progression, the relationship between the variables is given by a/an
78. Development of indigenous technologies appropriate to a country’s resource endowment is a policy that is
79. Income effect and substitution effect can be traced from
80. What is considered as relatively stable in the Keynesian theory of employment?
81. Price elasticities at a price on two straight line demand curves originating from the same point on the ____ are equal.
82. Which of the following would not be termed “Near Money”?
83. The objectives of United Nations Conference on Trade and Development are
84. The proportion of a country’s national income that is devoted to consumption is called
85. Suppose a given family had an income of Rs. 10,000 and saved Rs. 500. What would be its average propensity to consume?
86. Each isoquant represents
87. The total area at various points on the average fixed cost curve shows
88. A budget surplus will lead to
89. “Reflation” refers to
90. In international trade perfect equality of prices can hardly be achieved because of
91. At an income level higher than the critical level, income raising forces are _____ than/as income depressing forces.
92. The States have been requested to take the following measure to empower the Gram Sabha
93. Which of the following can be defined as the percentage by which the entire set of a nation’s trade barriers raises the industry’s value added per unit of output?
94. The classical economists assumed _____ in the rate of exchange.
95. The Asian Development Bank was established in December 1946 and started its functions on January 1
96. The concept of net barter terms of trade ignores the impact of
97. The single factoral terms of trade is the net barter terms of trade adjusted for changes in the efficiency of a country’s factor in the
98. Behaviouristic theory is based on
99. Who estimated the number of persons below the poverty line on the basis of an average calorie intake of 2250 per capita per day?
100. When output increases as a result of expansion in employment, aggregate demand increases at a