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