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UGC NET DEC 2012 : ECONOMICS PAPER III

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PAPER-III ECONOMICS Signature and Name of Invigilator 1. (Signature) __________________________ OMR Sheet No. : ............................................... (To be filled by the Candidate) (Name) ____________________________ 2. (Signature) __________________________ (Name) ____________________________ D 01 1 2 1 Time : 2 /2 hours] Number of Pages in this Booklet : 24 Instructions for the Candidates 1. Write your roll number in the space provided on the top of this page. 2. This paper consists of seventy five multiple-choice type of questions. 3. At the commencement of examination, the question booklet will be given to you. In the first 5 minutes, you are requested to open the booklet and compulsorily examine it as below : (i) To have access to the Question Booklet, tear off the paper seal on the edge of this cover page. Do not accept a booklet without sticker-seal and do not accept an open booklet. (ii) Tally the number of pages and number of questions in the booklet with the information printed on the cover page. Faulty booklets due to pages/questions missing or duplicate or not in serial order or any other discrepancy should be got replaced immediately by a correct booklet from the invigilator within the period of 5 minutes. Afterwards, neither the Question Booklet will be replaced nor any extra time will be given. (iii) After this verification is over, the OMR Sheet Number should be entered on this Test Booklet. 4. Each item has four alternative responses marked (A), (B), (C) and (D). You have to darken the circle as indicated below on the correct response against each item. Example : where (C) is the correct response. 5. Your responses to the items are to be indicated in the OMR Sheet given inside the Booklet only. If you mark at any place other than in the circle in the OMR Sheet, it will not be evaluated. 6. Read instructions given inside carefully. 7. Rough Work is to be done in the end of this booklet. 8. If you write your Name, Roll Number, Phone Number or put any mark on any part of the OMR Sheet, except for the space allotted for the relevant entries, which may disclose your identity, or use abusive language or employ any other unfair means, you will render yourself liable to disqualification. 9. You have to return the test question booklet and Original OMR Sheet to the invigilators at the end of the examination compulsorily and must not carry it with you outside the Examination Hall. You are, however, allowed to carry duplicate copy of OMR Sheet on conclusion of examination. 10. Use only Blue/Black Ball point pen. 11. Use of any calculator or log table etc., is prohibited. 12. There is no negative marks for incorrect answers. D-01-12 Roll No. (In figures as per admission card) Roll No.________________________________ (In words) [Maximum Marks : 150 Number of Questions in this Booklet : 75 1. 2. - 3. , - - , : (i) - - (ii) - / - - (iii) OMR - 4. (A), (B), (C) (D) : (C) 5. OMR OMR , 6. 7. (Rough Work) 8. OMR , , , , , 9. - OMR OMR 10. / 11. ( ) 12. 1 P.T.O. ECONOMICS PAPER III Note : This paper contains seventy five (75) objective type questions of two (2) marks each. All questions are compulsory. 1. 4. Which of the following is not relevant in case of Sweezy s oligopoly model ? (A) A price cut by a firm is followed by the price cut by the rival firms. (B) Price hike is not followed by the rival firms. (C) Firms do not react to price change made by one of the firms. (D) Firms react to all kinds of price changes made by the rival. 5. Quasi rent is the reward to a factor of production which is (A) Economic rent in the short run but transfer earnings in the long run. (B) Transfer earnings in the short run. (C) Transfer earnings both in the short and long run. (D) Economic rent both in the short and long run. 6. According to the Loanable Funds Theory, the rate of interest is a function of (A) Investment (B) Desire to hoard money (C) Quantity of money (D) All the above 7. A demand curve, which is parallel to the horizontal axis, showing quantity, has the price elasticity equal to While analyzing the marginal productivity theory of distribution, Clark gave more emphasis on. (A) Demand for Labour (B) Supply of Labour (C) Both Demand as well as Supply of Labour (D) Profit Maximization (A) Zero (B) Infinity (C) Less than one (D) One 2. Although a monopolist can charge any price he likes, but does not charge a higher price than his equilibrium price because (A) higher price means fall in total revenue. (B) higher price can be charged only on that segment of firm s demand curve which is price inelastic implying that the marginal revenue will be negative. (C) it is inconsistent with profit maximization goal under monopoly. (D) marginal cost will be negative over the relevant range of output. 3. Which of the following conditions specify the least cost-output combination ? (A) PL/Pk = MRTS (B) PL/Pk = MPL/MPk (C) MPk/MPL = dL/dK (D) All the above Paper-III 2 D-01-12 III : (75) - (2) 1. 2. 4. 3. (A) PL/Pk = MRTS (B) PL/Pk = MPL/MPk (C) MPk/MPL = dL/dK (D) D-01-12 3 ( ) ? (A) (B) (C) (D) 7. ? (A) - (B) - (C) (D) 6. (A) (B) ( ) (C) (D) 5. , , : (A) (B) (C) (D) ? (A) (B) (C) (D) , ? (A) (B) (C) (D) Paper-III 8. A general equilibrium is defined as a state in which all economic units maximize their respective objective functions, all prices are simultaneously in equilibrium and all markets are cleared. The statement is (A) Correct (B) Not correct (C) Perfectly correct (D) None of the above 9. According to Mundell in an optimum currency area, the achievement of internal and external balance is possible through (A) Capital flows (B) Inflow of funds from abroad (C) Official development assistance (D) The mobility of factors 10. 11. 12. 13. Paper-III 4 What does Hedging mean ? (A) The acceptance of a foreign exchange risk. (B) The covering of a foreign exchange risk. (C) Foreign exchange speculation. (D) Foreign exchange arbitrage. 15. The core principles of multi lateral trading system are : I. Non-Discrimination II. Reciprocity III. Protectionism IV. Domestic Safeguards Select the right code from the list given below : (A) I, II and IV are correct. (B) II and III are correct. (C) II, III and IV are correct. (D) I and II are correct. Arrange in order the WTO ministerials : I. Geneva II. Doha III. Hong Kong IV. Seattle (A) II, IV, III, I (B) III, IV, I, II (C) IV, II, III, I (D) I, IV, II, III 14. An agreement between two countries to maintain a free trade area, a common external tariff, free mobility of capital and labour and degree of unification in government policies and monetary policy is called (A) Common market (B) Free trade area (C) Economic union (D) Customs union Assertion (A) : Many developing countries contend that labour standards constitute a barrier to free trade. Reason (R) : Their competitive advantage in the global economy is cheap labour. (A) Both (A) and (R) are correct but (R) is not the correct explanation of (A). (B) Both (A) and (R) are true and (R) is the correct explanation of (A). (C) (A) is false but (R) is true. (D) (A) is true but (R) is false. In which terms a unit of SDR was originally denominated ? (A) The world marked value of U.S. Dollar (B) The gold value equivalent of one US Dollar (C) The Pound-Sterling (D) The German Mark D-01-12 8. 9. 12. : (A) (B) (C) (D) 10. 11. , (A) (B) (C) (D) - : I. II. III. IV. (A) II, IV, III, I (B) III, IV, I, II (C) IV, II, III, I (D) I, IV, II, III 14. 5 (A) (B) (C) (D) ( ) 15. : I. II. III. IV. : (A) I, II IV (B) II III (C) II, III IV (D) I II D-01-12 (A) : (R) : (A) (A) (R) , (R), (A) (B) (A) (R) , (R), (A) (C) (A) , (R) (D) (A) , (R) 13. - - : (A) (B) (C) (D) . . . ? (A) . . (B) . . (C) - (D) Paper-III 16. Which of the following is an adverse effect of Euro Currency Market ? (A) International Capital Market (B) Decrease in World s Nominal Money Supply (C) Integration of International Capital Markets (D) Meeting BOP Deficit 17. Employment Guarantee Scheme was first introduced in (A) Gujarat (B) Madhya Pradesh (C) Maharashtra (D) Tamil Nadu 18. According to Weber s Theory of Location, the important factors influencing location are 1. Transport Cost 2. Land Cost 3. Labour Cost 4. Innovation Cost Choose the correct code : (A) 1 & 2 (B) 2 & 3 (C) 1 & 3 (D) 1 & 4 Paper-III The production of finished steel in India, since independence, has increased over (A) 10 times (B) 20 times (C) 30 times (D) 50 times 23. The concept of Effective Revenue Deficit has been used for the first time in the Union Budget for (A) 2009 10 (B) 2010 11 (C) 2011 12 (D) 2008 09 24. 6 There are four phases of a business cycle. Identify the correct sequence of the occurrence of these phases : (A) Recovery, Recession, Expansion, Depression (B) Recovery, Expansion, Depression, Recession (C) Depression, Expansion, Recession, Recovery (D) Recovery, Expansion, Recession, Depression 22. Given below are two statements, one labelled as assertion (A) and the other labelled as Reason (R). Assertion (A) : India s Public sector helped in the development of a sound industrial base. Reason (R) : Public sector is under State control. The role of State in formulating appropriate policies and providing financial and other support has helped the public sector. (A) (A) is correct, but (R) is wrong. (B) Both (A) & (R) are correct. (C) (A) is wrong but (R) is correct. (D) Both (A) and (R) are wrong. Match labour force with the appropriate item from amongst the following : (A) Work force (B) All educated (C) Employed + Unemployed (D) All rural workers 21. 19. 20. Which tax is likely to contribute maximum to the Central Government tax revenue during the year 2011 12 ? (A) Central Excise Duty (B) Customs Duties (C) Income Tax (D) Corporate Tax D-01-12 16. ? (A) (B) (C) (D) . . . 17. ? (A) (B) (C) (D) 18. 1. 2. 3. 4. : (A) 1 2 (B) 2 3 (C) 1 3 (D) 1 4 19. 20. 21. D-01-12 ? (A) 10 (B) 20 (C) 30 (D) 50 23. ? (A) 2009 10 (B) 2010 11 (C) 2011 12 (D) 2008 09 24. 7 : (A) , , , (B) , , , (C) , , , (D) , , , 22. (A) (R) : (A) : (R) : (A) (A) (R) (B) (A) (R) (C) (A) , (R) (D) (A) (R) : (A) (B) (C) (D) 2011 12 ? (A) (B) (C) (D) / Paper-III 25. Gross fiscal deficit of the State Governments is financed by I. Market Borrowings II. Printing of Currency III. Loans from Government IV. 27. External Borrowings the Central Reason (R) : Policy of increased public borrowings to bridge the fiscal gap is justified. Find the correct answer from the given code : In the context of the above two statements, which one is correct from the given ? Codes : (A) I, II and III are correct. (B) Codes : II, III and IV are correct. (C) Assertion (A) : During the financial year 2011-12, the Central Government is not likely to achieve the target of raising ` 40,000 crores through disinvestment policy. I and III are correct. (A) Both (A) and (R) are correct and (R) is the correct explanation of (A). (D) II and IV are correct. (B) 26. Both (A) and (R) are correct but (R) is not the correct explanation of (A). List II (C) (A) is correct but (R) is incorrect. 1. U.K. Hicks (D) (R) is correct but (A) is incorrect. Match the items of List I with the items of List II from the given code : List I i. Canons of Taxation ii. Canons of Public Expenditure iii. Effective incidence of Tax 3. Findlay Shirras iv. Benefits received approach of Public Expenditure 28. 2. Adam Smith Arrange the following Reports in chronological order from the given codes : 4. Erik Lindahl I. II. Final Report on Rationalizing and Simplification of the Tax Structure III. Indian Tax Reforms-Report of a Survey IV. Codes : Direct taxes Enquiry Committee Final Report Taxation Enquiry Commission Codes : i ii iii iv (A) 2 3 1 4 (B) 1 2 3 4 (B) I, II, III, IV (C) 2 3 4 1 (C) III, I, IV, II (D) 4 1 2 3 (D) II, III, I, IV Paper-III (A) IV, III, II, I 8 D-01-12 25. 26. I. II. III. IV. : : (A) I, II III (B) II, III IV (C) I III (D) II IV 27. (A) : 2011-12 , ` 40,000 (R) : , ? : (R) , (R), (A) (A) (A) (B) (A) , (R) (D) 28. (R) , (R), (A) (C) I II : I II i. 1. . . ii. 2. iii. 3. iv. 4. (R) , (A) (A) : I. II. III. IV. : i ii iii iv : (A) 2 3 1 4 (A) IV, III, II, I (B) 1 2 3 4 (B) I, II, III, IV (C) 2 3 4 1 (C) III, I, IV, II (D) 4 1 2 3 (D) II, III, I, IV D-01-12 9 Paper-III 29. 30. 31. The most important characteristics of a federation is (A) Center s Supremacy over States (B) Non-correspondence between the functions and resources of the Center and State Governments. (C) Perfect match between the functions and resources of the Central and State Governments. (D) None of the above 32. According to which of the following hypotheses, consumption is irreversible ? (A) Absolute Income Hypothesis (B) Relative Income Hypothesis (C) Permanent Income Hypothesis (D) Life Cycle Hypothesis 33. Which of the following models of business cycle generates constrained cycles ? (A) Samuelson s model (B) Hick s model (C) Kaldor s model (D) All of the above In the equation C = C0 + C1 Yd, where C is planned consumption expenditure, Yd is disposable income, C0 is intercept or autonomous consumption (value of C when disposable income is zero), and C1 is marginal propensity to consume; which of the following is the endogenous variable ? (A) C0 (B) C1 (C) C1 Yd (D) None of the above 34. Which of the following is not an assumption of Harrod s model of growth ? (A) The desired capital output ratio is constant. (B) Savings are a constant proportion of real income in the economy. (C) The labour force grows at some exogenously determined constant exponential rate. (D) Factor prices are flexible in the long run. 35. Match the statements given in Group A with their propounders in Group B : Group A Group B (Statements) (Propounders) i. Velocity of money 1. Keynesians is a stable function of its determinants. ii. Velocity of 2. Monetarists money is an unstable function of its determinants. iii. Velocity of 3. Classicals money is a constant, and does not depend on income and interest rate. Choose the correct code : Codes : i ii iii (A) 2 3 1 (B) 1 2 3 (C) 2 1 3 (D) 3 2 1 D-01-12 Which of the following statement is false ? (A) In dynamic multiplier, there is lagged relationship between consumption and disposable income. (B) The dynamic multiplier process can be presented as a decreasing geometric series of change in income in the following period. (C) A major portion of the multiplier effect is realized in fewer periods when the marginal propensity to consume is smaller. (D) A major portion of the multiplier effect is realized in fewer periods when the marginal propensity to consume is larger. Paper-III 10 29. 30. ? (A) (B) (C) (D) 33. ? (A) (B) (C) (D) 34. ? (A) (B) (C) ( ) (D) 35. A B : A B ( ) ( ) 1. i. ii. 2. iii. 3. : : (A) (B) (C) (D) C = C0 + C1 Yd, , C , Yd , C0 ( Yd = 0 C ), C1 = ? 32. (A) C0 (B) (C) C1 Yd (D) 31. C1 ? (A) (B) (C) (D) D-01-12 (A) (B) (C) (D) 11 i 2 1 2 3 ii 3 2 1 2 iii 1 3 3 1 Paper-III 36. A.W. Phillips wage-inflation unemployment trade off is based on 39. During the Tenth Five Year Plan, some of the following things were experienced : I. Services sector witnessed the highest growth rate. II. Agriculture experienced the lowest growth rate. III. Rate of growth in the industrial sector was negative. Which of the aforesaid statements are correct ? (A) I, II and III are correct. (B) I and II are correct. (C) I and III are correct. (D) II and III are correct. 40. Assertion (A) : Employment growth in the organized sector (both public and private combined) has increased during the period 1994-2008. Reason (R) : There has been relatively faster employment growth in the private sector. Codes : (A) Both (A) and (R) are correct and (R) is the correct explanation of (A). (B) Both (A) and (R) are correct but (R) is not the correct explanation of (A). (C) (A) is correct but (R) is incorrect. (D) (A) is incorrect but (R) is correct. 41. According to the provisional figures for 2011 census, which of the following States has the lowest child sex ratio both in rural and urban areas ? (A) Uttar Pradesh (B) Kerala (C) Jammu and Kashmir (D) Haryana (A) Static expectations hypothesis (B) Adaptive expectations hypothesis (C) Extrapolative expectations hypothesis (D) Rational expectations hypothesis 37. Suppose the money supply and the price level are constant, and the demand for money is a function of income and interest rate. When the income level increases, there is (A) an increase in the quantity of money demanded and an increase in the rate of interest. (B) an increase in the quantity of money demanded and a decrease in the rate of interest. (C) a decrease in the quantity of money demanded and a decrease in the rate of interest. (D) a decrease in the quantity of money demanded and an increase in the rate of interest. 38. Fiscal reform measures in India included I. Increasing Tax-GDP ratio II. Expenditure Management III. Managing revenue deficit and fiscal deficit IV. Increasing economy liquidity in the Find the correct combination from the given codes : (A) I, II and III are correct. (B) I and IV are correct. (C) II, III and IV are correct. (D) III and IV are correct. Paper-III 12 D-01-12 36. ? (A) (B) (C) (D) 37. , ? (A) (B) (C) (D) 38. . . 39. 40. D-01-12 13 (A) : ( ) 1994-2008 (R) : : (A) (A) (R) , (R), (A) (B) (A) (R) , (R) (A) (C) (A) , (R) (D) (A) , (R) 41. I. - . . . II. III. IV. : (A) I, II III (B) I, IV (C) II, III IV (D) III IV : I. II. III. ? (A) I, II III (B) I II (C) I III (D) II III 2011 ? (A) (B) (C) (D) Paper-III 42. Of the following, which sector experienced maximum growth rate at 2004-05 prices in India during 2009-10 ? 46. For any pair of variables X and Y, two regression equations-one regression of Y on X and other regression of X on Y exist because I. Tangent of the angle made by two regression equations with each other determines the coefficient of correlation. II. Regression model does not help in the identification of dependent and independent variables of the equation. III. Regression and correlation coefficients represent the co-variation of the two variables. IV. Regression equation represents jointly the value of X and Y. Select the right code from the following as the answer to the question : Codes : (A) I and II are correct. (B) I and III are correct. (C) I and IV are correct. (D) III and IV are correct. 47. Which of the following are not associated with the Leontief s Static Model ? I. Final demand is a stochastic vector. II. Reciprocal of the PerronFrobinius root is the maximum growth rate. III. Input coefficients are the fixed technological parameters. (A) Trade, hotels, transport and communication (B) Manufacturing, construction, electricity, gas and water supply (C) Financing, insurance, real estate and business services (D) Agriculture, forestry, fishing, mining and quarrying 43. In which of the following years, gross domestic savings as a percentage of GDP was the highest ? (A) 2009 10 (B) 2008 09 (C) 2007 08 (D) 2006 07 44. Growth process resulting into broad based benefits and providing equality of opportunity to all is referred to as (A) Faster growth (B) Inclusive growth (C) Exclusive growth (D) Sustained growth 45. Which of the following plans witnessed the highest growth rate in India ? IV. (I A RB) 1 WL = P Select the correct code from the following : (A) I, II, III (B) I, III, IV (C) I, III (D) I, II, IV (A) Ninth Plan (B) Eighth Plan (C) Tenth Plan (D) Seventh Plan Paper-III 14 D-01-12 42. 2009-10 2004-05 ? (A) , , (B) , , , (C) , , (D) , , , 43. 46. X Y X Y Y X : I. II. III. IV. X Y : : (A) I II (B) I III (C) I IV (D) III IV . . . ? 47. ( ) ( ) ? I. ( ) II. III. / (A) 2009 10 (B) 2008 09 (C) 2007 08 (D) 2006 07 44. 45. ? (A) (B) (C) (D) ? (A) (B) (C) (D) D-01-12 IV. (I A RB) 1 WL = P : (A) I, II, III (C) 15 (B) (D) I, II, IV I, III I, III, IV Paper-III 48. If X1 = f(P1, P2) and X2 = (P1, P2), then the two substitutes if commodities 50. If rxy = 0.3, match the items in list-I with the items in list-II : List I List II i. 1 to +1 1. 0.3 ii. Correlation 2. Limits of coefficient correlation between X coefficient and Y iii. The Square of 3. 0.3 Correlation Coefficient iv. Coefficient of 4. Coefficient of correlation Determination between X and Y Codes : i ii iii iv (A) 1 2 3 4 (B) 2 3 4 1 (C) 3 1 2 4 (D) 4 1 2 3 51. Match the following from list I and list II : List I List II i. Durbin1. Stationarity Watson d Statistics 2. Qualitative ii. R2 Effects iii. Dickey3. Serial Fuller test Correlation iv. Dummy 4. Goodness Variable of fit of regression function Codes : i ii iii iv (A) 1 2 4 3 (B) 2 1 3 4 (C) 4 3 2 1 (D) 3 4 1 2 are (A) ( X1/ P2) < 0, ( X2/ P1) > 0 (B) ( X1/ P2) > 0, ( X2/ P1) < 0 (C) ( X1/ P2) > 0, ( X2/ P1) > 0 (D) ( X1/ P2) < 0, ( X2/ P1) < 0 49. In the context of simultaneous equations econometric models, consider the following statements : I. Identification is a problem to be dealt with before estimation. II. Order condition is necessary but not a sufficient condition of identification. III. Two stage least squares method of estimation gives consistent estimators if the equation is under identified. IV. Under indirect least squares method, least squares method is applied to the reduced form equations. Use the following code to answer the question : (A) I and II are correct but III and IV are incorrect. (B) I, II, III and IV are correct. (C) I, II and III are correct but IV is incorrect. (D) I, II and IV are correct but III is incorrect. Paper-III 16 D-01-12 48. X1 = f(P1, P2) X2 = (P1, P2), , 50. (A) ( X1/ P2) < 0, ( X2/ P1) > 0 (B) ( X1/ P2) > 0, ( X2/ P1) < 0 (C) ( X1/ P2) > 0, ( X2/ P1) > 0 (D) ( X1/ P2) < 0, ( X2/ P1) < 0 49. ( ) : I. II. III. IV. ? (A) I II , III IV (B) I, II, III IV (C) I, II III , IV (D) I, II IV , III D-01-12 rxy = 0.3 -I : I 1. i. 1 +1 ii. X Y 2. iii. 3. ( ) iv. X Y 4. : -II II 0.3 0.3 i iii iv (A) 1 2 3 4 (B) 2 3 4 1 (C) 3 1 2 4 (D) 51. ii 4 1 2 3 : I II i. - 1. d 2. ii. R2 iii. - 3. iv. - 4. : (A) (B) (C) (D) 17 i 1 2 4 3 ii 2 1 3 4 iii 4 3 2 1 iv 3 4 1 2 Paper-III 52. In CES production function : Q = M [ X p + (1 56. Coefficient of determination of a regression model : 1. Explains the proportion of total variation in the values of the dependent variable. 2. It can be used to derive the estimate of the extent of variation in the value of Y that is explained by the random factors. 3. Direction of inter-relation between the dependent and independent variables. 4. It explains the influence of the intercept on the dependent variable. Select the correct code from the list given below : (A) 1 2 3 4 (B) 1 2 (C) 2 4 3 (D) 4 1 57. The input coefficients/elements of which of the following matrices are interpreted as inputs required directly and indirectly per unit of final demand. (A) A (B) (I A) (C) (I A) 1 (D) All of the above 58. Total foodgrains production target for the year 2010-11 has been placed at (A) 250 million tonnes (B) 240 million tonnes (C) 244 million tonnes (D) 234 million tonnes 59. Indicate the year in which National Food Security Mission (NFSM) was launched : (A) 2001 02 (B) 2004 05 (C) 2010 11 (D) 2007 08 1 p p )X2 ] Where Q is output and X1 and X2 are labour and capital. Elasticity of substitution is given by 1 (A) p (B) p 1 (C) (1 + p) (D) M 53. 54. 55. In Linear Programming problem involving two variables, multiple optimal solutions are obtained when one of the constraints is (A) the objective function should be parallel to a constraint that forms boundary of the feasible region. (B) the objective function should be perpendicular to a constraint that forms the boundary of the feasible region. (C) neither (A) nor (B). (D) two constraints should be parallel to each other. In an open economy model of input output analysis, if A is the input coefficients matrix and (I A) is technology matrix, the following is the viability condition to be satisfied (A) | I A | 0 (B) | I A | > 0 (C) | I A | < 0 (D) All principal minors of the (I A) matrix must be positive. For the Cobb-Douglas Production function L K1 Q=A The elasticity of substitution is (A) Zero (B) Infinity (C) One (D) A Paper-III 18 D-01-12 52. : 56. 1 p p Q = M [ X p + (1 )X2 ] Q = ( ) X1 X2 : (A) p (C) 53. 54. 1 (1 + p) (B) 1 p (D) M (A) (B) (C) A B (D) , (A) 1 2 2 4 (D) 4 3 4 1 3 / ? (A) A - , A (I A) : (B) (I A) (C) (I A) 1 (D) 58. 2010-11 ? (A) 250 (B) 240 (C) 244 (D) 234 59. ( ) : : Q = A L K1 , : (A) (B) (C) (D) A D-01-12 2 (C) 57. 1 (B) (A) | I A | 0 (B) | I A | > 0 (C) | I A | < 0 (D) (I A) 55. : 1. , 2. Y 3. : 4. : : (A) 2001 02 (C) 19 (B) (D) 2007 08 2010 11 2004 05 Paper-III 60. 61. Identify sources of agricultural credit in India from the code given below : 1. Commercial Banks 2. Money Lender 3. Regional Rural Bank 4. Small Industries Development Bank of India Codes : (A) 1, 2 and 3 (B) 2, 3 and 4 (C) 3, 4 and 1 (D) 1, 2, 3 and 4 64. High powered money comprises (A) Currency held by the public + Cash reserves of banks (B) Currency held by the public + Demand and time deposits + Cash reserves of banks (C) Currency held by the public + Cash reserves of banks + Other deposits of RBI (D) Currency held by the public + other deposits of RBI 65. Low productivity for agriculture in India is attributed to (A) Poor irrigation facilities (B) Heavy dependence on monsoon (C) Absence of new technology (D) All the above Capital to risk-weighted asset ratio of all scheduled commercial banks in India under the Basel I framework is stipulated at the minimum of (A) 7% Quantum of food subsidy was highest in the year (A) 2009 10 (B) 2008 09 (C) 2004 05 (D) 2001 02 Productivity of Indian agriculture can be enhanced by 1. Increased public investment 2. Increased irrigation facilities 3. Higher support price to the farmers 4. Shifting workers from industry to agriculture Select the correct answer from the given codes : Codes : (A) 1, 2 and 4 (B) 1, 2 and 3 (C) 2, 3 and 4 (D) 3, 4 and 1 Paper-III 9% (C) 62. (B) 12% (D) 14% 66. 63. Which of the following financial institutions are operating in the money market ? 1. Non-banking financial institutions 2. Acceptance Houses 3. Central Bank 4. Stock Exchanges Select the correct answer from the given codes : Codes : (A) 2 and 3 (B) 1 and 3 (C) 1, 2 and 4 (D) 1, 2 and 3 20 D-01-12 60. : 1. 2. 3. 4. : (A) 1, 2 3 (B) 2, 3 4 (C) 3, 4 1 (D) 1, 2, 3 4 64. (A) + (B) + + (C) + + (D) + 61. (A) (B) (C) (D) 65. I ? (A) 7% 63. (A) 2009 10 (B) 2008 09 (C) 2004 05 (D) 2001 02 12% (D) 14% 66. : 1. 2. 3. 4. : : (A) 1, 2 4 (B) 1, 2 3 (C) 2, 3 4 (D) 3, 4 1 D-01-12 9% (C) 62. (B) 21 ? 1. 2. 3. 4. : : (A) 2 3 (B) 1 3 (C) 1, 2 4 (D) 1, 2 3 Paper-III 67. 69. 70. 71. 72. In dual gap model, the gap can be filled up by (A) Raising the level of saving (B) Export promotion (C) Steady rate of growth (D) Foreign aid 73. The concept of learning by doing was given by (A) J.R. Hicks (B) Kenneth Arrow (C) Joan Robinson (D) Nicholas Kaldor 74. Which of the following is broad money (M3) in India ? (A) Currency with public + demand deposits in the banks (B) Currency + demand deposits + other deposits with RBI (C) Currency + demand deposits + time deposits (D) Currency + demand deposits + time deposits + other deposits with RBI In Hicks neutral technical progress, the technical progress is (A) Capital augmenting (B) Labour augmenting (C) Both Labour and Capital augmenting (D) Change in the efficiency and productivity of labour Which of the following represents the concept of human capital ? (A) Total human resources (B) Total population (C) Human resources gainfully employed in productive activities (D) All of the above 75. 68. Assertion (A) : The capital base of regional rural banks (RRBs) is found to be weak. Reason (R) : Deposit mobilization of RRBs has been inadequate. From the above two statements, select the correct answer from the given codes. Codes : (A) Both (A) and (R) are correct and (R) is the correct explanation of (A). (B) Both (A) and (R) are correct but (R) is not the correct explanation of (A). (C) (A) is false but (R) is true. (D) (A) is true but (R) is false. Which of the following is disadvantageous to developing countries international trade ? (A) Protection (B) Free trade (C) Exports of primary and import of manufactured goods (D) None of the above Which of the following did not contribute significantly to inflationary pressure in Indian economy in 2010-11 ? (A) Food prices (B) Prices of manufactured prices (C) Fuel prices (D) Metal and mineral prices In Joan Robinson s growth model, capital accumulation depends on (A) Saving-income ratio (B) Profit-wage relation and labour productivity (C) Profit-income ratio and capital productivity (D) Saving-investment ratio Paper-III 22 D-01-12 67. 68. (A) : ( . . .) (R) : . . . : : (A) (A) (R) (R), (A) (B) (A) (R) , (R), (A) (C) (A) , (R) (D) (A) , (R) 71. 72. , : (A) (B) (C) (D) 73. (M3) ? (A) + (B) + + (C) + + (D) + + + . . . , (A) (B) (C) (D) ? . . (B) (C) (D) (A) 74. 69. 75. ? (A) - (B) - (C) - (D) - ? (A) (B) (C) (D) 2010-11 ? (A) (B) (C) (D) 70. ? (A) (B) (C) (D) D-01-12 23 Paper-III Space For Rough Work Paper-III 24 D-01-12

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Additional Info : Ugc Net December 2012 Question Paper - Economics Paper III
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