UGC-NET 2023 question paper

All 100 questions from the UGC-NET 2023 UGC NET Economics (Paper II) paper. Open any question for the worked solution.

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1. Q1Suppose good 1 is taken on the horizontal axis and good 2 on the vertical axis, then what happens to the budget line if the price of good 1 doubles…
2. Q2Suppose that a scarce resource, facing a constant demand, will be exhausted in 10 years. If an alternative resource will be available at a price of
3. Q3Which one of the following is not a characteristic of market structure?
4. Q4Which of the following is not true in the case of the second theorem of welfare economics?
5. Q5Taylor's Rule tells:
6. Q6Monetary base of an economy is:
7. Q7Given the income multiplier formula m = 1/MPS, lower the marginal propensity to save,
8. Q8In the national income identity Y = C + I + G, investment (I) is a function of:
9. Q9Which one of the following is not correct about the LM schedule?
10. Q10A merchant's file of 20 accounts contains 6 delinquent and 14 non-delinquent accounts. An auditor randomly selects 5 of these accounts for…
11. Q11A company has 140 employees, of which 30 are supervisors. 80 of the employees are married, and 20% of the married employees are supervisors. If a…
12. Q12The Hausman's specification error test is used to test whether:
13. Q13In a random walk without drift:
14. Q14Given below are alternative formulae for F-test statistics. We test the statistical significance of the incremental contribution of X3 at 5% to Y =…
15. Q15Integrate the integral of x*sqrt(x^2 + 1) dx, for x > 0.
16. Q16Find the extremum of u = x^2 + y^2 + z^2 subject to x + y + z = 1.
17. Q17The utility function of a consumer is U = f(q1, q2) = q1 * q2. Suppose the price of q1 is p1 = 1 and price of q2 is p2 = 2. The consumer wants to…
18. Q18A tariff-ridden offer curve will bend towards:
19. Q19Factor price equalization theorem is given by:
20. Q20In which of the following years did the IMF set up the Extended Fund Facility (EFF) to support members' structural reforms to address balance of…
21. Q21The book entitled 'Why Nations Fail: The Origin of Power, Prosperity and Poverty' has been written by:
22. Q22A foreign exchange swap is:
23. Q23Which of the following is a correct measure of the gross fiscal deficit of the state government?
24. Q24Which of the following is not true in the case of incidence of tax?
25. Q25When MPS is 0.25 and the initial increase in autonomous spending is Rs. 100, then the expenditure multiplier and the resultant increase in GDP…
26. Q26In the extreme case of liquidity trap:
27. Q27Which of the following can be an equation representing the money market?
28. Q28With the same monetary base, which of the following will lead to an increase in broad money?
29. Q29According to Robinson, the term 'Golden Age' in the context of the Harrod-Domar model is used to emphasize:
30. Q30Which is not a dimension of the Human Development Index (HDI)?
31. Q31The idea of creative destruction is associated with:
32. Q32Normalized Poverty Gap (NPG) is measured as a ratio of:
33. Q33Which of the following defines ambient standards in an environmental policy?
34. Q34Which of the following applies to the physical linkage approach for the valuation of environmental benefits?
35. Q35Why are subsidies not an effective policy instrument in the long-run for internalizing externalities under competitive output markets?
36. Q36According to the Sample Registration System, which of the following Indian States has the highest level of lifetime risk during 2018-2020?
37. Q37The Intensive Agriculture District Programme (IADP) was launched in the year:
38. Q38Allocation of budget for the Ministry of Agriculture and Farmers' Welfare in the Union Budget 2023-24 is:
39. Q39What is the motto of the G-20 18th meeting (India's presidency)?
40. Q40The Prevention of Money Laundering Act was enacted in the year:
41. Q41Which of the following holds for Bertrand's Duopoly model? A. The reaction curves are derived from isoprofit maps which are convex to the axes. B.…
42. Q42Which of the following is true for the Clark-Wicksteed-Walras product exhaustion theorem? A. The assumption of a homogeneous production function is…
43. Q43Properties of the expenditure function are (in the context of utility theory): A. Homogeneous of degree one in price, P. B. Strictly increasing in…
44. Q44The concepts of 'excess sensitivity' and 'excess smoothness' are explained by the following statement(s). A. 'Excess sensitivity' refers to a…
45. Q45According to Tobin's Q theory of investment, when should a firm invest? A. there is increase in the price of output. B. there is an increase in…
46. Q46Which of the following is/are true about the paradox of thrift? A. Paradox of thrift was popularized by J. M. Keynes. B. It states that personal…
47. Q47The BOP crisis of the early 1990s made India borrow from the IMF, which came on the following conditions: A. Devaluation of rupee by 22%. B. Drastic…
48. Q48The Uruguay Round of trade negotiations called for: A. the reduction of average tariffs on industrial goods. B. quotas to be replaced by tariffs. C.…
49. Q49Pillar 1 of Basel III norms focus on: A. Quality and level of capital. B. Risk Coverage. C. Containing leverage. D. Risk management and supervision.…
50. Q50Which of the following statements are correct about the trilemma in monetary policy? A. It is related to a closed economy model. B. It involves…
51. Q51Based on the NITI Aayog estimate of poverty for the year 2011-12, the states with above 30 percent rural poverty are: A. Manipur B. Bihar C. Sikkim…
52. Q52Adam Smith's contributions are: A. Division of labour. B. Notion of increasing returns. C. Notion of diminishing returns. D. Dialectical…
53. Q53The components of the services sector in Gross Value Added (GVA) are: A. Construction. B. Trade, Hotels, Transport and Communication related to…
54. Q54Gunnar Myrdal is the author of: A. Asian Drama. B. An American Dilemma. C. Theory of Economic Development. D. Principles of Political Economy. E.…
55. Q55Which of the following are correct in the case of the theory of sets? A. (AUB')n(A'UC)n(BUC') = (AnBnC)U(AUBUC). B. (AUB')n(A'UC)n(BUC') =…
56. Q56If S is a sample space and E is an event, then the probability axioms can be written as: A. P(A) >= 0. B. P(S) = 1. C. P(union of A_i) = sum of…
57. Q57Properties of sufficient estimators are: A. It may not be unbiased. B. It may be unbiased. C. It is always consistent. D. It is not always…
58. Q58Which of the following are true in case of social goods? A. Public goods are non-rival in nature. B. Efficient provision of social goods needs a…
59. Q59Which of the following are true in case of the Ramsey Rule for efficient taxation? A. Tax rate should be higher on the good that has lower price…
60. Q60Which of the following are not symptoms of multicollinearity in a regression model? A. High R^2 with few significant t ratios for coefficients. B.…
61. Q61Which of the following are recommendations of the Narasimham Committee, 1991? A. Deregulation of the interest rate structure. B. Need for greater…
62. Q62Defensive expenditure method is based on the understanding that: A. the consumer spends money to ameliorate the damaging effects of the bad. B. the…
63. Q63Which of the following constitute India's strategy to combat climate change in the backdrop of its stand at COP 26 (Glasgow)? A. phasing out of…
64. Q64Given international organisations and their headquarters, which of the following are correct combinations? A. GATT: Geneva. B. IMF: Washington DC.…
65. Q65Which of the following is/are correct about the Walrasian demand function? A. X(P, W) is homogeneous of degree zero if X(aP, aW) = X(P, W) for any…
66. Q66Match List I with List II. List I A. Cost-effectiveness B. Pollution permit trading system C. Market approach D. Command-and-control approach. List…
67. Q67Match List I with List II. List I A. Klein's rule of thumb B. Ljung-Box (LB) statistic C. KPSS D. Bai-Perron. List II I. Structural break II. Unit…
68. Q68Match List I with List II. List I A. J.M. Keynes B. Kydland-Prescott C. Baumol-Tobin D. Friedman-Schwartz. List II I. Inventory theoretic approach…
69. Q69Match List I with List II. List I A. Kuznets B. Nurkse C. Leibenstein D. Schumpeter. List II I. Innovation and Entrepreneurship II. Balanced growth…
70. Q70Match List I (States) with List II (Food grain production 2021-22, thousand tonnes). Choose the correct answer from the options given below…
71. Q71Match List I with List II (concepts of tax incidence and their descriptions). Choose the correct answer from the options given below:
72. Q72Match List I (Type of India's population growth rate) with List II (Period). List I A. Rapid High Growth B. Stagnant Population C. High growth with…
73. Q73Match List I (Policy) with List II (Year). List I A. National Forest Policy B. Marine Fishing Policy C. New Mineral Policy D. National Population…
74. Q74Match List I (sign of first and second derivatives) with List II (shape of the curve). List I A. f'(x) > 0 and f''(x) > 0 B. f'(x) > 0 and f''(x) 0.… · diagram
75. Q75Match List I with List II. List I A. Central Bank Loss Function B. Monetary Rule (MR) C. Phillips Curve (PC) D. Dynamic IS Curve. List II I. y_t = A…
76. Q76Arrange the relative weights (in percentage) assigned to the following criteria by the XIV Finance Commission in ascending order. A. Income distance…
77. Q77Arrange the following in ascending order on the basis of degree of economic integration. A. Custom Union B. Free Trade Area C. Economic Union D.…
78. Q78Arrange states in ascending order based on loans from the central government for the year 2020-21. A. Karnataka B. Madhya Pradesh C. Tamil Nadu D.…
79. Q79Arrange the following Acts in chronological order of their year of enactment, starting from the oldest. A. Foreign Exchange Regulation Act B.…
80. Q80Arrange the following in order of their year of establishment, starting from the oldest. A. The Industrial Credit and Investment Corporation of…
81. Q81Arrange the following chronologically in order of their publication, starting from the oldest. A. General Theory of Employment, Interest and Money…
82. Q82Arrange the following events of equity trading in India starting from the oldest. A. The BSE introduced screen-based trading B. Foreign…
83. Q83Sequence of steps followed in the estimation of Indirect Least Squares (ILS), starting from the beginning. A. Identification of the structural…
84. Q84As per the total revenue received by the government under the head of GST on the domestic supply of goods and services for 2021-22, arrange the…
85. Q85According to the Census 2011, arrange the states in descending order based on the literacy rate (age group 7 years and above). A. Nagaland B.…
86. Q86Given below are two statements. Assertion A: If governments do not care about protectionists' rents, they would replace all import duties with sales…
87. Q87Given below are two statements. Statement I: Friedman's theory of the demand for money is partly Keynesian and partly non-Keynesian. Statement II…
88. Q88Given below are two statements. Statement I: Under first-degree price discrimination, the monopolist sells different units of output for different…
89. Q89Given below are two statements. Statement I: The terms of trade of a nation are defined as the ratio of the cost of its export commodity to the…
90. Q90Given below are two statements. Statement I: Division of labour is the starting point of Smith's theory of economic growth. Statement II: It is…
91. Q91(Comprehension) India's fiscal policy response to the covid crisis combined increasing food and fertilizer subsidies with a reduction in taxes on…
92. Q92(Comprehension) The resilience in the union government's fiscal performance was facilitated by recovery in economic activity, buoyancy in direct…
93. Q93(Comprehension) The centre incentivized state governments through interest-free loans and enhanced borrowing ceilings to prioritize their spending…
94. Q94(Comprehension) The centre's capex increased from a long-term average of 1.7 percent of GDP (FY09 to FY20) to 2.5% of GDP in FY22 PA. The capex of…
95. Q95(Comprehension) The government boosted allocations on infrastructure-intensive sectors such as roads and highways, railways, and housing and urban…
96. Q96(Comprehension) Adjusted Net Savings (ANS) is measured as Gross National Saving minus depreciation of produced capital, depletion of subsoil assets…
97. Q97(Comprehension) ANS = Gross National Saving minus depreciation of produced capital, depletion of subsoil assets and timber, and air-pollution…
98. Q98(Comprehension) When natural-resource depletion is not used to invest in other assets, gross saving may not compensate for the depletion, giving…
99. Q99(Comprehension) It is argued that ANS is useful mainly as an indicator of unsustainability, and its estimates and conceptualization are not free…
100. Q100(Comprehension) It is argued that, if not a superior indicator of sustainability, ANS is useful to the extent that it can serve as an indicator of…