Classical

UGC NET December 2014 - Paper 2

1:  
In the market-oriented system, for the allocation of resources which one of the following is the most appropriate conveyor of information ?
A.

Finance Ministry

B.

Central Bank

C.

Market Price

D.

Advertisement Expenditure

 
 

Option: A

Explanation :


2:  
A company supplies 20 units of a particular product per month, at a price of Rs. 10 per unit. If price elasticity of supply is 5, how many units would the company supply at a price of Rs.15?
A.

50

B.

70

C.

40

D.

5

 
 

Option: B

Explanation :


3:  

Which characteristic is not likely to be a part of perfect competition?

A.

Absence of interdepence

B.

Deadweight loss is non-existent

C.

Strong rivalry

D.

Absence of advertisement

 
 

Option: D

Explanation :


4:  
Match the items given in List - I and List - II by considering which of the following are macroeconomic issues and which are microeconomic ones :

List – I

List - II

a. The level of government revenue

i. Microeconomic

b. The rate of inflation

ii. Macroeconomic

c. The price of  T. V. set

 

d. The amount saved last year by households

 

 

 

A.

 a   b    c    d

 ii    i     i     ii

B.

 a   b    c    d

 ii    i     ii     i

C.

 a   b    c    d

  i    ii    ii     ii

D.

 a   b    c    d

 ii    ii     i     ii

 
 

Option: D

Explanation :


5:  
In the recent years, world economy has witnessed the influence. of unconventional monetary policy ofthe U.S.A. This policy stance is known as
A.

Bank rate

B.

Taylor rule

C.

Reserve requirement

D.

Quantitative easing

 
 

Option: D

Explanation :




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