UGC NET Mock Test 13 on Economics – 20 Questions for Practice

1. Given below are the various combinations giving the steps of industrial development. Select the correct sequential combination of steps.

2. The act of simultaneously buying a currency in one market and selling in another market is called

3. Under the post 1991 economic policies, the Government of India supports

4. Given the total cost function C = 7Q2 + 26Q + 5, MC at Q = Rs. 5 is

5. Correlation coefficient between X and Y is 0.3 and correlation coefficient between P and Q is 0.6, then the strength of correlation between P and Q is higher than that between X and Y by

6. In the presence of Heteroscedasticity, which of the following is not a correct statement?

7. The maximum rate of tariff that India can levy on edible oil under the WTO Agreement on Agriculture is

8. Full employment and balance of payments equilibrium will be automatically achieved in an optimum currency area

9. The terms of Trade of the developing countries are unfavourable due to the fact that whenever income in developed countries increases, the demand for primary goods reduces because

10. Which of the following is the condition(s) of economic viability and technological feasibility of Leontief’s static model?

11. Which are the two gaps affecting growth process of an economic system in the two gap model of growth?

12. In Harrod’s growth model, neutral technical progress implies technical progress as

13. Assertion (A) : The new endogenous growth theory examines production function that shows increasing returns.
Reason (R) : Because of specialization and investment in knowledge capital.

14. The ‘Golden Age’ model was developed by

15. WTO Agreement on Agriculture consists of
I. Domestic support
II. Export subsidies
III. Market access
IV. Input subsidies

16. Which of the following hypotheses are tested by a regression function?

17. Examples of economic integration
I. Free trade area
II. Customs union
III. Common market
IV. Cartel

18. All internationally traded services are covered under which of the following WTO agreements?

19. Arrange the order of WTO ministerial
I. Seattle
II. Cancun
III. Singapore
IV. Doha

20. The Bretton – Woods system