UGC NET Mock Test 15 on Economics – 20 Questions for Practice

1. Which of the following is not a specialized sub market of the money market?

2. When current income includes negative transitory component, relating consumption with current income will produce

3. Which one of the following States had the highest number of Regional Rural Branches (RRBs) in 2010?

4. Under the revised Index of Industrial Production (IIP) series, with 2004-05 as the base, the total number of items covered has increased from 538 to

5. Which of the following is not a feature of the A.W. Phillip’s inflation unemployment trade-off relation ?

6. Liquidity trap is a situation when

7. According to the monetarists, money supply constitutes

8. Assertion (A) : Non-collusive model of Chamberlin asserts that a stable equilibrium can be reached if each firm charges Monopoly price and equally shares the market demand for its products.
Reason (R) : Reasoning is that the firms recognize mutual interdependence in terms of action and reaction with regard to price decision with the objective of profit maximization which will be realized if prices are determined at a level which equals marginal cost.

9. In Harrod’s model of economic growth, if warranted rate is below the natural rate of growth, then it is possible to maintain steady state growth at the warranted rate with

10. Since March 2010, how many times the Reserve Bank of India has increased the repo rate?

11. Which of the Five Year Plans has laid emphasis on ‘faster, sustainable and inclusive growth’?

12. Which one of the following States had the highest per capita income in 2009-10?

13. Tobin’s q-theory of investment indicates that firms add to their stock of capital when

14. A major financial inclusion initiative named ‘Swabhiman’ was formally launched on _____

15. The revealed preference approach to the derivation of indifference curve

16. Which of the following statements does not hold true in case of Keynesian Economics ?

17. Which of the following Committees has been set up in India for identification of BPL families in urban areas?

18. In the context of the Mundell- Fleming model of open economy, consider the following variables that shift the IS function.
1. a rise in the exchange rate
2. an increase in foreign income
3. a cut in taxes
4. a fall in the exchange rate
Which of the following combinations of these factors shift the IS function upwards towards the right?

19. Suppose there is full employment and a vertical aggregate supply schedule. An increase in the nominal money supply ____

20. Growth of Indian agriculture has slowed down since the adoption of a new economic policy due to
1. low increase in crop yield
2. low or no public investment
3. stagnant green revolution technology
4. low retail market prices of agricultural produce
Answer this question by selecting the correct combination of codes from the options given below :