UGC NET Mock Test 2 on Economics - 20 Questions for Practice

UGC NET Mock Test 2 on Economics – 20 Questions for Practice

Take Test 2 20 questions for Practice – Economics Test 2

1. The fundamental cause for the collapse of the Bretton Woods System was

a.All of the above

b.The liquidity problem

c.The confidence problem

d.The adjustment problem

2. The experience with managed exchange rates since 1973

a.Strongly supports a freely flexible exchange rate system.

b.Supports some restriction on exchange rate fluctuations.

c.Strongly supports a fixed exchange rate system.

d.Mildly supports a flexible exchange rate system.

3. Which one of the following does not come under land reforms in India?
(a) Abolition of Intermediaries and Tenancy Legislation
(b) Ceiling on Land Holding and Co-operating Farming
(c) Tenancy Legislation and Technology Upgradation
(d) Abolition of Intermediaries and Green Revolution

a.(a) and (c)

b.(a) and (d)

c.(a) and (b)

d.(a), (b), (c) and (d)

4. Find out the items which are not in the scope of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM):

a.Internal earmarking within local body budgets for basic services to the urban poor.

b.Implementation of a seven point charter for provisioning of seven basic entitlements/services.

c.Earmarking of at least 20-25percent of developed land in all housing projects for the economically weaker sections and low income groups category.

d.Provide legal and financial support to metro/mono-rail projects in urban areas.

5. An example of a Euro currency is

a.A Dollar deposit outside the U.S.

b.All of the above

c.A Mark deposit outside Germany

d.A Pound Sterling deposit outside the U.K.

6. Assertion (A): Agricultural income is taxed by the Union Government.
Reason (R): Agriculture is a State subject.

a.(A) is true, but (R) is false.

b.Both (A) and (R) are true and (R) is the correct explanation of (A).

c.Both (A) and (R) are true and (R) is not the correct explanation of (A).

d.(A) is false, but (R) is true.

7. Arrange the following in chronological order:
I. Task Force on Direct and Indirect Taxes (Kelkar Committee)
II. Replacement of State Sales Tax by Value Added Tax
III. Introduction of MODVAT
IV. Fiscal Responsibility and Budget Management Act

a.III, I, IV, II

b.III, IV, I, II

c.III, II, IV, I

d.II, III, IV, I

8. Members of the World Trade Organization are required to

a.Prevent their firms from “dumping”.

b.Eliminate all tariffs.

c.Allocate quotas on a first come first basis.

d.Enforce patent rights for patent holders from other countries.

9. Assertion (A): In India, ‘Green Revolution’ was also criticized as Wheat Revolution.
Reason (R): The productivity of wheat in India during the1970’s was one of the highest in the world.

a.Both (A) and (R) are true and(R) is the correct explanation of (A).

b.(A) is false, but (R) is true.

c.(A) is true, but (R) is false.

d.Both (A) and (R) are true, but(R) is not the correct explanation of (A).

10. Which of the following are Government of India debt obligations?
I. State Provident Funds
II. Small Savings
III. Reserve Money
IV. Reserve Funds and Deposits

a.II and IV are correct.

b.I and II are correct.

c.I, II and IV are correct.

d.I, II and III are correct.

11. Which of the following is not related with optimum currency area?

a.Single currency or the pegged currencies fluctuate jointly visà-vis other currencies.

b.Optimal geographical area for a single currency.

c.Optimal geographical area for several currencies whose exchange rates are relatively pegged.

d.Single currency do not fluctuate vis-à-vis other currencies.

12. Assertion (A): In the agricultural lending mechanism of India, moneylenders despite their usurious rates of interest are still predominant.
Reason (R): Most often the commercial banks could not meet the target of 18% of their total lending for the agricultural sector in the country.

a.(A) is true and (R) is false.

b.Both (A) and (R) are true, but (R) is not the correct explanation of (A).

c.(A) is false and (R) is true.

d.Both (A) and (R) are true and (R) is the correct explanation of (A).

13. Which of the following issues did the Uruguay Round not address?

a.Services

b.Intellectual Property Rights

c.Tariff

d.Migration

14. Which one of the following taxes is within the jurisdiction of the State Governments as enumerated in List – II of the Constitution of India?

a.Taxes other than stamp duties on transactions in stock exchange and future markets.

b.Taxes on mineral rights subject to any limitations imposed by the Parliament.

c.Taxes on Railway freights and fares.

d.Rate of stamp duty in respect of certain financial documents.

15. Which Economic Survey has introduced a new chapter on “Sustainable Development and Climate Change”?

a.Economic Survey 2007-08

b.Economic Survey 2011-12

c.Economic Survey 2004-05

d.Economic Survey 2009-10

16. Which State in India has the lowest Infant Mortality Rate?

a.Gujarat

b.Kerala

c.Maharashtra

d.Goa

17. As per the revised estimate, the plan expenditure of the budget estimate for 2012-13 in India has been lowered by

a.23.0 percent

b.15.0 percent

c.9.0 percent

d.18.0 percent

18. What has been the monthly per capita expenditure (Uniform Reference Period) for urban population of India (at 2004-05 prices) as per the 68th Round of NSSO (2011-12)?

a.Rs. 707.24

b.Rs. 1,785.81

c.Rs.1,359.75

d.Rs. 2,401.68

19. Which of the following tax is introduced in India in 1953 and abolished in 1985?

a.Agricultural Income-tax

b.Expenditure Tax

c.Gift Tax

d.Estate Duty

20. Hedging refers to

a.The acceptance of a foreign exchange risk

b.The covering of a foreign exchange risk

c.Foreign exchange arbitrage

d.Foreign exchange speculation

Also See :

UGC NET Mock Test 1 on Economics
UGC NET Mock Test 3 on Economics
UGC NET Mock Test 4 on Economics
UGC NET Mock Test 5 on Economics
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UGC NET Mock Test 2 on Economics – 20 Questions for Practice

UGC NET Mock Test 2 on Economics – 20 Questions for Practice

Take Test 2 20 questions for Practice – Economics Test 2

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