UGC NET Mock Test 9 on Economics - 20 Questions for Practice

UGC NET Mock Test 9 on Economics – 20 Questions for Practice

Take Test 9 20 questions for Practice – Economics Test 9

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1. Which of the following is true with respect to the monetary approach to the balance of payments?

a.A balance of payments deficit results from an excess supply of money in the nation.

b.All the above

c.Balance of payments disequilibrium are automatically corrected in the long run.

d.A balance of payments surplus results from an excess demand for money.

2. Grants from the Centre to the States under the recommendations of the Finance Commission are known as

a.Plan grants

b.Development assistance

c.Discretionary grants

d.Statutory grants

3. Which one of the following taxes is within the jurisdiction of the Central Government as enumerated in List I of the Seventh Schedule of the Constitution of India?

a.Taxes on the consumption and sale of electricity

b.Excise on alcoholic liquors for human consumption, opium, Indian hemp and other narcotics

c.Taxes on mineral rights subject to any limitation imposed by the Parliament

d.Taxes on sale and purchase of newspapers and on advertisements therein

4. The biggest holder of Government of India dated securities:

a.Life Insurance Corporation of India

b.Employees Provident Fund

c.Reserve Bank of India

d.Commercial Banks

5. A spot Foreign Exchange Transaction refers to

a.none of the above.

b.the sale of foreign exchange for delivery.

c.the purchase of foreign exchange for delivery.

d.the purchase or sale of foreign exchange for delivery within two business days.

6. Regarding M.F.N. (Most Favoured Nation) clause, find out the correct statement:

a.It guarantees only equal treatment.

b.The unconditional M.F.N. clause seems to be more equitable than the conditional one.

c.It guarantees special privilege to the contracting parties.

d.The conditional M.F.N. clause confers significant rights on the contracting party.

7. In case of Fixed Exchange Rate regime adjustment in Balance of Payments takes place through

a.none of the above

b.changes in interest rate

c.changes in exchange rate

d.changes in the price level

8. Food-grains in India are canalized by

a.OIL

b.ONGC

c.MMTC

d.FCI

9. Assertion (A): Yellow Revolution increased the production of seeds.
Reason (R): White Revolution increased the production of milk.

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

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

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

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

10. In whose economic theories, Malthus’ theories are in the base?

a.Adam Smith

b.Ricardo

c.Robins

d.Keynes

11. The immediate cause for the collapse of the Bretton Woods system was

a.the expectation that the U.S. would soon be forced to devalue the dollar.

b.All of the above

c.the attempt by three small European Central Banks to convert part of their dollar holdings into gold at the Fed.

d.the massive flight of liquid capital from the U.S.

12. Under a managed floating exchange rate system, the Nation’s monetary authorities intervene in Foreign Exchange Markets to

a.smooth out long-run fluctuations in exchange rates

b.smooth out short-run fluctuations in exchange rates

c.smooth out short-run and long run fluctuations in exchange rates

d.keep exchange rates fixed among a group of nations

13. ‘Apna Khet, Apna Kaam’ (i.e. own field, own work) is a new scheme under MNREGA and it was initiated in the State

a.Madhya Pradesh

b.Rajasthan

c.Punjab

d.Gujarat

14. What is the main purpose of U.N.E.P.?

a.Equal development

b.Economic development

c.Reduction in temperature

d.Sustainable development

15. There are four phases of a business cycle. Identify the correct sequence of the occurrence of these phases:

a.Recovery, Expansion, Depression, Recession

b.Depression, Expansion, Recession, Recovery

c.Recovery, Expansion, Recession, Depression

d.Recovery, Recession, Expansion, Depression

16. The Total Factor Productivity (TFP) in agriculture during the 11th plan in India

a.Remain unchanged

b.Had no specific pattern

c.Increased

d.Declined

17. ‘Price Scissors’ refer to

a.Relative price of industrial goods in terms of agricultural goods

b.Relative price of fuel and industrial goods

c.None of the above

d.Relative price of imported goods in terms of the exported goods

18. As per provisional data released by C.S.O. for Q1 of 2012-13, the GDP growth has been estimated at

a.0.051

b.0.059

c.0.055

d.0.062

19. Which of the following is related with optimum currency area?

a.All the above

b.Optimal geographical area for a single currency

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

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

20. Income elasticity of demand for food in developed countries is less than

a.zero

b.3

c.1

d.2

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UGC NET Mock Test 9 on Economics – 20 Questions for Practice

UGC NET Mock Test 9 on Economics – 20 Questions for Practice

Take Test 9 20 questions for Practice – Economics Test 9

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