NET Economics Exam Question Paper

Will you please provide the Question Paper of the NET Economics Exam ?

[Arun Vats]

Here I am providing the list of few questions of NET Economics Exam Question Paper which you are looking for .

1. Under Cournot Model of Duopoly,
each duopolist will produce
(A) half the output
(B) one-fourth of the output
(C) one-sixth of the output
(D) one-third of the total output
2. As long as the substitution effect
dominates the income effect, the
labour supply curve is
(A) negatively sloped
(B) positively sloped
(C) bend backward
(D) shifting towards left
3. The distinguishing characteristics of
monopolistic competition are
I. Product differentiation
II. Non-price competition
III. Large number of firms and
freedom to entry and exit
IV. Firms are interdependent
Codes :
(A) I & III are correct.
(B) I, II and IV are correct.
(C) I, II and III are correct.
(D) I, III and IV are correct.
4. Assertion (A) : Monopoly is Pareto
inefficient.
Reason (R) : It would be possible to
change the allocation of
resources to make the amount
of income he would be
prepared to pay in exchange of
the reduction in price.
Codes :
(A) Both (A) and (R) are correct
and (R) is the correct
explanation of (A).
(B) (A) is correct, but (R) is not
correct.
(C) Both (A) and (R) are correct,
but (R) is incorrect explanation
of (A).
(D) (R) is correct, but (A) is
incorrect.
5. If MPL/MPK does not change with
any proportionate change in labour
and capital then the production
function is
(A) Linear
(B) Non-linear
(C) Homogeneous
(D) Homothetic
6. Match the items in the List – I with
items in List – II. Select the correct
answer from the code given below :
List – I List – II
I. Agency
Theory of
Firm
1. O.E. Williamson
II. Xinefficiency
2. M.C. Jensen and
W.J. Meckling
III. The Utility
Maximisation
Model
3. Wilfredo Pareto
IV. Edgeworth
box diagram
first used by
4. Harvey
Leibenstein
Codes :
I II III IV
(A) 3 2 1 4
(B) 2 4 1 3
(C) 2 3 4 1
(D) 3 4 1 2
7. At the point of tangency between
short- run average total cost and long- run average cost, the short-run
marginal cost
(A) greater than long-run marginal
cost
(B) less than long-run marginal
cost
(C) is far above long-run marginal
cost
(D) equals long-run marginal cost

8. The equilibrium in a market is
incomplete with increasing returns to
scale only in the case of
(A) imperfectly competitive market
(B) monopolistic market
(C) perfectly competitive market
(D) none of the above
9. If 1 = Involuntary unemployment;
2 = Disguised unemployment;
3 = Frictional unemployment; and
4 = Structural unemployment, then
full employment is consistent with
(A) 1 & 2 (B) 2 & 3
(C) 3 & 4 (D) 1 & 4
10. In Keynes’ equation of absolute
income hypothesis, C = α0 + by,
where C = Consumption expenditure;
α0 = Consumption expenditure when
income (y) is zero; and b = Marginal
Propensity to Consume (MPC), then
which of the following statements is
false ?
(A) MPC is independent of the
level of income.
(B) MPC is dependent on the level
of income.
(C) APC falls as income rises.
(D) APC > MPC.
11. Which of the following statements is
false ?
(A) The balanced budget multiplier
is unity when taxes are lump
sum taxes.
(B) The balanced budget multiplier
is less than unity when taxes
are ad valorem taxes.
(C) Tax multiplier is less than
government expenditure
multiplier.
(D) Tax multiplier is more than
government expenditure
multiplier.
12. Match the theory/criterion of
investment determination as given
below in List – II with their
propounders given below in List – I :
List – I List – II
I. Dale
Jorgenson
a. Q-Theory
II. J.M. Keynes b. Neo-classical
Theory
III. James Cohin c. Accelerator
Theory
IV. James Clark d. Present Value
Criterion
Codes :
I II III IV
(A) a d b c
(B) b d a c
(C) c d a b
(D) c a d b
13. Assertion (A) : In liquidity trap, the
demand for money is perfectly
interest elastic.
Reason (R) : Because in this
situation, all the investors
expect the market rate of
interest to rise towards the
natural rate of interest.
Codes :
(A) (A) and (R) both are correct
and (R) is the correct
explanation of (A).
(B) (A) and (R) both are correct,
but (R) is not the correct
explanation of (A).
(C) (A) is correct, but (R) is
incorrect.
(D) Both (A) and (R) are incorrect.
14. The rate of net investment spending
per time period depends on steepness
of the downword slope of
(A) Marginal efficiency of
Investment Schedule
(B) Marginal efficiency of Capital
Schedule
(C) LM-Schedule
(D) IS-Schedule

15. Which of the following is not
specifically mentioned as a
determinant of the demand for
money ?
(A) Wealth
(B) Nominal yield on alternative
assets
(C) Inflation rate
(D) Real rate of interest
16. Whose model of the following
economists makes use of the stock
adjustment principle to explain
business cycles ?
(A) N. Kaldor
(B) J.R. Hicks
(C) P. Samuelson
(D) J.M. Keynes
17. The concept of vicious circle of
poverty is associated with
(A) J.M. Keynes
(B) Ragner Nurkse
(C) Karl Marx
(D) J.S. Mill
18. Inverted ‘U’ shaped income
distribution hypothesis is associated
with
(A) J.B. Clark
(B) David Ricardo
(C) Simon Kuznets
(D) Adam Smith
19. Components of HDI are
I. Longevity
II. Infant mortality
III. Educational attainment
IV. Decent standard of living
Codes :
(A) I, II and III are correct.
(B) II, III and IV are correct.
(C) II, I, and IV are correct.
(D) I, III and IV are correct.
20. Arrange the proponents of classical
theory of development in a sequential
order :
I. David Ricardo
II. Adam Smith
III. J.S. Mill
IV. Robert Malthus
Codes :
(A) II IV III I
(B) IV III I II
(C) III II IV I
(D) I II III IV
21. Assertion (A) : In Marxian scheme
of things, M → C → M', where
M' > M and M' – M is surplus
value.
Reason (R) : The main cause of this
surplus value is raw materials,
machines, etc.
Codes :
(A) (A) is wrong but (R) is correct.
(B) (A) is correct but (R) is wrong.
(C) Both (A) and (R) are correct.
(D) Both (A) and (R) are wrong.
22. Match the items in the List – I with
items in List – II :
List – I List – II
I. Structural view of
Underdevelopment
1. Classical
Economists
II. Laissez-faire Policy 2. Hollis
Chenery
III. Departmental
Scheme of
Expanded
Reproduction
3. Steady State
Growth
IV. Golden Age of
Accumulation
4. Karl Marx
Codes :
I II III IV
(A) 2 1 4 3
(B) 4 2 3 1
(C) 1 4 2 3
(D) 3 4 1 2

23. Match the items in the List – I with
items in List – II :
List – I List – II
I. Critical Minimum
Effort Thesis
1. R.F. Kahn
II. Knife-edge
Equilibrium
2. Rosentein-
Rodan
III. Bastard Golden
Age
3. Leibenstein
IV. Big Push Theory 4. Harrod
Codes :
I II III IV
(A) 3 4 1 2
(B) 1 3 4 2
(C) 2 1 3 4
(D) 4 2 1 3
24. Which years in India have been the
best and the worst in terms of growth
rate of national income ?
(A) 2007-08 and 1997-98
(B) 2006-07 and 1966-67
(C) 1988-89 and 1979-80
(D) 2003-04 and 1957-58
25. Rank the States in ascending order of
the crude birth rate in the recent
years :
I. Andhra Pradesh
II. Karnataka
III. Madhya Pradesh
IV. Uttar Pradesh
Codes :
(A) I, II, III, IV
(B) II, III, I, IV
(C) I, II, IV, III
(D) II, I, IV, III
26. Which five year plan of India has
recorded the largest gap in terms of
growth rate between the services
sector and the industrial sector ?
(A) Seventh Plan
(B) Eighth Plan
(C) Ninth Plan
(D) Tenth Plan
27. Provide the correct answer about the
desired growth target of the
manufacturing sector in the medium
term as per the National
Manufacturing Policy of India.
(A) 6 – 8 percent
(B) 8 – 10 percent
(C) 10 – 12 percent
(D) 12 – 14 percent
28. Which of the following countries
have better Human Development
Index (HDI) as per the HDR 2011 ?
I. Sri Lanka
II. Pakistan
III. Kenya
IV. Egypt
Codes :
(A) Sri Lanka and Egypt
(B) Sri Lanka and Kenya
(C) Pakistan and Sri Lanka
(D) Pakistan and Kenya
29. What was the amount of outlay under
MGNREGA in 2011-12 by the
Government of India ?
(A) ` 25,000 crore
(B) ` 30,000 crore
(C) ` 40,000 crore
(D) ` 55,000 crore
30. Provide correct answer about the
share of India in the world
merchandize exports in 2010 :
(A) 0.5 percent
(B) 0.9 percent
(C) 1.1 percent
(D) 1.5 percent
31. If the cost of transporting a goods
between two nations exceeds the
pretrade difference for the goods
between two nations, then trade in
that goods is
(A) possible (B) impossible
(C) reversal (D) cannot say

32. According to the Rybczynski
theorem, the growth of only one
factor at constant relative commodity
prices, leads to an absolute expansion
in the output of
(A) both commodities
(B) the commodity using the
growing factor intensively
(C) the commodity using the nongrowing
factor intensively
(D) any of the above
33. The exchange rate is kept the same in
all parts of the market by
(A) exchange arbitrage
(B) interest arbitrage
(C) hedging
(D) speculation
34. Which are relevant conditions
assumed by the factor price
equalization theorem ?
I. The countries are characterised
by different factor endowments.
II. The countries are characterised
by different production
functions.
III. The industries are characterised
by different factor intensities.
IV. Each country will export the
commodity which uses its
abundant factor relatively
intensively.
Codes :
(A) I, II, III, IV
(B) I, III, IV
(C) I, II, IV
(D) I, III, II
35. Which of the following is true with
respect to the monetary approach to
the balance of payments ?
(A) It views the balance of
payments as an essentially
monetary phenomenon.
(B) A balance of payments deficit
results from an excess demand
of money in the nation.
(C) A balance of payments surplus
results from an excess supply
of money.
(D) Balance of payments
disequilibrium are not
automatically corrected in the
long run.
36. When a nation imposes an import
tariff, the nation’s offer curve will
(A) shift away from the axis
measuring its export
commodity.
(B) shift away from the axis
measuring its import commodity.
(C) not shift.
(D) any of the above is possible.
37. If the international terms of trade
settle at a level that is between each
country’s opportunity cost then
(A) there is no basis for gainful
trade for either country.
(B) both countries gain from trade.
(C) only one country gains from
trade.
(D) one country gains and the other
country loses from trade.

38. Arrange the following in
chronological order :
I. The Indirect Tax Enquiry
Committee (Jha Committee)
II. Tax Reforms Committee
(Chelliah Committee)
III. Taxation Enquiry Commission
(Matthur Commission)
IV. The Direct Tax Enquiry
Committee (Wanchoo Committee)
Codes :
(A) III, II, IV, I
(B) III, I, IV, II
(C) II, III, I, IV
(D) III, IV, I, II
39. Which of the following are relevant
in Zero Base Budgeting ?
I. Each item of expenditure is
challenged in pre-budget
review.
II. No minimum level of
expenditure is allowed to be
taken as given.
III. Expenditure of each item is
increased marginally.
IV. Most item of expenditure is
taken for granted when budget
is prepared for the next year.
Codes :
(A) I and III are correct.
(B) I, II and IV are correct.
(C) I and II are correct.
(D) I, III and IV are correct.
40. Match the items given in List – I with
those in List – II :
List – I List – II
I. Optimal
Income
Taxation
1. Charles Tiebout
II. An Economic
Theory of
Politics
2. Peter A. Phyrr
III. Local Public
Goods
3. F. Ramsey
IV. Zero Base
Budgeting
4. Anthony Downs
Codes :
I II III IV
(A) 3 1 4 2
(B) 2 3 1 4
(C) 3 2 1 4
(D) 3 4 1 2
41. Which of the following is tantamount
to absence of taxation ?
(A) Shifting of the tax
(B) Tax transformation
(C) Evasion of tax
(D) Tax capitalisation
42. Which of the following tax is within
the jurisdiction of States as
enumerated in List – II of the
Schedule VII of the Constitution of
India ?
(A) Taxes on Railway freights and
fares.
(B) Taxes on sale and purchase of
newspapers and on
advertisement therein.
(C) Rate of stamp duty in respect
of certain financial documents.
(D) Taxes on luxuries, including
entertainments, betting and
gambling.

43. Cohin Clark has argued that for most
countries of the world, the safe upper
limit of taxation is
(A) 40 percent of national income
(B) 30 percent of national income
(C) 25 percent of national income
(D) 20 percent of national income
44. Which of the following tax can be
shifted easily ?
(A) Lump-sum tax imposed on the
monopolist
(B) Tax imposed on residential
house
(C) Capital goods meant for sale
(D) Succession duty
45. In a binomial distribution, the sum of
mean and variance is 15 and the
product of mean and variance is 54,
then the number of observations (n)
is equal to
(A) 27 (B) 30
(C) 24 (D) 33
46. If ‘r’ is the correlation coefficient and
byx and bxy are the regression
coefficients of the regression lines y
on x and x on y respectively, then r =
(A) bxy × byx
(B) bxy / byx
(C) 1 – bxy byx
(D) bxy byx
47. χ2 (chi-square) test is used to test
(A) analysis of variance
(B) association between the
qualitative variables
(C) difference between means of
two distributions drawn from
the same population.
(D) difference between the means
of two distributions drawn
from different population.
48. Random sampling implies that
(A) the observations are selected
purposively.
(B) the observations are selected in
a systemic manner.
(C) the observations are selected in
an adhoc manner.
(D) the observations are selected in
clusters.
49. Given the following information,
match the item in List – I with
List – II :
List – I List – II
I. Coefficient of
Variation
1. μ4/σ4
II. Coefficient of
Correlation
2. μ3/σ3
III. Coefficient of
Skewness
3. σ/ –x
IV. Coefficient of
Kurtosis
4. ∑xy / σx σy
Codes :
I II III IV
(A) 1 2 3 4
(B) 3 2 4 1
(C) 3 4 2 1
(D) 3 4 1 2
50. Assertion (A) : Fisher’s index is an
ideal index.
Reasoning (R) : Fisher’s index
satisfies Time Reversal and
Factor Reversal Tests.
Codes :
(A) Both (A) and (R) are true and
(R) is correct explanation of
(A).
(B) Both (A) and (R) are true, but
(R) is not correct explanation
of (A).
(C) (A) is true, but (R) is false.
(D) (A) is false, but (R) is true.

Questions , here is the attachment

Hey, I requires the sample paper of UGC NET Economics Exam will you provide me sample paper of the UGC NET Economics Exam?

[Arun Vats]

As you want I am here providing you sample paper of the UGC NET Economics Exam

Sample paper :

1. Who distinguished between value in
use and value in exchange and gave
the famous example of diamonds and
water ?
(A) Adam Smith
(B) David Ricardo
(C) Alfred Marshall
(D) Karl Marx


3. When income effect becomes
stronger than substitution effect, the
labour supply curve will
(A) Slope positively
(B) Negatively sloped
(C) Bend backward
(D) Slope upwards


4. Assertion (A) : The concept of
supply curve is meaningless for
the monopolist.
Reason (R) : Monopolists are price
setters; it does not make reuse
to ask what output they will
produce at various prices.
Codes :
(A) Both (A) and (R) are correct
and (R) is the correct
explanation of (A).
(B) (A) is correct, but (R) is not
correct.
(C) Both (A) and (R) are correct,
but (R) is not the correct
explanation of (A).
(D) (R) is correct, but (A) is
Incorrect


5. Predatory pricing policy is designed
to
(A) drive competitors out of
business
(B) maximise profits
(C) encourage entrants into the
market
(D) attain least cost output



7. An industry whose long run supply
curve is horizontal is called
(A) Constant cost industry
(B) Increasing Cost Industry
(C) Decreasing Cost Industry
(D) Efficient Industry
8. The practice of charging each
consumer the reservation price is
called
(A) Peak load pricing
(B) Inter-temporal price
discrimination
(C) First degree price discrimination
(D) Third degree price discrimination
9. Frictional unemployment is also
known as
(A) Disguised unemployment
(B) Turnover unemployment
(C) Cyclical unemployment
(D) Structural unemployment
10. Arrange in ascending chronological
order the following consumption
hypotheses in which they appeared in
the economics literature :
(1) Absolute increase hypothesis
(2) Permanent increase hypothesis
(3) Life cycle hypothesis
(4) Relative increase hypothesis
Codes :
(A) 1, 3, 4, 2 (B) 1, 2, 4, 3
(C) 1, 4, 3, 2 (D) 1, 3, 2, 4
11. Assume a model of income
determination of the following type :
C = a + b • Yd
Yd = Y – T
T = T0 + t1 • Y
I =
–I
G =
–G
Y = C + I + G
Where C = Consumption
expenditure; Y = income;
Yd = disposable income; T = taxes;
T0 = Tan, when Y = 0; t1 = marginal
tax rate; I = investment expenditure;
G = Government expenditure; and
bar ‘–’ as the variable indicates that
these autonomous variables. Then the
tax multiples with respect to T0 is :
(A)
1
1 – b + bt1
(B)
– b
1 – b + bt1
(C)
1 – b
1 – b – bt1
(D)
1
1 – b – bt1
12. Which of the following components
of aggregate demand is selfterminating
and self-financing ?
(A) Investment expenditure
(B) Durable consumption
expenditure
(C) Non-durable consumption
expenditure
(D) Government expenditure
13. Arrange all the four concepts of
money supply M1, M2, M3 and M4 in
the ascending order in terms of their
liquidity :
(A) M3, M2, M1 andü M4
(B) M1, M2, M3 and M4
(C) M4, M2, M3 and M1
(D) M4, M3, M2 and M1
14. Who amongst the following
economists imparted money demand
of a portfolio theory approach ?
(1) J.M. Keynes
(2) Baumol
(3) James Tobin
(4) Milton Friedman
Codes :
(A) 1, 2 (B) 3, 4
(C) 1, 2, 3 (D) 2, 3, 4
15. Which of the following is not a
characteristic feature of the Phillips
curve ?
(A) The Price expectations are
adaptive
(B) The unemployment rate, when
money wage stabilises, is 5½
percent
(C) The price expectations are static
(D) there is a loop around Phillips
curve
16. The crowding out effect is zero when
(A) there is liquidity trap, or
investment is perfectly interest
inelastic
(B) money demand is perfectly
interest inelastic, or investment
is perfectly interest elastic
(C) IS curve is falling and LM
curve is rising
(D) None of the above
17. Meeting the needs of present
generation without compromising the
needs of future generation is
(A) Economic Development
(B) Social Development
(C) Sustainable Development
(D) Economic Growth
18. The full capacity growth rate in
Harrod-Domar Model is also known as
(A) Actual growth rate
(B) Warranted growth rate
(C) Natural growth rate
(D) Expected growth rate
19. Inventors of HDI are
I. Harris-Todaro
II. Megnad Desai
III. Robert Solow
IV. Amartya Sen
Codes :
(A) I and II are correct.
(B) I and III are correct.
(C) III and IV are correct.
(D) II and IV are correct.
20. Components of PQLI
I. Morbidity
II. Infant mortality
III. Life expectancy at age one
IV. Basic literacy at age 15
Codes :
(A) I, III and IV are correct.
(B) III, II and IV are correct.
(C) I, II and III are correct.
(D) IV, I and II are correct.
21. Assertion (A) : All historical events
are the results of continuous
economic struggle between
different classes and groups in
society.
Reason (R) : The main cause of this
struggle is the conflict between
the ‘mode of production’ and
the ‘relations of production’.
Codes :
(A) (A) is correct, but (R) is wrong.
(B) (A) is wrong, but (R) is correct.
(C) Both (A) and (R) are wrong.
(D) Both (A) and (R) are correct.
22. Match the items given in List – I with
those in List – II :
List – I List – II
a. Swarm-likeclusters
1. Brundtland
Report
b. Organic
composition
of capital
2. Ragner
Nurkse
c. Sustainable
Development
3. Schumpeter
d. Vicious circle
of poverty
4. Karl Marx
Codes :
a b c d
(A) 4 2 3 1
(B) 3 4 1 2
(C) 1 3 2 4
(D) 2 1 4 3
23. Match the items given in List – I with
those in List – II :
List – I List - II
a. Low level
equilibrium trap
1. Simon
Kuznets
b. Inverted ‘V’ shaped
income distribution
hypothesis
2. Nelson
c. Endogenous growth
theory
3. Arthur
Lewis
d. Unlimited supplies
of labour
4. Robert
Solow
Codes :
a b c d
(A) 2 1 4 3
(B) 3 2 1 4
(C) 4 3 2 1
(D) 1 4 3 2
24. Which of the following is correct
about the ‘Hindu Growth Rate’ ?
(A) This is about economic growth
of the Hindu population.
(B) Shows economic disparities
among different social groups
in India.
(C) Reflects low growth
performance of the Indian
economy during 1950-80.
(D) Hints at accelerated growth in
India since 1980
25. Find out the incorrect statement
about the success of economic
reforms in India.
(A) Benefits of demographic
dividends
(B) Increased share of the
corporate sector in Gross
Domestic Savings
(C) Narrowing down of the current
account deficit
(D) Slow down of population
growth rate
26. Single out the activity that is not
included in the Industrial Production
Index of India :
(A) Manufacturing
(B) Construction
(C) Mining
(D) Electricity
27. High growth of which industry
provides a positive signal for
industrial growth in future ?
(A) Capital goods industries
(B) Basic goods industries
(C) Durable consumer goods industries
(D) Intermediate goods industries
28. Identify the method not being used
for unemployment estimation by the
NSSO in India.
(A) Current monthly status
(B) Current daily status
(C) Current weekly status
(D) Usual principal and subsidiary
Status
29. The process of budget making after
reevaluating every item of
expenditure in every financial year is
known as
(A) Performance Budgeting
(B) Fresh Budgeting
(C) Debit Budgeting
(D) Zero Based Budgeting
30. Rank the states in terms of ascending
Human Development Index (HDI) as
per India Human Development
Report 2011 :
I. Bihar
II. Gujarat
III. Odisha
IV. Tamil Nadu
Codes :
(A) I, II, III, IV (B) III, I, II, IV
(C) I, III, IV, II (D) III, II, I, IV
31. A difference in relative commodity
prices between two nations can be
based upon a difference in
(A) factor endowment
(B) technology
(C) tastes
(D) All of the above
32. Which type of trade is not explained
by the Heckscher-Ohlin model ?
(A) Trade based on economies of
scale
(B) Intra industry trade
(C) Trade based on imitation gaps
and product cycles
(D) All of the above
33. An example of a Euro currency is
(A) a dollar deposit outside the
U.S.
(B) a pound sterling deposit within
UK
(C) a mark deposit with Germany
(D) All of the above
34. A deficit or surplus in the India’s
balance of payments is measured by
the net balance of
(A) the current account
(B) the capital account
(C) allocation of SDRs and the
statistical discrepancy
(D) All of the above
35. If the demand of the domestic
consumers is infinitely elastic and the
supply of the foreign producer is
perfectly inelastic, then the whole of
the tariff will
(A) be paid by the domestic
consumers
(B) be paid by the foreign producer
(C) be equally shared by the
domestic consumers and the
foreign producer
(D) yield neither revenue nor
protection to either of them
36. The RBI made Indian Rupee fully
convertible in current account
transactions related to goods and
services in the year
(A) 1985 (B) 2002
(C) 1994 (D) 2011
37. According to the monetary approach,
a revaluation of a nation’s currency
(A) increases the nation’s demand
for money
(B) increases the nation’s supply of
money
(C) reduces the nation’s demand
for money
(D) reduces the nation’s supply of
money
38. Arrange the following in
chronological order :
I. Sarkar Award
II. Niemeyer Award
III. Deshmukh Award
IV. Meston Award
Codes :
(A) II, IV, III, I (B) IV, III, II, I
(C) III, II, IV, I (D) IV, II, I, III
39. In which of the following, Zero
Based Budgeting is difficult to
introduce ?
I. Establishment charges
II. Public works
III. Irrigation Projects
IV. Federal fiscal transfers
Codes :
(A) I, III and IV are correct.
(B) II, III and IV are correct.
(C) I and IV are correct.
(D) II and III are correct.
40. Match the items given in List – I with
those in List – II :
List – I List – II
a. Theory of
Clubs
1. Anthony
Downs
b. Impossibility
theorem
2. Charles
Tiebout
c. Political of
Decision
Making
Model
3. James
Buchanan
d. Optimum
provision of
local public
goods
4. Kenneth
Arrow
Codes :
a b c d
(A) 3 1 2 4
(B) 3 4 2 1
(C) 2 3 4 1
(D) 3 4 1 2
41. Which of the following tax has
‘announcement effect’ ?
(A) Income tax
(B) Property tax
(C) Excise Duties
(D) Capital gains taxation
42. Which of the following tax is within
the jurisdiction of Union or Central
Government as enumerated in
List – I of Schedule VII of the India
Constitution ?
(A) Taxes on the consumption and
sale of electricity.
(B) Taxes on goods and passengers
carried by road.
(C) Taxes on luxuries, including
entertainments.
(D) Taxes on Sales and purchase of
newspapers and on
advertisement therein.
43. A tax imposed on a commodity
according to its weight, size or
measurement is called
(A) Advalorem tax
(B) Specific tax
(C) Single tax
(D) Double taxation
44. Which of the following is
Musgrave’s views on incidence of
taxation ?
(A) Settlement of tax on ultimate
tax payer.
(B) Formal and effective incidence
of taxation.
(C) Changes in the distribution of
income for private use arising
from changes in budget policy.
(D) The final direct money burden
of a tax.
45. Given arithmetic mean = 45,
mode = 48, then median =
(A) 46
(B) 45
(C) 48
(D) 49
46. If two events A and B are mutually
inclusive, then P(A or B) is
(A) P(A) + P(B) – P(AB)
(B) P(A) + P(B) + P(AB)
(C) P(A) + P(B)
(D) P(A) P(B)
47. The analysis of variance is carried
out by using
(A) t-test
(B) Z-test
(C) 2-test
(D) F-test
48. Systematic sampling implies that the
first item is selected randomly and
(A) the other items are selected by
lottery method
(B) the other items are selected
purposively
(C) then every kth item is selected
(D) the other items are selected at
the will of the investigator
49. Given the following information
match the item in List – I with
List – II :
List – I List – II
a. Rejecting H0, if it
is true
1. error
b. Accepting H0, if it
is false
2. Standard
error
c. Probability of
rejecting H0, when
it is false
3. error
d. Measuring
sampling
variability due to
random force
4. 1 – 
error
Codes :
a b c d
(A) 3 1 2 4
(B) 2 1 4 3
(C) 2 4 1 3
(D) 3 1 4 2
50. Assertion (A) : Geometric mean is
theoretically considered as the
best average to construct index
numbers.
Reason (R) : Geometric mean is
used if the range of
observations is extremely large.
Codes :
(A) Both (A) and (R) are true and
(R) is the correct explanation of
(A).
(B) Both (A) and (R) are true, but
(R) is not the correct
explanation of (A).
(C) (A) is true, but (R) is false.
(D) (A) is false, but (R) is true.