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2nd December 2014, 08:48 AM
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Join Date: Apr 2013
Re: Question Papers for NET Economics

Here I am providing you previous years question papers for NET Economics for your preparation.

1. A demand curve, which is parallel to the horizontal axis, showing quantity, has the price elasticity equal to
(A) Zero
(B) Infinity
(C) Less than one
(D) One

2. Although a monopolist can charge any price he likes, but does not charge a higher price than his equilibrium price because
(A) higher price means fall in total revenue.
(B) higher price can be charged only on that segment of firm’s demand curve which is price inelastic implying that the marginal revenue will be negative.
(C) it is inconsistent with profit maximization goal under monopoly.
(D) marginal cost will be negative over the relevant range of output.

3. Which of the following conditions specify the least cost-output combination ?
(A) PL/Pk = MRTS
(B) PL/Pk = MPL/MPk
(C) MPk/MPL = dL/dK
(D) All the above

4. Which of the following is not relevant in case of Sweezy’s oligopoly model ?
(A) A price cut by a firm is followed by the price cut by the rival firms.
(B) Price hike is not followed by the rival firms.
(C) Firms do not react to price change made by one of the firms.
(D) Firms react to all kinds of price changes made by the rival.

5. Quasi rent is the reward to a factor of production which is
(A) Economic rent in the short run but transfer earnings in the long run.
(B) Transfer earnings in the short run.
(C) Transfer earnings both in the short and long run.
(D) Economic rent both in the short and long run.

6. According to the Loanable Funds Theory, the rate of interest is a function of
(A) Investment
(B) Desire to hoard money
(C) Quantity of money
(D) All the above

7. While analyzing the marginal productivity theory of distribution, Clark gave more emphasis on.
(A) Demand for Labour
(B) Supply of Labour
(C) Both Demand as well as
Supply of Labour
(D) Profit Maximization

8. A general equilibrium is defined as a state in which all economic units maximize their respective objective functions, all prices are simultaneously in equilibrium and all markets are cleared. The statement is
(A) Correct
(B) Not correct
(C) Perfectly correct
(D) None of the above

9. According to Mundell in an optimum currency area, the achievement of internal and external balance is possible through
(A) Capital flows
(B) Inflow of funds from abroad
(C) Official development assistance
(D) The mobility of factors

10. An agreement between two countries to maintain a free trade area, a common external tariff, free mobility of capital and labour and degree of unification in government policies and monetary policy is called
(A) Common market
(B) Free trade area
(C) Economic union
(D) Customs union

11. The core principles of multi lateral trading system are :
I. Non-Discrimination
II. Reciprocity
III. Protectionism
IV. Domestic Safeguards
Select the right code from the list given below :
(A) I, II and IV are correct.
(B) II and III are correct.
(C) II, III and IV are correct.
(D) I and II are correct.

12. Assertion (A) : Many developing countries contend that labour standards constitute a barrier to free trade.
Reason (R) : Their competitive advantage in the global economy is cheap labour.
(A) Both (A) and (R) are correct but (R) is not the correct explanation of (A).
(B) Both (A) and (R) are true and (R) is the correct explanation of (A).
(C) (A) is false but (R) is true.
(D) (A) is true but (R) is false.

13. Arrange in order the WTO ministerials :
I. Geneva
II. Doha
III. Hong Kong
IV. Seattle
(A) II, IV, III, I (B) III, IV, I, II
(C) IV, II, III, I (D) I, IV, II, III

14. What does Hedging mean ?
(A) The acceptance of a foreign exchange risk.
(B) The covering of a foreign exchange risk.
(C) Foreign exchange speculation.
(D) Foreign exchange arbitrage.

15. In which terms a unit of SDR was originally denominated ?
(A) The world marked value of
U.S. Dollar
(B) The gold value equivalent of one US Dollar
(C) The Pound-Sterling
(D) The German Mark


Detailed previous years question papers NET Economics:


NET Economics Paper 1




pdf file atteched for more detail.....................
Attached Files
File Type: pdf NET Economics Paper 1.pdf (288.7 KB, 85 views)
File Type: pdf NET Economics Paper 2.pdf (276.0 KB, 91 views)


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