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Exam Details

ECONOMICS NOVEMBER PAPER 2 2017

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Questions 50
Duration 180 mins
Package UGC NET & SET - Previous Year Papers

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Medium 35 70%
Easy 12 24%
Hard 3 6%

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Multiple Choices 50 100%

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Sample questions from this paper

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1
2017 · Unclassified
ECONOMICS NOVEMBER PAPER 2 2017
Consider the following diagram with two parallel demand curves AB and CD:
The price elasticity of demand at:
A
points R and S is equal
B
point R is greater than that at point S
C
points R and S is infinity
D
point R is less than that at point S
2
2017 · Unclassified
ECONOMICS NOVEMBER PAPER 2 2017
In 2016, the Nobel prize in Economics was awarded for:
A
analysis of trade pattern and location of economic activity
B
analysis of asset prices
C
analysis of globalization
D
contributions to contract theory
3
2017 · Unclassified
ECONOMICS NOVEMBER PAPER 2 2017
Which of the following is not true for perfect competition?
A
Price = LAC
B
Market demand curve for a commodity is horizontal to X-axis
C
In the long run firms operate at the minimum point of average cost
D
Firms earn normal profits
4
2017 · Unclassified
ECONOMICS NOVEMBER PAPER 2 2017
Which amongst the following statements is correct?
A
The minimum point of AVC and MC are at the same level of output
B
Minimum of AVC is at lesser output than the minimum of MC
C
Minimum of AVC is at larger output than the minimum of MC
D
Any of the above is possible depending upon operating of the law of returns
5
2017 · Unclassified
ECONOMICS NOVEMBER PAPER 2 2017
A firm in monopolistic competition advertises in order to:
A
make its product more similar to its competitors’
B
shift the demand curve for its product to the left
C
make the demand for its product less price elastic
D
reduce the industry’s price
6
2017 · Unclassified
ECONOMICS NOVEMBER PAPER 2 2017
For an increase in the effective minimum wage to have less of an impact on employment, which of the following is correct?
a. The demand for labour is relatively inelastic
b. The demand for labour is relatively elastic
c. The demand for labour is a derived demand
Choose the correct answer from the code given below:
A
a only
B
c only
C
a and b
D
a and c