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Exam Details

ECONOMICS NOVEMBER PAPER 3 2017

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Questions 75
Duration 180 mins
Package UGC NET & SET - Previous Year Papers

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Difficulty distribution

Medium 47 62.7%
Easy 17 22.7%
Hard 11 14.7%

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Multiple Choices 75 100%

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Sample questions from this paper

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1
2017 · Unclassified
ECONOMICS NOVEMBER PAPER 3 2017
Consider the following diagram showing the market demand and supply curves for a commodity. If the government fixes the price P1 above the market clearing price P0, then the dead-weight loss is represented by:
A
Area of triangle ABE
B
Area of triangle EBC
C
Area of triangle ABE + area of triangle EBC
D
Area of rectangle P1A B P0
2
2017 · Unclassified
ECONOMICS NOVEMBER PAPER 3 2017
Which of the following features belong to Cournots’ model of duopoly?
a) It yields determinate and stable equilibrium for the duopolists
b) It is an adequate representation of Nash equilibrium
c) If the duopolists combine to form a monopoly, the price changed by them will be less than the equilibrium price without their combining together.
Of the above which statements are true? Choose from the code below:
A
All the above are correct
B
a and c are correct
C
a and b are correct
D
b and c are correct
3
2017 · Unclassified
ECONOMICS NOVEMBER PAPER 3 2017
A good is called a ‘Giffen good’ when the income effect is:
A
positive and is greater than the substitution effect
B
Equal to substitution effect
C
Less than the substitution effect
D
Negative and is greater than the substitution effect
4
2017 · Unclassified
ECONOMICS NOVEMBER PAPER 3 2017
Movement from an inefficient allocation to an efficient allocation in the Edgeworth Box will:
A
increase the utility of all individuals
B
increase the utility of at least one individual, but may decrease the level of utility of another person
C
decrease the utility of all individuals
D
increase the utility of one individual, but cannot decrease the utility of any individual
5
2017 · Unclassified
ECONOMICS NOVEMBER PAPER 3 2017
In explaining the price effect, which of the following is/are constant?
a) Real income
b) Money Income
c) Price ratio
Choose the correct answer from the code given below:
A
Only a
B
Only b
C
Both a and c
D
Both b and c
6
2017 · Unclassified
ECONOMICS NOVEMBER PAPER 3 2017
Which of the following is a problem connected with general equilibrium analysis?
A
Existence problem
B
Uniqueness problem
C
Stability problem
D
All of the above