UGC NET Economics 2020 Question Paper & Answers
The official UGC NET Economics 2020 question paper, with the official answer key. Attempt as a real timed exam (with negative marking) or switch to practice mode for instant per-question answers and explanations.
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Official PYQ
UGC NET Economics 2020 (June cycle, Paper 2)
120 Mins 192 Marks
96Questions
192Max Marks
Sample questions from UGC NET Economics 2020 (June cycle, Paper 2)
1Given below are two statements
Statement I: Learning curve effect is related to a firm's long-run average cost curve
Statement II: A swapped allocation is one that is Pareto efficient as well as an equitable allocation
In light of the above statements, choose the correct answer from the options given below
- A) Both Statement I and Statement I| are true
- B) Both Statement I and Statement II are false
- C) Statement I is correct but Statement II is false
- D) Statement I is incorrect but Statement II is true
Answer: A
2For the given Income Consumption curve in the diagram, which one of the following is correct, beyond point A?
- A) Good x is inferior and Good y is normal
- B) Good y is inferior and Good x is normal
- C) Good x and Good y are normal
- D) Good x and Good y are inferior
Answer: B
3Match List I with List II
List I List II A. Effectiveness of private market in dealing with externalities I. Laffer curve B. Relationship between increase in tax rate and tax revenue II. Deadweight Loss C. Dominant strategy III. Coase Theorem D. Controlling prices through effective price ceiling and a price floor IV. Game Theory
Choose the correct answer from the options given below:
- A) A - III, B - I, C - IV, D - II
- B) A - IV, B - I, C - II, D - III
- C) A - I, B - III, C - II, D - IV
- D) A - III, B - I, C - II, D - IV
Answer: A
4For the production function, g = AL°KP:
A. The Coefficient A shows managerial efficiency
B. If a+B>1 then the production function exhibits increasing returns to scale BK
C. Marginal Rate of Technical Substitution of L for K is given by = a
D. The Marginal Product of Capital is given by ee
Choose the correct answer from the options given below:
- A) A, Band C only
- B) A, B and D only
- C) A, Cand D only
- D) A, B, Cand D only
Answer: B
5Presence of asymmetric information in the market causes which of the following?
A. Adverse selection
B. Marginal benefits of an additional unit of resources diminish with an increasing number of unit of resources
C. Efficiency wages
D. Principal-Agent problem
Choose the correct answer from the options given below:
- A) A, B and D only
- B) B, C and D only
- C) A and D only
- D) A and C only
Answer: C
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