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Economics Quiz| UGC NET Paper 2

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Question 1

Supply of money remaining the same when there is an increase in demand for money, there will be

Question 2

With reference to the Indian economy, consider the following statements:
1) The rate of growth of real Gross Domestic Product has steadily increased in the last decade.
2) The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade.
Which of the statements given above is/are correct?

Question 3

Consider the following statements regarding Public Private Partnership (PPP) in India.
(1). PPP is coordinated through Department of Revenue, Ministry of Finance.
(2). Vijay Kelkar Panel has given various recommendations for revival of PPP model.
(3). PPP model has not been recommended for small scale projects in view of the transaction costs involved.
(4). Swiss Challenge method is one of the ways of awarding government contracts to private players.
Which of the above options are correct:

Question 4

Consider the following statements:
1). The World Intellectual Property Organization (WIPO) is a Geneva based specialized agency of the United Nations.
2). The theme of India’s recently launched National Intellectual Property Rights (IPR) Policy, 2016 is “Creative India; Innovative India”.
3). Department of Industrial Policy and Promotion (DIPP), under the Union Commerce Ministry is the nodal agency for regulating IP rights in the country.
Which of the above options are correct:

Question 5

Consider the following statements:
1). Inflation refers to a general increase in the price of goods and services. This occurs when demand for these items grows faster than the supply. The result is more money chasing fewer goods, and therefore prices increase.
2). Deflation is fall in general price level of goods and services. Deflation is negative inflation.
3). Disinflation is a slow-down in the inflation rate. Disinflation is positive inflation.
4). Stagflation is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high.

Which of the above options are correct:
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Nikhil VermaNikhil VermaMember since Aug 2017
# 3+ years of mentoring students for UGC NET, IBPS
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