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Lecture-24: Unique Questions-PYQPs

2012-21 Macroeconomics

Unit-2: Macroeconomics

NTA-UGC-NET

Economics (Paper-2)

This ppt contains 176 questions from UGC NET PYQPs from 2012-2021, which is purely
meant for self-evaluation. If time becomes a constraint, then you are advised to refer to the
concerned video on YouTube or the recorded sessions of the concerned topics.

Q-1: The classical economists focused on the role of money as

(A) medium of exchange

(B) medium of distribution

(C) wealth

(D) link between present and future

Ans (A)

Q-2: If the demand for money is perfectly interest inelastic, the LM schedule will be

(A) Upward sloping

(B) Downward sloping

(C) Horizontal line

(D) Vertical line

Ans (D)

Q-3: Improvement in the BOP deficit may be effected through

I. Import control

II. Export promotion

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III. Foreign exchange control

IV. Devaluation

Codes :

(A) I and II are correct.

(B) I, II, III and IV are correct.

(C) II and III are correct.

(D) I, II and III are correct.

Ans (B)

Q-4. Fiscal policy relates to the Government decision in respect of

I. Taxation

II. Government spending

III. Government borrowing

IV. Public Debt

Codes :

(A) III and IV are correct.

(B) II, III and IV are correct.

(C) I and II are correct.

(D) All the above are correct.

Ans (D)

Q-5. In Keynesian system speculative demand for money arises because of

I. Uncertainty of future interest rates

II. Unexpected expenditures

III. To bridge the gap between income and eventual expenditure

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IV. Relationship between changes in the interest rates and bond prices

Codes :

(A) I and III are correct.

(B) I and IV are correct.

(C) II and III are correct.

(D) III and IV are correct.

Ans (B)

Q-6. According to Milton Friedman Theory of permanent component of consumption-

expenditure depends on

I. Transitory income alone

II. Transitory and permanent income

III. Permanent income alone

IV. Windfall gains

Codes :

(A) I and II are correct.

(B) I and III are correct.

(C) II and IV are correct.

(D) Only III is correct.

Ans (D)

Q-7. Assertion (A) : According to the Life Cycle Theory of consumption, an individual level of
consumption depends not just on current income but also on long run expected earnings.

Reason (R) : Individuals are assumed to plan a pattern of expenditure based on expected earnings
over life time.

Codes :

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(A) (A) is true, but (R) is false.

(B) Both (A) and (R) are false.

(C) (A) is not correct, but (R) is correct.

(D) Both (A) and (R) are correct and (R) is correct explanation of (A).

Ans (D)

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