UGC NET Economics 2012 Unit 5: International Economics PYQs (English–Hindi)

The Ricardian model explains comparative advantage through differences in relative unit labour requirements, equivalently opportunity costs. Factor endowments belong to the Heckscher–Ohlin explanation.
Ricardian model में relative unit labour requirements यानी opportunity costs के अंतर से comparative advantage बनता है। Factor endowments Heckscher–Ohlin explanation से जुड़े हैं।

If country A needs 1 labour unit for cloth and 2 for wine, its cloth cost is half a unit of wine. If country B needs 6 and 3 respectively, its cloth cost is 2 units of wine. A has comparative advantage in cloth even though it is absolutely better at both products.
A को cloth के लिए 1 और wine के लिए 2 labour units चाहिए तो cloth की opportunity cost आधी wine है। B को क्रमशः 6 और 3 units चाहिए तो cloth की cost 2 wine है। A दोनों products में absolutely efficient होने पर भी cloth में comparative advantage रखता है।

Adam Smith’s absolute advantage is associated with 1776, Ricardo’s comparative advantage with 1817, Heckscher–Ohlin factor endowments with Heckscher 1919 and Ohlin 1933, and Leontief’s paradox with 1953. Hence II I IV III.
Adam Smith का absolute advantage 1776, Ricardo का comparative advantage 1817, factor endowments approach Heckscher 1919 और Ohlin 1933, तथा Leontief paradox 1953 से जुड़े हैं। इसलिए II I IV III।

The paradox was an empirical challenge to a simple factor endowment prediction; it could not precede the theory it tested.
Paradox, simple factor endowment prediction की empirical challenge था; जिस theory को test किया गया, उससे पहले paradox का आना नहीं बनता।

Adam Smith—absolute advantage; Ricardo—comparative advantage; Ohlin—factor endowments; I B Kravis—availability doctrine. Thus 3 4 2 1.
Adam Smith—absolute advantage; Ricardo—comparative advantage; Ohlin—factor endowments; I B Kravis—availability doctrine। इसलिए 3 4 2 1।

The availability approach highlights goods not available domestically or available only at high cost. Comparative advantage instead compares opportunity costs; absolute advantage compares direct production requirements.
Availability approach domestically unavailable या बहुत अधिक cost पर available goods के trade पर जोर देता है। Comparative advantage opportunity costs और absolute advantage direct production requirements compare करता है।

Import restraint can reduce foreign expenditure; export promotion can raise receipts; foreign exchange controls can limit selected payments; and devaluation can improve trade competitiveness. These are possible adjustment instruments, so the inclusive option is intended.
Import control foreign expenditure घटा सकता है, export promotion receipts बढ़ा सकता है, foreign exchange control selected payments रोक सकता है और devaluation trade competitiveness बढ़ा सकता है। इसलिए inclusive option intended है।

None is an unconditional cure. For instance, devaluation’s trade balance effect depends on demand elasticities, supply response and timing; an initial J curve deterioration is possible.
कोई भी unconditional cure नहीं। Devaluation का trade balance effect demand elasticities, supply response और timing पर निर्भर है; शुरू में J curve के कारण deterioration हो सकती है।

The historical key says (b), but the assertion compresses several different systems. The classical and interwar gold standards broke down well before the end of World War II: Britain left in 1931 and US domestic convertibility ended in 1933.
Historical key में (b) है, लेकिन assertion अलग systems को मिला देती है। Classical और interwar gold standards World War II के अंत से पहले टूट गए: Britain 1931 में अलग हुआ और US domestic convertibility 1933 में समाप्त हुई।

The postwar Bretton Woods gold dollar arrangement was different; US official gold convertibility ended in 1971. If A means the classical/interwar standard it is false, making (d) the appropriate code if R is accepted as true. If the last gold dollar link is intended, A can be read as true. No single unqualified option teaches this chronology correctly without specifying the system.
Postwar Bretton Woods gold dollar arrangement अलग था; US official gold convertibility 1971 में समाप्त हुई। A में classical/interwar standard हो तो A गलत है और R को सही मानने पर (d) बनेगा। अंतिम gold dollar link का अर्थ लें तो A सही पढ़ी जा सकती है। System specify किए बिना कोई unqualified option यह chronology सही नहीं सिखाता।

GATT—trade liberalisation; IMF—balance of payments support; IBRD—development finance; UN—maintenance of international peace. Therefore the matching is 3 1 2 4.
GATT—trade liberalisation; IMF—balance of payments support; IBRD—development finance; UN—international peace बनाए रखना। इसलिए matching 3 1 2 4।

GATT’s reduction of trade barriers is summarised as free trade in this list; it did not instantly eliminate every barrier. Distinguish IMF balance of payments lending from World Bank development financing.
इस list में GATT के trade barriers घटाने को free trade लिखा है; उसने हर barrier तुरंत खत्म नहीं किया। IMF की balance of payments lending और World Bank की development financing में अंतर रखें।