UGC NET ECONOMICS · 2022 · UNIT 2
Macro Economics PYQs
समष्टि अर्थशास्त्र के प्रश्न
December2021/June2022 merged · 8October2022
दिसंबर2021/जून2022 संयुक्त · 8अक्टूबर2022
Consumption and investment
उपभोग और निवेश
Question 1 / प्रश्न 1
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Match List I with List II.
Consumption hypotheses और economists match करें।
| ListI सूचीI |
ListII सूचीII |
|---|---|
| A Absoluteincome निरपेक्षआय |
I Milton Friedman फ्रीडमैन |
| B Relativeincome सापेक्षआय |
II J M Keynes कीन्स |
| C Permanentincome स्थायीआय |
III James Duesenberry ड्यूज़नबेरी |
| D Lifecycle जीवनचक्र |
IV Franco Modigliani मोदिग्लिआनी |
(a) II I IV III
(b) II III I IV
(c) IV III I IV
(d) III II I IV
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (b) II III I IV
Explanation: The hypotheses map to Keynes, Duesenberry, Friedman, and Modigliani respectively.
व्याख्या: Keynes absolute income; Duesenberry relative income; Friedman permanent income; Modigliani lifecycle। AII BIII CI DIV।
IS LM and open economy
IS LM और खुली अर्थव्यवस्था
Question 7 / प्रश्न 7
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In the Mundell-Fleming model, under floating exchange rate, which policy is more effective to influence aggregate income?
Mundell–Fleming floating FX/perfect capital mobility में income पर अधिक effective policy?
(a) Fiscal।
(b) Monetary।
(c) Fixed FXpolicy।
(d) कोई नहीं।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (b) Monetary।
Explanation: Under floating rates and perfect capital mobility, monetary expansion stimulates net exports through depreciation.
व्याख्या: Monetary expansion currency depreciation और net exports बढ़ाती है। Fiscal expansion interest pressure/capital inflow/appreciation से crowdout होती है। Result small open-economy standard assumptions पर है।
Question 19 / प्रश्न 19
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Which of the following are correct with respect to IS-LM model? A. The LM schedule slopes upward to the right. B. The LM schedule will shift to the left with an increase in quantity of money C. The LM schedule gives equilibrium in the money market D. The IS schedule will shift to the left when these is an increase in government expenditure E. The IS schedule will shift to the right when taxes are reduced
ISLM: A usual LMupward; B M↑LMleft; C money-equilibrium; D G↑IS left; E T↓IS right।
(a) A, C, E केवल
(b) A, B, C, D केवल
(c) A, C केवल
(d) B, D, C, E केवल
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) A, C, E केवल
Explanation: Money expansion shifts LM right; spending increases ortax cuts shift IS right.
व्याख्या: A C E सही। M↑LMright/down और G↑IS right shift करते हैं। इसलिए B/D directions उलटे हैं।
National income and multiplier
राष्ट्रीय आय और गुणक
Question 11 / प्रश्न 11
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Real and nominal income is calculated respectively at
Real और nominal income respectively किन prices पर?
(a) Current/constant।
(b) Constant/current।
(c) Constant/constant।
(d) Current/current।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (b) Constant/current।
Explanation: Real income uses constant prices; nominal income uses current prices.
व्याख्या: real income base-year/constant prices पर price change remove करता है; nominal income current period prices पर measured है।
Question 31 / प्रश्न 31
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Find NDP at factor cost: GDP at market prices=27,654 crore; depreciation=2,847 crore; indirect taxes less subsidies=2,160 crore.
GDPmp27654, depreciation 2847, NIT 2160 crore में NDPfc?
(a) 24,807
(b) 22,647
(c) 26,967
(d) 28,467
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (b) 22,647
Explanation: 27654−2847−2160=22647.
व्याख्या: NDPfc=GDPmp−depreciation−net indirect tax=27654−2847−2160=22647 crore। GDP को net और factor cost दोनों में convert करने के लिएदो adjustments हैं।
Question 60 / प्रश्न 60
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When MPC = 0.75 a decrease in taxes Rs. 200 crore will increase GDP by
MPC.75, tax cut200 crore में ΔGDP?
(a) 200 crore
(b) 100 crore
(c) 600 crore
(d) 800 crore
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (c) 600 crore
Explanation: The tax multiplier is−.75/.25=−3; a200tax cut raises income600.
व्याख्या: Tax multiplier−c/(1−c)=−3। ΔT=−200 ⇒ΔY=(−3)(−200)=+600 crore। Government spending multiplier4 लगानेसे 800 आएगा, जो यहाँ गलत है।
Economic thought
आर्थिक विचार
Question 15 / प्रश्न 15
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"Menu Cost" is a concept used in
Menu-cost theory किस school में प्रमुख है?
(a) Classical economics
(b) Neo-classical economics
(c) New-Keynesian economics
(d) Keynesian economics
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (c) New-Keynesian economics
Explanation: New Keynesian menu costs help explain nominal price rigidity.
व्याख्या: New Keynesian price adjustment costs nominal price rigidity समझाते हैं। Menu cost printing menus से broader repricing/admin costs तक का concept है।
Question 54 / प्रश्न 54
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Arrange the different schools of thought in a sequence of their occurance starting from the oldest. A. Physiocrats B. Keynesian economics C. Classical economics D. New Keynesian economics E. Monetarist Counter revolution
Schools oldest first: A Physiocrats; B Keynesian; C Classical; D New Keynesian; E Monetarist counter revolution।
(a) A, B, C, E, D
(b) A, C, E, B, D
(c) A, B, E, C, D
(d) A, C, B, E, D
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (d) A, C, B, E, D
Explanation: The historical order is Physiocrats, Classical, Keynesian, Monetarist, New Keynesian.
व्याख्या: Physiocrats18thcentury → Classical late18th/19th → Keynesian 1930s → Monetarism 1950s/60s → New Keynesian 1970s/80sonward। क्रम A C B E D।
Monetary theories
मौद्रिक सिद्धांत
Question 69 / प्रश्न 69
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In the context of the transaction demand for money, the square root rule was developed by
Transaction money demand square root rule किसका?
(a) Kydland-Prescott
(b) Friedman-Scwartz
(c) Boumol-Tobin
(d) J.M. Keynes
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (c) Boumol-Tobin
Explanation: Baumol–Tobin balances conversion costs against for gone interest to derive square-root money demand.
व्याख्या: Baumol–Tobin model में optimal cash holding transaction volume के square root और interest के inverse-square root के proportional होती है; brokeragecosttradeoff driver है।
Question 70 / प्रश्न 70
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Match List I with List II.
Theories और economists match करें।
| ListI सूचीI |
ListII सूचीII |
|---|---|
| A Money/prices proportional मुद्रा-मूल्यसमानुपात |
I A W Phillips फिलिप्स |
| B Unemployment/wageinflation बेरोजगारी-मजदूरीमुद्रास्फीति |
II Irving Fisher फिशर |
| C Innovationprofit नवाचारलाभ |
III Robert Lucas लूकस |
| D Policyineffectiveness नीतिअप्रभाविता |
IV Joseph Schumpeter शुम्पीटर |
(a) II I IV III
(b) III, II, I, IV
(c) II IV III I
(d) IV III II I
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) II I IV III
Explanation: Fisher implies direct, not inverse, proportionality when output and velocity are fixed.
व्याख्या: Fisher quantity equation fixed Y, V पर money-prices DIRECT proportion देती है; source“indirect proportion” typo है। BPhillips, CSchumpeter, DLucas/new classical rational expectations conditional policy proposition।
Question 76 / प्रश्न 76
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The irrelevance of money for real variables in the classical system is called
Classical system में money का real variables पर कोई long run असरनहोना?
(a) Fiscalneutrality।
(b) Monetaryneutrality।
(c) FXneutrality।
(d) Technologyneutrality।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (b) Monetaryneutrality।
Explanation: Monetary neutrality means nominal money changes do not alter long-run real variables.
व्याख्या: Money neutrality में nominal money level changes prices proportionately बदलते हैं, real output/employment नहीं। Super neutrality money growthrate change का stronger claim है।
December2022 · 2March2023 · ShiftI
दिसंबर2022 · 2मार्च2023 · पालीI
Inflation and expectations
मुद्रास्फीति और अपेक्षाएँ
Question 8 / प्रश्न 8
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The Sticky-price Model is.
Sticky price model किस relation को समझाता है?
(a) Upwardshort-run AS।
(b) Upwardlong-run AS।
(c) Downwardshort-run AD।
(d) Downwardlong-run AD।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) Upwardshort-run AS।
Explanation: Preset prices can make short-run aggregate supply upward-sloping.
व्याख्या: कुछ firms preset prices रखती हैं; actual P expected P सेऊपरहोतो flexible firms/output response से Y>Ynatural हो सकता है। Long run price adjustment पर LRASusualvertical है।
National income and multiplier
राष्ट्रीय आय और गुणक
Question 9 / प्रश्न 9
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If the demand for labour increases, then.
Usual competitive labour market में demand outward shift से?
(a) Realwage बढ़े।
(b) Employment बढ़े।
(c) दोनों।
(d) कोई नहीं।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (c) दोनों।
Explanation: An outward labour-demand shift raises wages and employment given upward-sloping supply.
व्याख्या: Upward sloping labour supply के साथ new equilibrium higher wage/higher employment है। Perfectly inelastic supply पर employment नबढ़ेगा; text book answer usual supply assumption पर है।
Question 26 / प्रश्न 26
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Which formula gives the lump-sum tax multiplier?
Simple income expenditure model का tax multiplier?
(a) −MPC/(1−MPC)
(b) 1/(1−MPC)
(c) (1−MPC)/MPC
(d) (2−MPC)/MPC
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) −MPC/(1−MPC)
Explanation: Differentiating equilibrium income with respect to lump-sum taxes gives−MPC/(1−MPC).
व्याख्या: Y=[a+I+G−c T]/(1−c); derivative∂Y/∂T=−c/(1−c)। Example MPC.75 पर−3।
Question 45 / प्रश्न 45
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For the computation of National income by the product method, which of the following sectors are considered. A. Registered manufacturing B. Agricultural and allied activities C. Mining and quarrying D. Unregistered manufacturing E. Non-monetised activities
Product method coverage: A registered manufacturing; B agriculture; C mining; D unregistered manufacturing; E non monetised activities।
(a) A, B और C केवल
(b) B और C केवल
(c) A, B, C और D केवल
(d) B, C और D केवल
Answer & Explanation / उत्तर और व्याख्या
उत्तर: scope स्पष्टकरें
Explanation: Own-consumption production can count in GDP; unpaid household services generally do not, so E is too broad.
व्याख्या: A–D output/value added count होती है। Own-consumption farm output जैसे non monetised production भी SNAproductionboundary में include होती है; unpaid house work generally excluded। इसलिए E को पूरी तरह exclude कहना गलत; source(c)narrow sector-list reading है।
Question 90 / प्रश्न 90
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Given below are two statements. Statement I: Supply side policies are long term measures to increase the productive capacity of the economy leading to an outward shift in the production possibility curve. Statement II: Privatisation is the act of selling state owned assets in order to increase competition, productivity and efficiency. In light of the above statements,
I Supply side policies capacity/PPCoutwardshift; II privatisationstateassetssalewithaimofefficiency।
(a) दोनों सही।
(b) दोनों गलत।
(c) I सही II गलत।
(d) I गलत II सही।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) दोनों सही।
Explanation: Privatisation transfers ownership; its intended efficiency gains are not automatic.
व्याख्या: I supply potential बढ़ानेकाआशय बताता है; II ownership transfer औरउसकी intended rationale। Privatisation से competition/efficiency guaranteed नहीं; regulation और market structure पर results depend हैं।
Monetary theories
मौद्रिक सिद्धांत
Question 10 / प्रश्न 10
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Macroeconomics distinguishes between real economy and_______.
Macro में real economy के साथकौन sector distinction?
(a) Virtual।
(b) Monetary।
(c) Normative।
(d) Underground।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (b) Monetary।
Explanation: Macroeconomics distinguishes real activity from the monetary/nominal side.
व्याख्या: Real variables goods/services/resources को describe करते हैं; monetary/nominal side money, prices और financial claims सेसंबंधित है। दोनों के interactions macro काविषय हैं।
Question 42 / प्रश्न 42
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Which of the following are correct about loanable fund theory? A. Dishoarding is a major source of supply of loanable funds. B. Demand for hoarding is inversely related to the interest rate. C. Equality between demand and supply of loanable funds is the only condition required for a stable equilibrium. D. Wicksell was one of the propounders of the theory. E. It introduced monetary factors into the theory of interest.
Loanable funds: A dishoarding स upplysource; B hoarding demand interest से inverse; C equality alone guarantees stability; D Wicksell; E monetary factors।
(a) A, B और D केवल
(b) C, D और E केवल
(c) B, D और E केवल
(d) A, D और E केवल
Answer & Explanation / उत्तर और व्याख्या
उत्तर: पूरा combination नहीं
Explanation: Dishoarding is also a supply source; A, B, D, E are needed, but no complete option is offered.
व्याख्या: Savings, dishoarding, bank credit/disinvestment loanable funds supply मेंआते हैं। Hoarding interest opportunity cost से घटती है; Wicksell association और monetary factors D/E सही। C market clearing को dynamic stability केबराबरमानता है, जो गलत है।
Question 84 / प्रश्न 84
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Arrange the following in chronological order starting from the oldest relating to the theory of money. A. Patinkin B. Fisher C. Friedman D. Marshall E. Keynes
Money theory chronology: A Patinkin; B Fisher; C Friedman; D Marshall; E Keynes।
(a) E, B, C, A, D
(b) B, D, E, A, C
(c) A, B, C, D, E
(d) D, B, A, C, E
Answer & Explanation / उत्तर और व्याख्या
उत्तर: unique general order नहीं
Explanation: The intended chronology uses selected later publications; earlier ideas and same-year works make a general order ambiguous.
व्याख्या: Fisher 1911, Marshall Money Credit Commerce 1923, Keynes 1936, Patinkin 1956, Friedman selected 1960publication लेंतो B D E A C। लेकिन Marshall cash balance earlier और Friedman restatement 1956 भी है। Unspecifiedtheoryorigins के लिए singleunqualifiedchronology नहीं।
Consumption and investment
उपभोग और निवेश
Question 11 / प्रश्न 11
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In accelerator theory, capital output ratio is assumed to be.
Simple accelerator में capital-output ratio?
(a) बढ़ती।
(b) Output से unrelated अलग variable।
(c) घटती।
(d) Constant।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (d) Constant।
Explanation: The simple accelerator assumes constantv, so investment=vΔY.
व्याख्या: Desired K=v Y, fixedv ⇒net investmentΔK=vΔY। Technology/capacity assumption बदलनेपर fixed accelerator result नहीं रहता।
Question 46 / प्रश्न 46
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Which of the following statements are correct? A. According to the accelerator model, investment demand is proportional to the change in GDP. B. The real rate of interest is the nominal rate of interest plus the inflation rate. C. The higher the real interest rate, the higher is the rental cost of capital. D. Investment is a stock concept. E. Residential investment is low when mortage interest rates are high.
Investment: A acceleratorΔGDP; B real rate=nominal+inflation; C real rate↑user cost↑; D investment stock; E high mortgage rate housing investment↓।
(a) B, C, D केवल
(b) A, C, E केवल
(c) A, B, E केवल
(d) C, D, E केवल
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (b) A, C, E केवल
Explanation: Real interest is nominal minus expected inflation; investment is a flow, not a stock.
व्याख्या: A C E सही। Approx real rate nominal MINUS expected inflation है। Investment flow है; capital stock है।
IS LM and open economy
IS LM और खुली अर्थव्यवस्था
Question 28 / प्रश्न 28
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The money supply in the IS-LM model is assumed to be.
Basic LM में relevant fixed supply कौन?
(a) Realnarrowmoneyonly।
(b) Nominalmoneywithoutprices।
(c) Nominalbroadmoneyonly।
(d) Realmoneybalances M/P।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (d) Realmoneybalances M/P।
Explanation: LM equates real money supply M/P with real money demand.
व्याख्या: LM equation M/P=L(Y, i) है। Central bank nominal M चुनता और basic fixed-Pmodel में M/Pexogenous होता है; statement money aggregate M1/M3 चुननेपर नहीं है।
Economic thought
आर्थिक विचार
Question 67 / प्रश्न 67
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Match List I with List II.
Economists और concepts match करें।
| ListI सूचीI |
ListII सूचीII |
|---|---|
| A A W Phillips फिलिप्स |
I Wageinflation/unemployment मजदूरीमुद्रास्फीति-बेरोजगारी |
| B Findlay Shirras फिंडलेशिरास |
II Moneyillusion मुद्राभ्रम |
| C Modigliani मोदिग्लिआनी |
III Lifecycle जीवनचक्र |
| D Pigou पिगू |
IV Taxablecapacity करदेयक्षमता |
(a) A-II, B-I, C-III, D-IV
(b) A-I, B-IV, C-III, D-II
(c) A-I, B-II, C-III, D-IV
(d) A-III, B-IV, C-I, D-II
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (b) A-I, B-IV, C-III, D-II
Explanation: The intended associations are Phillips, Shirras, Modigliani, and Pigou with their listed concepts.
व्याख्या: Phillips I, Shirras IV, Modigliani III, Pigou II: AI BIV CIII DII। Pigou के money-illusion discussion को Fisher के same-titled book से अलग association पढ़ें।
December2022 · 2March2023 · ShiftII
दिसंबर2022 · 2मार्च2023 · पालीII
Consumption and investment
उपभोग और निवेश
Question 6 / प्रश्न 6
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The Keynes’s animal spirits are closely associated with.
Keynesian animal spirits किससे closely linked?
(a) केवल pastinvestment।
(b) Currentinvestmentdecisions।
(c) Incomeidentityalone।
(d) हर aggregateexpenditureautomatically।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (b) Currentinvestmentdecisions।
Explanation: Animal spirits influence entrepreneurs’ current investment under uncertainty.
व्याख्या: Entrepreneurial confidence/optimism investment expectations को affect करती है, जब future uncertain हो। Term को mechanical interest-only investment function तकसीमित नहीं करते।
Question 10 / प्रश्न 10
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If the consumption function passes through the origin and APC = MPC then it must be.
Consumption origin सेगुजरेऔरहर Y पर APC=MPC तो?
(a) Linearzerointercept।
(b) Nonlinearzerointercept।
(c) Negativeintercept।
(d) Positiveintercept।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) Linearzerointercept।
Explanation: C/Y=d C/d Y implies C=k Y, with a zero intercept.
व्याख्या: C/Y=d C/d Y ⇒d C/C=d Y/Y ⇒C=k Y। Differentiablerelevantpositive Yrange में constant propensity और zero intercept है।
IS LM and open economy
IS LM और खुली अर्थव्यवस्था
Question 7 / प्रश्न 7
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In the Mundell-Fleming model, the monetary policy will be more effective when there is.
Mundell Fleming में monetary policy सबसे effective?
(a) Perfectmobility+floating FX।
(b) Perfectmobility+fixed FX।
(c) Imperfectmobility+floating।
(d) Imperfectmobility+fixed।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) Perfectmobility+floating FX।
Explanation: Floating exchange rates and perfect capital mobility maximise the standard monetary-policy channel.
व्याख्या: Floating currency में expansion interest pressure/depreciation से net exports stimulate करती है। Fixedpeg और perfect mobility में reserve flows autonomous monetary expansion offset करते हैं।
Question 85 / प्रश्न 85
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Given below are two statements. Statement I: When the level of investment is itself determined within the system then the effectiveness of monetary policy is enhanced by an elastic investment and inelastic liquidity preference schedule, whereas the opposite holds for the effectiveness of fiscal policy. Statement II: Monetary policy, by accommodating fiscal policy may forestall the crowding out effect. In the light of the above statements,
I Monetary effectiveness high investment elasticity/low money demand interest elasticity; fiscal opposite; II accommodation crowding out रोकसकती।
(a) दोनों सही।
(b) दोनों गलत।
(c) I सही II गलत।
(d) I गलत II सही।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) दोनों सही।
Explanation: Monetary accommodation can reduce fiscal crowding out; relative IS/LM sensitivities govern the model’s policy effects.
व्याख्या: Interest-sensitive investment monetary rate changes को stronglytransmit करती है। Fiscal stimulus के साथ central bank M बढ़ाकर interest pressure restrain कर सकता, लेकिन inflation/FXconstraints इस strategy को limit करते हैं।
Question 88 / प्रश्न 88
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Given below are two statements. Statement I: The IS curve is negatively sloped because an increase in the interest rate reduces planned investment spending and therefore reduces the equilibrium level of income. Statement II: The smaller the multiplier and the less sensitive investment spending is to changes in the interest rate, the steeper is the IS curve. In the light of the above statements,
I Interest↑investment↓income↓ इसलिए IS downward; II small multiplier/low investment sensitivity से IS steeper।
(a) दोनों सही।
(b) दोनों गलत।
(c) I सही II गलत।
(d) I गलत II सही।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) दोनों सही।
Explanation: The absolute IS slope is1/(kb); smaller multiplier or investment sensitivity makes it steeper.
व्याख्या: I=I₀−bi में Y=k(A−bi), slope di/d Y=−1/(kb)। k या b कमहोतो absolute slope बड़ीऔर IS steeper।
National income and multiplier
राष्ट्रीय आय और गुणक
Question 9 / प्रश्न 9
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The chain-weighted index is.
Chain weighted index क्या करता है?
(a) Nominalmarketvalueonly।
(b) केवल GDPgrowthnumber।
(c) Neighbouringyears के updatedweights से indiceslink करता।
(d) सिर्फ fixedbase GDPdeflator।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (c) Neighbouringyears के updatedweights से indiceslink करता।
Explanation: Chain indices link adjacent-year comparisons using updated weights.
व्याख्या: Chain indices adjacent period comparisons को link करके changing expenditure/production weights reflect करते हैं। real output/price comparisons में old fixed base weight bias कम हो सकता है।
Question 44 / प्रश्न 44
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How do adverse technology shocks affect labour demand and supply? A. Decrease the demand for labour B. Both real wage and employment fall C. Real wage increases and employment falls D. Real wage falls and employment increases E. Adverse effect on market equilibrium.
Adverse technology shock: A labour demand↓; B wage/employment↓; C wage↑jobs↓; D wage↓jobs↑; E adverse equilibrium।
(a) A, C और D केवल
(b) B, D और E केवल
(c) A, B, C और D केवल
(d) A, B और E केवल
Answer & Explanation / उत्तर और व्याख्या
Explanation: A static adverse-productivity shift lowers labour demand, wages, and employment; full dynamic responses require more assumptions.
व्याख्या: Productivity↓marginal product और labour demand left करती है। Fixed upward labour supply में wage/employment दोनों गिरते हैं। Full RBCwealth/intertemporal supply responses से precise outcomes change हो सकते हैं।
Inflation and expectations
मुद्रास्फीति और अपेक्षाएँ
Question 27 / प्रश्न 27
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In context of monetary policy, the sacrifice ratio refers to the________.
Sacrifice ratio काअर्थ?
(a) Crowdingoutinterestcost।
(b) Money की purchasingpowerloss।
(c) Inflation घटानेकी outputcost।
(d) Minimumwagecost।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (c) Inflation घटानेकी outputcost।
Explanation: The sacrifice ratio measures output lost per unit of disinflation.
व्याख्या: Usually cumulative output loss(%annual GDP) per percentage point permanent inflation reduction। Employment/unemployment cost से linked है, लेकिन money holders की inflation loss definition नहीं।
Question 42 / प्रश्न 42
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Rational expectations views include. A. The market cleaning rational expectations do not approach to the Phillips curve B. Rational expectation as a theory of expectations C. An emphasis on the credibility of policy markers D. A preference for policy making rules rather than discretion E. Generally insists that markets do not clear rapidly
Rational expectations/New Classical views: A malformed PCclaim; B expectations theory; C credibility; D rules preference; E slow market clearing।
(a) B, C और D केवल
(b) A और E केवल
(c) A B C D और E
(d) A D और E केवल
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (a) B, C और D केवल
Explanation: Credibility and rules are associated with rational-expectations/New Classical models, but expectations alone do not imply clearing.
व्याख्या: B C D intended associations हैं। Rational expectations itself market clearing imply नहीं करती, लेकिन New Classical combination usually rapid clearing assume करती है। E उस package केविरुद्ध है।
Economic thought
आर्थिक विचार
Question 82 / प्रश्न 82
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Arrange the following chronologically in order in their year of first occurrence starting from oldest. A. Liquidity Preference Theory B. Multiplier by R.F. Kahn C. Division of Labour, Adam Smith D. Quantity theory of Money, Fisher E. Great Depression
oldest first: A liquidity preference; B Kahn multiplier; C Smith division labour; D Fisher quantity; E Depression।
(a) C, E, B, A, D
(b) E, D, C, B, A
(c) B, C, D, E, A
(d) B, A, D, C, E
Answer & Explanation / उत्तर और व्याख्या
उत्तर: कोई option नहीं
Explanation: 1776,1911,1929,1931, and 1936give C, D, E, B, A, which is absent.
व्याख्या: Smith 1776 → Fisher 1911 → Depression 1929 → Kahn 1931 → Keynes liquidity preference 1936। क्रम C D E B A। Listed options में none exact।