UGC NET / JRF Economics Question Paper– II: December 2004

The University Grant Commission (UGC) conducted the National Eligibility Test (UGC NET/ JRF) for Junior Research Fellowship and Eligibility for Lectureship in December 2004.

Jagranjosh.com will provide questions from the respective segments for the benefit of the aspirants preparing for UGC NET/ JRF/ SLET recruitment exams. The question paper will help in the practice and thereby further the preparation procedure of the students.

1. The laws of returns to scale assume:

(A) Technique of production is unchanged

(B) All units ( factors are homogenious

(C) Returns are measured in physical terms

(D) All of the above

2. Payment of interest as a factor reward is explained by:

(A) Productivity Theory

(B) Abstinence Theory

(C) Time Preference theory

(D) All of the above

3. In the light of the Revealed Prt4ercnce Theory, consider the following axioms, and select the right answer from the code given

below:

(a) Rationality

(b) Consistency

(c) Transitivity

(d) Non - satiation

Code:

(A) (a) and b) are correct

(B) All the four axioms are correct

(C) (a) and (c) are correct

(D) (a), (b), and (c) are correct

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