UGC NET 2016 Paper 3 Management Question Paper (10-Jul-2016)

Question 1

Which of the following are the assumptions related to the theory of consumer behaviour as per the Cardinal utility approach ?
(i) Consumer is rational.
(ii) No limit on money income.
(iii) Utility cardinally measurable.
(iv) Diminishing marginal utility of money.
(v) Diminishing marginal utility of commodities.
(vi) Maximization of satisfaction.
(vii) For calculating total utility, individual utilities of commodities are to be multiplied.
Codes :

Accepted Answer

(i), (iii), (v) and (vi)

Answer

(i), (ii), (iii) and (iv)

Answer

(iv), (v), (vi) and (vii)

Answer

(iii), (iv), (vi) and (vii)

Question 2

Which one of the following is not the property of Cobb-Douglas Production Function ?

Accepted Answer

Power functions are not homogeneous because the sum of the exponents is not equal to degree 1.

Answer

The multiplicative form of the power function can be changed into its log-linear form.

Answer

The parameters in the function a and b represent the elasticity coefficient of output for inputs (capital and labour) respectively.

Answer

Constants a and b in the function represent share of inputs capital and labour in total output.

Question 3

Statement – I : Costs which do not take the form of cash outlays, nor do they appear in the accounting system are known as opportunity costs.
Statement – II : Costs in the form of depreciation allowances and unpaid interest on the owner's own funds are known as sunk costs.

Accepted Answer

Statement – I is correct while Statement – II is incorrect.

Answer

Both the statements are correct.

Answer

Both the statements are incorrect.

Answer

Statement – I is incorrect while Statement – II is correct.

Question 4

Which one of the following is incorrect combination with regard to the types of market structures ?

Accepted Answer

Market StructureNo. of firms and degree of product differentiationControl over priceMonopolySingle firm with close substituteSome

Answer

Market StructureNo. of firms and degree of product differentiationControl over pricePerfect competitionLarge number of firms with homogeneous productsNone

Answer

Market StructureNo. of firms and degree of product differentiationControl over priceMonopolistic CompetitionMany firms with real or perceived product differentiationSome

Answer

Market StructureNo. of firms and degree of product differentiationControl over priceOligopolyLittle or no product differentiation and many firmsSome

Question 5

Which one of the following is not studied in Macro-Economics ?

Accepted Answer

Market structure and Pricing decisions.

Answer

General Theory of Employment, Interest and Money.

Answer

Foreign Trade.

Answer

Theories of economic growth.

UGC NET 2016 Paper 3 Management Question Paper (10-Jul-2016)

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