Economics Solved Question Paper 3 CBSE UGC NET June 2013 Explanations : here i am going to share Economics Solved Question Paper 3 CBSE UGC NET June 2013 with Explanations. Read below Economics Solved Question Paper 3 CBSE UGC NET June 2013 Explanations

• UGC NET Solved Papers from 2004- Jan 2017

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1. Who is widely known as the founder of Austrian School ?
   (A) W.S. Jevons
   (B) Leon Walras
   (C) Knut Wicksell
   (D) Karl Menger
   2. For substitutes, cross elasticity of demand is
   (A) Positive
   (B) Negative
   (C) Zero
   (D) Always less than one
   3. Reservation wage means
   (A) Fair wage at which workers are willing to work.

          (B) Subsistence wage at which an individual is willing to work.
(C) Minimum wage at which an individual is willing to work.
(D) Maximum wage at which an individual is willing to work.

4.  An economic region of production consists of
(A) The positively sloped portions of all isoquants

(B) The negatively sloped portions of all isoquants

(C) The middle of all isoquants
(D) The highest points of all isoquants

5. Elasticity of substitution is
(A) The substitution of cheaper inputs for dearer inputs.
(B) The rate at which the inputs (labour and capital) are substituted.

(C) A measure of the responsiveness of input ratio to a change in input-price ratio.
(D) A measure of the responsiveness of input prices and the substitution of the cheaper inputs.

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• UGC NET Solved Papers from 2004- Jan 2017