EDUCATION CIRCLE

1. Approx __ % of Indian population is still Agriculturist. A.48% ✔ B.50% C.58% D.64% 2. Contribution of agriculture to Gross National Product is approximately ? A.14% B.15% C.16.5% D.17.5%✔ 3. How much population is living below poverty line(BPL) in India according to 2011 ? A.24% B.22%✔ C.26% D.20% 4. The best indicator of economic development of any country is ? A.Agriculture B.Transport C.Gross production D.Per capita income(PCI)✔ 5. What is the mainstay of Indian economy ? A.Manufacturing B.Business C.Public sector D.Agriculture✔ 6.Who was the father of Operation Flood ? A.Norman Borlaug B.M.S. Swaminathan C.Verghese Kurien✔ D.William Gande 7.Which one is not the type of money market? A.Treasury Bill B.Certificate of paper D.Certificate of deposit 4.Preference share✔ 8.Which five year plan focused on "Growth with social justice and equity". A.Ninth Five Year Plan✔ B.Eight Five Year Plan C.Seventh Five Year Plan D.Sixth Five

Dadabhai Naoroji Committee Y K Alagh Committee Lakdawala Formula Suresh Tendulkar Committee Rangrajan Committee Current Status: Arvind Panagariya Task Force Dadabhai Naoroji(1967-68):-The history of poverty estimation in India goes back to 19th century when Dadabhai Naoroji’s efforts and careful study led him to conclude subsistence based poverty line at 1867-68 prices, though he never used the word “poverty line”. It was based on the cost of a subsistence diet consisting of ‘rice or flour, dhal, mutton, vegetables, ghee, vegetable oil and salt’. According to him, subsistence was what is necessary for the bare wants of a human being, to keep him in ordinary good health and decency. His studies included the scale of diet and he came to a conclusion on the subsistence costs based poverty line that varied from Rs.16 to Rs.35 per capita per year in various regions of India.  National Planning Committee(1969):- The Committee regarded the irreducible minimum income between Rs. 15

           MICRO ECONOMICS (Theories of Consumer Behavior) 1. Marginal Utility Analysis –Marshall – 1890 2. Revealed Preference Theory – Samuelson – 1938 3. Indifference Curve Theory – Hicks and Allen – 1934 4. Neumann – Morgenstern Approach – 1944 5. Friedman – Savage Hypothesis – Friedman and Savage- 1948 Market 1. Cournot Duopoly Model – Cournot – 1838 2. Edgeworth Oligopoly Model – Edgeworth – 1881 3. Bertrand’s Duopoly Model – Bertrand – 1883 4. Imperfect Competition – Joan Robinson - 1933 5. Monopolistic Competition – Chamberlin – 1933 6. Stackelberg’s Duopoly Model – Heinrich Von Stackelberg – 1934 7. Kinked Demand Curve – Paul M Sweezy - 1939 8. Game Theory – Neumann and Morgenstern – 1944 Welfare Criterion 1. Social Welfare Function – Bergson, Samuelson - 1938 2. Impossibility Theorem – Arrow– 1951 3. Theory of Second Best – Richard Lipsey and Kelvin Lancaster-1956 4. Coase Theorem – Ronald

1.which is related to Absolute income hypothesis in short term:- (A)C=a+by (B)C=a+by+extra exp. (C)C=by (D)y=C+S Answe 2. Shadow price refers to (A) Change in the value of the constraint per unit change in the objective function. (B) Change in the value of objective function per unit change in any one of the constraints. (C) The change in the value of the primal solution per unit change in the dual solution. (D) All the above. Answer: (B) 3. In an economy of two individuals (A & B) and two commodities (X and Y) general equilibrium of exchange is reached when (A) MRTSXY = MRTSYX (B) MRSXY = PX / PY (C) (MRSXY)A = (MRSXY)B (D) MRSXY = PY / PX Answer: (C) 4. Match the items in List – I with items in List – II: List – I                                                                                                                                    List – II a. Various combinations that a consumer can purchase