UGC NET QUESTION PAPER (DECEMBER) 2019
1. Match the test with their purpose
List – I
(a) Dickey Fuller test
(b) Box – Jenkins test
(c) Glejser test
(d) Granger test
List – II
(i) Heteroscedasticity
(ii) Causality
(iii) Forecasting
(iv) Stationarity
Choose the correct option
1. (a) – iii, (b) – i, (c) – ii, (d) – iv
2. (a) – ii, (b) – iv, (c) – i, (d) – iii
3. (a) – iv, (b) – iii, (c) – i, (d) – ii✔
4. (a) – i, (b) – ii, (c) – iii, (d) – iv
2. Autonomous investment could be
attributed to
(a) Level of technology
(b) Expectation
(c) Level of national income
Choose the correct option
1. a and c only
2. b and c only
3. a and b only
4. a,b & c✔
3. In which of the following products,
problem of adverse selection is encountered?
1. Market of insurance
2. Market of credit
3. Neither 1 nor 2
4. Both 1 and 2✔
4.The total cost function of a firm is
C = 1/10q^3 – 3q^2 + 50q + 300 where C= total cost, q = output, Marginal cost at q = 10 is
1. 20✔
2. 10
3. 30
4. 50
5. Consider the following statements
(a) India’s trade policy review (TPR) is
carried out every four years
(b) WTO has a mechanism for regular
review of the trade policies of member
countries
Which of the following statements is/are correct?
1. Only a
2. Only b
3. Both a and b✔
4. Neither a nor b
6. Consider the following statements about the social cost - benefit analysis for viability of projects. Which of the following statements are true for this analysis?
(a) IRR should be greater than Social
Discount Rate
(b) NPV should be equal to zero
(c) Shadow prices are used for the
calculation of benefits and costs
Choose the correct option
1. a and c✔
2. a and b
3. b and c
4. a only
7. Assertion (A): Disguised unemploy-ment ispresent in India.
Reason (R): Agricultural productivity at margin is close to zero.
1. Both (A) and (R) are true and (R) is the correct explanation of (A) ✔
2. Both (A) and (R) are true, (R) is not the correct explanation of (A)
3. (A) is true but (R) is false
4. (A) is false but (R) is true
8. Analysis of variance is carried out by using:
1. t- test
2. Z- test
3. χ2 – test
4. F – test✔
9. Match the Economists with their field of contribution in Mathematical economics
List I
(a) Slutsky
(b) Arrow
(c) Leontief
(d) Dantzig
List II
(i) Linear programming
(ii) Input - output analysis
(iii) Consumer behaviour analysis
(iv) CES production function
Choose the right combination
1. (a) – ii, (b) – iv, (c) – i, (d) – iii
2. (a) – iii, (b) – iv, (c) – ii, (d) – i✔
3. (a) – i, (b) – ii, (c) – iv, (d) – iii
4. (a) – iv, (b) – i, (c) – iii, (d) – ii
10. Who among the following economists are associated with the ‘Balanced Growth’ doctrine?
(a) W A Lewis
(b) H W singer
(c) R Nelson
(d) Ragnar Nurkse
Choose the correct option
1. a and d✔
2. c and d
3. a and b
4. b and c
11. Assertion (A) : Parties to a dispute over property rights will be able to neg-otiate an economically optimal solution
Reason (R) : There are efficient, compe-titive markets and there are no transac-tions cost
1. Both (A) and (R) are true and (R) is the correct explanation of (A)✔
2. Both (A) and (R) are true, (R) is not the correct explanation of (A)
3. (A) is true but (R) is false
4. (A) is false but (R) is true
12. When the market rate of interest falls which one of the following will happen?
1. Bond price and bond yield, both will rise
2. Bond price and bond yield, both will fall
3. Bond price will rise and bond yield will fall✔
4. Bond price will fall and bond yield will rise
13. Assertion (A): Geometric mean is
theoretically considered as the best average to construct index numbers
Reason (R): Geometric mean is used if the range of observations are extremely large
1. Both (A) and (R) are true and (R) is the correct explanation of (A)
2. Both (A) and (R) are true, (R) is not the correct explanation of (A)✔
3. (A) is true but (R) is false
4. (A) is false but (R) is true
14. The elasticity of substitution (σ) of the production function which admits of both Hicks and Harrod neutral technical progress would be:
1. σ=0
2. σ=1✔
3. σ=∞
4. 0 < σ < 1
15. Assertion (A): In classical model
investment demand is regarded as autonomous of changes in income or employment
Reason (R): It is wage price flexibility which brings full employment in the classical model
1. Both (A) and (R) are true and (R) is the correct explanation of (A)
2. Both (A) and (R) are true, (R) is not the correct explanation of (A)
3. (A) is true but (R) is false
4. (A) is false but (R) is true✔
16. Two series are given as under
1. (a) is convergent while (b) is divergent series
2. Both (a) and (b) are convergent series✔
3. (a) is divergent while (b) is conver-gent series
4. None of (a) and (b) are convergent
17. Which of the following statements are true concerning a triangular or recursive system?
(a) The parameters can be validly
estimated using separate applications
of OLS to each equation
(b) The independent variables may be
correlated with the error terms in other
equation
(c) The application of two - stage least
squares would lead to unbiased but
inefficient parameter estimation
(d) The independent variables may be
correlated with the error terms in the
equation in which they appear as
independent variables
Choose the correct option:
1. a and d only
2. a and c only
3. a b and c only✔
4. a b c and d
18. Three statements are given as under
(a) Generalized least square (GLS) method is capable of providing BLUE in
situations where OLS fails
(b) GLS is OLS on the transformed variables that satisfy the standard least squares assumptions
(c) GLS method is suitable for dealing with multicollinearity problem
Choose the correct option:
1. a and b are correct but c is not correct✔
2. a and c are correct but b is not correct
3. a is correct but b and c are not correct
4. a is not correct but b and c are correct
19. ‘Displacement effect’ in the Peacock-Wiseman Hypothesis implies:
1. An upward displacement of public
expenditure according to higher
economic growth
2. The movement from older level of
public expenditure and taxation to a
newer and higher level✔
3. Public expenditure increases at steady rate and reaches higher level
4. Government undertakes more and
newer activities and hence public
expenditure rises steeply upwards
20. Which amongst the following is not the source of the income of RBI?
1. Interest on government bonds held for conducting open market operations
2. Income from investment in foreign
currency assets
3. Retained earnings net of dividend paid to government of India
4. Dividend on the shares of private equity held with the bank✔
21. Who is the author of the book ‘freedom as development’?
1. Gunnar Myrdal
2. F A Von Hayek
3. Amartya Sen✔
4. Paul A Samuelson
22. If in a given situation, Px=170, Pm=190 and Zx=152, then which of the following will be the value of Single Factoral Terms of Trade (Ts):
1. 136✔
2. 148
3. 84
4. 116
23.
24. Under which article of the constitution of India, President is empowered to appoint The Finance Commission
1. 279
2. 280✔
3. 281
4. 282
25. Among normal cost curves which one of the following curve does not have a minimum point?
1. Average cost
2. Marginal cost
3. Average variable cost
4. Average fixed cost ✔
26. Which one of the following institutions is related with the Green/Blue Box Subsidies?
(a) United Nations
(b) World Bank
(c) World Tourism Organisation
(d) World Trade Organization
Choose the correct option:
1. a and d
2. b and d
3. only d✔
4. only b
27. Which of the following is not an example of ‘market failure’?
1. Monopolies
2. Asymmetric information
3. Economies of scale✔
4. Externalities
28. Which one of the following is an example of positive externality?
1. Public immunizations✔
2. Increase of corporate taxes
3. Issuing extra permits for pollutions
4. Monitoring the hazards caused by
industries
29. Consider an economy with a linear
homogeneous Cobb – Douglas producti-on function with two inputs – capital and labour.The share of capital and labour are, respectively,1/3 and 2/3. The rates of growth of capital and labour are, respectively 6% and 3% per annum. If the rate of growth of output is 6% per annum, what is the rate of growth of output due to Total Factor Productivity (TFP)?
1. 1%
2. 2%✔
3. 3%
4. 4%
30. Match the following
List- I
(a) Treasury bill
(b) Commercial papers
(c) Repo rate
(d) SDRs
List – II
(i) RBI
(ii) IMF
(iii) Government
(iv) Private companies
Choose the correct option:
1. (a) – iv, (b) – iii, (c) – ii, (d) – i
2. (a) – iii, (b) – iv, (c)- ii , (d) – i
3. (a) – iii, (b) – iv, (c) – i, (d) – ii✔
4. (a) – iv, (b) – iii, (c) – i, (d) – ii
31. The inventory approach to the transaction
demand suggests that the transaction
component of demand for money is:
1. Negatively related to real wealth
2. Negatively related to real income
3. Negatively related to nominal income
4. Negatively related to interest rate✔
32. A tax of Rs. 20 per unit of imported cheese would be an example of a/an:
1. Compound tariff
2. Specific tariff✔
3. Effective tariff
4. Ad valorem tariff
33. For an exactly identified equation, the order condition that should be fulfilled is that equation must:
1. Exclude one less than the total number of endogenous variables in the model✔
2. Include one less than the total number of endogenous variables in the model
3. Include only one of the endogenous
variables in the model
4. Exclude two or more endogenous
variables
34. Identify the correct chronological order of the following
(a) Hayek theory of investment
(b) Fisher theory of investment
(c) Jorgenson’s theory of investment
(d) Markowitz theory of investment
Select the correct option:
1. b a d c✔
2. d b c a
3. c a b d
4. a c d b
35. Which one of the following statements is not correct for the textile sector in India?
1. India’s textile and clothing sector
currently employs 35 million people
2. After agriculture, it is second largest
provider of employment
3. Textile sector has a tendency to shrink as the GDP and economy grow✔
4. Textile sector is a major absorber of low skilled labour
36. Assertion (A): Inclusive growth is a must for a country like India
Reason (R): India is an open economy with a significant external sector
1. Both (A) and (R) are true and (R) is the correct explanation of (A)
2. Both (A) and (R) are true, (R) is not the correct explanation of (A)✔
3. (A) is true but (R) is false
4. (A) is false but (R) is true
37. Match the following
List –I
(a) CAPART
(b) SIDO
(c) NAFED
(d) AGMARK
List – II
(i) Agricultural marketing
(ii) Quality guarantee
(iii) Small industries
(iv) Rural technology
Choose the correct option:
1. (a) – i, (b) – ii, (c)- iii, (d) – iv
2. (a) – iv, (b) – iii, (c) – ii, (d) – i
3. (a) – iv, (b) – ii, (c) – iii, (d) – i
4. (a) – ii, (b) – iv, (c) – i, (d) – iii
Ans:None of these
38. Match the following
List A
(a) Quasi rent
(b) Planned sales curve
(c) Monopoly power
(d) Strong ordering of preferences
List B
(i) A P Lerner
(ii) P A Samuelson
(iii) A Marshall
(iv) F Chamberlin
Choose the correct option:
1. (a) – iii, (b) – iv, (c)- i, (d) – ii✔
2. (a) – iii, (b) – iv, (c) – ii, (d) – i
3. (a) – iv, (b) – iii, (c) – i, (d) – ii
4. (a) – iii, (b) – i, (c) – iv, (d) –ii
39. Match the following
List – I
(a) Fiscal deficit
(b) Budget deficit
(c) Revenue deficit
(d) Primary deficit
List – II
(i) Excess of total expenditure over
total receipts
(ii) Excess of revenue expenditure over
revenue receipts
(iii) Excess of total expenditure over
total receipts less borrowings
(iv) Excess of total expenditure over
total receipts less borrowing and
interest payments
Choose the correct option:
1. (a) – iii, (b) – i, (c) – ii, (d) – iv✔
2. (a) – i, (b) – iii, (c) – ii, (d) – iv
3. (a) – iii, (b) – i, (c) – iv, (d) – ii
4. (a) – iv, (b) – iii, (c) – ii, (d) – i
40. Friedman’s modern Quantity Theory of Money concludes that changes in aggregate spending are primarily determined by changes
in
1. The money supply✔
2. Interest rate
3. The velocity of money
4. Government spending and taxes
41. Under Normal Probability Curve the area within the range of µ - 1.96σ & µ+ 1.96σ (where µ=mean, σ=standard deviation) is :
1. 90%
2. 95%✔
3. 75%
4. 99%
42. In solvency and bankruptcy code is primarily entrusted with which of the following
1. Facilitating the recovery of government dues and debt
2. Facilitating recovery of debt given by
foreign banks to Indian companies
3. Facilitating banks recover higher
amount of bad loans than they
recovered earlier✔
4. Facilitating banks recover their dues
from the priority sector
43. Identify the method not being used for unemployment estimation by the NSSO of India
1. Current monthly status✔
2. Current daily status
3. Current weekly status
4. Usual principal and subsidiary status
44. Arrange the following theories of
international trade in chronological order
(a) Theory of opportunity cost
(b) Theory of comparative cost
(c) Factor price equalisation theorem
(d) Theory of absolute cost
Identify the correct order:
1. d b a c✔
2. c b d a
3. b d a c
4. a c d b
45. Which one of the following is not a feature of contingent valuation method?
1. It is an economic non – market based
valuation method
2. It is based on the maximum willingness to pay by the consumers
3. It is used only in case of air pollution✔
4. It is used under the condition of market failure
46. Boot strapping technique is used to:
1. Test for specification bias
2. Obtain sampling distribution of
parameters of interest✔
3. Test for auto-correlation
4. Test for normality of error terms
47. Which amongst the following is the function of SEBI?
1. Regulation of money market
2. Regulation of public debt
3. Regulation of commodity market
4. Regulation of primary and secondary
security market✔
48. Consider the following statements about the correct order of the stages of demographic transition associated with economic
development:
(a) Low birth rate with low death rate
(b) High birth rate with high death rate
(c) High birth rate with low death rate
Choose the correct option:
1. b c a✔
2. c b a
3. a b c
4. c a b
49. The problem relating to burden of public debt has been dealt by
(a) A P Lerner
(b) E D Domar
(c) A C Pigou
(d) A H Hansen
Choose the correct answer:
1. a and b
2. b and c✔
3. a and d
4. b and d
50. In which of the following models ‘Knife – edge’ problem occur?
1. Kaldor
2. Solow
3. Harrod✔
4. Swan
51. Which one of the following is correct for the money supply measure – M1 ?
1. Currency with the public + demand
deposits of Commercial banks + other
deposits at a point of time✔
2. Currency with the public + demand
deposits of banks + other deposits over
one year
3. Currency with the public + all bank deposits at a point of time
4. Currency with the public + post office deposits + other deposits at a point of time
52. For which of the following consumption function the value of the income multiplier K =4?
1. C= 100 + 0.5Y
2. C = 50 + 0.8Y
3. C= 200 + 0.75Y✔
4. C = 50 + 0.4Y
53. Assertion (A) : In order to control
inflationary tendencies, RBI raises the Repo rate
Reason (R): By so during, RBI wishes to control consumption demand
1. Both (A) and (R) are true and (R) is the correct explanation of (A)
2. Both (A) and (R) are true, (R) is not the correct explanation of (A)
3. (A) is true but (R) is false✔
4. (A) is false but (R) is true
54. Under which of the following approaches
Phillips curve analysis hold good?
(a) Adaptive expectations
(b) Rational expectations
Choose the correct option:
1. Only a✔
2. Only b
3. Both a and b
4. Neither a nor b
55. In linear programming each problem (called primal) has a dual. About duality in Linear Programming following statements are given:
(a) If a linear programming problem is maximizing type, then its dual is minimizing type
(b) Both primal and dual have same optimum value
(c) Dual of dual of a linear programming problem is primal problem
(d) If maximizing linear programming problem is with ‘’less than’’ type constraints, the dual of this problem will have ‘’more than’’ type constrains
Choose the correct option:
1. Only a and b are correct
2. Only c and d are correct
3. a b and c are correct
4. a b c and d are correct✔
56. In terms of their contribution to
Econometrics which is correct chro-nological order
1. L R Klein, H Theil, A L Nagar, T Haavelmo
2. A L Nagar, T Haavelmo, L R Klein, H Theil
3. T Haavelmo, L R Klein, H Theil, A L Nagar✔
4. H Theil, L R Klein, A L Nagar, T Haavelmo
57. Consider the following statements:
(a) The main objective of the National Agricultural Insurance Scheme (NAIS) is to protect the farmers against losses suffered by them due to crop failure on
account of national calamities
(b) The National Agricultural Insurance Scheme (NAIS) is available to all the farmers both loanee and non - loanee
irrespective of their size of holding
Which of the statements given above is/are
correct?
1. Only a
2. Only b
3. Both a and b✔
4. Neither a nor b
58. Match the following:
List –I
(a) Marginalist Revolution
(b) Multiplier- Accelerator model
(c) IS-LM curves
(d) Real business cycle
List –II
(i) Samuelson
(ii) J R Hicks
(iii) Jevous
(iv) Robert J Borro
Choose the correct option
1. (a) – iii, (b) – i, (c) – ii, (d) – iv✔
2. (a) – ii, (b) – iv, (c) – i, (d) iii
3. (a) – iii, (b) – ii, (c) – iv, (d) – i
4. (a) – i, (b) – iv, (c) – iii, (d) – ii
59. Arrange the following in chronological order
(a) The Indirect Tax Enquiry Committee (Jha Committee)
(b) Tax Reforms Committee (R J Chellaiah committee)
(c) Taxation enquiry Commission (Mathur Committee)
(d) The Direct Tax Enquiry Committee (Wanchoo Committee)
Choose the correct option:
1. c b d a
2. c a d b
3. b c a d
4. c d a b✔
60. Arrange the following in the chronological
order in which these happened:
(a) Paris Climate Agreement
(b) Rio Earth Summit
(c) Brundtland commission
(d) Kyoto Protocol
Choose the correct option:
1. a b c d
2. b d a c
3. d b c a
4. c b d a✔
Read the passage and answer the questions from Q61-Q65
61. Which of the following statement is correct?
1. There is a positive relation between
living standard and resources denoted
to industrial activity in few countries
2. There is a close association between
living standards and resources utilized
3. The relation between the living
standards and resources denoted to
industrial activity is globally true✔
4. There is little association between living standards and resources utilized
62. Dynamic economies of scale do not
include which one of the followings:
1. Induced effect of output growth on
capital accumulation
2. Improvement in quality of capital due to new technology
3. The labour intensive sector will
experience increasing returns will
growth of output✔
4. A shift from less productive to more
productive sector will lead to a rise in
the average product of labour
Q63. Consider the following statements:
(a) The association between growth of
industry and growth of GDP, make
industry the ‘engine of growth’
(b) Differences in GDP growth do not
account for growth in labour
productivity
(c) GDP growth rate are reflected in the
growth rate of labour productivity
(d) The growth of industry is subject to
increasing returns
Choose the correct option:
1. a b and c
2. a and c✔
3. b c and d
4. b and d
64. Which one of the following statement is not correct for middle and highly developed countries?
1. These devote on an average 30% of the resources to industrial activity
2. Growth of industrial activity involves
shift of resources from agriculture to
industry
3. Shift of resources is uniform between
agriculture industry and higher order
services for higher growth✔
4. Australia, Canada, and New Zealand
have developed due to growth of
agriculture alone
65. Consider the following statements in relation to the figure.
(a) The 45o line would indicate equal
correspondence between industrial
growth rate and GDP growth rate
(b) GDP growth rate is the cause of
industrial growth rate
(c) The excess of industrial growth rate
over GDP growth rate is fuelling more
GDP
(d) The dividing line of slow and fast
growing economies is the industrial
growth rate of 3.9%
Choose the correct option:
1. Only a and c are true✔
2. Only a and b are true
3. Only a b and d are true
4. Only b and d are true
Read the following passage and answer from Q66 – Q70
for states in India?
1. 42-69✔
2. 57-68
3. 42-57
4. 42-68
67. Which of the following is not correct about the SDGs Index constructed by NITI Aayog?
1. It include 13 SDGs
2. It has 62 indicators
3. Goals 12,14 are excluded from it
4. The range of the index is 0 to 1✔
68. Which of the following is not true for the Sustainable Development Goals (SDGs)
1. Poverty and inequality
2. Climate change
3. Millennium Development Goals✔
4. Sustainable consumption
69. The SDG Index of NITI Aayog classifies the states/UTs into different categories. Match the category with the respective score: Category
(a) Performers
(b) Aspirants
(c) Front-Runners
(d) Achievers
Score
(i) 50-64
(ii) ≥ 65
(iii) 100
(iv) < 50
Choose the correct option:
1. (a) – iv, (b) – i, (c) – iii, (d) – ii
2. (a) – ii, (b) – iii, (c) – i, (d) – iv
3. (a) – i, (b) – iv, (c) – ii, (d) – iii✔
4. (a) – iii, (b) – ii, (c) – iv, (d) – i
70. Which of the following Government of India’s schemes contribute to India’s progress towards the SDGs?
(a) Swachh Bharat Mission
(b) Pradhan Mantri Ujjwala Yojana
(c) Pradhan Mantri Saubhagya Yojana
(d) Pradhan Mabtri MUDRA Yojana
Choose the correct option:
1. a and b✔
2. a and c
3. c and d
4. b and d
71. Harrod’ s growth model is given as under
St = aYt 0 < a < 1
It = b(Yt – Yt-1) b>0
St = It
In the model, growth condition is
1. b/(b-a) > 0 ✔
2. b/(b-a) < 0
3. a/b-a > 0
4. a/b-a < 0
72. Arrange in chronological order the following economists in relation to their contribution to the theory of con-sumer behaviour. Choose the correct answers
1. A. Marshall , R Stone, P Samuelson, J R.Hicks and R G D Allen
2. R Stone, P Samuelson, J R Hicks and R G D Allen and A Marshall
3. P Samuelson, J R Hicks and R G D Allen,R Stone and A Marshall
4. A Marshall, J R Hicks, R G D Allen, P
Samuelson and R Stone✔
73. Assertion : For certain goods, the
expenditure by the consumer decreases.
Reason: For such goods, the income elasticity of demand is high
1. Both (A) and (R) are true and (R) is the correct explanation of (A)
2. Both (A) and (R) are true, (R) is not the correct explanation of (A)
3. (A) is true but (R) is false✔
4. (A) is false but (R) is true
74. Assertion (A): CES production function covers large class of produc-tion functions
Reason (R) : CES production function has the property of constancy of elasticity of factor substitution
1. Both (A) and (R) are true and (R) is the correct explanation of (A)✔
2. Both (A) and (R) are true, (R) is not the correct explanation of (A)
3. (A) is true but (R) is false
4. (A) is false but (R) is true
75. Which of the following is the correct sequence in the ascending order of the magnitude?
1. Repo rate, Reverse Repo rate, Statutory Liquidity rate (SLR) and Marginal Standing Facility Rate (MSFR)
2. SLR, MSFR, Repo rate, Reverse Repo
rate
3. Repo rate, SLR, MSFR, Reverse Repo
rate
4. Reverse Repo rate, Repo rate, MSFR,
SLR✔
76. Match the following
List I
(a) Forward exchange
(b) Hedging
(c) Arbitrage
(d) Specie Point
List II
(i) A device of covering exchange risk
against the price rise of foreign
currency
(ii) A contract to buy and sell foreign
exchange against another currency
at some fixed rate in the future at a
price agreed upon now.
(iii) The movement of exchange rate
between two limits set by the cost of moving gold from one country to
another
(iv) A mechanism which makes two
markets that are physically separate,
a single market in economic sense
Choose the correct option
1. (a) –ii, (b) – i, (c) – iv, (d) – iii✔
2. (a) – ii, (b) – iii, (c) – iv, (d) – i
3. (a) – iv, (b) – i, (c) – ii, (d) – iii
4. (a) – iv, (b) – iii, (c) – ii, (d) – i
77. The ‘Compensation Criterion’ which says that state A is socially preferable to state B, if those who gain from the change can compensate the loosers and yet end up with surplus welfare gain is attributed to :
1. W Pareto
2. N Kaldor✔
3. T Scitovsky
4. Bergson
78. Which amongst the following market forms leads to most efficient allocation of resources?
1. Monopolistic Competition
2. Monopoly
3. Oligopoly
4. Perfect Competition✔
79. For oil importing countries, the increase in oil prices in 1970’s and mid 2000 contributed to which of the following:
(a) Improving terms of trade
(b) Balance of trade deficits
(c) Price inflation
(d) Constrained economic growth
Choose the correct option
1. (a) (b) and (c) only
2. (b) (c) and (d) only✔
3. (c) (d) and (a) only
4. (a) and (d) only
80. Match the following
List I
(a) Head count ratio
(b) Poverty Gap
(c) Square of poverty gap
(d) Multi dimensional poverty index
List II
(i) Extent of poverty
(ii) Depth of poverty
(iii) Poverty as deprivation
(iv) Severity of poverty
Choose the correct answer:
1. (a) – ii, (b) – i, (c) – iv, (d) – iii
2. (a) – iii, (b) – ii, (c) – i, (d) – iv
3. (a) – i, (b) – iii, (c) – ii, (d) – iv
4. (a) – i, (b) – ii, (c) – iv, (d) – iii✔
81. The phenomenon of ‘Demographic
Dividend’ is related to which of the following?
1. An increase in sex rate
2. An increase in the share of female
population
3. A decline in TFR
4. An increase in the share of working age population✔
82. Heckscher - Ohlin trade model
maintains that:
1. Comparative advantage determines the distribution of gains from trade
2. A country exports goods for which its
resource endowments are most suited✔
3. Absolute Advantage Theory deter-mines the distribution of the gains from trade
4. The division of labour is limited by the size of the world market
83. Which among the following is not
associated with the Optimum Theory of
Population?
1. T R Malthus✔
2. H Dalton
3. E Cannon
4. Carr – Saunders
84. Arrange the following events in
chronological order
(a) First phase of nationalization of
commercial banks
(b) Establishment of Narashiman
committee on banking system
(c) Enactment of FEMA act
(d) Establishment of EXIM bank of India
Choose the correct option:
1. a c d b
2. a d b c✔
3. a c b d
4. a d c b
85. On which date and year GST become
effective in India?
1. 1st April 2017
2. 1st January 2017
3. 1st July 2017✔
4. 1st March 2018
86. For Cobb - Douglas production function Q= 100 L^0.7 K^0.3.
Which of the following is not true?
Which of the following is not true?
1. It is a linear homogenous function
2. It is characterized by constant returns to scale
3. It is having zero elasticity of factor substitution✔
4. It is characterized by unit elasticity of substitution
87. Choose the correct option for which the allocation of inputs is technically efficient?
(a) Output of one good cannot be
decreased without increasing the
output of another good
(b) Consumption of one good cannot be
increased without decreasing the
consumption of another good
(c) Consumer attains maximum satisfaction
Choose the correct option:
1. (b) only
2. (a) only✔
3. Both (a) and (c)
4. Both (b) and (c)
88. Which among the following are the main pillars of the BASEL III norms?
(a) Minimal capital requirements
(b) Supervisory review process
(c) Market discipline
(d) Maximizing return on capital
Choose the correct option:
1. a, b and c only✔
2. a and d only
3. b and c only
4. b c and d only
89. The elements given below are some of the parts of the M4 money supply of Indian economy
(a) Broad money (M3)
(b) All deposits with the post office savings bank
(c) National savings certificate
Choose the correct option which const-itute M4
1. Only a and b✔
2. Only b and c
3. Only a and c
4. a, b, and c
90. Which trade policy results in the
government levying both a specific tariff and an advalorem tariff on imported goods?
1. Effective tariff
2. Revenue tariff
3. Compound tariff✔
4. Nominal tariff
91. Kaldor’s growth model incorporates some of the following assumptions
(a) Total savings include savings out wages and savings out of profits
(b) Marginal propensity to save out of
wages is equal to the marginal
propensity to save out of profits
(c) Output consists of wages and profits
(d) There is less than full employment
Choose the correct option
1. a and b
2. b and c
3. c and d
4. a and c✔
92. Assertion (A): Intellectual Property Rights were brought into the Uruguay Round Trade Negotiations
Reason (R): International trade restrictions can be used to discourage the violation of intellectual property rights
1. Both (A) and (R) are true and (R) is the correct explanation of (A)
2. Both (A) and (R) are true, (R) is not the correct explanation of (A)✔
3. (A) is true but (R) is false
4. (A) is false but (R) is true
93. Incidence of refers to
1. Whether a tax is progressive, proportional or regressive
2. An authority which collects the tax
3. The person or group who ultimately
pays the tax✔
4. How a tax is collected
94. Which is correct chronological order of Economists contributing to input - output analysis?
1. Hawkins – Simon, Leontief, Karl Marx, Quesnay
2. Karl Marx, Quesnay, Leontief, Hawkins - Simon
3. Quesnay, Karl Marx, Leontief , Hawkins - Simon✔
4. Leontief, Hawkins-Simon, Karl Marx,
Quesnay
95. Consider the following statements
(I) Preferring to a certain income to a risky income with the same level of expected value lead to a risk averse behaviour
(II) Being indifferent between a certain
income and uncertain income with the
same level of expected value leads to
risk averse behaviour
Which of the statements is/are true?
1. Both I and II
2. Neither I nor II
3. Only I is true✔
4. Only II is true
96. Arrange in chronological order of the following contributions of economists in theory of consumer. Choose the correct answer
1. Linear expenditure system, Revealed
preference theory, cardinal theory,
ordinal theory
2. Cardinal theory, ordinal theory,
revealed preference theory, linear
expenditure system✔
3. Cardinal theory, revealed preference
theory, ordinal theory, Linear expen-diture system
4. Revealed preference theory, cardinal
theory, linear expenditure theory,
ordinal theory
97. The whole burden of tax will be borne by the consumer if
1. The demand for commodity is perfectly elastic and supply is perfectly inelastic
2. The elasticity of demand for a
commodity is same as the elasticity of
supply of the commodity
3. The demand for a commodity is
inelastic and supply is perfectly elastic✔
4. The elasticity of demand for a
commodity is less than the elasticity of
supply of that commodity
98. Given the saving function S= -20 + 0.2Y and autonomous investment (I) = Rs. 100 million, the equilibrium of level of consumption would be
1. 500✔
2. 600
3. 400
4. 700
99. Arrange the following books in correct chronological order
(a) Das Capital
(b) Value and Capital
(c) Capital and Growth
(d) Accumulation of capital
Choose the correct option:
1. d b c a
2. a b d c
3. a b c d✔
4. b a d c
100. Match the following
List – I
(a) E Cannon
(b) Frank Netstein
(c) Brundtland
(d) Ronald Coase
List – II
(i) Optimum population
(ii) Transaction costs
(iii) Demographic transition
(iv) Sustainable development
Choose the correct option
1. (a) – i, (b) – ii, (c) – iii, (d) – iv
2. (a) – ii, (b) – i, (c) – iv, (d) – iii
3. (a) – i, (b) – iii, (c) – iv, (d) – ii✔
4. (a) – iii, (b) – iv, (c) – ii, (d) – i
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