A) MRTx,y = MCx/MCy
B) MRTx,y = MRSx,y
C) MRTx,y = MRSx,y = Px/Py
D) None of the above
Ans) A
(2) Consider the following statements regarding the expansion path of a firm :
I. It shows least cost combination for producing different level of outputs.
II. The input prices remain constant.
Of the above which statement is/are true ?
Answer from the codes given below :
Codes :
A) Both I and II are true.
B) Only I is true.
C) Only II is true.
D) Neither I nor II is true.
Ans) A
(3) The First Fundamental Theorem of Welfare Economics requires -
A) Producers and consumers to be price takers.
B) That the economy operate at some point on the utility possibility curve.
C) That there be an efficient market for every commodity.
D) All of the above.
Ans) D
(4) Which among the following allocation/distribution corresponds to Rawlsian concept of equity ?
A) All members of the society receive equal amount of goods.
B) Maximise the utility of the least well off people.
C) Market outcomes are most equitable.
D) Maximse the total utility of all members of the society.
Ans) B
(5) Under discriminating monopoly, if the elasticity of demand in market-I is 2 and in market-II, it is 1, (elasticities being in absolute terms) then the price behaviour of the monopolist will be :
A) To charge a higher price in Market-I
B) To charge a higher price in market-II
C) To charge the same price in both the markets
D) In, market-I, charge double the price of that is charged in Market-II
Ans) B
(6) Given the demand function :
Q=20/P, where symbols have their usual meaning, at which price, the elasticity of demand would be unity ?
A) 20
B) 10
C) 5
D) All of the above
Ans) D
(7) The idea of indicative planning was first adopted in which Five Year Plan of India ?
A) Second plan
B) Fifth plan
C) Seventh plan
D) Eighth plan
Ans) D
(8) Match the following from the lists given below :
List-I
a. National Rural Employment Programme (NREP)
b. Sukanya Samridhi Yojana (SSY)
c. Food for Work Programme (FWP)
d. Rural Landless Employment Guarantee Programme (RLEGP)
List-II
i. 2001 ii. 1980 iii. 1983 iv. 2015
Select the correct codes :
Codes :
a b c d
A) iv iii ii i
B) i ii iv iii
C) ii iv i iii
D) iii ii iv i
Ans) C
(9) R.B.I can print currency notes upto the value of :
A) ₹25,000
B) ₹10,000
C) ₹5,000
D) ₹1,000
Ans) B
(10) 'Paramparagat Krishi Vikas Yojana' aims to boost :
A) Drip irrigation
B) Organic farming
C) Horticulture crops
D) Vegetable production
Ans) B
(11) Classical dichotomy refers to which one of the following ?
A) There are two sectors of the economy, namely, agriculture and industry.
B) Influence of money is not on the real variables like employment and output but on price level.
C) Savings come only from profits and not from the wages.
D) All of the above
Ans) B
(12) The basic rationale of the theory of 'Big-Push' is based upon the idea of -
A) Size of population
B) External economies
C) Internal economies
D) None of the above
Ans) B
(13) In the Harrod-Domar equation g=s/v, where v is defined as :
A) The value of country's capital stock
B) International capital output ratio
C) The change in country's capital stock
D) None of the above
Ans) B
(14) Leibenstein in his critical minimum effort thesis treats population as a factor that is -
A) Investment-inducing
B) Income-generating
C) Market-expanding
D) Income-depressing
Ans) D
(15) Who among the following economists was not associated with the Dependency Theory of Development ?
A) Raul Prebisch
B) T.D. Santos
C) Andre Gunder Frank
D) Gunnar Myrdal
Ans) D
(16) The saving function used in the neo-classical growth model is a :
A) Classical saving function
B) Proportional saving function
C) Differential saving function
D) Constant saving function
Ans) B
(17) Consider the following items in the balance of payment in India
I. NRI deposits
II. Remittances
Which among the above is/are part of the capital account of balance of payments?
Answer from the codes below :
Codes :
A) Only I above
B) Only II above
C) Both I and II above
D) Neither I nor II above
Ans) A
(18) Which of the following pairs is not correctly matched ?
A) Taussing : Barter Terms of Trade
B) Prebisch : Deteriorating Terms of Trade
C) Marshal : Offer curves
D) Walras : Dumping conditions
Ans) D
(19) Which among the following is correct for the discretionary fiscal action ?
A) Payment of unemployment insurance.
B) Payment of social security to the retired individuals.
C) A managed change in level of Government spending and/or net tax revenues.
D) Automatic changes in net tax revenues that result from income tax structure.
Ans) C
(20) Who among the following called trade as the'hand maiden' of growth ?
A) J. Viner
B) Irwing B. Kravis
C) Ann Kruger
D) J. Bhagwati
Ans) B
0 Comments