Investigator Grade II (Economics and Statistics)
Exam Date: 4.6.2022
(A) Zero
(B) Infinity
(C) One
(D) 0 < es < 1
Ans) C
2. Point of inflexion is the point at which
(A) marginal product increases.
(B) marginal product decreased.
(C) marginal product is at its maximum.
(D) marginal product becomes zero.
Ans) C
3. If two goods were perfect complements, their indifference curves would be-
(A) Right angle
(B) Parabolic
(C) Straight lines
(D) Rectangular hyperbolas
Ans) A
4. For a Giffen good
(A) Negative substitution effect outweighs positive income effect
(B) Positive income effect outweighs negative substitution effect
(C) Negative income effect outweighs positive substitution effect
(D) Positive substitution effect outweighs negative income effect
Ans) C
5. The optimum capital stock is achieved when the user cost of capital is equal to
(A) The interest rate
(B) The depreciation rate
(C) Tobin's Q
(D) The marginal product of capital
Ans) D
6. Non-Accelerating Inflation Rate of Unemployment (NAIRU) means :
(A) A rate of inflation which makes the rate of unemployment zero.
(B) A rate of unemployment for which change in the rate of inflation is zero.
(C) A rate of inflation for which the change in the rate of unemployment is zero.
(D) A rate of unemployment which is equal to the rate of inflation.
Ans) B
7. Which amongst the following is not correctly matched ?
(A) New Classical Economics – Robert Lucas
(B) Multiple effect of Balanced Budget – T.H. Haavelmo
(C) New Keynesian Economics – Paul Romer
(D) Permanent Income Hypothesis – M. Friedman
Ans) C
8. The negative relationship between the gap between actual GNP and its trend and the difference between actual unemployment rate and its equilibrium value is called-
(A) The Aggregate Supply Curve
(B) Okun's Law
(C) The Natural Rate of Unemployment
(D) The Phillips Curve
Ans) B
9. If the mean and variance of a given distribution is 8 and 0.25, the coefficient of variation will be
(A) 4.75 per cent
(B) 7.25 per cent
(C) 5.75 per cent
(D) 6.25 per cent
Ans) D
10. What is the meaning of the term “heteroscedasticity” ?
(A) The variance of the error term is not constant.
(B) The variance of dependent variable is not constant.
(C) The errors are not linearly independent of one another.
(D) The errors have non-zero mean.
Ans) A
11. Given the arithmetic mean = 45, mode = 48, the median =
(A) 45
(B) 46
(C) 47
(D) 48
Ans) B
12. The analysis of variance (ANOVA) is carried out by using
(A) t-test
(B) Z-test
(C) Chi-square-test
(D) F-test
Ans) D
13. In Solow's growth model, the output per capita is a function of
(A) Labour-output ratio
(B) Capital-output ratio
(C) Capital-labour ratio
(D) Technical progress
Ans) C
14. “The absorption approach” of analyzing balance of payments was formulated by
(A) M. Friedman
(B) Marshall and Learner
(C) Haberler
(D) Sydney Alexander
Ans) D
15. The ability to pay principle of taxation is logically most consistent with the normative notion of
(A) Tax Neutrality
(B) Vertical equity
(C) Value-added taxation
(D) Horizontal equity
Ans) B
16. The basic rationale of the theory of "Big-Push" is based on the idea of
(A) Size of population
(B) Internal Economies
(C) External Economies
(D) All of the above
Ans) C
17. Who is the author of the book “Capital in the Twenty First Century” ?
(A) Joseph Stiglitz
(B) Amartya Sen
(C) Jagdish Bhagwati
(D) Thomas Piketty
Ans) D
18. The balance of payment in the current account balance is also known as
(A) Capital transfer
(B) Visible Trade Balance
(C) Gain from trade
(D) None
Ans) B
19. As per tax proposal of Union Budget 2022-23 any income from transfer of any virtual digital asset, such as crypto currencies, shall be taxed at the rate of
(A) 10 per cent
(B) 20 per cent
(C) 30 per cent
(D) 35 per cent
Ans) C
20. Who is the Chairman of 15th Finance Commission ?
(A) Y.V. Reddy
(B) Urjit Patel
(C) N.K. Singh
(D) C. Rangarajan
Ans) C
(*Based on provisional answer key)
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