d-0109 test booklet no. - university grants … (economics).pdfpaper-ii 2 d-0109 economics paper –...

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�ÖÖ�Ñ�Öê �

1. Write your roll number in the space provided on the top ofthis page.

2. This paper consists of fifty multiple-choice type of questions.

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D-0109 P.T.O.

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D-0109

PAPER-II

Test Booklet No.

[Maximum Marks : 100Time : 1 1/4 hours]

Number of Pages in this Booklet : 24 Number of Questions in this Booklet : 50

Instructions for the Candidates ¯Ö üß�ÖÖÙ£ÖµÖÖë �êú ×»Ö� ×Ö¤ìü¿Ö

(In figures as per admission card)

A B C D A B C D

ECONOMICS

D-0109 1 P.T.O.

Paper-II 2 D-0109

ECONOMICS

Paper – II

Note : This paper contains fifty (50) objectives type questions, each question carrying two

(2) marks. Attempt all the questions.

1. The Law of Diminishing Returns to Scale holds true in the

(A) Market - Period (B) Short - Period

(C) Long - Period (D) Secular - Period

2. The demand for labour by a firm is a derived demand because it depends upon

(A) The demand for goods and services that labour helps to produce.

(B) The degree of substitution between labour and other factors of production.

(C) The elasticity of demand for labour.

(D) The demand for other factors of production.

3. Social Welfare Function is assumed

(A) Theoretically (B) Axiomatically

(C) Hypothetically (D) Empirically

4. In the classical theory, an increase in money supply leads to

(A) Decrease in price level. (B) Increase in savings.

(C) Decrease in investment. (D) Increase in price level.

5. Shift in LM curve takes place due to

(A) Increase in autonomous investment.

(B) Increase in money supply.

(C) Increase in consumption.

(D) Increase in saving rate.

6. The Phillips Curve shows the relation between

(A) Income and consumption. (B) Income and price level.

(C) Income and investment. (D) Inflation and unemployment.

7. Rolling Plan Concept was propounded by

(A) Gunnar Myrdal (B) J.K. Galbraith

(C) Paul A. Samuelson (D) A.K. Sen

8. The ‘Incremental Capital-Output Ratio’ is symbolically written as

(A) K / L (B) ∆K / ∆L

(C) ∆K / ∆Y (D) K / Y

D-0109 3 Paper-II

†£ÖÔ¿ÖÖÃ¡Ö ¯ÖÏ¿−Ö¯Ö¡Ö – II

−ÖÖê™ü : ‡ÃÖ ¯ÖÏ¿−Ö¯Ö¡Ö ´Öë ¯Ö“ÖÖÃÖ (50) ²ÖÆãü-×¾Ö�ú»¯ÖßµÖ ¯ÖÏ¿−Ö Æïü … ¯ÖÏŸµÖê�ú ¯ÖÏ¿−Ö �êú ¤üÖê (2) †Ó�ú Æïü … ÃÖ³Öß ¯ÖÏ¿−ÖÖë �êú ˆ¢Ö¸ü ¤ëü …

1. ¯Öî ÖÖ−Öê �úÖ ÈüÖÃÖ´ÖÖ−Ö ¯ÖÏ×ŸÖ±ú»Ö ×−ÖµÖ´Ö ×�úÃÖ �úÖ»Ö ´Öë »ÖÖ%Öæ ÆüÖêŸÖÖ Æîü ?

(A) ²ÖÖ•ÖÖ¸ü-�úÖ»Ö (B) †»¯Ö-�úÖ»Ö (C) ¤üß‘ÖÔ-�úÖ»Ö (D) ÃÖã¤üß‘ÖÔ�úÖ»Ö

2. ÁÖ´Ö �êú ×»Ö‹ ±ú´ÖÔ �úß ´ÖÖÓ%Ö ¾µÖãŸ¯Ö−−Ö ´ÖÖÓ%Ö Æîü ŒµÖÖë×�ú ¾ÖÖê ×−Ö´−ÖÖÓ×�úŸÖ ¯Ö¸ü ×−Ö³ÖÔ ü Æîü : (A) ¾ÖÃŸÖã†Öë ‹¾ÖÓ ÃÖê¾ÖÖ†Öë, ×•Ö−Ö�úÖ ˆŸ¯ÖÖ¤ü−Ö �ú¸ü−Öê ´Öë ÁÖ´Ö ´Ö¤ü¤ü �ú¸üŸÖÖ Æîü, �úß ´ÖÖÓ%Ö (B) ÁÖ´Ö †Öî ü ˆŸ¯ÖÖ¤ü−Ö �êú †−µÖ �úÖ¸ü�úÖë �êú ²Öß“Ö ¯ÖÏ×ŸÖÃ£ÖÖ¯Ö−Ö �úß ×›ü%ÖÏß (C) ÁÖ´Ö �úß ´ÖÖÓ%Ö �úß »ÖÖê“Ö (D) ˆŸ¯ÖÖ¤ü−Ö �êú †−µÖ �úÖ¸ü�úÖë �úß ´ÖÖÓ%Ö 3. ÃÖÖ´ÖÖ×•Ö�ú �ú»µÖÖ:Ö ±ú»Ö−Ö �úß ´ÖÖ−µÖŸÖÖµÖë (A) ÃÖî üÖÛ−ŸÖ�ú Æïü … (B) †×³Ö%ÖéÆüßŸÖßµÖ Æïü … (C) ¯ÖÏÖŒ�úÖ»¯Ö×−Ö�ú Æïü … (D) †Ö−Öã³Ö×¾Ö�ú Æïü … 4. Œ»ÖÖÃÖß�ú»Ö ×ÃÖ¨üÖ−ŸÖ ´Öë, ´Öã¦üÖ †Ö¯ÖæÙŸÖ ´Öë ¾Öé×¨ü ×�úÃÖ †Öê ü ¯ÖÏ¾Öé¢Ö �ú¸üŸÖß Æîü ? (A) �úß´ÖŸÖ ÃŸÖ¸ü ´Öë ×%Ö¸üÖ¾Ö™ü (B) ²Ö“ÖŸÖÖë ´Öë ¾Öé×¨ü (C) ×−Ö¾Öê¿Ö ´Öë �ú´Öß (D) �úß´ÖŸÖ ÃŸÖ¸ü ´Öë ¾Öé×¨ü 5. LM ¾Ö�Îú ´Öë ×DÖÃÖ�úÖ¾Ö ×�úÃÖ �úÖ¸ü:Ö ÆüÖêŸÖÖ Æîü ? (A) Ã¾ÖÖµÖ¢Ö ×−Ö¾Öê¿Ö ´Öë ¾Öé×¨ü (B) ´Öã¦üÖ �úß †Ö¯ÖæÙŸÖ ´Öë ¾Öé×¨ü (C) ˆ¯Ö³ÖÖê%Ö ´Öë ¾Öé×¨ü (D) ²Ö“ÖŸÖ �úß ¤ü¸ü ´Öë ¾Öé×¨ü 6. ×±ú×»Ö¯Ö ¾Ö�Îú ×�ú−Ö�êú ²Öß“Ö ÃÖ´²Ö−¬Ö ¤ü¿ÖÖÔŸÖß Æîü ? (A) †ÖµÖ †Öî ü ˆ¯Ö³ÖÖê%Ö (B) †ÖµÖ †Öî ü �úß´ÖŸÖ ÃŸÖ¸ü (C) †ÖµÖ †Öî ü ×−Ö¾Öê¿Ö (D) ´Öã¦üÖ Ã±úß×ŸÖ †Öî ü ²Öê üÖê•Ö%ÖÖ¸üß 7. ¸üÖêØ»Ö%Ö ¯»ÖÖ−Ö �úß †¾Ö¬ÖÖ¸ü:ÖÖ ×�úÃÖ�êú «üÖ¸üÖ ¯ÖÏ×ŸÖ¯ÖÖ×¤üŸÖ �úß %Ö‡Ô ? (A) %Öã−−ÖÖ¸ü ×´Ö›üÖÔ»Ö (B) •Öê.�êú. %ÖÖò»Ö²ÖÎê£Ö (C) ¯ÖÖò»Ö ‹. ÃÖî µÖã»ÖÃÖ−Ö (D) ‹.�êú. ÃÖê−Ö 8. ‘¾Ö Ôü´ÖÖ−Ö ¯ÖæÓ•Öß - ˆŸ¯ÖÖ¤ü−Ö †−Öã¯ÖÖŸÖ ’ ¯ÖÏŸÖß�úÖŸ´Ö�ú ºþ¯Ö ÃÖê �îúÃÖê ×»ÖDÖÖ •ÖÖŸÖÖ Æîü ?

(A) K / L (B) ∆K / ∆L

(C) ∆K / ∆Y (D) K / Y

Paper-II 4 D-0109

9. The doctrine of unbalanced growth has not been advocated by

(A) H.W. Singer (B) W.A. Lewis

(C) A.O. Hirschman (D) C.P. Kindleberger

10. Which group represents the interests of the developing countries ?

(A) G – 7 (B) G – 10

(C) G – 77 (D) G – 80

11. Funds not belonging to the Government are called

(A) Contingency Fund (B) Consolidated Fund

(C) Private Accounts (D) Public Accounts

12. The Deficit Budget in which the deficits are covered through taxes is called

(A) Balanced Budget (B) Unbalanced Budget

(C) Surplus Budget (D) Zero-base Budget

13. Raul Prebisch’s argument is concerned with the effects of business cycles on

(A) Terms of Trade (B) Balance of Payments

(C) Output (D) Consumption

14. The difference between the export and import of services is called

(A) Balance of Trade.

(B) Balance of Invisibles.

(C) Balance of Current account.

(D) Balance of Capital account.

15. Public Enterprises in India have developed only in

(A) Consumer goods industries

(B) Key and basic industries

(C) Service industries

(D) All types of industries

16. According to Economic Survey 2007-08, India’s Current Account balance as percent of

GDP in 2006-07 stood at

(A) –3.3 (B) –2.1

(C) –1.1 (D) – 0.4

D-0109 5 Paper-II

9. †ÃÖ−ŸÖã×»ÖŸÖ ÃÖÓ¾Öé×¨ü �êú ×ÃÖ¨üÖ−ŸÖ �úß ×Æü´ÖÖµÖŸÖ ×�úÃÖ−Öê −ÖÆüà �úß ?

(A) ‹“Ö. ›ü²»µÖæ. ØÃÖ%Ö¸ü (B) ›ü²»µÖæ. ‹. »Öê×¾ÖÃÖ

(C) ‹. †Öê. ÆüÂÖÔ Öî−Ö (D) ÃÖß.¯Öß. Ø�ú›ü»Ö²Ö%ÖÔ ü

10. ×¾Ö�úÖÃÖ¿Öß»Ö ¤êü¿ÖÖë �êú ×ÆüŸÖÖë �úÖ ¯ÖÏ×ŸÖ×−Ö×¬ÖŸ¾Ö �úÖî−Ö ÃÖÖ ÃÖ´ÖæÆü �ú¸üŸÖÖ Æîü ?

(A) G - 7 (B) G - 10

(C) G - 77 (D) G - 80

11. •ÖÖê ×−Ö×¬ÖµÖÖÑ ÃÖ¸ü�úÖ¸ü �úß ÃÖ´¯Ö×¢Ö −ÖÆüà Æïü, ŒµÖÖ �úÆü»ÖÖŸÖß Æïü ?

(A) †Ö�úÛÃ´Ö�úŸÖÖ ×−Ö×¬Ö (�úÖêÂÖ) (B) ÃÖ´Öê×�úŸÖ ×−Ö×¬Ö

(C) ×−Ö•Öß »ÖêDÖÖ (D) ÃÖÖ¾ÖÔ•Ö×−Ö�ú »ÖêDÖÖ

12. ×•ÖÃÖ ‘ÖÖ™êü �êú ²Ö•Ö™ü ´Öë ‘ÖÖ™êü �úÖê �ú¸üÖë �êú •Ö×¸üµÖê ¯Öæ üÖ ×�úµÖÖ •ÖÖŸÖÖ Æîü ŒµÖÖ �úÆü»ÖÖŸÖÖ Æîü ?

(A) ÃÖÓŸÖã×»ÖŸÖ ²Ö•Ö™ü (B) †ÃÖÓŸÖã×»ÖŸÖ ²Ö•Ö™ü

(C) †×ŸÖ¸êü�ú µÖÖ ¸üÖê�ú›Íü ²ÖÖ�úß ²Ö•Ö™ü (D) ¿Öæ−µÖ-†Ö¬ÖÖ¸ü (•ÖÌß¸üÖê-²ÖêÃÖ) ²Ö•Ö™ü

13. ¸üÖò»Ö ¯ÖÏê×²Ö¿Ö �úÖ ŸÖ�Ôú, ×�úÃÖ ¯Ö¸ü, ¾µÖÖ¯ÖÖ¸ü “Ö�ÎúÖë �êú ¯ÖÏ³ÖÖ¾ÖÖë ÃÖê ÃÖ´²Ö×¨üŸÖ Æîü ?

(A) ¾µÖÖ¯ÖÖ¸ü �úß ¿ÖŸÖí (B) ³Öã%ÖŸÖÖ−Ö ÃÖÓŸÖã»Ö−Ö

(C) ˆŸ¯ÖÖ¤ü−Ö (D) ˆ¯Ö³ÖÖê%Ö

14. ÃÖê¾ÖÖ†Öë �êú ×−ÖµÖÖÔŸÖ †Öî ü †ÖµÖÖŸÖ �êú ²Öß“Ö †−ŸÖ ü ŒµÖÖ �úÆü»ÖÖŸÖÖ Æîü ?

(A) ¾µÖÖ¯ÖÖ¸ü ÃÖÓŸÖã»Ö−Ö

(B) †¥ü¿µÖ “Öß•ÖÖë �úÖ ¿ÖêÂÖ

(C) “ÖÖ»Öæ DÖÖŸÖê �úÖ ¿ÖêÂÖ

(D) ¯ÖæÑ•Öß%ÖŸÖ DÖÖŸÖê �úÖ ¿ÖêÂÖ

15. ³ÖÖ¸üŸÖ ´Öë ÃÖÖ¾ÖÔ•Ö×−Ö�ú ˆª´ÖÖë �úÖ ×¾Ö�úÖÃÖ ×ÃÖ±Ôú ______ ˆªÖê%ÖÖë ´Öë Æãü†Ö Æîü …

(A) ˆ¯Ö³ÖÖêŒŸÖÖ ¾ÖÃŸÖã†Öë �êú ˆªÖê%Ö

(B) ´ÖãDµÖ †Öî ü ´Öæ»Ö³ÖæŸÖ ˆªÖê%Ö

(C) ÃÖê¾ÖÖ ˆªÖê%Ö

(D) ÃÖ³Öß ¯ÖÏ�úÖ¸ü �êú ˆªÖê%Ö

16. 2007-08 �êú †ÖÙ£Ö�ú ÃÖ¾Öì_Ö:Ö �êú †−ÖãÃÖÖ¸ü, 2006-07 ´Öë ³ÖÖ¸üŸÖ �úÖ “ÖÖ»Öæ DÖÖŸÖÖ ¿ÖêÂÖ GDP �úÖ ŒµÖÖ ¯ÖÏ×ŸÖ¿ÖŸÖ £ÖÖ ?

(A) – 3.3 (B) – 2.1

(C) – 1.1 (D) – 0.4

Paper-II 6 D-0109

17. The overall production of foodgrains in India in 2006-07 was

(A) 207.3 million tonnes (B) 217.3 million tonnes

(C) 270.8 million tonnes (D) 227.8 million tonnes

18. On Current Daily Status (CDS) basis, the incidence of unemployment in India in

2004-05 was

(A) 4.52% (B) 6.43%

(C) 8.28% (D) 10.12%

19. The statistical technique used to determine the degree of relationship between two

variables is called

(A) Dispersion (B) Index Numbers

(C) Association (D) Correlation

20. Which Index Number method has an upward bias ?

(A) Laspeyre’s method (B) Paasche’s method

(C) Bowley’s method (D) Fisher’s method

Note : Consider the following statements and select the correct answer from the codes given

below for questions 21 to 30. (Assertion and Reason type item)

21. Assertion (A) : The rate of fall of MR is more than that of AR in the event of their

falling.

Reason (R) : Both MR and AR curves are linear and negatively sloping.

(A) Both (A) and (R) are true, but (R) is not the correct explanation of (A).

(B) Both (A) and (R) are true, and (R) is the correct explanation of (A).

(C) (A) is false, but (R) is true.

(D) (A) is true, but (R) is false.

22. Assertion (A) : Under monopolistic competition, the long-run average revenue (LAR)

of a firm is tangent to the negatively sloping portion of the long-run

average cost (LAC) curve.

Reason (R) : The demand curve facing the firm under monopolistic competition is

relatively more elastic.

(A) Both (A) and (R) are true, but (R) is the correct explanation of (A).

(B) (A) is true, but (R) is false.

(C) Both (A) and (R) are false.

(D) Both (A) and (R) are true, but (R) is not the correct explanation of (A).

D-0109 7 Paper-II

17. 2006-07 ´Öë ³ÖÖ¸üŸÖ ´Öë DÖÖªÖ−−ÖÖë �úÖ �ãú»Ö ˆŸ¯ÖÖ¤ü−Ö ×�úŸÖ−ÖÖ £ÖÖ ?

(A) 207.3 ×´Ö×»ÖµÖ−Ö ™ü−Ö (B) 217.3 ×´Ö×»ÖµÖ−Ö ™ü−Ö

(C) 270.8 ×´Ö×»ÖµÖ−Ö ™ü−Ö (D) 227.8 ×´Ö×»ÖµÖ−Ö ™ü−Ö

18. �ú¸êü−™ü ›êü»Öß Ã™êü™üÃÖ (CDS) �êú †Ö¬ÖÖ¸ü ¯Ö¸ü, ³ÖÖ¸üŸÖ ´Öë 2004-05 ´Öë, ²Öê üÖê•Ö%ÖÖ¸üß �úß ×¾ÖÃŸÖÖ¸ü ÃÖß´ÖÖ ŒµÖÖ £Öß ?

(A) 4.52% (B) 6.43%

(C) 8.28% (D) 10.12%

19. ¤üÖê “Ö¸üÖë �êú ²Öß“Ö ÃÖ´²Ö−¬Ö �úß ×›ü%ÖÏß ×−Ö¬ÖÖÔ×¸üŸÖ �ú¸ü−Öê ¾ÖÖ»Öß ÃÖÖÓÛDµÖ�úßµÖ ŸÖ�ú−Öß�ú ŒµÖÖ �úÆü»ÖÖŸÖß Æîü ?

(A) ×²ÖDÖ¸üÖ¾Ö (¯ÖÏ�úß:ÖÔ−Ö) (B) ÃÖæ“Ö�úÖÓ�ú

(C) ÃÖ´²Ö−¬Ö / ÃÖÓµÖÖê•Ö−Ö (D) ÃÖÆüÃÖ´²Ö−¬Ö

20. ×�úÃÖ ÃÖæ“Ö�úÖÓ�ú ×¾Ö×¬Ö ´Öë ˆ¬¾ÖÔ%ÖÖ´Öß †×³Ö−Ö×ŸÖ (—Öã�úÖ¾Ö) Æîü ?

(A) »ÖêÃÖ¯ÖêµÖ¸üÃÖ �úß ×¾Ö×¬Ö (B) ¯ÖÖ¿Öê �úß ×¾Ö×¬Ö

(C) ²ÖÖòˆ»Öê �úß ×¾Ö×¬Ö (D) ×±ú¿Ö ü �úß ×¾Ö×¬Ö

−ÖÖê™ü ü : −Öß“Öê ¤üÖê �ú£Ö−Ö ×¤ü‹ %Ö‹ Æïü … ¯ÖÏ¿−Ö ÃÖÓDµÖÖ 21 ÃÖê 30 ŸÖ�ú (†×³Ö�ú£Ö−Ö †Öî ü ŸÖ�Ôú ¯ÖÏ�úÖ¸ü �êú) �êú ×»Ö‹ −Öß“Öê ×¤ü‹ �úÖê›üÖë ÃÖê ÃÖÆüß ˆ¢Ö¸ü �úÖ “ÖµÖ−Ö �ú¸ëü …

21. †×³Ö�ú£Ö−Ö (A) : MR †Öî ü AR �êú ×%Ö¸ü−Öê �úß ÛÃ£Ö×ŸÖ ´Öë AR �úß ŸÖã»Ö−ÖÖ ´Öë MR �êú ×%Ö¸ü−Öê �úß ¤ü¸ü •µÖÖ¤üÖ ÆüÖêŸÖß Æîü …

ŸÖ�Ôú (R) : MR †Öî ü AR ¤üÖê−ÖÖë ¾Ö�Îú ¸êüDÖßµÖ †Öî ü −Ö�úÖ¸üÖŸ´Ö�ú ºþ¯Ö ÃÖê œÍü»Ö¾ÖÖÑ ÆüÖêŸÖß Æïü …

(A) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü ¯Ö¸ü−ŸÖã (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö −ÖÆüà Æîü …

(B) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü ¯Ö¸ü−ŸÖã (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö Æîü …

(C) (A) †ÃÖŸµÖ Æîü, ¯Ö¸ü−ŸÖã (R) ÃÖŸµÖ Æîü …

(D) (A) ÃÖŸµÖ Æîü, ¯Ö¸ü−ŸÖã (R) †ÃÖŸµÖ Æîü …

22. †×³Ö�ú£Ö−Ö (A) : ‹�úÖ×¬Ö�úÖ¸üß ¯ÖÏ×ŸÖÃ¯Ö¬ÖÖÔ �êú †ÓŸÖ%ÖÔŸÖ, ±ú´ÖÔ �úÖ ¤üß‘ÖÔ�úÖ×»Ö�ú †ÖîÃÖŸÖ †Ö%Ö´Ö, ¤üß‘ÖÔ�úÖ×»Ö�ú †ÖîÃÖŸÖ »ÖÖ%ÖŸÖ ¾Ö�Îú �êú −Ö�úÖ¸üÖŸ´Ö�ú ºþ¯Ö ÃÖê œ»Ö¾ÖÖÑ ³ÖÖ%Ö �úÖê Ã¯Ö¿ÖÔ �ú¸üŸÖÖ Æîü …

ŸÖ�Ôú (R) : ‹�úÖ×¬Ö�úÖ¸üß ¯ÖÏ×ŸÖÃ¯Ö¬ÖÖÔ �êú †ÓŸÖ%ÖÔŸÖ, ±ú´ÖÔ �úß ´ÖÖÓ%Ö ¾Ö�Îú ŸÖã»Ö−ÖÖŸ´Ö�ú ºþ¯Ö ÃÖê •µÖÖ¤üÖ »ÖÖê“Ö−ÖßµÖ ÆüÖêŸÖß Æîü …

(A) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü †Öî ü (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö Æîü …

(B) (A) ÃÖŸµÖ Æîü, ¯Ö¸ü−ŸÖã (R) †ÃÖŸµÖ Æîü …

(C) (A) †Öî ü (R) ¤üÖê−ÖÖë †ÃÖŸµÖ Æïü …

(D) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü ¯Ö¸ü−ŸÖã (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö −ÖÆüà Æîü …

Paper-II 8 D-0109

23. Assertion (A) : According to Milton Friedman, the slope of the long-run Phillips curve

is vertical.

Reason (R) : The expectations about future inflation are the basic cause of the non-

existence of the trade-off between inflation and unemployment in the

long-run.

(A) Both (A) and (R) are true, but (R) is not the correct reason of (A).

(B) Both (A) and (R) are true, and (R) is the correct reason of (A).



24. Assertion (A) : Life Cycle Hypothesis attempts to reconcile the short-run non-

proportional and the long-run proportional consumption functions.

Reason (R) : Short-run non-proportional consumption function implies that APC

declines as income increases.

(A) (A) is true, but (R) is false.

(B) Both (A) and (R) are false.

(C) Both (A) and (R) are true, but (R) is not the correct reason of (A).

(D) Both (A) and (R) are true, and (R) is the correct reason of (A).

25. Assertion (A) : According to Gunnar Myrdal, there exists a circular and cumulative

causation in under-developed countries.

Reason (R) : There is a mutually reinforcing interaction between low living levels

and low productivity.

(A) (A) is false, but (R) is true.

(B) Both (A) and (R) are false.

(C) Both (A) and (R) are true, but (R) is not the correct explanation of (A).

(D) Both (A) and (R) are true, and (R) is the correct explanation of (A).

26. Assertion (A) : Harrod-Domar model assumes fixed technological relationship

between capital stock and income flows.

Reason (R) : The model assumes flexible capital output ratio.

(A) Both (A) and (R) are true.

(B) Both (A) and (R) are true, but (R) is not the correct explanation of (A).



D-0109 9 Paper-II

23. †×³Ö�ú£Ö−Ö (A) : ×´Ö»™ü−Ö ±Ïúß›ü´Öî−Ö �êú †−ÖãÃÖÖ¸ü, ¤üß‘ÖÔ�úÖ×»Ö�ú ×±ú×»Ö¯Ö ¾Ö�Îú �úÖ œ»ÖÖ−Ö ‰ú¬¾ÖÖÔ�úÖ¸ü ÆüÖêŸÖÖ Æîü …

ŸÖ�Ôú (R) : ³ÖÖ¾Öß ´Öã¦üÖ Ã±úß×ŸÖ �êú ²ÖÖ¸êü ´Öë ¯ÖÏŸµÖÖ¿ÖÖ‹Ñ Æüß ¤üß‘ÖÔ�úÖ»Ö ´Öë ´Öã¦üÖ Ã±úß×ŸÖ †Öî ü ²Öê üÖê•Ö%ÖÖ¸üß �êú ²Öß“Ö ×¾Ö�ú»¯Ö �úß %Öî ü-´ÖÖî•Öæ¤ü%Öß �úÖ ´Öæ»Ö³ÖæŸÖ �úÖ¸ü:Ö Æîü …

(A) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü, ¯Ö¸ü−ŸÖã (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö −ÖÆüà Æîü …

(B) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü †Öî ü (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö Æîü …

(C) (A) †Öî ü (R) ¤üÖê−ÖÖë †ÃÖŸµÖ Æïüü …


24. †×³Ö�ú£Ö−Ö (A) : •Öß¾Ö−Ö “Ö�Îú ¯ÖÏÖŒ�ú»¯Ö−ÖÖ, †»¯Ö�úÖ×»Ö�ú †−ÖÖ−Öã¯ÖÖ×ŸÖ�ú †Öî ü ¤üß‘ÖÔ�úÖ×»Ö�ú †−Öã¯ÖÖ×ŸÖ�ú ˆ¯Ö³ÖÖê%Ö ±ú»Ö−ÖÖë �úÖ ÃÖÖ´ÖÓ•ÖÃµÖ Ã£ÖÖ×¯ÖŸÖ �ú¸ü−Öê �úß “ÖêÂ™üÖ �ú¸üŸÖß Æîü …

ŸÖ�Ôú (R) : †»¯Ö�úÖ×»Ö�ú †−ÖÖ−Öã¯ÖÖ×ŸÖ�ú ˆ¯Ö³ÖÖê%Ö ±ú»Ö−Ö ÃÖê ŸÖÖŸ¯ÖµÖÔ Æîü ×�ú •Ö²Ö †ÖµÖ ²ÖœÍüŸÖß Æîü ŸÖÖê APC ×%Ö¸üŸÖß Æîü …

(A) (A) ÃÖŸµÖ Æîü ¯Ö¸ü−ŸÖã (R) †ÃÖŸµÖ Æîü …

(B) (A) †Öî ü (R) ¤üÖê−ÖÖë †ÃÖŸµÖ Æïü …

(C) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü, ¯Ö¸ü−ŸÖã (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö −ÖÆüà Æîü …

(D) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü †Öî ü (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö Æîü …

25. †×³Ö�ú£Ö−Ö (A) : %Öã−−ÖÖ¸ü ×´Ö›üÖÔ»Ö �êú †−ÖãÃÖÖ¸ü †»¯Ö-×¾Ö�ú×ÃÖŸÖ ¤êü¿ÖÖë ´Öë “Ö�ÎúßµÖ †Öî¸ü ÃÖÓ“ÖµÖß �úÖµÖÔ�úÖ¸ü:Ö ³ÖÖ¾Ö ×¾Öª´ÖÖ−Ö ¸üÆüŸÖÖ Æîü …

ŸÖ�Ôú (R) : ×−Ö´−Ö •Öß¾Ö−Ö ×−Ö¾ÖÖÔÆü ÃŸÖ¸ü †Öî ü ×−Ö´−Ö ˆŸ¯ÖÖ¤ü�úŸÖÖ �êú ²Öß“Ö ¯Ö¸üÃ¯Ö¸ü ÃÖÓ²Ö×»ÖŸÖ �ú¸ü−Öê ¾ÖÖ»Öß †ÓŸÖ:×�ÎúµÖÖ ÆüÖêŸÖß Æîü …

(A) (A) †ÃÖŸµÖ Æîü, ¯Ö¸ü−ŸÖã (R) ÃÖŸµÖ Æîü …

(B) (A) †Öî ü (R) ¤üÖê−ÖÖë †ÃÖŸµÖ Æïü …

(C) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü, ¯Ö¸ü−ŸÖã (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö −ÖÆüà Æîü …

(D) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü, †Öî¸ü (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö Æîü …

26. †×³Ö�ú£Ö−Ö (A) : Æîü¸üÖê›ü-›üÖê´Ö¸ü ´ÖÖò›ü»Ö �úß ´ÖÖ−µÖŸÖÖ †−ÖãÃÖÖ¸ü ¯ÖæÑ•Öß Ã™üÖò�ú †Öî ü †ÖµÖ ¯ÖÏ¾ÖÖÆü �êú ²Öß“Ö ÛÃ£Ö¸ü ¯ÖÏÖîªÖê×%Ö�úßµÖ ÃÖ´²Ö−¬Ö Æîü …

ŸÖ�Ôú (R) : µÖÆü ´ÖÖò›ü»Ö, ¯ÖæÑ•Öß-ˆŸ¯ÖÖ¤ü−Ö †−Öã¯ÖÖŸÖ ¯Ö×¸ü¾ÖŸÖÔ−ÖßµÖ ´ÖÖ−ÖŸÖÖ Æîü …

(A) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü …

(B) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü, ¯Ö¸ü−ŸÖã (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö −ÖÆüà Æîü …

(C) (A) †Öî ü (R) ¤üÖê−ÖÖë †ÃÖŸµÖ Æïü …


Paper-II 10 D-0109

27. Assertion (A) : Over the years, the goal of self-reliance has proved to be elusive in the

Indian economy.

Reason (R) : Balance Of Payments (BOP) problems have been arising due to

imports of POL.

(A) Both (A) and (R) are false.


(C) Both (A) and (R) are true, but (R) is not the correct explanation of (A).

(D) Both (A) and (R) are true and (R) is the correct explanation of (A).

28. Assertion (A) : Laspeyre’s index has a upward bias.

Reason (R) : Paasche’s index has a downward bias.

(A) Both (A) and (R) are true and (R) is the correct explanation of (A).

(B) Both (A) and (R) are true, but (R) is not the correct explanation of (A).

(C) (A) is true but (R) is false.

(D) (A) is false but (R) is true.

29. Assertion (A) : In a bell-shaped distributive curve, the value of Mean, Median and

Mode would be identical.

Reason (R) : There is no skewness in the series.

(A) Both (A) and (R) are true, but (R) is not the correct explanation of (A).


(C) (A) is false, but (R) is true.

(D) Both (A) and (R) are true and (R) is the correct explanation of (A).

30. Assertion (A) : Colin Clark hypothesised that the safe upper limit of taxation is 25

percent of national income.

Reason (R) : The excess burden of taxation will be very high if it goes beyond the

25 percent limit.

(A) (A) is true, but (R) is false.

(B) Both (A) and (R) are true.

(C) Both (A) and (R) are true and (R) is the correct explanation of (A).

(D) Both (A) and (R) are false.

D-0109 11 Paper-II

27. †×³Ö�ú£Ö−Ö (A) : ÃÖ´ÖµÖÖê¯Ö×¸ü, †ÖŸ´Ö ×−Ö³ÖÔ üŸÖÖ �úÖ »Ö_µÖ ³ÖÖ¸üŸÖßµÖ †£ÖÔ¾µÖ¾ÖÃ£ÖÖ ´Öë ³ÖÏÖÛ−ŸÖ•Ö−Ö�ú ×ÃÖ¨ü Æãü†Ö Æîü …

ŸÖ�Ôú (R) : POL (¯Öî™ÒüÖê×»ÖµÖ´Ö †ÖòµÖ»Ö »Öã²ÖÎß�ëú™ËüÃÖ) �êú †ÖµÖÖŸÖÖë �úß ¾Ö•ÖÆü ÃÖê ³Öã%ÖŸÖÖ−Ö ÃÖÓŸÖã»Ö−Ö �úß ÃÖ´ÖÃµÖÖ‹Ñ ˆŸ¯Ö−−Ö ÆüÖê ¸üÆüß Æïü …

(A) (A) †Öî ü (R) ¤üÖê−ÖÖë †ÃÖŸµÖ Æïü …


(C) (A) †Öî ü (R) ÃÖŸµÖ Æïü, ¯Ö¸ü−ŸÖã (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö −ÖÆüà Æîü …

(D) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü, ¯Ö¸ü−ŸÖã (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö Æîü …

28. †×³Ö�ú£Ö−Ö (A) : »ÖîÃ¯Ö¸êü �úÖ ÃÖæ“Ö�úÖÓ�ú ‰ú¬¾ÖÔ%ÖÖ´Öß —Öã�úÖ¾Ö ¸üDÖŸÖÖ Æîü …

ŸÖ�Ôú (R) : ¯ÖÖÃ“Öê �úÖ ÃÖæ“Ö�úÖÓ�ú †¬ÖÖê%ÖÖ´Öß —Öã�úÖ¾Ö ¸üDÖŸÖÖ Æîü …

(A) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖÆüß Æïü †Öî ü (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö Æîü …

(B) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖÆüß Æïü, ×�ú−ŸÖã (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö −ÖÆüà Æîü …

(C) (A) ÃÖŸµÖ Æîü, ×�ú−ŸÖã (R) †ÃÖŸµÖ Æîü …

(D) (A) †ÃÖŸµÖ Æîü, ×�ú−ŸÖã (R) ÃÖŸµÖ Æîü …

29. †×³Ö�ú£Ö−Ö (A) : ‘ÖÓ™Ö�úÖ¸ü ×¾ÖŸÖ¸ü:Ö ¾Ö�Îú ´Öë, ´ÖÖ¬µÖ, ´ÖÖÛ¬µÖ�úÖ †Öî ü ²ÖÆãü»Ö�ú ‹�ú-ÃÖ´ÖÖ−Ö ÆüÖë%Öê …

ŸÖ�Ôú (R) : ‡ÃÖ´Öë �úÖê‡Ô ¾ÖîÂÖ´µÖ (ÃŒµÖæ−ÖîÃÖ) −ÖÆüà Æîü …

(A) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü ¯Ö¸ü−ŸÖã (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö −ÖÆüà Æîü …


(C) (A) †ÃÖŸµÖ Æîü, ¯Ö¸ü−ŸÖã (R) ÃÖŸµÖ Æîü …

(D) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü †Öî ü (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö Æîü …

30. †×³Ö�ú£Ö−Ö (A) : �úÖò×»Ö−Ö Œ»ÖÖ�Ôú �úß ¯ÖÏÖŒ�ú»¯Ö−ÖÖ �êú †−ÖãÃÖÖ¸ü �ú üÖ¸üÖê Ö:Ö �úß ÃÖã ü×_ÖŸÖ ˆ““ÖŸÖ¸ü ÃÖß´ÖÖ ¸üÖÂ™ÒüßµÖ †ÖµÖ �úÖ 25 ¯ÖÏ×ŸÖ¿ÖŸÖ Æîü …

ŸÖ�Ôú (R) : µÖ×¤ü µÖÆü 25 ¯ÖÏ×ŸÖ¿ÖŸÖ �úß ÃÖß´ÖÖ ÃÖê ¯Ö¸êü •ÖÖŸÖÖ Æîü ŸÖÖê �ú¸üÖ¸üÖê¯Ö:Ö �úÖ •µÖÖ¤üÖ ³ÖÖ¸ü ²ÖÆãüŸÖ †×¬Ö�ú ÆüÖê ÃÖ�úŸÖÖ Æîü …

(A) (A) ÃÖŸµÖ Æîü, ¯Ö¸ü−ŸÖã (R) †ÃÖŸµÖ Æîü …

(B) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü …

(C) (A) †Öî ü (R) ¤üÖê−ÖÖë ÃÖŸµÖ Æïü †Öî (R), (A) �úÖ ÃÖÆüß Ã¯ÖÂ™üß�ú¸ü:Ö Æîü …

(D) (A) †Öî ü (R) ¤üÖê−ÖÖë †ÃÖŸµÖ Æïü …

Paper-II 12 D-0109

Note : For Question Nos. 31 to 38, the candidates are required to tick (√) mark the option

having the right chronological order.

31. (i) Value and Capital

(ii) Principles of Political Economy and Taxation

(iii) A Revision of Demand Theory

(iv) The General Theory of Employment, Interest and Money

Codes :

(A) (ii), (iv), (i), (iii)

(B) (iii), (i), (iv), (ii)

(C) (iv), (iii), (i), (ii)

(D) (i), (iv), (iii), (ii)

32. (i) Introduction of MODVAT

(ii) Introduction of Fringe Benefit Tax

(iii) Introduction of Expenditure Tax

(iv) Abolition of Estate Duty

Codes :

(A) (ii), (iii), (i), (iv)

(B) (iii), (iv), (i), (ii)

(C) (iv), (i), (iii), (ii)

(D) (i), (iv), (ii), (iii)

33. (i) Relative Income Hypothesis

(ii) Life-cycle Hypothesis

(iii) Absolute Income Hypothesis

(iv) Permanent Income Hypothesis

Codes :

(A) (iii), (i), (iv), (ii)

(B) (ii), (iv), (i), (iii)

(C) (i), (iii), (ii), (iv)

(D) (iv), (ii), (iii), (i)

D-0109 13 Paper-II

−ÖÖê™ü : ¯ÖÏ¿−Ö ÃÖÓDµÖÖ 31 ÃÖê 38 ŸÖ�ú �êú ×»Ö‹, ¯Ö¸üß_ÖÖÙ£ÖµÖÖë �úÖê ÃÖÆüß �úÖ»ÖÖ−Öã�Îú×´Ö�ú �Îú´Ö �êú ×¾Ö�ú»¯Ö �úÖ “ÖµÖ−Ö �ú¸ü−ÖÖ Æîü …

31. (i) ¾Öî»µÖã ‹:›ü �îú¯Öß™ü»Ö

(ii) Ø¯ÖÏÃÖß¯Ö»ÃÖ †Öò±ú ¯ÖÖê×»Ö×™ü�ú»Ö ‡�úÖê−ÖÖò Öß ‹:›ü ™îüŒÃÖê¿Ö−Ö

(iii) ‹ ×¸ü¾Öß•ÖÌ−Ö †Öò±ú ×›ü´ÖÖÓ›ü £µÖÖê üß

(iv) ¤üß •Ö−Ö¸ü»Ö £µÖÖê üß †Öò±ú ‹Ó »ÖÖòµÖ´Öë™ü, ‡Ó™ü êüÃ™ü ‹:›ü ´Ö−Öß …

�úÖê›ü :

(A) (ii), (iv), (i), (iii)

(B) (iii), (i), (iv), (ii)

(C) (iv), (iii), (i), (ii)

(D) (i), (iv), (iii), (ii)

32. (i) ´ÖÖò›ü¾Öî™ü (MODVAT) �úÖ ¯ÖÏÖ¸ü´³Ö

(ii) †−ÖãÂÖÓ%Öß (¾ÖêŸÖ−ÖêŸÖ¸ü) ×ÆüŸÖ»ÖÖ³Ö �ú¸ü �úÖ ¯ÖÏÖ¸ü´³Ö

(iii) ¾µÖµÖ �ú¸ü �úÖ ¯ÖÏÖ¸ü´³Ö

(iv) ÃÖÓ¯Ö¤üÖ ¿Öã»�ú ÃÖ´ÖÖ¯Ö−Ö

�úÖê›ü :

(A) (ii), (iii), (i), (iv)

(B) (iii), (iv), (i), (ii)

(C) (iv), (i), (iii), (ii)

(D) (i), (iv), (ii), (iii)

33. (i) ÃÖÖ¯Öê_Ö †ÖµÖ ¯ÖÏÖŒ�ú»¯Ö−ÖÖ

(ii) •Öß¾Ö−Ö-“Ö�Îú ¯ÖÏÖŒ�ú»¯Ö−ÖÖ

(iii) ×−Ö ü¯Öê_Ö †ÖµÖ ¯ÖÏÖŒ�ú»¯Ö−ÖÖ

(iv) Ã£ÖÖµÖß †ÖµÖ ¯ÖÏÖŒ�ú»¯Ö−ÖÖ

�úÖê›ü :

(A) (iii), (i), (iv), (ii)

(B) (ii), (iv), (i), (iii)

(C) (i), (iii), (ii), (iv)

(D) (iv), (ii), (iii), (i)

Paper-II 14 D-0109

34. (i) Modernisation

(ii) Rapid and non-inclusive growth

(iii) Removal of poverty and self-reliance

(iv) Rapid and large scale industrialisation

Codes :

(A) (i), (ii), (iv), (iii)

(B) (ii), (iv), (i), (iii)

(C) (iv), (ii), (iii), (i)

(D) (iv), (iii), (i), (ii)

35. (i) Formation of WTO

(ii) Uruguay Round of GATT

(iii) Formation of GATT

(iv) Formation of UNCTAD

Codes :

(A) (i), (iii), (ii), (iv)

(B) (iv), (iii), (ii), (i)

(C) (iii), (iv), (ii), (i)

(D) (ii), (iv), (i), (iii)

36. (i) Pradhan Mantri Gramodaya Yojana (PMGY)

(ii) Swarnjayanti Gram Swarozgar Yojana (SGSY)

(iii) Jawahar Rozgar Yojana (JRY)

(iv) Integrated Rural Development Programme (IRDP)

Codes :

(A) (iii), (iv), (ii), (i)

(B) (ii), (iii), (iv), (i)

(C) (i), (ii), (iii), (iv)

(D) (iv), (iii), (ii), (i)

37. (i) Creation of SDRs

(ii) Formation of IMF

(iii) Collapse of International Monetary System

(iv) Introduction of Gold Standard

Codes :

(A) (ii), (iii), (i), (iv)

(B) (iii), (iv), (i), (ii)

(C) (ii), (iv), (iii), (i)

(D) (iv), (ii), (i), (iii)

D-0109 15 Paper-II

34. (i) †Ö¬Öã×−Ö�úß�ú¸ü:Ö (ii) ŸÖê•Ö ‹¾ÖÓ †−Ö-ÃÖ´ÖÖ¾Öê¿Öß ÃÖÓ¾Öé×¨ü (iii) ×−Ö¬ÖÔ−ÖŸÖÖ †Öî ü †ÖŸ´Ö-×−Ö³ÖÔ üŸÖÖ �úÖ ×−ÖÂ�úÖÃÖ−Ö (iv) ŸÖê•Ö †Öî ü ²Ö›Íêü ¯Öî´ÖÖ−Öê ¯Ö¸ü †ÖîªÖê×%Ö�úß�ú¸ü:Ö �úÖê›ü : (A) (i), (ii), (iv), (iii) (B) (ii), (iv), (i), (iii) (C) (iv), (ii), (iii), (i) (D) (iv), (iii), (i), (ii) 35. (i) WTO �úÖ ×−Ö´ÖÖÔ:Ö (ii) GATT �úÖ ˆ¹ý%¾Öê ¸üÖˆ−›ü (iii) GATT �úÖ ×−Ö´ÖÖÔ:Ö (iv) UNCTAD �úÖ ×−Ö´ÖÖÔ:Ö �úÖê›ü : (A) (i), (iii), (ii), (iv) (B) (iv), (iii), (ii), (i) (C) (iii), (iv), (ii), (i) (D) (ii), (iv), (i), (iii) 36. (i) ¯ÖÏ¬ÖÖ−Ö´ÖÓ¡Öß %ÖÏÖ´ÖÖê¤üµÖ µÖÖê•Ö−ÖÖ (PMGY) (ii) Ã¾Ö:ÖÔ•ÖµÖ−ŸÖß %ÖÏÖ´Ö Ã¾Ö¸üÖê•Ö%ÖÖ¸ü µÖÖê•Ö−ÖÖ (SGSY) (iii) •Ö¾ÖÖÆü¸ü ¸üÖê•Ö%ÖÖ¸ü µÖÖê•Ö−ÖÖ (JRY) (iv) ‡Ó™üß%ÖÏê×™ü›ü ºþ¸ü»Ö ›êü¾Ö»Öê¯Ö´Öë™ü ¯ÖÏÖê%ÖÏÖ´Ö (IRDP) �úÖê›ü : (A) (iii), (iv), (ii), (i) (B) (ii), (iii), (iv), (i) (C) (i), (ii), (iii), (iv) (D) (iv), (iii), (ii), (i) 37. (i) SDR �úß ¸ü“Ö−ÖÖ (ii) IMF �úÖ ×−Ö´ÖÖÔ:Ö (iii) †ÓŸÖ¸üÖÔÂ™ÒüßµÖ ´Öã¦üÖ ¯ÖÏ:ÖÖ»Öß �úÖ ×¾Ö¬¾ÖÓÃÖ (iv) Ã¾Ö:ÖÔ ÖÖ−Ö �úÖ ¯ÖÏÖ¸ü´³Ö �úÖê›ü : (A) (ii), (iii), (i), (iv) (B) (iii), (iv), (i), (ii) (C) (ii), (iv), (iii), (i) (D) (iv), (ii), (i), (iii)

Paper-II 16 D-0109

38. Chairman of the Finance Commission

(i) K.C. Pant

(ii) K. Brahamananda Reddy

(iii) A.M. Khusro

(iv) K. Santhanam

Codes :

(A) (i), (iii), (ii), (iv)

(B) (ii), (i), (iii), (iv)

(C) (iv), (ii), (i), (iii)

(D) (iii), (ii), (i), (iv)

Note : Matching item (Q. Nos. 39 to 46) : This consists of two lists of Events / Theories / Models / Statements, etc., and the other of authors/years. The candidates are required to match an item in one list with an item in the other and mark the correct matching option, given in the code.

39. List-I List-II

(a) Degree of monopoly theory (i) T. Scitovsky

(b) Double criterion (ii) Halland Hitch

(c) Behavioural theory of firm (iii) M. Kalecki

(d) Average cost pricing (iv) Herbert Simon

(a) (b) (c) (d)

(A) (iii) (i) (iv) (ii)

(B) (ii) (iii) (iv) (i)

(C) (iv) (ii) (i) (iii)

(D) (iii) (ii) (iv) (i)

40. List-I List-II

(a) Compensation criterion (i) Williamson

(b) Impossibility theorem (ii) F.H. Knight

(c) Managerial discretion model (iii) Kaldor-Hicks

(d) Uncertainty theory of profits (iv) Kenneth Arrow

(a) (b) (c) (d)

(A) (iv) (i) (iii) (ii)

(B) (iii) (iv) (i) (ii)

(C) (ii) (iii) (i) (iv)

(D) (iii) (ii) (iv) (i)

D-0109 17 Paper-II

38. ×¾Ö¢Ö †ÖµÖÖê%Ö �úÖ †¬µÖ_Ö :

(i) �êú.ÃÖß. ¯ÖÓŸÖ

(ii) �êú. ²ÖÎÉÖ−ÖÓ¤üÖ ¸îü›üß

(iii) ‹. ‹´Ö. DÖãÃÖ¸üÖê

(iv) �êú. ÃÖÖÓ£ÖÖ−Ö−Ö

�úÖê›ü :

(A) (i), (iii), (ii), (iv)

(B) (ii), (i), (iii), (iv)

(C) (iv), (ii), (i), (iii)

(D) (iii), (ii), (i), (iv)

−ÖÖê™ü : ÃÖã´Öê×»ÖŸÖ ´Ö¤ü (¯ÖÏ.ÃÖÓ. 39 ÃÖê 46) ‡ÃÖ DÖÓ›ü ´Öë ¤üÖê ÃÖæ×“ÖµÖÖÑ ¤üß %Ö‡Ô Æïü … ÃÖæ“Öß-I ´Öë ‘Ö™ü−ÖÖ‹Ñ/×ÃÖ¨üÖ−ŸÖ/´ÖÖò›ü»Ö/†×³Ö�ú£Ö−Ö, ‡ŸµÖÖ×¤ü ×¤ü‹ %Ö‹ Æïü †Öî ü ÃÖæ“Öß-II ´Öë »ÖêDÖ�ú †Öî ü ¾ÖÂÖÔ … ¯Ö¸üß_ÖÖ£Öá �úÖê ÃÖæ“Öß-I ´Öë ¤üß ´Ö¤üÖë �úÖê ÃÖæ“Öß-II ´Öë ´Ö¤üÖë �êú ÃÖÖ£Ö ÃÖã´Öê×»ÖŸÖ �ú¸ü−ÖÖ Æîü †Öî ü �úÖê›ü ´Öë ×¤ü‹ ×¾Ö�ú»¯Ö �úÖ ÃÖÆüß “ÖµÖ−Ö �ú¸ü−ÖÖ Æîü …

39. ÃÖæ“Öß-I ÃÖæ“Öß-II

(a) ‹�úÖ×¬Ö�úÖ¸ü ×ÃÖ¨üÖ−ŸÖ �úß ×›ü%ÖÏß (i) ™üß. ×ÃÖ™üÖê¾ÃÖ�úß

(b) ¤ãüÆü üÖ ´ÖÖ¯Ö¤Óü›ü (ii) ÆüÖ»Öï›ü ×Æü“Ö

(c) ±ú´ÖÔ �úÖ ¾µÖ¾ÖÆüÖ¸ü ¯Ö¸ü�ú ×ÃÖ¨üÖ−ŸÖ (iii) ‹´Ö. �îú»Öê�úß

(d) †ÖîÃÖŸÖ »ÖÖ%ÖŸÖ �úß´ÖŸÖ ×−Ö¬ÖÖÔ ü:Ö (iv) Æü²ÖÔ™Ôü ÃÖÖ‡´Ö−Ö

(a) (b) (c) (d)

(A) (iii) (i) (iv) (ii)

(B) (ii) (iii) (iv) (i)

(C) (iv) (ii) (i) (iii)

(D) (iii) (ii) (iv) (i)


(a) _Ö×ŸÖ¯ÖæÙŸÖ ´ÖÖ¯Ö¤Óü›ü (i) ×¾Ö×»ÖµÖ´ÖÃÖ−Ö

(b) †ÃÖ´³ÖÖ¾µÖ ×ÃÖ¨üÖ−ŸÖ (ii) ‹±ú. ‹“Ö. −ÖÖ‡Ô™ü

(c) ¯ÖÏ²Ö−¬Ö�úßµÖ ×¾Ö¾Öê�ú ´ÖÖò›ü»Ö (iii) �úÖ»›ü¸ü-×ÆüŒÃÖ

(d) »ÖÖ³Ö �úÖ †×−ÖÛ¿“ÖŸÖŸÖÖ ×ÃÖ¨üÖ−ŸÖ (iv) �îú−Öê£Ö ‹ê üÖê

(a) (b) (c) (d)

(A) (iv) (i) (iii) (ii)

(B) (iii) (iv) (i) (ii)

(C) (ii) (iii) (i) (iv)

(D) (iii) (ii) (iv) (i)

Paper-II 18 D-0109

41. List-I List-II

(a) Absolute income hypothesis (i) N. Gregory Mankiw

(b) Rational expectation hypothesis (ii) J.M. Keynes

(c) Relative income hypothesis (iii) Robert Lucas

(d) The New Keynesian model (iv) James Duesenberry

(a) (b) (c) (d)

(A) (iv) (iii) (ii) (i)

(B) (ii) (i) (iv) (iii)

(C) (ii) (iii) (iv) (i)

(D) (iii) (ii) (i) (iv)

42. List-I List-II

(a) Stability of demand function for money (i) Bent Hansen

(b) Demand inflation theory (ii) Milton Friedman

(c) Interest elasticity of transactions

demand for cash (iii) Don Patinkin

(d) Real balance effect (iv) James Tobin

(a) (b) (c) (d)

(A) (ii) (iii) (i) (iv)

(B) (ii) (i) (iv) (iii)

(C) (iii) (ii) (i) (iv)

(D) (ii) (iii) (iv) (i)

43. List-I List-II

(a) Steady rate of growth (i) P.R. Brahmananda

(b) Golden age (ii) Joseph Schumpeter

(c) Wage goods model (iii) R.M. Solow

(d) Circular flow of economic life (iv) Mrs. Joan Robinson

(a) (b) (c) (d)

(A) (ii) (iii) (iv) (i)

(B) (iii) (i) (ii) (iv)

(C) (i) (ii) (iv) (iii)

(D) (iii) (iv) (i) (ii)

D-0109 19 Paper-II


(a) ×−Ö ü¯Öê_Ö †ÖµÖ ¯ÖÏÖŒ�ú»¯Ö−ÖÖ (i) ‹−Ö. %ÖÏß%ÖÖò üß ´Öî−Ö×�ú¾Ö

(b) ŸÖ�ÔúÃÖÓ%ÖŸÖ ¯ÖÏŸµÖÖ¿ÖÖ ¯ÖÏÖŒ�ú»¯Ö−ÖÖ (ii) •Öê. ‹´Ö. �úß−ÃÖ

(c) ÃÖÖ¯Öê_Ö †ÖµÖ ¯ÖÏÖŒ�ú»¯Ö−ÖÖ (iii) ¸üÖò²Ö™Ôü »Öã�úÃÖ

(d) −Ö¾Ö �úß−ÃÖ¾ÖÖ¤üß ´ÖÖò›ü»Ö (iv) •Öê´ÃÖ ›ü¶ã•ÖÌ−Ö²Öê üß

(a) (b) (c) (d)

(A) (iv) (iii) (ii) (i)

(B) (ii) (i) (iv) (iii)

(C) (ii) (iii) (iv) (i)

(D) (iii) (ii) (i) (iv)


(a) ´Öã¦üÖ �êú ´ÖÖÓ%Ö ±ú»Ö−Ö �úÖ Ã£ÖÖ×µÖŸ¾Ö (i) ²Öë™ü Æêü−ÃÖ−Ö

(b) ´ÖÖÓ%Ö ´Öã¦üÖ Ã±úß×ŸÖ ×ÃÖ¨üÖ−ŸÖ (ii) ×´Ö»™ü−Ö ±Ïúß›ü´Öî−Ö

(c) ¸üÖê�ú›Íü �êú ×»ÖµÖê »Öê−Ö ¤êü−Ö ´ÖÖÓ%Ö �úß ²µÖÖ•Ö »ÖÖê“Ö (iii) ›üÖò−Ö ¯ÖîØ™ü×�ú−Ö

(d) ¾ÖÖÃŸÖ×¾Ö�ú ¿ÖêÂÖ ¯ÖÏ³ÖÖ¾Ö (iv) •Öê´ÃÖ ™üÖò×²Ö−Ö

(a) (b) (c) (d)

(A) (ii) (iii) (i) (iv)

(B) (ii) (i) (iv) (iii)

(C) (iii) (ii) (i) (iv)

(D) (ii) (iii) (iv) (i)


(a) ÃÖÓ¾Öé×¨ü �úß ×−ÖµÖ×´ÖŸÖ ¤ü¸ü (i) ¯Öß. †Ö¸ü. ²ÖÎÉÖ−ÖÓ¤ü

(b) Ã¾ÖÙ:Ö´Ö µÖã%Ö (ii) •ÖÖêÃÖ±ú ¿Öã´¯Öß™ü¸ü

(c) ÁÖ×´Ö�ú ¾ÖÃŸÖã ´ÖÖò›ü»Ö (iii) †Ö¸ü. ‹´Ö. ÃÖÖê»ÖÖê

(d) †ÖÙ£Ö�ú •Öß¾Ö−Ö �úÖ “Ö�ÎúßµÖ ¯ÖÏ¾ÖÖÆü (iv) ÁÖß´ÖŸÖß •ÖÖò−Ö ¸üÖê×²Ö−ÃÖ−Ö

(a) (b) (c) (d)

(A) (ii) (iii) (iv) (i)

(B) (iii) (i) (ii) (iv)

(C) (i) (ii) (iv) (iii)

(D) (iii) (iv) (i) (ii)

Paper-II 20 D-0109

44. List-I List-II

(a) Principle of absolute advantage (i) Rybczynski

(b) Effects of factor endowment

changes on trade (ii) Samuelson

(c) Theory of reciprocal demand (iii) Adam Smith

(d) Factor price equalisation theorem (iv) J.S. Mill

(a) (b) (c) (d)

(A) (iii) (ii) (iv) (i)

(B) (iv) (ii) (i) (iii)

(C) (iii) (i) (iv) (ii)

(D) (iii) (iv) (ii) (i)

45. List-I List-II

(a) Voluntary exchange approach (i) Peacock-Wiseman

(b) Theory of local public goods (ii) A.C. Pigou

(c) Time-pattern of public expenditure

growth (iii) Wicksell-Lindahl

(d) Principle of least aggregate sacrifice (iv) Charles Tiebout

(a) (b) (c) (d)

(A) (iii) (iv) (i) (ii)

(B) (iii) (i) (iv) (ii)

(C) (iii) (ii) (i) (iv)

(D) (iv) (ii) (iii) (i)

46. List-I List-II

(i) Hybrid Index Number (a) Spearman

(ii) Association of Attributes (b) Yule

(iii) Rank Correlation (c) Gulton

(iv) Regression (d) Marshall-Edgeworth

Codes :

(A) (i, b), (ii, c), (iii, d), (iv, a)

(B) (i, d), (ii, b), (iii, a), (iv, c)

(C) (i, a), (ii, c) (iii, b), (iv, d)

(D) (i, d), (ii, b), (iii, c), (iv, a)

D-0109 21 Paper-II


(a) ×−Ö ü¯Öê_Ö »ÖÖ³Ö �úÖ ×ÃÖ¨üÖ−ŸÖ (i) ×¸ü²Ö×ÃÖÃ�úß

(b) ¾µÖÖ¯ÖÖ¸ü ¯Ö¸ü ˆ¯ÖÖ¤ü−Ö ‹−Ö›üÖ‰ú´Öë™ü ¯Ö×¸ü¾ÖŸÖÔ−ÖÖë �úÖ ¯ÖÏ³ÖÖ¾Ö (ii) ÃÖê´µÖã»ÖÃÖ−Ö

(c) ¯ÖÖ¸üÃ¯Ö×¸ü�ú ´ÖÖÓ%Ö ×ÃÖ¨üÖ−ŸÖ (iii) ‹›ü´Ö ÛÃ´Ö£Ö

(d) ˆ¯ÖÖ¤ü−Ö �úß´ÖŸÖ ÃÖ´Ö�úÖ¸üß ×ÃÖ¨üÖ−ŸÖ (iv) •Öê. ‹ÃÖ. ×´Ö»Ö

(a) (b) (c) (d)

(A) (iii) (ii) (iv) (i)

(B) (iv) (ii) (i) (iii)

(C) (iii) (i) (iv) (ii)

(D) (iii) (iv) (ii) (i)


(a) ‹êÛ“”û�ú ×¾Ö×−Ö´ÖµÖ ˆ¯ÖÖ%Ö´Ö (i) ¯Öß�úÖò�ú ¾ÖÖ‡•ÖÌ Öî−Ö

(b) Ã£ÖÖ−ÖßµÖ ÃÖÖ¾ÖÔ•Ö×−Ö�ú ¾ÖÃŸÖã†Öë �úÖ ×ÃÖ¨üÖ−ŸÖ (ii) ‹.ÃÖß.¯Öß%Öæ

(c) ÃÖÖ¾ÖÔ•Ö×−Ö�ú ¾µÖµÖ ÃÖÓ¾Öé×¨ü �úÖ ™üÖ‡Ô´Ö-¯Öî™ü−ÖÔ (iii) ×¾Ö�úÃÖê»Ö ×»Ö:›üÖ»Ö

(d) »Ö‘Öã¢Ö´Ö ÃÖ´Ö%ÖÏ ŸµÖÖ%Ö ×ÃÖ¨üÖ−ŸÖ (iv) “ÖÖ»ÃÖÔ ™üÖ‡²Öæ™ü

(a) (b) (c) (d)

(A) (iii) (iv) (i) (ii)

(B) (iii) (i) (iv) (ii)

(C) (iii) (ii) (i) (iv)

(D) (iv) (ii) (iii) (i)


(i) ÆüÖ‡×²ÖÎ›ü ‡−›îüŒÃÖ −Ö´²Ö¸ü (a) ÛÃ¯ÖµÖ¸ü´Öî−Ö

(ii) ‹ÃÖÖê×ÃÖ‹¿Ö−Ö †Öò±ú ‹™Òüß²µÖæ™ËüÃÖ (b) µÖæ»Öê

(iii) ¸ïü�ú �úÖê×¸ü»Öê¿Ö−Ö (c) %Ö»™ü−Ö

(iv) ×¸ü%ÖÏê¿Ö−Ö (d) ´ÖÖ¿ÖÔ»Ö-‹•Ö¾Ö£ÖÔ

�úÖê›ü :

(A) (i, b), (ii, c), (iii, d), (iv, a)

(B) (i, d), (ii, b), (iii, a), (iv, c)

(C) (i, a), (ii, c) (iii, b), (iv, d)

(D) (i, d), (ii, b), (iii, c), (iv, a)

Paper-II 22 D-0109

Read the passage below and answer questions from 47 to 50 on your understanding of the

passage.

The theory of economic integration refers to the commercial policy of discriminatively

reducing or eliminating trade barriers only among the nations joining together. The degree of

economic integration ranges from preferential trade arrangements to free trade areas,

customs, unions, common markets, and economic unions. Preferential trade arrangements

provide lower barriers on trade among participating nations than on trade with non-member

nations. The best example of a preferential trade arrangement is the British Commonwealth

Preference Scheme established in 1932. A free trade area is the form of economic integration

wherein all barriers are removed on trade among members, but each nation retains its own

barriers to trade with non-members. The best examples are the European Free Trade

Association (EFTA) formed in 1960, the North American Free Trade Agreement (NAFTA)

formed in 1993 and the Southern Common Market (MEROSUR) formed in 1991. A customs

Union allows no tariff or other barrier on trade among members. The most famous example is

the European Union (EU) or European Common Market, formed in 1957. A common market

goes beyond a customs union by also allowing the free movement of labour and capital

among member nations. An economic union goes still further by harmonizing or even

unifying the monetary and fiscal policies of member state. This is the most advanced type of

economic integration.

47. Which of the following is not a free trade area ?

(A) The North American Free Trade Agreement.

(B) Southern Common Market.

(C) European Common Market.

(D) European Free Trade Association.

48. Which of the following allows free movement of labour and capital among member

nations ?

(A) Preferential trade arrangement (B) Customs union

(C) Economic union (D) Common market

49. An economic union is the most advanced type of economic integration.

(A) It unifies the monetary and fiscal policies of member states.

(B) It permits no tariff barriers on trade among members.

(C) It allows free movement of capital and labour among member nations.

(D) It allows no tariffs on trade among members and a common tariff policy towards

the rest of the world is followed.

50. The most advanced type of economic integration is

(A) Economic union (B) Customs union

(C) Common market (D) Free Trade Area

______________

D-0109 23 Paper-II

†¬ÖÖê×»Ö×DÖŸÖ †−Öã“”êû¤ü �úÖê ¯Ö×œÍü‹ †Öî ü ‡ÃÖê ÃÖ´Ö—Ö−Öê �êú ¯Ö¿“ÖÖŸÖË ¯ÖÏ¿−Ö 47 ÃÖê 50 ŸÖ�ú �úÖ ˆ¢Ö¸ü ¤üß×•Ö‹ …

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50. †ÖÙ£Ö�ú ‹�úß�ú¸ü:Ö �úÖ ÃÖ¾ÖÖÔ×¬Ö�ú ˆ−−ÖŸÖ ºþ¯Ö �úÖî−Ö ÃÖÖ Æîü ?

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Paper-II 24 D-0109

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