iii test booklet serial no. : economics test subject code...
TRANSCRIPT
Test Paper : III
Test Subject : ECONOMICS
Test Subject Code : K-0316
Test Booklet Serial No. : _______________________
OMR Sheet No. : _________________________________
Roll No. (Figures as per admission card)
Name & Signature of Invigilator/s
Signature : _________________________________Name : _________________________________
Paper : IIISubject : ECONOMICS
Time : 2 Hours 30 Minutes Maximum Marks : 150
Number of Pages in this Booklet : 32 Number of Questions in this Booklet : 75
K-0316 1 ���������/P.T.O.
Instructions for the Candidates1. Write your roll number in the space provided on the top of this page.2. This paper consists of seventy five multiple-choice type of questions.3. At the commencement of examination, the question booklet will
be given to you. In the first 5 minutes, you are requested toopen the booklet and compulsorily examine it as below :
(i) To have access to the Question Booklet, tear off the paperseal on the edge of the cover page. Do not accept abooklet without sticker seal or open booklet.
(ii) Tally the number of pages and number of questionsin the booklet with the information printed on thecover page. Faulty booklets due to pages/questionsmissing or duplicate or not in serial order or anyother discrepancy should be got replaced immediatelyby a correct booklet from the invigilator within theperiod of 5 minutes. Afterwards, neither the QuestionBooklet will be replaced nor any extra time will be given.
4. Each item has four alternative responses marked (A), (B), (C)and (D). You have to darken the circle as indicated below onthe correct response against each item.
Example : A B C D
where (C) is the correct response.
5. Your responses to the question of Paper III are to be indicatedin the OMR Sheet kept inside the Booklet. If you mark at anyplace other than in the circles in OMR Sheet, it will not beevaluated.
6. Read the instructions given in OMR carefully.7. Rough Work is to be done in the end of this booklet.8. If you write your name or put any mark on any part of the OMR
Answer Sheet, except for the space allotted for the relevantentries, which may disclose your identity, you will render yourselfliable to disqualification.
9. You have to return the test OMR Answer Sheet to the invigilatorsat the end of the examination compulsorily and must NOTcarry it with you outside the Examination Hall.
10. You can take away question booklet and carbon copy ofOMR Answer Sheet after the examination.
11. Use only Blue/Black Ball point pen.12. Use of any calculator, Electronic gadgets or log table etc.,
is prohibited.13. There is no negative marks for incorrect answers.14. In case of any discrepancy found in the Kannada
translation of a question booklet the question in Englishversion shall be taken as final.
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K-0316 3 Paper III
������� Total Number of Pages : 32
1. When price elasticity is equal to unitymarginal revenue will be
(A) One
(B) Zero
(C) > 1
(D) < 1
2. Limit price is a price that
(A) Limits excess profits
(B) Restricts output
(C) Prevents entry
(D) Encourages exit
3. Given the neo-classical aggregate supplycurve, an increase in effective demandresults in
(A) An increase in income and prices
(B) An increase in price levels anddecrease in income
(C) An increase in price levels andunchanged income
(D) Increase in income and unchangedprice
4. In agriculture, marketable surplus can bedefined as
(A) Current production + Stock
(B) Current production – Marketedsurplus
(C) Current production – Currentconsumption
(D) Current production – Stock –Current consumption
5. The gains from devaluation of currencyare expected to accrue to a nation in the
form of increase in
(A) Exports
(B) Imports
(C) Production
(D) Investment
6. Which is the first State in India to start a
Programme for the Empowerment of
Women ?
(A) Karnataka
(B) Kerala
(C) West Bengal
(D) Uttar Pradesh
7. In calculating GNP which of the
following is excluded ?
(A) Interest payments
(B) Government transfer payments
(C) Rental incomes
(D) Net income from abroad
8. The derivative of a constant is
(A) One
(B) Zero
(C) Infinity
(D) Indeterminate
ECONOMICS
PAPER – III
Note : This paper contains seventy-five (75) objective type questions. Each questioncarries two (2) marks. All questions are compulsory.
Paper III 4 K-0316
������� Total Number of Pages : 32
9. 87��1�������g�7\e������4����*���4�N��>b�E���h����"�E���;�F��7'�� b���7#�1����`(A) 2012
(B) 2013(C) 2014
(D) 2015
10. !)���*�E�����!:�1�������O�N (������4� 5�����*�E��4����
(A) ������
(B) �7 �,
(C) i���
(D) )�1���
11. 87��1����3����-��d�-���������� 4�')�����E��!H������A��`(A) SBI(B) RBI
(C) IDBI(D) EXIM Bank
12. (������(��;�T(����� �����7;�e����(7 0�(��G170���7�7.�N17���Y�����"��j j���1����k
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(D) 120
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K-0316 5 Paper III
������� Total Number of Pages : 32
9. In India the ‘National Urban HealthMission’ was launched in the year
(A) 2012
(B) 2013
(C) 2014
(D) 2015
10. The multidimensional poverty index
consists of
(A) Three dimensions
(B) Four dimensions
(C) Five dimensions
(D) Ten dimensions
11. Who is the custodian of National
Reserves of International Currency ?
(A) SBI
(B) RBI
(C) IDBI
(D) EXIM Bank
12. The table below represents a typical
production possibility curve of a country.
Units ofFood
50 60 70 80 90
Units ofClothing
150 145 135 120 100
Calculate the opportunity cost ofincreasing food production from70 units to 80 units
(A) 80(B) 10
(C) 15(D) 120
13. Regression coefficient is independent of(A) Origin
(B) Scale
(C) Both origin and scale
(D) Neither origin nor scale
14. The New Growth Theory assumestechnology as
(A) Endogenous
(B) Exogenous
(C) Constant
(D) Neutral
15. Terms of trade is defined as
(A) (Price of imports × Volume ofimports) ÷ (Price of exports ×Volume of exports)
(B) (Price of imports × Volume ofexports) ÷ (Price of exports ×Volume of imports)
(C) Volume of imports ÷ Volume ofexports
(D) Volume of exports ÷ Volume ofimports
16. In indifference curve analysis the priceeffect is a combination of
I. Income effect
II. Substitution effect
III. Negative income effect
IV. Positive price effect
Codes :
(A) I and III
(B) I, III and IV
(C) I and II
(D) I, II, III and IV
Paper III 6 K-0316
������� Total Number of Pages : 32
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(B) (I) – (II) – (III)(C) (I) – (II) + (III)
(D) (I) + (II) – (III)
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(7�7���(�'��������)� ���k
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K-0316 7 Paper III
������� Total Number of Pages : 32
17. According to Karl Marx the value of acommodity is equal to
I. Surplus value
II. Constant capital
III. Variable capital
Codes :
(A) (I ) + (II) + (III)
(B) (I) – (II) – (III)
(C) (I) – (II) + (III)
(D) (I) + (II) – (III)
18. The following is a list of activities in aneconomy. Which of them fall in thedomain of government according toMusgrave ?
i. Allocation
ii. Production
iii. Distribution
iv. Stabilisation
Codes :
(A) (i) and (ii)
(B) (i), (ii) and (iii)
(C) (i), (iii) and (iv)
(D) (i), (ii), (iii) and (iv)
19. An expansion of the government debtcould result in
I. Decline in savings
II. Increase in Interest rates
III. Decline in investment
IV. Reduction in interest rates
Codes :
(A) I, III and IV
(B) IV only
(C) I, II and III
(D) II and IV only
20. Consider the following distributions :
1. Z-distribution
2. t-distribution
3. Binomial distribution
4. F-distribution
Which of these are not sampling
distribution/s ?
Codes :
(A) 1 only
(B) 3 only
(C) 1 and 2 only
(D) 3 and 4 only
21. Identify the right chronological order of
the following :
I. Theory of Monopolistic Competition
II. Curnot’s Theory of Duopoly
III. Marshall’s Theory of Quasi-rent
IV. Sweezy’s Kinked Demand Curve
Analysis
Codes :
(A) IV III I II
(B) I III II IV
(C) II III I IV
(D) III I IV II
Paper III 8 K-0316
������� Total Number of Pages : 32
22. ��(������l��4������"�(7�7���(�'������
P��5��k
I. WTO ��O��
II. GATT ���G���4C����1���
III. GATT �����O��
IV. UNCTAD �����O��
��:O������ H
(A) I III II IV
(B) IV III II I
(C) III IV II I
(D) II IV I III
23. ��(��������$87��4������"�>��4�����7'�� 8�� ��
>b�J�n�E���>���(�'��������)� ���k
I. >b�N(����� -�����7n 1�
II. ���N�������1�����E4�F���@xX����������7n 1�
III. *5F�����1��\@4��_
IV. (75F�����1��\@4��_
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(A) III I IV II
(B) IV III II I
(C) I II III IV
(D) IV III I II
24. ��(��4���f@���E5����� WTO ��
>U�3���4������"��(7�7���(�'��������)� ��
I. )7 4�(7 4�
II. D7�
III. �X���j
IV. v�7
��:O������ H
(A) III II IV I
(B) I III II IV
(C) IV II III I
(D) II I IV III
25. ��(��4�������������+��c�4������"��>��4����
�7'�� 8�7���(7�7���(�'��������)� ���k
I. D7 D�+��c�
II. 47 U�+��c�
III. c���+��c�
IV. ��VF������+��c�
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(A) I II III IV
(B) II I IV III
(C) IV III II I
(D) I III IV II
K-0316 9 Paper III
������� Total Number of Pages : 32
22. Select the option having the right
Chronological order :
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
23. Starting from the earliest, arrange the
following concepts in terms of their
development :
I. Revealed Preference Theory
II. Neuman and Morgenstein utility
theory
III. Ordinal utility
IV. Cardinal utility
Codes :
(A) III I IV II
(B) IV III II I
(C) I II III IV
(D) IV III I II
24. Give a chronological order of the WTOConferences :
I. Hongkong
II. Bali
III. Nairobi
IV. Geneva
Codes :
(A) III II IV I
(B) I III II IV
(C) IV II III I
(D) II I IV III
25. Arrange the following in the order starting
from the earliest :
I. The Bombay Plan
II. The Gandhian Plan
III. The People’s Plan
IV. Sarvodaya Plan
Codes :
(A) I II III IV
(B) II I IV III
(C) IV III II I
(D) I III IV II
Paper III 10 K-0316
������� Total Number of Pages : 32
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>b�E��
III. !J)�1���4����(7��F(�'��
IV. �7�]�F��4����>b�E��
��:O������ H
(A) I II III IV
(B) III I IV II
(C) II IV III I
(D) I III II IV
27. 1��\@4��_��� j !(���� U = f(x, y) A���K� 9
U = ���@� � 1��\@4��_-���K� 9� x ��1��� y� 4����
>���8����� @�@��/��:�������(��4��7����1��%�>���$�&
!P]��-�&���j !(���� yPxPC yx ⋅+⋅=
A���K� 9� Px ��1���� Py 9� ‘x’ )74��� ‘y’ ����(��4���
D��E����1��%�R���7K4�� �1��\@4��_���4�$;�T1
�E74���7.�N74��1���+� �����̀
(A)x
y
P
P
dydf
dxdf =
(B)y
x
PP
dydf
dxdf =
(C)y
x
PP
dydf
dxdf ==
(D)x
y
P
P
dydf
dxdf ==
28. K {�! :�7��9� L {�3�'��9� w {�(���9
r {�!5<����9� C {�G170���7�O�[��/ ���
87-����9�����O�[����Y���AHP7�����"
(Slope) __________ �(�,)7(�!)�����%
(A)wC
(B) Lrw
rC ⋅−
(C)rw
(D)LC
29. (������/��:�����f@4������"��)� ���k
��IJ – I ��IJ– II
a) H0�1��70��7K4� 1) ��������E��J?|(�
>�����"����$�/ ��� �E��$
�C�(�$��������
b) 5�'����*a� 2) /��:����-.���}'�:� 4����7��$ ���;������7���������
c) ~(���������c���� YN 3) .��71��(�7�&���?���-1���Z
d) ���7��$�> !)����(� 4) (X�,xC����-1���Z
��:O������ H
a b c d
(A) 2 4 3 1
(B) 1 2 3 4
(C) 2 4 1 3
(D) 4 1 2 3
K-0316 11 Paper III
������� Total Number of Pages : 32
26. Arrange the following major urban
development programmes by the year of
their implementation starting from the
earliest to the latest.
I. Integrated Development of Small
and Medium Towns
II. Jawaharlal Nehru National Urban
Renewal Mission
III. Megacity Programme
IV. Smart Cities Mission
Codes :
(A) I II III IV
(B) III I IV II
(C) II IV III I
(D) I III II IV
27. The utility function is given as U = f(x, y),
where U = total utility and x and y are the
two goods consumed. The budget
constraint is given as yPxPC yx ⋅+⋅= ,
where Px and Py are the prices of ‘x’ and
‘y’ respectively. The condition for
maximisation of utility is
(A)x
y
P
P
dydf
dxdf =
(B)y
x
PP
dydf
dxdf =
(C)y
x
PP
dydf
dxdf ==
(D)x
y
P
P
dydf
dxdf ==
28. Following symbols are given K = Capital,
L = Labour, w = wage rate, r = Rate of
Interest, C = Cost of Production. The
slope of the ISO-cost line is given by
(A)wC
(B) Lrw
rC ⋅−
(C)rw
(D)LC
29. Match the following :
List – I List – II
a) Acceptance of 1) Simple random
H0
when it is sampling
falles
b) Mean equal to 2) Type II error
degrees of
freedom
c) Population is 3) Positively
homogeneous skewed
distribution
d) Mean > Mode 4)2χ distribution
Codes :
a b c d
(A) 2 4 3 1
(B) 1 2 3 4
(C) 2 4 1 3
(D) 4 1 2 3
Paper III 12 K-0316
������� Total Number of Pages : 32
30. ��(�������4������"��)� ���!�#�$�k
��IJ – I ��IJ – II
a) �����7�D�5( 1) �E���(�]@��Y -8�v�(���_
b) ��a������Y 2) v4����D�
c) �����W����Y 3) >��N���N�D�5(
d) (� (��D�5(���Y 4) >���E��1
5) �7�Fc�(�(� �7��
��:O������ H
a b c d
(A) 1 4 5 3
(B) 3 5 4 2
(C) 1 5 3 2
(D) 4 2 3 1
31. ��(�������4������"��)� ���!�#�$�k
��IJ – I ��IJ – II
a) !J)�1��1�����-(�� 1) �7:7����7n 1�
b) >���-�1��3�'���� 2) >B�F����V�X( �#���
c) 7N�7���D���I4�� 3) /����� 1�'
d) *^F(��D���I4�� 4) (��P��]�W��$87;
��:O������ H
a b c d
(A) 4 3 2 1
(B) 1 2 3 4
(C) 2 3 4 1
(D) 3 4 1 2
32. ���(�������4������"��)� ���!�#�$�k
��IJ – I ��IJ – II
a) >b�N(���� -�� 1) (7��F��E(�WF��7n 1�
b) )O��[�$��LM N 2) �7�����C�$��
c) (� (���D�5(�� 3) �7N���N��������Y
d) -�1�4�H��� 4) /%�!��u����*�� ����&
��:O������ Ha b c d
(A) 3 1 2 4
(B) 1 3 4 2(C) 2 1 3 4
(D) 4 2 1 3
33. ��(�������4������"��)� ���!�#�$�k
��IJ – I ��IJ – II
a) > 1����7\e��� 1) (��;�T��D ! �D�7N�7�����&
b) (X47$(7���& 2) ����1���1�*����N�����f@
c) (�J\���& 3) a�E
d) (��d������& 4) /=W�L���7��
��:O������ H
a b c d
(A) 2 1 3 4
(B) 4 3 1 2
(C) 1 2 4 3
(D) 3 4 2 1
K-0316 13 Paper III
������� Total Number of Pages : 32
30. Match the following :
List – I List – II
a) Offer curve 1) MarketSegmentation
b) Laffer curve 2) Sticky price
c) Lorenz curve 3) Reciprocaldemand
d) Kinked demand 4) Inequalities
curve
5) Public revenue
Codes :
a b c d
(A) 1 4 5 3
(B) 3 5 4 2
(C) 1 5 3 2
(D) 4 2 3 1
31. Match the following :
List – I List – II
a) Theory of 1) RodanBig Push
b) Unlimited supply 2) Arthur Lewisof labour
c) Trade as an 3) Emeryengine of growth
d) Concept of 4) Kuznetseconomic growth
Codes :
a b c d
(A) 4 3 2 1
(B) 1 2 3 4
(C) 2 3 4 1
(D) 3 4 1 2
32. Match the following :
List – I List – II
a) Revealed 1) Karl Marx
preference
theory
b) Surplus value 2) Paul Sweezy
c) Kinked demand 3) Samuelson
curve
d) Point of 4) A. Bergson
constrained bliss
Codes :
a b c d
(A) 3 1 2 4
(B) 1 3 4 2
(C) 2 1 3 4
(D) 4 2 1 3
33. Match the following :
List – I List – II
a) Foreign trade 1) Minimum
policy support price
b) Industrial policy 2) Balanced
budget
c) Agricultural policy 3) FEMA
d) Fiscal policy 4) Exim policy
Codes :
a b c d
(A) 2 1 3 4
(B) 4 3 1 2
(C) 1 2 4 3
(D) 3 4 2 1
Paper III 14 K-0316
������� Total Number of Pages : 32
34. ��(�������4������"��)� ���!�#�$�k
��IJ – I ��IJ – II
a) 471�'(,���� ! U��� 1 1) 1=β+α~$(�����'&a�
b) 471�'(,���� ! U��� 1 2) 1>β+αAH(�����'&a�
c) 471�'(,���� ! U��� 1 3) 1<β+α�������'&a�
d) (��4��u-(�����'&a� 4) 1, >βα
��:O������ H
a b c d
(A) 2 3 1 4
(B) 2 3 4 1
(C) 3 2 4 1
(D) 3 2 1 4
35. ��(�������4������"��)� ���!�#�$�k
��IJ – I ��IJ – II
a) 4��_(� 1) :7����7���=��
b) ��'�N1���!� 2) *��%�/a�%�Y7��
c) )�_�������1�1 3) P%�/�L�%�(���W
d) ��'�N1����7+� 4) P��L�W��]7j��
��:O������ H
a b c d
(A) 1 3 2 4
(B) 2 1 4 3
(C) 2 3 1 4
(D) 3 2 4 1
36. ��(�������4������"��)� ���!�#�$�k
��IJ – I ��IJ – II
a) ����� )������-�& 1) 3������E���(�]@
b) O� �7']���-�& 2) *)7�����&
c) >bv1������ 3) �7N������.7��Z��-�&
d) P%�P%�A�7����-�& 4) D7N (�4������.7��Z
��:O������ H
a b c d
(A) 1 3 4 2
(B) 4 1 2 3
(C) 2 3 1 4
(D) 3 2 4 1
37. ��(�������4������"��)� ���!�#�$�k
��IJ – I ��I�J – II
a) *��3�F�*�7�� 1) O7��WF��]XDM]�1$4
b) �7c=������*^F(� 2) t�����/%�aX����7n 1�
c) ���H�����7�Fc�(� 3) /a�%��7�L�������(��4����
d) 3����N��*.7$1� 4) > 1�I�:M��W*���N�����f@
��:O������ H
a b c d
(A) 3 1 4 2(B) 2 3 1 4(C) 3 2 1 4
(D) 3 4 1 2
K-0316 15 Paper III
������� Total Number of Pages : 32
34. Match the following :
List – I List – II
a) Increasing returns 1) 1=β+αto scale
b) Decreasing returns 2) 1>β+αto scale
c) Constant returns 3) 1<β+αto scale
d) Diminishing returns 4) 1, >βα
Codes :
a b c d
(A) 2 3 1 4
(B) 2 3 4 1
(C) 3 2 4 1
(D) 3 2 1 4
35. Match the following :
List – I List – II
a) Multiplier 1) Don Patankin
b) Liquidity trap 2) R. F. Khan
c) Neutrality of 3) J. M. Keynes
Money
d) Liquidity Spectrum 4) James Tabin
Codes :
a b c d
(A) 1 3 2 4
(B) 2 1 4 3
(C) 2 3 1 4
(D) 3 2 4 1
36. Match the following :
List – I List – II
a) Narasimham 1) Share marketCommittee
b) Chandrate 2) Food policyCommittee
c) Abhijit Sen 3) Law reformsCommittee
d) J. J. Irani 4) Banking reformsCommittee
Codes :
a b c d
(A) 1 3 4 2
(B) 4 1 2 3
(C) 2 3 1 4
(D) 3 2 4 1
37. Match the following :
List – I List – II
a) Optimal income 1) Charles Tiebouttaxation
b) An economic 2) Peter A. Phyrrtheory of politics
c) Local public 3) F. Ramseygoods
d) Zero based 4) Anthony Downsbudgeting
Codes :
a b c d
(A) 3 1 4 2
(B) 2 3 1 4
(C) 3 2 1 4
(D) 3 4 1 2
Paper III 16 K-0316
������� Total Number of Pages : 32
38. ��(�������4������"��)� ���!�#�$�k
��IJ – I ���IJ– II
a) ~$(�O�[���(X47$( 1) �������@�����7F�U��V�X(����Y
b) AH(�O�[���(X47$( 2) .��71��(���P7$(�����7F�U��V�X(���Y
c) �����O�[����(X47$( 3) s�Z71��(�P7$(�����7F�U��V�X(���Y
��:O������ H
a b c
(A) 1 2 3
(B) 3 2 1
(C) 2 3 1
(D) 2 1 3
39. ��(�������4������"��)� ���!�#�$�k
��IJ – I ��IJ – II
a) ��'��3�F�����$Z7�� 1) (���W
b) �� ��&������$Z7�� 2) :�����D$
c) !5<���������$Z7�� 3) }4��
��:O������ H
a b c
(A) 1 2 3
(B) 2 3 1
(C) 3 2 1
(D) 3 1 2
40. ��(�������4������"��)� ���!�#�$�k
��IJ – I ��IJ – II
a) 100qpqp
00
01 ×∑∑ 1) }3���
b) 100qpqp
qpqp
1000
1101 ×××
∑ ∑∑ ∑ 2) �73[
c) 100qp
qp
qp
qp
10
11
10
01 ××∑∑
∑∑ 3) (���
d) 100qp
qp
0
1 ×∑∑ 4) �E;�F��
��1���/:�z�1�F
��:O������ Ha b c d
(A) 1 2 3 4(B) 2 3 4 1(C) 2 1 4 3(D) 4 3 2 1
41. ��(�������4������"��)� ���!�#�$�k
��IJ – I ��IJ – II
a) A �7'.����;� 1) ��4������� ��M(���F(7��F(�'��
b) ����7 2) �7�Ev(�� �� ��(�6Z7(7��F(�'��
c) ��'�7�� 3) *���4�N�(7��F(�'��
d) *�L��*���j�E 4) d(�6_�(7��F(�'��+��c�
��:O������ Ha b c d
(A) 3 2 1 4(B) 2 3 1 4(C) 4 1 2 3(D) 3 4 1 2
K-0316 17 Paper III
������� Total Number of Pages : 32
38. Match the following :
List – I List – II
a) Increasing cost 1) Horizontal
industry long run supply
curve
b) Decreasing 2) Positively sloped
cost industry long run supply
curve
c) Constant cost 3) Negatively
industry sloped long run
supply curve
Codes :
a b c
(A) 1 2 3
(B) 3 2 1
(C) 2 3 1
(D) 2 1 3
39. Match the following :
List – I List – II
a) Demonstration 1) Keynes
effect
b) Wealth effect 2) Duesenbery
c) Interest rate 3) Pigou
effect
Codes :
a b c
(A) 1 2 3
(B) 2 3 1
(C) 3 2 1
(D) 3 1 2
40. Match the following :List – I List – II
a) 100qpqp
00
01 ×∑∑ 1) Fisher
b) 100qpqp
qpqp
1000
1101 ×××
∑ ∑∑ ∑ 2) Paasche
c) 100qp
qp
qp
qp
10
11
10
01 ××∑∑
∑∑ 3) Kelly
d) 100qp
qp
0
1 ×∑∑ 4) Marshall
and
Edgeworth
Codes :a b c d
(A) 1 2 3 4
(B) 2 3 4 1(C) 2 1 4 3(D) 4 3 2 1
41. Match the following :
List – I List – IIa) Indradhanush 1) Urban
InfrastructureProgramme
b) RUSA 2) Social ProtectionProgramme
c) PRASAD 3) HeathProgramme
d) Aam Admi 4) EducationBima Yojana Programme
Codes :a b c d
(A) 3 2 1 4(B) 2 3 1 4
(C) 4 1 2 3(D) 3 4 1 2
Paper III 18 K-0316
������� Total Number of Pages : 32
42. ��(�������4������"��)� ���!�#�$�k
��IJ – I ����IJ – II
a) /a�%�t%�Q%��E(�F 1) ?��"� ��1���� DH�3����n14��� ! U�
b) ji/���)7�� 2) (X47$(7�E(�F G1�0��"4����
c) /%�v%��E(�F 3) �� ��,$����)�_�yG1�0��"4����
d) i%�/��%�i%��E(�F 4) (�J\�G1�0��"4����
��:O������ H
a b c d
(A) 3 4 1 2
(B) 3 1 4 2
(C) 2 1 4 3
(D) 1 4 2 3
43. ��(�������4������"��)� ���!�#�$�k
��IJ – I ��IJ – II
a) �� ! .� 1) ���E3�'��_
b) >����71� 2) (7 �3'�I
c) (7��F���1����(7��_ 3) v+���ENf'(�W���7��$
d) �7\e����*�7���� 4) 4��_.���F> =�> 3�
��:O������ H
a b c d
(A) 4 3 1 2
(B) 3 4 1 2
(C) 1 4 2 3
(D) 3 1 4 2
44. ��(�������4������"��)� ���!�#�$�k
��IJ – I ��IJ – II
a) >���8����*U(�N 1) �+�� fa�
b) ��$)7������N1�N�� 2) ���N������$87; �4F���@xX��
c) 1��\@�4��_�� 3) R(�W���O�N (�
d) *�7���-.7����E��$ 4) �E;�F��
��:O������ H
a b c d
(A) 1 2 3 4
(B) 4 3 2 1
(C) 4 2 3 1
(D) 1 4 3 2
45. �����,&����(A)�k :��N���D$������)�� 19�>���8��4���1����*�7������� ! .�����"-����F4�H���74����%
<"������(R)�H >���8��4��������N��*�7������"���E1�'>� j����9��R ���*�7������"�(��:�>� j����1���%
��:O������ H
(A) /��:���(A)���1����(R)�4�������$9�)74��(R)9�(A) �����$�E���-���Z
(B) /��:���(A)���1����(R)�4�������$9�)74��(R)�9�(A) �����$�E���-���Z�� �
(C) (A)�������$9�*����(R)���$�� �
(D) (A)�������$�� ��9�*����(R)���$
K-0316 19 Paper III
������� Total Number of Pages : 32
42. Match the following :
List – I List – II
a) FPO Mark 1) For purity of
gold and silver
b) BIS Hallmark 2) Industrial
products
c) AG Mark 3) Processed fruit
products
d) ISI Mark 4) Agricultural
products
Codes :
a b c d
(A) 3 4 1 2
(B) 3 1 4 2
(C) 2 1 4 3
(D) 1 4 2 3
43. Match the following :
List – I List – II
a) Association 1) Regression
b) Ratio 2) Time series
c) Cause and 3) Geometric
effect mean
d) National 4) Attribute
income data
Codes :
a b c d
(A) 4 3 1 2
(B) 3 4 1 2
(C) 1 4 2 3
(D) 3 1 4 2
44. Match the following :
List – I List – II
a) Consumer 1) Leontief
surplus
b) Concept of 2) Neuman
compensating Morgenstein
variation
c) Utility index 3) Hicks
number
d) Input output 4) Marshall
model
Codes :
a b c d
(A) 1 2 3 4
(B) 4 3 2 1
(C) 4 2 3 1
(D) 1 4 3 2
45. Assertion (A) : Dusenberryhypothesized thatconsumption andincome relationship isirreversible.
Reason (R) : Consumption dependsnot only on currentincome but also onprevious income.
Codes :
(A) Both (A) and (R) are correct and (R)is the correct explanation of (A)
(B) Both (A) and (R) are correct and (R)is not correct explanation of (A)
(C) (A) is correct, but (R) is not correct
(D) (A) is incorrect, but (R) is correct
Paper III 20 K-0316
������� Total Number of Pages : 32
46. �����,&����(A)�H c4���3�� 8�4��&������)�H���� 19� � ���� ��3���>�����D���I4�����'='+�����>3������D���I4�����">���8�-���1����)74���>����7N�7���(��7���4�����(��4��u1����%
<"������(R)�H �7;�e4������a���4�H4�D�5(��*�7�����&�7���(�1�C>U(�7����1���%
��:O������ H
(A) (A)���1����(R)�/��:�����$���1����(R)�9(A) �����$�E���-���Z�E��%
(B) (A)���1����(R)�/��:�����$�*���� (R)9(A) �����$�E���-���Z�E� �
(C) (A)���$9�*����(R)�1����0
(D) (A)�1����0�9�*����(R)���$
47. �����,&����(A)�H �7;�e4������������(��7N�7�����-3�C���G170�����1����*�7������"��)?[���1���%
<"������(R)�H (�5��>b�J�n��)� ����7;�e4�����7N�7������'+��c��4������"�����E��7�)� ?(�������� �%
��:O������ H
(A) (A)���1����(R)�/��:�����$���1����(R)�9(A) �����$�E���-���Z�E��%
(B) (A)���1����(R)�/��:�����$�*���� (R)9(A) �����$�E���-���Z�E� �
(C) (A)���$9�*����(R)�1����0
(D) (A)�1����0�9�*����(R)���$
48. �����,&����(A)�H c������Xc�(��7N_���>����7���7;�e4������"��3'�I�(�$�� �91��7�*�7��������!F �7.���7��%
<"������(R)�H !:��7;�e4�������!)���7 ��7\e����*�7���������E4�������A �%
��:O������ H
(A) (A)���1����(R)�/��:�����$���1����(R)�9(A) �����$�E���-���Z�E��%
(B) (A)���1����(R)�/��:�����$�*���� (R)9(A) �����$�E���-���Z�E� �
(C) (A)���$9�*����(R)�1����0
(D) (A)�1����0�9�*����(R)���$
49. �����,&����(A)�H}3����>�������O�N (���9�7N�0�����)74����7N3[�>������O7N (�4����P7-�f'(����7��$�E����1���%
<"������(R)�H >������������ �����1���> 3��� ������$�(64����:����"1�Jt���5���1���%
��:O������ H
(A) (A)���1����(R)�/��:�����$���1����(R)�9(A) �����$�E���-���Z�E��%
(B) (A)���1����(R)�/��:�����$�*���� (R)9
(A) �����$�E���-���Z�E� �
(C) (A)���$9�*����(R)�1����0
(D) (A)�1����0�9�*����(R)���$
K-0316 21 Paper III
������� Total Number of Pages : 32
46. Assertion (A) : Jagadish Bhagawati
stated that a country in
its growth process
would experience
inneherting growth and
deterioration of terms of
trade.
Reason (R) : Income elasticity of
demand for the country’s
exports is high.
Codes :
(A) Both (A) and (R) are true, (R) is the
correct explanation of (A)
(B) Both (A) and (R) are true, but (R) is
not correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
47. Assertion (A) : Free trade among
nations will increase
world output and
income.
Reason (R) : Less developed
countries do not share
equally in the gains
from trade.
Codes :
(A) Both (A) and (R) are true, (R) is the
correct explanation of (A)
(B) Both (A) and (R) are true, but (R) is
not correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
48. Assertion (A) : Per capita income
figures are poor tools of
ordinal ranking of
countries with respect
to the real well being.
Reason (R) : A good portion of the
national income in poor
countries is unreported.
Codes :
(A) Both (A) and (R) are true, (R) is the
correct explanation of (A)
(B) Both (A) and (R) are true, but (R) is
not correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
49. Assertion (A) : Fisher index number is
the geometric mean of
Laspeyer and Paasche
Indices.
Reason (R) : It satisfies both time
reversal and factor
reversal tests.
Codes :
(A) Both (A) and (R) are true, (R) is the
correct explanation of (A)
(B) Both (A) and (R) are true, but (R) is
not correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
Paper III 22 K-0316
������� Total Number of Pages : 32
50. �����,&����(A)�H 7IcN�D7N (��4�H ���(�J\4
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53. �����,&����(A)�H �a����-���.787����7�����c4�&�����>�������7��(� :���!���1���%
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K-0316 23 Paper III
������� Total Number of Pages : 32
50. Assertion (A) : Lending by Commercial
Banks to agriculture
has not increased
appreciably.
Reason (R) : Co-operative societies
suffer from lack of funds
and poor management.
Codes :
(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 correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
51. Assertion (A) : Real rate of interest is a
better indicator of returns
on savings than nominal
rate of interest.
Reason (R) : There exists an inverse
relationship between the
price level and the return
on savings.
Codes :
(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 correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
52. Assertion (A) : In India, monetary policy
alone can not reduce
inflation.
Reason (R) : There are structural
factors which make
prices rigid in the
downward direction but
flexible in the upward
direction.
Codes :
(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 correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
53. Assertion (A) : Giffin’s paradox rarely
occurs in the real world.
Reason (R) : Inferior goods are
those for which suitable
substitutes are
available.
Codes :
(A) Both (A) and (R) are true, (R) is the
correct explanation of (A)
(B) Both (A) and (R) are true, but (R) is
not correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
Paper III 24 K-0316
������� Total Number of Pages : 32
54. �����,&����(A)�H ��3�������!F ��4�F���c��$4��)7����E:������(7,�)�_(7���� ���4�����-(���>��(�6I���%
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l�(�(,��D������"
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57. �����,&����(A)�H (���������(��4����D�5(��
*�7�����&�7���(�1�C��
s�Z71��(�7��%
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K-0316 25 Paper III
������� Total Number of Pages : 32
54. Assertion (A) : Financial inclusion is
desirable to help
weaker sections of
society in the country.
Reason (R) : Investment activity
needs to be promoted to
facilitate the access to
development benefits by
masses.
Codes :
(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 correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
55. Assertion (A) : The open economy
Keynesian multiplier is
less than the closed
economy Keynesian
multiplier.
Reason (R) : The marginal propensity
to import is always
greater than marginal
propensity to consume.
Codes :
(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 correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
56. Assertion (A) : A firm under perfect
competition, can not
influence prices.
Reason (R) : Homogeneous products
are sold in a perfectly
competitive market.
Codes :
(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 correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
57. Assertion (A) : For inferior goods, the
income elasticity of
demand is negative.
Reason (R) : As income rises, goods
on which spending
grows relatively faster
than income will occupy
a rising share of income.
Codes :
(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 correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
Paper III 26 K-0316
������� Total Number of Pages : 32
58. �����,&����(A)�H (���W��>������'(7����N=�4����!$����4������"��>B�7D7 :�4������"��A��@(�����17��%
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(D) (A)�1����0�9�*����(R)���$
59. �����,&����(A)�H >����1���1��D���I4��7n 1������'(7���--.�� ��4�����-b��"������4�����D���I4�)� ���1��%
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60. �����,&����(A)�H 7N�7��- ����A�������&4)�����74�����(��7N�7��� ���G170���7��1����>���8��4���'+��c��4�����A%
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61. �����,&����(A)�k )(�[���Q#�������7n 1���9�7 ��'�7#�(����7n 1��� 11�� �71��(��O�[����"���?���1���%
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K-0316 27 Paper III
������� Total Number of Pages : 32
58. Assertion (A) : According to Keynes
individuals hold either
cach or all bonds.
Reason (R) : Because, according to
Keynes, the speculative
demand for money is
associated with
uncertainty.
Codes :
(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 correct explanation of (A)
(C) (A) is true (R) is false
(D) (A) false but (R) true
59. Assertion (A) : In the unbalanced
theory of growth,
different sectors grow at
different rates.
Reason (R) : This allows utilization
of interdependence of
economic sectors.
Codes :
(A) Both (A) and (R) are true, (R) is the
correct explanation of (A)
(B) Both (A) and (R) are true, but (R) is
not correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false but (R) is true
60. Assertion (A) : Compared to no trade,
there are production and consumption
gains to a country from free trade.
Reason (R) : The magnitude of gain
from trade is
independent of the
magnitude of price
change from no trade.
Codes :
(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 correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
61. Assertion (A) : Heckscher-Ohlin theory
indicates the classical
theory of comparative
costs.
Reason (R) : Heckscher-Ohlin theory
does not go behind the
comparative cost theory.
Codes :
(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 correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true
Paper III 28 K-0316
������� Total Number of Pages : 32
62. ��(�������4��������E��������$�� ���`
(A)YC
APCΔΔ=
(B)YC
MPCΔΔ=
(C)YC
APC =
(D) 1APSAPC =+
63. � ���������G1�0��"���Y�������(��4�:4)���� 19���'&�! :�7���l�(�(,�3�'����> ?���17 &'(��!���7�Z��������(MRTSLK)
A���1���
(A)dLdK−
(B)dLdK
(C)dKdL
(D)dKdL−
64. O��������?1�'����"��?&'��74�9�/�7���j ���4����� �������������Y�����9�/:�� ����! (,(�7b����7���K�9�*4��>�����"��R�4 ���)����17��%(A) ��$��V_F�.��71��(����)��� ! .�(B) �������.��71��(����)��� ! .�(C) ��$��V_F�s�Z71��(����)��� ! .�(D) ��)��� ! .�- �
65. ��(�������E������� ������3����>b�J�n���7�E��N����O�N (�7���`(A) )O��[�9�)O��[��(X47$(4����(B) >U(��v�������@(C) >U(���Xc�1��7�7��(D) ���.7$1���7$4��E.�N��
66. ‘‘Current Daily Status’’ ��$87�������"�E���� ��8�F������!�����74��1����`
(A) )�_�����V�X(����X�� �������7��$�� 4�')�����E��������
(B) -��d�-�������� 4�')�����X�� ������7��$��� 4�')�����E��������
(C) )�_���!������������E��������
(D) G��N�4�����1����������N�4����E��������
67. ‘‘Glocalisation’’�/ !�)������$87�����~�����"�����?���1����`
(A) P74�&(�����@������+��?�9����H������@������(7��F��'�J1���74�������
(B) ���H�������@������+��?�9�P74�&(����@������(7��F��'�J1���74�������
(C) -3�C�47'�����$(� 0�
(D) ���(����E���(�]@
68. �����1$4�����"��-U��74�
(A) ��$Z7�����1����)����!�����N=������74��1���
(B) ��$Z7�����1$4�7���������*4��1���
(C) )�����1������$Z7�����D���D����N=�4������74��1���
(D) )������1$4�7���������A���1���
69. ��(�������E��>����71�����"��*�7��)� ?(��������>���E��1�����"���E�����E:� ��!�����1���`
(A) / 4���>����71�
(B) �aw���>����71�
(C) ������ Pw���>����71�
(D) 4������>����71�
K-0316 29 Paper III
������� Total Number of Pages : 32
62. Which of the following is NOT correct ?
(A)YC
APCΔΔ=
(B)YC
MPCΔΔ=
(C)YC
APC =
(D) 1APSAPC =+
63. For downward movement along an ISO-quant, MRTS of labour per unit of capital(MRTSLK) is given by
(A)dLdK−
(B)dLdK
(C)dKdL
(D)dKdL−
64. While drawing a scatter diagram if allpoints appear to form a straight line goingdownward from left to right, then it isinferred that there is(A) Perfect positive correlation
(B) Simple positive correlation(C) Perfect negative correlation
(D) No correlation
65. The generally accepted index of aCountry’s development is(A) More and more industries
(B) Higher standard of living(C) Higher real per capita income
(D) Improved means of transport
66. ‘‘Current Daily Status’’ is a concept used
in measuring
(A) Daily average stock of money
supply
(B) Daily average stock of foreign
exchange reserves
(C) Rate of inflation
(D) Employment and unemployment
67. The new term ‘‘Glocalisation’’ refers to
(A) Think globally and act locally
(B) Think locally and act globally
(C) Accept global village concept
(D) Market openness
68. In the case of a direct tax
(A) Impact and incidence will be on the
same person
(B) Impact will be on tax payer
(C) Incidence and impact will be on
different persons
(D) Incidence will be on the tax payer
69. Income inequality is measured by
(A) Engle ratio
(B) Giffen ratio
(C) Gini-Lorenz ratio
(D) Gossen ratio
Paper III 30 K-0316
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K-0316 31 Paper III
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70. Hedging in the foreign exchange marketrefers to
(A) An act of devaluation
(B) Not covering a risk of foreignexchange in future
(C) Covering a risk of foreign exchangein future
(D) Foreign exchange control
Paraphrasing : Read the following passageand answer Q. 71 – 75 :
The causes of market segmentation are many
differences in remoteness and connectivity,
local market power of intermediaries, degree
of private sector competition, propensity of
regional exposure in shocks, local storage
capacity, mandi infrastructure and farmers’
access to them, storage life of the crop and
specific processing cost. Market segmentation
results in large differences in producer and
consumer prices. Although these differences
are location specific, they result in higher
costs for both farmers and consumers alike.
Price dispersion in measured as the ratio
between the highest and the lowest price of
the crop in a country, i.e. if this ratio were equal
to be one, it would imply that there is no price
dispersion and that there is one common
market. Price dispersion in India is about 100
percent greater than in the US.
Market segmentation also creates a "wedge"
at various points in the supply chain from the
farm-gate to the final consumer, in India.
71. Market segmentation results in higher
(A) Productivity
(B) Income
(C) Price spread
(D) Subsidies
72. Price-dispersion is calculation,differences between
(A) Prices received by categories offarmers
(B) Regional price ratios
(C) Prices received for different crops
(D) Producer’s price and consumer’sprice
73. The two ends of the supply-chain asindicated in the above paragraph are
(A) Wholesaler and retailer
(B) Government and consumers
(C) Farmers and processor
(D) Farmer and consumer
74. For a common market to exist, the pricedispersion is expected to be
(A) One
(B) Zero
(C) Undefined
(D) Lesser than before
75. In India, market segmentation isreinforced due to
(A) Poverty of farmers
(B) Inactivity of the government
(C) Price uncertainties
(D) Intermediaries
Paper III 32 K-0316
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