paper : ii subject : 24 50 papers/set … ·  · 2013-03-09test paper : ii test subject :...

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Test Paper : II Test Subject : ECONOMICS Test Subject Code : A-05-02 Test Booklet Serial No. : ______________________ OMR Sheet No. : ________________________________ Hall Ticket No. (Figures as per admission card) Name & Signature of Invigilator Name : ____________________________________ Signature : ___________________________________ Paper : II Subject : ECONOMICS Time : 1 Hour 15 Minutes Maximum Marks : 100 Number of Pages in this Booklet : 24 Number of Questions in this Booklet : 50 Instructions for the Candidates 1. Write your Hall Ticket Number in the space provided on the top of this page. 2. This paper consists of fifty 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 to open the booklet and compulsorily examine it as below : (i) To have access to the Question Booklet, tear off the paper seal on the edge of this cover page. Do not accept a booklet without sticker-seal and do not accept an open booklet. (ii) Tally the number of pages and number of questions in the booklet with the information printed on the cover page. Faulty booklets due to pages/questions missing or duplicate or not in serial order or any other discrepancy should be got replaced immediately by a correct booklet from the invigilator within the period of 5 minutes. Afterwards, neither the Question Booklet will be replaced nor any extra time will be given. (iii) After this verification is over, the Test Booklet Number should be entered in the OMR Sheet and the OMR Sheet Number should be entered on this Test Booklet. 4. Each item has four alternative responses marked (A), (B), (C) and (D). You have to darken the circle as indicated below on the correct response against each item. Example : A B C D where (C) is the correct response. 5. Your responses to the items are to be indicated in the OMR Sheet given to you. If you mark at any place other than in the circle in the Answer Sheet, it will not be evaluated. 6. Read instructions given inside 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 relevant entries, which may disclose your identity, you will render yourself liable to disqualification. 9. You have to return the test question booklet and OMR Answer Sheet to the invigilators at the end of the examination compulsorily and must not carry it with you outside the Examination Hall. 10. Use only Blue/Black Ball point pen. 11. Use of any calculator or log table etc., is prohibited. 12. There is no negative marks for incorrect answers. A¿æýÅÆæÿ$¦ËMæü$ çÜ*^èþ¯èþË$ 1. D ç³#r ò³O ¿êVæüÌZ CÐèþÓºyìþ¯èþ çܦËÌZ Ò$ çàÌý sìýMðüsý ¯èþºÆæÿ$ Æ>Äæý$yìþ. 2. 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Page 1: Paper : II Subject : 24 50 Papers/SET … ·  · 2013-03-09Test Paper : II Test Subject : ECONOMICS Test Subject Code : A-05-02 Test Booklet Serial No. : _____ OMR Sheet No. : _____

Test Paper : II

Test Subject : ECONOMICS

Test Subject Code : A-05-02

Test Booklet Serial No. : ______________________

OMR Sheet No. : ________________________________

Hall Ticket No.

(Figures as per admission card)

Name & Signature of Invigilator

Name : ____________________________________ Signature : ___________________________________

Paper : IISubject : ECONOMICS

Time : 1 Hour 15 Minutes Maximum Marks : 100

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

Instructions for the Candidates1. Write your Hall Ticket Number in the space provided on the top

of this page.2. This paper consists of fifty 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 to openthe booklet and compulsorily examine it as below :(i) To have access to the Question Booklet, tear off the paper

seal on the edge of this cover page. Do not accept a bookletwithout sticker-seal and do not accept an open booklet.

(ii) Tally the number of pages and number of questions inthe booklet with the information printed on the coverpage. Faulty booklets due to pages/questions missingor duplicate or not in serial order or any otherdiscrepancy should be got replaced immediately by acorrect booklet from the invigilator within the periodof 5 minutes. Afterwards, neither the Question Bookletwill be replaced nor any extra time will be given.

(iii) After this verification is over, the Test Booklet Numbershould be entered in the OMR Sheet and the OMR SheetNumber should be entered on this Test Booklet.

4. Each item has four alternative responses marked (A), (B), (C)and (D). You have to darken the circle as indicated below on thecorrect response against each item.

Example : A B C D

where (C) is the correct response.

5. Your responses to the items are to be indicated in the OMR Sheetgiven to you. If you mark at any place other than in the circle inthe Answer Sheet, it will not be evaluated.

6. Read instructions given inside 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 question booklet and OMR AnswerSheet to the invigilators at the end of the examination compulsorilyand must not carry it with you outside the Examination Hall.

10. Use only Blue/Black Ball point pen. 11. Use of any calculator or log table etc., is prohibited. 12. There is no negative marks for incorrect answers.

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II 1 A-05-02

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II 2 A-05-02

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II 3 A-05-02

1. The revealed preference theory is basedon the assumption of

(A) Strong ordering

(B) Weak ordering

(C) Negative income elasticity

(D) Cardinal utility analysis

2. The kinked demand curve model ofPaul Sweezy explains

(A) Price rigidity in Duopoly

(B) Price rigidity in Oligopoly

(C) Price determination in Duopoly

(D) Quantity determination in Duopoly

3. The psychological law of consumption isgiven by

(A) A. C. Pigou

(B) Milton Friedman

(C) J. Tobin

(D) J. M. Keynes

4. High-powered money is also called as

(A) base money

(B) narrow money

(C) broad money

(D) plastic money

1. ����������� �� ������� ���� g�������� h� �� ������"�����i�����'��������� ������ �������

(A) � �!��"����� ������(B) � #$"����� ������(C) ���j%��k����i����"�����&'�����(D) ��()��*+"��� �,"-l���./�"0�1j"

2. ��*+" #�2m� �� �����3��� ����+�� n�� �����-��4�� ��'5� ���66.��(�'�����

(A) ���2��2�o�2�������*7�������'�����8�����2����(B) � (.����o�2�������*7�������'�����8�����2����(C) ���2����2�o�2�������*7�������'�6��'9��"�����(D) ���2����2�o�2�������*7�� (��-j"�6��'9��"�����

3. �������:��2�.6�,"-������-���6;��� �����3�������'�<

(A) =<��<�� ���-(B) .� >�+���#p�4�����+�(C) ?,"<�@%q�+�(D) ?,"<=�+��<��n��+�r

4. A�����/"��� :������!��"��� ������6;��������� ��6*7� ���6;��� (���j�"o�:��'�

(A) i���(�������������(B) �������3�������������(C) ./� �����������(D) ��0��>�4������������

ECONOMICS

e���� ����f��Paper – II

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II 4 A-05-02

5. Knife-edge problem arises in

(A) Solow Model

(B) Kaldor Model

(C) Joan Robinson Model

(D) Harrod-Domar Model

6. India’s Second Five Year Plan wasbased on

(A) Harrod-Domar Model

(B) Mahalanobi’s Model

(C) Joan Robinson’s Model

(D) Kaldor’s Model

7. Primary deficit is

(A) Fiscal deficit – relending by theGovernment

(B) Revenue expenditure – revenuereceipts

(C) Fiscal deficit – interest payments

(D) Total expenditure – total receipts

8. Adjustment under gold-standard is carriedout by

(A) flexible exchange rate

(B) exchange controls

(C) variation in national income

(D) price specie flow mechanism

9. The average annual growth of agricultureduring the Eleventh Five Year Plan periodwas

(A) 4 percent

(B) 3.3 percent

(C) 2.5 percent

(D) 4.5 percent

5. �!�""spt=�4�u���������h������-��*7�B��C��;����������

(A) ov*7������-��

(B) �!�*7)�4'������-��

(C) ?7�+����q��r�+�������-��

(D) D��'�4�t��&����4'������-��

6. E%��'�����/"��!'�������� �'�����'w��� j%x����F������-��i�����'������'-�y���� �������

(A) D��'�4��t��&����4'������-��

(B) ����$" �&qs�������-��

(C) ?7�+����q��r�+�������-��

(D) ��*%)�4'������-��

7. ���z��.�����*7���A����

(A) �&/"�*7�� – �� E�"���2����'���� G���4'���j% �

(B) ����"����� – �!'�!���-�������� �

(C) �&/"�*7�� – ���n�)�'!�H0�� G �

(D) �!�����:���������"����� – �!�����:������������ �

8. ��2��'9��� ��-j"�������I�������������'�JK%�������������6*7����6��2���l��'��������

(A) A��I��'���-��'���� G���'��

(B) .6�����"��6��"�����j% �

(C) ?%L��"-����"�����*7���-��'�C �

(D) ������'��� ���$"������"�������������

9. 11 ��� � �'�����'w� �� j%x��� �� �*7� ����o���"���'�����o����3���o� ���(�����������8�g���'��

(A) 4 /�������

(B) 3.3 /�������

(C) 2.5 /�������

(D) 4.5 /�������

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II 5 A-05-02

10. The relationship between arithmetic

mean (m), geometric mean (g) and

harmonic mean (h) is

(A) hmmh

g+

=

(B) mhg =

(C)2

hmg

+=

(D) None of the above

Note : Choose the correct combination

according to codes :

11. Which of the following factors are

responsible for changes in demand ?

I. Changes in consumer taste

II. Changes in real income

III. Changes in distribution of income

IV. Changes in the rates of taxation

Code :

(A) I and II only

(B) II and III only

(C) I, II and IV only

(D) I, II, III and IV

10. A������������������� (m), ����j"������������������(��"��

�$"��'��������������� ����������� ��������������

(A) hmmh

g+

=

(B) mhg =

(C)2

hmg

+=

(D) M "���N�������

11. ��������O �PQ6���A�/� *7�h�A�/� �������-�����*7

��-��'�C ��L����������o�:�'��

I. .6�,"-�������'�6�A{��'�'�� *7���-��'�C �

II. 6l�i����"�����*7���-��'�C �

III. i����"��� �� jn"*7����E�".�'�����-��'�C �

IV. � ���;���'�0*7���'��R���-��'�C �

����� :

(A) I ���(��"�� II ��-�������

(B) II ���(��"�� III ��-�������

(C) I, II ���(��"�� IV ��-�������

(D) I, II, III ���(��"�� IV

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II 6 A-05-02

12. Which of the following are correct ?

I. TC = TFC + TVC

II.QTC

MCΔ

Δ=

III. ATC = AVC + AFC

IV.QTC

AFC =

Code :

(A) I and IV are correct

(B) II and IV are correct

(C) I, II and III are correct

(D) I, II, III and IV are correct

13. In the following diagram, c = f(y) indicates

I. APC = MPC

II. Long run relationship

III. Proportional relationship

Code :

(A) I and III only are correct

(B) I only is correct

(C) II and III are correct

(D) I, II and III are correct

12. ����������6*7�h.���(�,"�"��.�?

I. TC = TFC + TVC

II.QTC

MCΔ

Δ=

III. ATC = AVC + AFC

IV.QTC

AFC =

����� :

(A) I ���(��"�� IV ���!'""��.

(B) II ���(��"�� IV ���!'""��.

(C) I, II ���(��"�� III ���!'""��.

(D) I, II, III ���(��"�� IV ���!'""��.

13. ��������S��2�������� �����*7, c = f(y) ��-3�3������������

I. APC = MPC

II. |��'}��H�����������������

III. A���������������������

����� :

(A) I ���(��"�� III ��-����������(�,"�"��.

(B) I ��-����������(�,"�"���

(C) II ���(��"�� III ��(�,"�"��.

(D) I, II ���(��"�� III ��(�,"�"��.

x

yy

x

.6�,"-�������

i����"�����

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II 7 A-05-02

14. According to classical theory, an increasein money supply leads to proportionate

I. Decrease in price level

II. Increase in price level

III. Fall in the value of money

IV. Rise in the value of moneyCodes :

(A) In I and IV

(B) In II and III

(C) In II and IV

(D) In I and III

15. The theory of balanced growth wasdeveloped by

I. Rosenstein Rodan

II. Ragnar Nurskse

III. Hirschman

IV. LeibensteinCodes :

(A) I and IV

(B) II and III

(C) I and II

(D) II and IV

16. Which of the following are pure publicgoods ?

I. Defence

II. Roads

III. Street lights

IV. EducationCodes :

(A) I, II and III (B) I and II

(C) I and III (D) I, II, III and IV

14. o���� ����"�� ���� g����� � � ����'�� ������� ����' �p��*7M ��'�������� ��� �������������6*7����6*7�A����������-��'�C��'��R���

I. ������' �o�I�'��*7�������~���

II. ������' �o�I�'��*7�M ��'��������

III. �������. ���*7�������~���

IV. �������. ���*7�M ��'�������

�������g

(A) I ���(��"�� IV

(B) II ���(��"�� III

(C) II ���(��"�� IV

(D) I ���(��"�� III

15. ������H�����8�g�����g�����������A{��8�g�� (3���

I. �&M��+�M�>�+���&���+� II. ��'��;�4'����4'Q�r

III. M$"�4'Q�r����+� IV. *,""K,"�!�M��>�+�

�������g

(A) I ���(��"�� IV (B) II ���(��"�� III

(C) I ���(��"�� II (D) II ���(��"�� IV

16. ����������6*7�h.����� T��'9�!��"���� q0�4�������:��G �

I. ��'U��j" II. �&����0

III. N���|�� � IV. .���

������ :

(A) I, II ���(��"�� III (B) I ���(��"�� II

(C) I ���(��"�� III (D) I, II, III ���(��"�� IV

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II 8 A-05-02

17. Two of the following economists arguedthat international trade is detrimental to theindustrialisation of developing countries

I. Haberler

II. Ricardo

III. Myrdal

IV. Prebisch

Codes :

(A) I and II (B) I and III

(C) II and IV (D) III and IV

18. The reasons for fast growth of publicexpenditure in India in recent years are

I. Urbanisation

II. Interest payments

III. Subsidies

IV. Defence expenditure

Codes :

(A) I, II and III only

(B) I, II and IV only

(C) II, III and IV only

(D) I, II, III and IV

19. The two regression lines will coincidewhen

I. r = 0

II. r = +1

III. r = –1

IV. r > 0Codes :

(A) II and IV are correct

(B) II and III are correct

(C) I and II are correct

(D) I and IV are correct

17. ��������O �PQ6�����(*7�S���J��'��A��'I/���������: ��A{��8�g'!�����������;����/� ���(�/�.��n������'j"����A�����uL��"���j�"l��.��/"O$"�����G���������������6��!�H� �������'�

I. D���'0�4' II. (���&)

III. .���J*+" IV. �M qs1������ :

(A) I ���(��"�� II (B) I ���(��"�� III

(C) II ���(��"�� IV (D) III ���(��"�� IV

18. S@ n"��H�� �*7� E%��'�����/"�*7� �� E�"���2� ����"�����A�����������M ��'���������������'j% �

I. � �>jn"�����'j" II. ���n�)�'!�H0�� G �

III. ��qr�n� � IV. ��'U��j"�����"����������� :

(A) I, II ���(��"�� III ��-�������

(B) I, II ���(��"�� IV ��-�������

(C) II, III ���(��"�� IV ��-�������

(D) I, II, III ���(��"�� IV

19. �!'�������� �������j"���'5 ��=� ������.�������������I. r = 0 II. r = +1

III. r = –1 IV. r > 0

������ :

(A) II ���(��"�� IV ��(�,"�"��.

(B) II ���(��"�� III ��(�,"�"��.

(C) I ���(��"�� II ��(�,"�"��.

(D) I ���(��"�� IV ��(�,"�"��.

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II 9 A-05-02

Note : The following questions consist of twostatements : One labelled as the‘Assertion’ (A) and the other as‘Reason’ (R). You are to examine thesetwo statements carefully and select theanswers to these items using the codesgiven below :

20. Assertion (A) : Indifference curves areconvex to the origin.

Reason (R) : The marginal rate ofsubstitution of X for Y(MRSXY) is diminishing.

Codes :

(A) Both (A) and (R) are true and (R) isthe correct explanation of (A)

(B) Both (A) and (R) are true and (R) isnot the correct explanation of (A)

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

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

21. Assertion (A) : In monopolisticcompetition, a firmearns only normal profitin the long run.

Reason (R) : A firm in monopolisticcompetition produces acommodity which has noclose substitutes.

Codes :

(A) Both (A) and (R) are true and (R) isthe correct explanation of (A)

(B) Both (A) and (R) are true but (R) is notthe correct explanation of (A)

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

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

�����: ��������� /"; ���!'�������� �������� �������HV��"����;.���������66��� ���������(A) ���(��"�������P������66O$"�����G (R) ��� ����(:�'�����!��"���<�N���'��F� �� �������� ���� � (�H�3� ������� �&�4�r����B� �,"-V�3l���� ����=�� ����'����"������<

20. ����������� (A) : B��#������������'5 ����- q�������G���������E%����'�������B��������

�������� (R) : B�������� �o�I� �����'�� X ,Y ������� (MRSXY) Un�j�"�'�����

������ :

(A) (A) ���(��"�� (R) �!'����-� ��(�,"�"���������(��"��(R), (A) �������(�,"�"���.����'j"���'!�� C��'��R���

(B) (A) ���(��"�� (R) ���!'����-���(�,"�"��������6 (R),(A) �������(�,"�"���.����'j"������

(C) (A) ���!'"��������6 (R) ��(������

(D) (A)����(��"�� (R) �!'����-����-������!'"��.�����G

21. ����������� (A) : h���o�2�����v@n"���-�!'Q@+"�����������������I�|��'}�� ����*7o���-���*%E% ������-��������y��������<

�������� (R) : =������� �������h���o�2�����v@n"��-�!'Q@+"*7� ����� �����I� ��N�� �� ����-;��"�����*W"6������:��G ���B��C�:'����"�����

������ :

(A) (A), (R) �!'����-���(�,"�"������A���������� (R), (A)��������!'"���.����'j"�A�'���B��;�

(B) (A),(R) �!'����-����!'"��������6�(R), (A) ��������!'"��.����'j"�������

(C) (A)����!'"��������X (R) �������'IX��"������������

(D) (A) ��M "C������6 (R) ���!'"���

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II 10 A-05-02

22. Assertion (A) : Life Cycle Hypothesis

attempts to reconcile

the short-run and the

long run consumption

functions.

Reason (R) : Short-run consumption

function implies that

APC declines as income

increases.

Codes :

(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 explanation of (A)

(D) Both (A) and (R) are true and (R) is

the correct explanation of (A)

23. Assertion (A) : Solow model of growth

predicts steady state

growth.

Reason (R) : Saving – investment

equality is assumed in

the model.

Codes :

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

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

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

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

22. ����������� (A) : m����'������� (��� C�����-���������2 C��� ����(��"���|��'}�� .6�,"-�����p ���� ���A����������������'����"��������� ��"��;�3���

����������� (R) : i����"������M ��'����������;� �������� ����� .6�, "-���� � � � �8�:������ ~����� ��2 C�� �.6�,"-����p ������!� �� G���<

������ :

(A) (A), ���!'"������X (R) ���!'"����������

(B) (A),(R) �!'����-����!'"��.�����G

(C) (A)��(R) �!'����-����!'"��������6�(R), (A)��������!'"��.����'j"�������

(D) (A), (R) �!'����-����!'"���������(��"���(R), (A) �������!'"���.����'j"�A�'����G��;�

23. ����������� (A) : ov*7���8�g������-���6 ���������I�*7���-��������8�g6�A�'������������

�������� (R) : �y������G�t� M ��>����� ����-����� � � �����"�� ���� i � ��� �'� �������'-�y�����

������ :

(A) (A), (R) ���!'����-���(�,"�"�����

(B) (A) ���!'"�������������X (R) ���!'"���

(C) (A) ���!'"��������X (R) ���!'"����������

(D) (A), (R) ���!'����-����!'"��.�����G

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II 11 A-05-02

24. Assertion (A) : According to

Ursula K. Hicks, direct

taxes are superior to

indirect taxes.

Reason (R) : The allocative effects of

direct taxes are superior

compared to that of

indirect taxes.

Codes :

(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 and (R) is true

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

25. Assertion (A) : Factor priceequalisation

theorem deals with the

effects of trade on factor

prices.

Reason (R) : Trade in goods has no

effect on factor prices.

Codes :

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

the correct explanation for (A)

(B) Both (A) and (R) are true but (R) is not

the correct explanation for (A)

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

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

24. ������������(A) : A�4'r*%� �$"�4�r� �� ����'����� �� ��U��� ���; �� � �&U��� � ���; � �����;���!�-��;���!��"��.

�������� (R) : �� ��U���� ���; ��,"�����Q���@%�'���� G� �� E%�� �� � �&U��� ���; � ���@%�'���� G� �� E%�� �����;����!�-��;������������ ��G

������ :

(A) (A),(R) �!'����-���(�,"�"��������X (R), (A) ��������!'"��.����'j"�S��2*W"������;�

(B) (A), (R) �!'����-���(�,"�"���������(��"���(R), (A)

��������� T��'9�.����'j"�S'��R'����;�

(C) (A) ���!'"����������� (R) ���!'"���

(D) (A), (R) �!'����-����-������!'"��.�����G

25. ���h �� (A) : B��C�:�����'�� �������' �����-��������g��������B��C�:�����'�� ������' M "�����':������ E%�� ���.��(�'�����

�! ��"��� (R) : B��C�:� ����'�� � ������' � M "� ����':����� E%�������B��������

������ :

(A) (A), (R) �!'����-����!'"����� (A) ���� R ���!'"���.����'j"

(B) (A), (R) �!'����-� ���!'"��������X�(R), (A) ����� ��(��6�.����'j"

(C) (A) ���!'"��������X�(R) ���!'"����������

(D) (A) ���!'"�������������X (R) ���!'"���

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II 12 A-05-02

26. Assertion (A) : Due to liberalisation

tele-density in India

increased from 18.2

percent to 76.8 percent

between March 2007

and December 2011.

Reason (R) : Tele-density varies

across circles and there

is significant urban rural

divide.

Codes :

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

the correct explanation for (A)

(B) Both (A) and (R) are true but (R) is not

the correct explanation for (A)

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

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

27. Assertion (A) : The mean of the

binomial distribution is

np.

Reason (R) : The theoretical

distributionxxn

xn pqC)x(p ⋅⋅= − is

called the binomial

distribution.

Codes :

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

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

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

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

26. ����������� (A) : E%��'�����/"����*7�����'Y�����'j"�� ������"���� ���@,"��o��������2007 *7�18.2 /�������������A�����M����4'�2011 ��@�"���76.8�/��������������M (V���

����������(R) : ..���������~ ���������@,"�o��������*7����o� ����������������� ���N�j"t� �>j"� ������ ��������� ��-��� @, "H� o���� ��� �*7����o� ���;�'��

������ :

(A) (A), (R) ���!'����-� ���!'"����� (R), (A) ����� ���!'"��.����'j"�S'��R'����;�

(B) (A), (R) ���!'����-����!'"��������X (R), (A) ��������!'"��.����'j"�S��2*W"����

(C) (A) ���!'"��������X (R) ��� �

(D) (A) ���� ����X (R) ���!'"���

27. ���h �� (A) : K,""��.���"�*+"�.E%l��������,"�����QA���������������� np

�! ��"��� (R) : ����g���� ��'�!��"���.E%l������xxn

xn pqC)x(p ⋅⋅= −

A�������K,""��.���"�*+".E%l������

������ :

(A) (A), (R) �!'����-��� �

(B) (A) �� � (R) ��� �

(C) (A) ��� � (R) �� �

(D) (A), (R) �!'����-���� �

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II 13 A-05-02

Note : Sequencing Types (28-35)

28. Arrange the following in the order of their

development.

I. Revealed Preference Theory

II. Indifference Curve Analysis

III. Marginal Utility Analysis

IV. Modern Utility Theory

Codes :

(A) II, III, I and IV

(B) III, II, I and IV

(C) I, III, II and IV

(D) III, II, IV and I

29. Arrange the following in the order of their

duration

I. Short period

II. Medium period

III. Market period

IV. Long period

Codes :

(A) I, II, III, IV

(B) II, III, IV, I

(C) III, I, II, IV

(D) IV, III, I, II

28. #$� �����%%�&'� ��(�i)#������ ��)*+��i)����� ��,���(28-35)

I. ������������� �����������g�������

II. B��#������������'5�./�"0�1j"

III. B�������� �,"-l���./�"0�1j"

IV. i�����6������ �,"-l�������g�������

������ :

(A) II, III, I ���(��"�� IV

(B) III, II, I ���(��"�� IV

(C) I, III, II ���(��"�� IV

(D) III, II, IV ���(��"�� I

29. �� �������������(�3�����������66������������*7�����'������

I. ��C C��� ����

II. ��-����.������� ����

III. ��-�!'Q@+"��� ����

IV. |��'}��� ����

������ :

(A) I, II, III, IV

(B) II, III, IV, I

(C) III, I, II, IV

(D) IV, III, I, II

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II 14 A-05-02

30. Arrange the following in chronologicalorder

I. Absolute Income Hypothesis

II. Life Cycle Hypothesis

III. Permanent Income Hypothesis

IV. Relative Income Hypothesis

Codes :

(A) I, IV, III, II

(B) II, III, IV, I

(C) III, II, I, IV

(D) IV, I, II, III

31. Arrange the following in correct order

I. Human Development Index

II. Gender Development Index

III. Physical Quality of Life Index

IV. Gender Empowerment Measures

Codes :

(A) IV, I, III, II

(B) I, II, IV, III

(C) II, III, I, IV

(D) III, I, II, IV

32. Arrange the following in chronologicalorder

I. Modified Value Added Tax

II. Central Value Added Tax

III. State Value Added Tax

IV. Manufacture Value Added Tax

Codes :

(A) I, II, III, IV (B) IV, I, II, III

(C) II, III, IV, I (D) III, IV, I, II

30. F� ������ �� ���� g��� ����A.� � � ������ ����� ��� ��������*7������"�����

I. 6��'O U���i����"��� (��� C��

II. m�����'������� (��� C��

III. /�/"2���i����"��� (��� C��

IV. o�O U���i����"��� (��� C�������� :

(A) I, IV, III, II (B) II, III, IV, I

(C) III, II, I, IV (D) IV, I, II, III

31. �F�����������66�A.�i.��'�.�3�������'���*7�O �PQ�������

I. ��-����{��8�g���-3���

II. H�����A{��8�g���-3���

III. E������m�������j"�����-3���

IV. H�����o�������'���'���' ������� :

(A) IV, I, III, II (B) I, II, IV, III

(C) II, III, I, IV (D) III, I, II, IV

32. ��������O �PQ6�����66��� ������-�������j"����O �PQ�������

I. ��-��'R�������. ����i���(���� ���;

II. ���������. ����i���(���� ���;

III. ���1��. ����i���(���� ���;

IV. ����"-Z������:�. ����i���(���� ���;������ :

(A) I, II, III, IV (B) IV, I, II, III

(C) II, III, IV, I (D) III, IV, I, II

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II 15 A-05-02

33. Arrange the following in chronologicalorder

I. Formation of WTO

II. Uruguay Round

III. Formation of GATT

IV. Formation of UNCTADCodes :

(A) I, II, IV, III

(B) II, I, III, IV

(C) III, IV, II, I

(D) IV, III, I, II

34. Arrange the following in descending orderof their weightage in Wholesale PriceIndex

I. Egg / meat / fish

II. Milk

III. Food grains

IV. SugarCodes :

(A) IV, I, II, III

(B) I, IV, III, II

(C) II, III, IV, I

(D) III, II, I, IV

35. Arrange the following concepts in whichthey are used in statistical analysis

I. Sampling

II. Data processing

III. Test of hypothesis

IV. Drawing inferencesCodes :

(A) I, III, II, IV (B) III, II, I, IV

(C) II, I, III, IV (D) IV, III, I, II

33. ��������O �PQ6�����66��� ������-�������j"����O �PQ�������

I. �� � �'����j�"l������I�h��C��

II. B��'����2�����-���/"����

III. ��@+"�h��C��

IV. A���>�4��(UNCTAD)�h��C�������� :

(A) I, II, IV, III (B) II, I, III, IV

(C) III, IV, II, I (D) IV, III, I, II

34. @7���������':������-3��� ����E%(�� �i�����'����A���&�$"j%��������*7��y������ ��'�'������

I. ���������) / ��-������� / '���

II. �� �

III. iD��'����������

IV. � �'�����'������ :

(A) IV, I, II, III (B) I, IV, III, II

(C) II, III, IV, I (D) III, II, I, IV

35. ���j%�����./�"0�1j"*76�B� �,"-��6;��@�">��������E%���� ����y������ ��'�'������

I. �� �'���"����

II. �����:�/"��� ������"�

III. � (��� C���� ZU��

IV. O$"�������g�6��'9��"- ���������>������� :

(A) I, III, II, IV (B) III, II, I, IV

(C) II, I, III, IV (D) IV, III, I, II

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II 16 A-05-02

Note : Match List-I with List-II and select the

correct answer from the codes given

below.

36. List I List II

a. Cardinal utility 1. Robinson

Theory

b. Ordinal Utility 2. Edward

Theory Chamberlin

c. Monopolistic 3. J. R. Hicks

Competition

d. Imperfect 4. Joan Robinson

Competition

5. Marshall

a b c d

(A) 3 4 5 2

(B) 5 3 4 2

(C) 5 3 2 4

(D) 1 3 2 5

37. Which of the following pairs is correctly

matched ?

(A) Perishable goods – Sugar

(B) Public goods – Refrigerator

(C) Private goods – Street lights

(D) Free good – Air

����� : �!'������ ?%q�� *7�..�����A�/� ��S��2���)�'����!������@�"�?%q��*76�A�/� �����!'��&�?%q��*76��6�&�l��� ��''������

36. j-k�� I j-k�� II

a. ��()��*+"��� �,"-l�������g������� 1. ��q��r�+�

b. i()��*+"��� �,"-l�� 2. =���2�4')�K%��(0�+�����g�������

c. h���o�2�����v@n"���-�!'Q@+" 3. ?,"<i�4'<��$"�4�r

d. A���� T��'9��v@n"���-�!'Q@+" 4. ?%�+����q�+����+�

5. ��-��'w*+"

a b c d

(A) 3 4 5 2

(B) 5 3 4 2

(C) 5 3 2 4

(D) 1 3 2 5

37. ���������@�"*76�l���A�/� *7������������l��� ��''����������66�����(:�'������

(A) ��/"2��'������:��G � – � �'�����'

(B) �� ?7� �,"-���������:��G � – (��p[��'��4'

(C) �M ������������:��G � – N���|�� �

(D) B3��������:��G � – ��H

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II 17 A-05-02

38. List I List II

a. Law of Markets 1. Fisher

b. Quantity Theory 2. R. F. Khan

of Money

c. Employment 3. J. M. Keynes

Multiplier

d. Investment 4. J. B. Say

Multiplier

Codes :

a b c d

(A) 4 1 3 2

(B) 1 3 2 4

(C) 4 1 2 3

(D) 3 1 4 2

39. Which one of the following pairs is

correctly matched ?

Concepts Economists

(A) Effective Demand – A. W. Philips

(B) Risk and – Milton Friedman

Uncertainty

(C) Laissez-faire – Keynes

(D) Demand Shift – Charles Schultz

Inflation

38. ���������66�l��� ��'�'������

j-k�� I j-k�� II

a. ��-�!'Q@+"���-������� 1. �p�1�4'

b. ��������������g������� 2. i�4'<=sp<�\%�+�

c. B�&V�������j"������� 3. ?,"<��"��+��<��n��+�r

d. M ��>���������j"������� 4. ?,"<q<�O�

������ :

a b c d

(A) 4 1 3 2

(B) 1 3 2 4

(C) 4 1 2 3

(D) 3 1 4 2

39. �������� S��2����� �� l���A�/� ���� ��� ��������l��� ��''����������66�����(:�'������

.-����/ & �� 0����f������l/

(A) o���'I���������-��4� – =<�����0�<��pHs r

(B) ���1>E�"��"�������A6�R����I� – .� >�+���#p�4�����+�

(C) i(I����O�2'�]�.��������� – �n��+�r

(D) �����-��4������*%�'���� G – '��!'0s���1�*+"u�����& �j"����

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II 18 A-05-02

40. List I List II

a. Shadow prices 1. Gunnar Myrdal

b. Rolling plan 2. De-Gule

c. X-efficiency 3. Leibenstein

d. Indicative 4. J. Tinbergenplanning

Codes :

a b c d

(A) 1 4 2 3

(B) 4 1 3 2

(C) 3 2 1 4

(D) 2 3 4 1

41. List I List IIName of the Name of the

Committee Chairman

a. The Taxation 1. L. K. JhaEnquiryCommission1953-54

b. Indirect Taxation 2. K. N. RajEnquiry Committee 1977

c. Committee on 3. John MathaiahTaxation ofAgricultural Wealthand Income

d. Direct Taxes 4. R. J. ChelliahEnquiry Committee

5. K. N. WanchooCodes :

a b c d

(A) 2 3 1 4

(B) 3 1 2 5

(C) 4 3 2 1

(D) 5 4 3 2

40. j-k��� I j-k��� II

a. ����"-�������' � 1. ������;�4'�.���')*+"

b. 6��'�����'��� j%x��� 2. ���S-����*,"

c. X-o������'I���� 3. *,""K,"�+�M��>�+�

d. ��-���� j%x��� 4. ?,"<�@�"�!����'~�+������� :

a b c d

(A) 1 4 2 3

(B) 4 1 3 2

(C) 3 2 1 4

(D) 2 3 4 1

41. j-k�� I j-k�� II

�� '�m�� �� �� n1� 22 ��o������ ��

a. � ���; �.'���'j%�����p�� 1. =*+"<�!�<�?%1953-54

b. � �&U���� ���; �.'���'j% 2. �!�<=�+�<��?+"���.�@n" 1977

c. ����o���"������ �������(��"�� 3. ?%�+����-����"�i����"- ����.�@n"

d. �� ��U���� ���; �.'���'j% 4. i�4'<?,"<�'!� 0��"����.�@n"

5. �!�<=�+�<������-

������� :

a b c d

(A) 2 3 1 4

(B) 3 1 2 5

(C) 4 3 2 1

(D) 5 4 3 2

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II 19 A-05-02

42. List I List II

a. Free trade area 1. No restriction on

trade and factor

movement

b. Customs union 2. Trade is free

and no customs

duties

c. Common market 3. No customs

duties, common

duty on

non-members

d. Economic union 4. Advanced

stage of

integration

Codes :

a b c d

(A) 2 1 3 4

(B) 3 2 4 1

(C) 2 3 1 4

(D) 1 3 4 2

42. j-k�� I j-k�� II

a. O�2'�]���j�"l����������� 1. ��j �"l�����B��C�:

����'�� ��������������M "

i�U�� ��*W"����������

b. �����>�+��r���"�-6��"��+� 2. O�2'�]� ��j �"l����

B����������>�+��r

������ ��B������G

c. B���k������-�!'Q@+" 3. �����>�+��r �

������ �������G��S����'

��E�"� �M "�h�n����8��

���-@n" ��B��������

d. i(I������"�-6��"��+� 4. h�n������'j"��� ������"�*7

A�����;���

������ :

a b c d

(A) 2 1 3 4

(B) 3 2 4 1

(C) 2 3 1 4

(D) 1 3 4 2

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II 20 A-05-02

43. The following table gives the Central

Government Expenditure on Social

Services during 2011-12.

List I List II

(Items) (% of total

social

services

expenditure)

a. Education, Sports, 1. 4.63

Youth Affairs

b. Health and Family 2. 2.15

Welfare

c. Water Supply and 3. 2.10

Housing

d. Information and 4. 0.20

Broadcasting

Codes :

a b c d

(A) 1 2 3 4

(B) 3 2 1 4

(C) 2 3 1 4

(D) 4 1 2 3

43. F��������� � @�">����o���p����� O��� � M "�E%��'��� �� E�"���2�

2011-12 �����*7�'����"������������"������S��2�������<

..���������"- ����������������l��� ��'�'������

j-k��� I j-k��� II

(&)��/) (�1���l)�p�)3q��

��4���)*+���%

������)

a. .�����i� �����"����l�� 1. 4.63

O��� �

b. i�&�����������(��"�� 2. 2.15

������������U���������

c. X@�"�����'�p������(��"�� 3. 2.10

���8�$"�6��kj"����

d. ����-'���'����(��"�� 4. 0.20

�� o��� �

������ :

a b c d

(A) 1 2 3 4

(B) 3 2 1 4

(C) 2 3 1 4

(D) 4 1 2 3

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II 21 A-05-02

44. List I List IIa. Averaging time 1. Mode

and rateb. Averaging rate 2. Median

of growthc. Middle item 3. Geometric

Meand. Most repeated 4. Harmonic Mean

item5. Arithmetic

MeanCodes :

a b c d

(A) 2 1 4 3

(B) 5 2 3 4

(C) 4 3 2 1

(D) 3 4 5 2

45. Assertion (A) : The variance of adistribution is alwayspositive.

Reason (R) : The variance is theaverage of the squareddeviations from themean.

Codes :

(A) (A) and (R) are true but (R) is not thecorrect explanation for (A)

(B) (A) and (R) are true but (R) is thecorrect explanation for (A)

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

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

46. Which State has the largest coastal areain India ?

(A) Andhra Pradesh (B) Tamil Nadu

(C) Kerala (D) Maharashtra

44. j-k��� I ����������������j-k��� IIa. �� ��������'�� �������� 1. K%�$"� �̂"�������b. M ��'������� ���'�� �������� 2. ����������������c. ��������A�/"���� 3. ����j"���������������d. =����Q���� G������8���!��"�� 4. �$"��'���������������

A�/"����5. A�������������������

������ :

a b c d

(A) 2 1 4 3

(B) 5 2 3 4

(C) 4 3 2 1

(D) 3 4 5 2

45. ������������ (A) : .E%l��������,"�����Q.'���'j"�����= 0� ����-��������k�������

O������� (R) : .'���'j"�����A����������������������������3R���.'� �� �����~ �������

������ :

(A) (A), (R) ���� ��� ��6 (A) ���� (R) ��(��6.����'j"

(B) (A), (R) ���� � (A) ���� (R) ��(�,"�"���.����'j"(C) (A) �� �����6 (R) ��� �(D) (A) ��� �����6 (R) �� �

46. ������������� *7�h���1���=����Q��� �����������L��'��������H~B��;�(A) i�������� ���/+"(B) ��.� �̂"������(C) �����' �̂"(D) ���D���1�

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II 22 A-05-02

Read the essay given below and answerquestions from 47 to 50 based on yourunderstanding of the passage :

Parallel to pauperization in the rural sector, airand water pollution from urban economicactivities is a cause of environmentaldegradation in developing economies. Theproblems of pollution due to such factors asemission of noxious gas and water fromfactories, and piles of waste from urbanhouseholds are universal, but often moreserious in developing countries. It is importantto recognize that environmental pollution fromthese sources tends to progress faster indeveloping than in developed economies.

Advanced economies have reached a stageat which the weight of economic activities shiftsfrom the industrial to the service sectors inresponse to economic growth, so thatconsumption of energy as the basic source ofpollution grows slower than growth in nationalincome. Moreover, people in the high-incomeeconomies have high preference forenvironmental amenity relative to presentconsumption. Therefore, they are more proneto accept environmental regulations andtaxation at the expense of their present income.

In contrast, in the early phase ofindustrialization, the share of industry indomestic income expands, resulting inincreases in energy consumption faster thangrowth in national product. This tendency isoften exacerbated by the policy bias to promoteheavy and chemical industries from the earlystage of development. Since anti-pollutionregulations are usually weak in developingeconomies, increased energy consumption inthe industrial sector tends to swell emission ofnoxious gas and water. Moreover, as manydeveloping economies entered the era ofmotorization before railway networks wereestablished, the density of automobiles hasbeen high relative to their income levels,resulting in extreme city transportation

congestion and serious air pollution.

5�#$� ���%��67�8������4�������,�#'����������9 47 ��)�8�50 �� ���� �$� /������:/�� ���4����*+�&)�� ��;����$!����:���%& �� 0���,�� ���r%�����(<������/�=���6��>A{� �8� g � ' !������� ��� �;� � ��/� *7� ���N�j"� � �'�� ����!�������������"����������� ������(��"���� �>j% *7��!� �P6�B��;����"��� ���(��"���X@�"� �� ��1����� ������;�����A�/� X;� ������'j"� � (��I��� *7� U n�j �"�'�������� ����'j"�������'����;.<�� ��1����������� ���������� (�/"��� ��������.������� �'����"�����.�1� T(��� ����"����G � �� ��� X@�"� �� ���� ������� *76������������ ��S �̂"0�������������'���O���p��������'I�� ����I ��=����Q���� ��1�����'j% ����A6;����/� *7����6C���:��;� C@�"�n��A{��8�g'!�����������;����/� *7�F�A�/� ��=����Q����� ���6;����HV�3� ������'j"�A������H������� ����'j"���� '!� � C��'��R���<�FO �PQ����������� ���6��������'j"E�"-���!��"���A�/� ��� E%���A{��8�g�'!���������/� *7������;�A{��8�g�'!�����������;����/� *7=����Q������� E%��6;�'�-� G�����;��"�6�O �PQ����'��R���<A{��8�g�'!�����������;����/� *7���(�/�.��n������'j"��� ������"��� T(:�������A.�O�����'�������!�"� G����8���Cz�6;���-��'�R�P������� ���A�����S�������� ���������� �� ��� ���H���� �� ��1� ��'��� ?%L��"-����"���8� g��'��� � ��� �;� ��� ���Q����� � �� !�-����� ������������;�<A����������A{��8�g�'!���������/"�*7��� l ���� ���:���.6�,"-���������;�� ������'j"�A�/� �����=����Q�������������6���:��;�'��<�i����'j"����A.�� ������'j"�� (��'U��j"�������������3���6��"�����6�������� ����A�����(��-:���(�����':��-���i����"��*7�=����Q��E%��6;�� ���; ��'!�H0�'����������������g�����������:� ��'����:��;��'�<M "� �� �!�H� ��� ��6���� {� �;����A{� �8� g � �PH� ���/ " *7��(�/�.��n������'j"��P��'�����=����Q���S�������6;�.6�,"-V�'����� ���?%L��"-����"����8�g��'�������;��� ��1���8�g��'���=����Q��B������� ������6�� ��'��R���<� �PH���(�/�.����� ���/" *7� E%Z���(��"�����'o���"����� (�/"��� ��=����Q���h��C���'������&�� ��B�����<� '�*%�A{��8� g� '!�����������;� ���/� *7� �� ��16��"�����j"�'���' ����6�A��� ��L��'��'�*%�� #$"��������B����������������6�'���'��R���<�A{��8�g�'!�����������;����/� *7��8� g� '!�����������;� � (�/"��� � ��������=����Q���.�1� T(������"����G ����� ��1X��'��=����Q����� ���6;���� ����'�����:��;�'��<A�����������'�*%�A{��8�g�'!�����������;����/� *7�M ��'����������;��"-��L�����'j"��=����Q������$"�� �.6�,"-���������..�������'�� �!�-@%��'�����$"�� ���S����'�o������� ����5�M ��'�������� ���'��j%������I����A��:����:���.�'��@W"�������A������!��"�������"����� ���6�����(L���:��;�'��<

Page 23: Paper : II Subject : 24 50 Papers/SET … ·  · 2013-03-09Test Paper : II Test Subject : ECONOMICS Test Subject Code : A-05-02 Test Booklet Serial No. : _____ OMR Sheet No. : _____

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II 23 A-05-02

47. Which of the following is not a factor of

urban pollution ?

(A) Noxious gases (B) Waste water

(C) Deforestation (D) Solid waste

48. Which one of the following is not a reason

for reduction of pollution in developed

countries ?

(A) Shifting to small and medium

industries

(B) Shifting to service sector

(C) Strict environmental regulations and

taxation

(D) High preference for environmental

quality

49. Developing countries are suffering from

high level of pollution due to

(A) Lack of strict implementation of

environmental regulations

(B) Increased energy consumption by

industries

(C) More automobiles

(D) All the above

50. People in developed economies prefer

(A) More Present Consumption

(B) More Present Income

(C) Better Environmental Quality

(D) Less Taxation

47. ����������6*7�h��� �>j"��� ���6;����HV�'�6�����'�������

(A) .�1� T(�������"����G �

(B) ��8�����������X��'�

(C) A�����G �6��'-k ��

(D) �p��������'I�� ����I �

48. A{��8� g� '!������ ���/� *7� �� ���6;� ��V ~�'�����������'j"�������6�����������@�"*7�h���

(A) 3��;����(��"���������������'D�� (�/"��� ������-��'��

(B) O������'���6������-��'��

(C) �������!��"��� � ������'j"�6��"�����j" �� ���(��"��� ���; �

(D) � ������'j"���j"�������A����������������

49. A{��8�g�'!�����������;����/� ��A������o�I�'����� ���6;���HV��"�����������������'j"����

(A) � ������'j"�6��"�����j"�.����� ����53R��������A��� ��'����"�*W"����v��G�

(B) � (�/"��� '���=����Q���S��������.6�,"-�������

(C) �!�-@%��'�����$"�� ��M ��'������

(D) M "���O �PQ��;���X;

50. A{��8�g�'!���������/� *76��� l �����������6*7����6��������������So�:��'�

(A) =����Q�������':��-���.6�,"-��6���

(B) =����Q����� ���:���i����"-6���

(C) A������� ������'j"� ��'�!��"�����j"��

(D) ������Q���� ���; �

Page 24: Paper : II Subject : 24 50 Papers/SET … ·  · 2013-03-09Test Paper : II Test Subject : ECONOMICS Test Subject Code : A-05-02 Test Booklet Serial No. : _____ OMR Sheet No. : _____

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II 24 A-05-02

Space for Rough Work