1. Full demographic dividend will be realised when government promotes

more social security

more intensive growth

more skill development

more capital market

2. Which one of the following is true for the General Fertility Rate

It is an actual measure of fertility.

It is a potential measure of fertility.

It is an actual measure of female population composition.

It is based on hypothetical age specific birth rate profile.

3. Which among the following curves is used to depict the long run behaviour of population growth

Normal Curve

Logistic Curve

Exponential Curve

Ogive

4. Among the socio-economic factors responsible for high birth rate in India, we may include
Large scale poverty
High mortality rate of children of poor parents
Prevalence of under-age marriage
Adverse sex-ratio

and

and

and

and

5. Match List I with List II and give the correct answer from the codes given below

List I List II (Event) (Date)

A. World Environment Day 11th July
B. World Wildlife Day 5th June
C. World Water Day 3rd March
D. World Population Day 22nd March Select the correct answer from the codes given below

Codes A B C D









6. The coase theorem suggests that private negotiation will lead to the correction of market failure when

Only a few people are involved.
Property rights are clearly recognised.
Negotiation costs are low.
People are having asymmetric information. Select the correct answer from the codes given below Codes

and must hold true.

and must hold true.

and must hold true.

and must hold true.

7. Infrastructure cess is a levy/tax on

Builders

Railways

Motor vehicles

Public Transport

8. SLR can be defined as

SLR ER I CB/L

SLR LLER IS CAB/L

SLR ER IS CAB/L

SLR L+CB+ER/IS

Where ER Excess Reserve; IS Investment in Government and other approved Securities, CAB Current Account Balances, L Total demand Time deposits. CB Current Balances, I Investment, SLR Statutory Liquidity Ratio

9. Which among the following measures would result in an increase in the money supply in the economy
I. Purchase of Government Securities from the Public by the Central Bank.
II. Deposit of currency in Commercial Banks by the Public.
III. Borrowings by the Government from the Central Bank. IV. Sale of Government securities to the public by the Central Government. Select the correct answer from the codes below

Codes

I only

II and IV

I and III

II, III and IV

10. The banks which are implementing the Micro Finance Programme linked with Self Help Groups (SHGs) are

Commercial Banks and Co-operative Banks, only.

Regional Rural Banks and Commercial Banks, only.

Co-operative Banks and Regional Rural Banks, only.

Commercial Banks, Regional Rural Banks and Co-operative Banks.

11. Which of the following is generally called as Aggregate monetary measure of money supply

M4

M1

M2

M3

12. The traders reduce the risk of loss in currency fluctuations through which of the following

Speculations

Arbitrage

Hedging

None of the above

13. Among the reasons responsible for the high inflation rate in India in 2015, which of the following is/are true

Rise in prices of petroleum products.
rise in food prices.
Rise in domestic consumption demand.
Rise in Indian Exports during the year 2015-16 Select the correct answer from the codes given below Codes

and

and

and

and

14. Originally, the maximum and minimum limits of the Statutory Liquidity ratio prescribed in India was

40 percent and 20 percent

40 percent and 25 percent

30 percent and 25 percent

30 percent and 20 percent

15. Which among the following are the recommendations of the Urjit Patel Committee report of on monetary policy

I. Curtailment of the fiscal deficit.
II. Inflation anchor at four percent.
III. Providing adequate liquidity in the money and capital market.
IV. Pegging the exchange value of Indian Currency. Select the answer from the code below

Codes

II and III

II and IV

III and IV

II and IV

16. Assertion Monetarists disagreed with the Phillips curve analysis.

Reason There are no unique correspondence of inflation rate with unemployment rate. Answer from the codes below Codes

Both and are true and is the correct explanation of

Both and are true and is not the correct explanation of

is true and is false.

is false and is true.

17. Who among the following economists considered the rate of interest to influence the transaction demand for money

P. Samuelson

W. J. Baumol

Keynes

I. Fisher

18. Consider the following statements about rising NPAs of banks in India

I. Rising NPAs are due to slow down in the world economy.
II. Private Sector banks have lower NPAs in comparison Public Sector Banks.
III. Rising NPAs are due to droughts in India. Which of the statements given above is/are correct

Codes

Only I

I and III

I and II

II and III

19. Among other things, which one of the following was the purpose for which Deepak Pareksh Committee was constituted

To study the socio-economic conditions of minority communities.

To suggest the measures for financing the development of infrastructure.

To frame the policies on genetically modified seeds.

To suggest measures to reduce the fiscal deficit in the Union Budget.

20. Consider the following statements.

I. Sick Company is defined as one whose accumulated losses in any financial year are equal to or more than 50% of its average net worth during previous four financial years.
II. The Government set-up Board of Industrial and Financial Reconstruction in 1987. Which of the statement given above is/are correct Select the answer from the codes given below Codes

Only I

Only II

Both I and II

Neither I nor II

21. Consider the following taxes

Corporation tax
Income tax
Service tax
Union Excise Duties Which of the following correctly describes their contribution, in descending order of importance, to the Central Government's Gross Tax Revenue









22. Which Finance Commission has used forest cover as a criterion for horizontal distribution of resources in India

10th Finance Commission

12th Finance Commission

13th Finance Commission

14th Finance Commission

23. Consider the following Assertion According to Peacock-Wiseman hypothesis, public expenditure increases overtime in a step by step manner. Reason This hypothesis is based on the displacement effect, concentration effect and inspection effect. Select the correct answer from the codes given below
Codes

is true, but is false.

is false, but is true.

Both and are true, but is not the correct explanation of

Both and are true and is the correct explanation of

24. In the Indian context, the studies of poverty were made by

Dandekar and Rath
P.K. Bardhan
B.S. Minhas
I.J. Ahluwalia Select the correct answer from the codes given below
Codes

and

and

and

and

25. Who among of the following is associated with the theory of optimal taxation

H. Dalton

R.A. Musgrave

U.K. Hicks

G. Mankiw

26. To reach an economically efficient output level, the size of an excise tax imposed on a firm generating negative externality should be

the firm's marginal cost

the social marginal cost

the difference between the social marginal cost and the firm's marginal cost

the sum of the social marginal cost and the firm's marginal cost.

27. Which among the following is the reason for Convergence exhibited by the Solow growth model

Static capital-labour ratio.

Declining marginal productivity of capital.

Neutral technical progress.

Constant rate of growth of population

28. Who among the following economists was not concerned with the problem of surplus labour

W.A. Lewis

Gustav Renis and Fei

R. Nurkse

J.S. Mill

29. Match the following lists

List I List II
A. Aggregate demand a by
B. Consumption function C I
C. Aggregate supply a by
D. Saving functon C S

Select the correct answer from the codes given below
Codes A B C D









30. Who is the author of the book, 'Capital in the Twenty First Century'

Thomas Piketty

Joseph Stiglitz

A.K. Sen

Jagdish Bhagwati

31. Match List I and II.

List I(Economic Idea) List II (Economist)

A. Life Cycle Hypothesis Karl Marx
B. Tableau Economique Alfred Marshall

C. Cash Balance Approach Francois Quesnay
D. Organic Composition of F. Modigliani Capital

Select the correct answer from the codes given below
Codes A B C D









32. In the adjoining standard diagram to explain Hicks' trade cycle theory; which of the following are true, when the actual value of mpc and accelerator fall in the region C

<img src='./qimages/2110-32.jpg'><br><br>

There will be oscillations (Cyclical fluctuations)

There will be explosive upward movement

There will be Steady growth

Both and are possible.

33. For the Harrod's model of growth, which among the following production functions best matches with the assumptions of the model

Leontief production function

Homogeneous production function

C.E.S. production function

Well-behaved production function

34. In the following Cobb-Douglas production function

Q ALa Kß, if a ß then the share of labour would be ß

<img src='./qimages/2110-34.jpg'><br><br>

35. New Keynesian economics challenges which among the following schools of thought regarding the full adaptability of a policy change on the part of economic agents

New classical economics

Neo Keynesians

Monetarists

Both and above

36. Who among the following developed the 'Wage-goods model' of planning

A.K. Sen

P.C. Mahalanobis

R. Nurkse

C.N. Vakil and P.R. Brahmanand

37. A key property of A.K. model is

absence of diminishing returns with respect to capital.

a sustained dose of autonomous investment.

a command economic system.

a high probability of the poorer economies to catch up with the developed economies.

38. In Pasinetti's model of growth the interplay among which variables is crucial

Profit rate, Economic growth, Savings.

Profit rate, Distribution of income and economic growth.

Profit rate, autonomous investment and economic growth.

Savings, Investment and technology.

39. Consider the following statements in relation to Karl Marx's theory of profit rate
I. Profit rate depends directly on the value of organic composition of capital.
II. Profit rate depends directly on the value of rate of exploitation. Which of the above statements are correct Answer from the codes below
Codes

Both I and II are true.

Neither I nor II are true.

Only I is correct.

Only II is correct.

40. Which among the following is not correctly matched Economist Theme

Adam Smith Extent of Market

J.B. Say Balance in Supply and Demand

T.R. Malthus State of over production

D. Ricardo Modernization of Agriculture

41. Which of the following statements are true for the Triangle model

I. It is a model developed by New Keynesian economists.
II. It includes built-in inflation in the analysis. Which of the above statement(s) is/are true Answer from the codes below


Codes

I and II

None

Only I

Only II

42. With reference to Asian Development Bank, consider the following statements

I. United States has the largest proportion of shares in the voting system.
II. China and India have the same percentage of shares for the voting system. Which of the statement(s) given above is/are correct
Codes

Only I

Only II

Both I and II

Neither I nor II

43. Which among the following will constitute Foreign Direct Investment

Buying a company in the target country.

Expanding operations of an existing business in that country.

Investing in the shares and stocks of companies in the capital market.

Both and

44. Which of the areas given below is/are mainly funded by the International Development Agency in the developing countries

I. Infrastructure
II. Education I
III. Environment friendly projects
IV. Health care Select the correct answer using the codes given below
Codes

II and IV

II and III

III and IV

All of the above.

45. When two or more countries enter into an agreement to eliminate import quota and tariffs and promote trade among themselves, such a group of countries are said to form a

Free Trade Area

Custom Union

A Common Market

Both and

46. Which among the following is/are true for Real Effective Exchange Rate of the currency of a country

It is weighted average of the value of traded currencies.

It is adjusted for inflation rate of prices.

It is not adjusted for inflation of prices.

Both and are true.

47. During the episode of sustained fall in crude oil prices during the year 2015, which among the following best describes the pricing strategy of the OPEC countries

Transfer pricing

Predatory pricing

Defensive pricing

Profit maximising prices

48. Which of the following statement(s) is/are true for the gravity model to explain trade

I. It is used in the bilateral context.
II. It was developed by Jan Tinbergen in 1962.
II. It takes into account the distance among the trading nations. Select the correct answer from the code below
Codes

II and III are true.

Only I and III are true.

Only II is true.

All the three above are true.

49. If the offer curves of the trading countries have constant slope, the terms of trade among them will be

constant

decreasing

increasing

indeterminate

50. In the context of the Indian economy, which of the following options correctly describe the composition of the foreign exchange resources

Foreign currency loans from the World Bank SDRs Gold holdings of R.B.I

Foreign Currency Assets Gold holdings of R.B.I. F.D.I

SDRs Gold holdings of the R.B.I+ Foreign Currency Assets.

Remittances of NRIs Exports earnings in a year loans from the IMF.


51. Which among the following are true for excess demand function for an individual

Homogenous of degree zero in all prices.

These obey Walra's law.

Both and are true.

Neither nor are true.

52. Which of the following measures the degree of monopoly power Here symbols have their usual meaning. AR MR AR

<img src='./qimages/2110-52.jpg'><br><br>


53. A firm will be of optimum size when

Marginal cost is at a minimum.

Average cost is at a minimum.

Marginal cost is equal to marginal revenue.

The firm maximises its output.

54. The time preference theory of interest was developed by

Wicksell

Böhm-Bawerk

Irving Fisher

J.M. Keynes

55. Which of the following statements is/are true for Arrow-Debreu model of general equilibrium

Goods are identified where they are to be delivered.

Goods are identified when they are to be delivered.

Both and

None of these

56. If Sales tax on a commodity is raised, but the revenue earned through its sale decreases sharply, which one of the following statements about the nature of this commodity would be correct
Price elasticity of demand for it is unity.

It must be an essential goods.

Price elasticity of demand for it is high.

Price elasticity of demand for it is low.

57. The below diagrams show the risk aversion of two individuals with the help of indifference curves. Choose the correct answer from the following by studying the diagrams.

<img src='./qimages/2110-57.jpg'><br><br>
A is highly risk averse.

B is highly risk averse.

and risk aversion is identical.

Degree of risk aversion is indeterminate.

58. One of the essential conditions of monopolistic competition is

Homogeneous product

Product differentiation

Price discrimination

Many buyers but one seller

59. Logical extension of Cournot model is

Bertrand model

Stackelberg model

Sweezy model

None of the above

60. Minimum support prices for Agricultural Commodities are fixed after taking into account the recommendations of which of the following bodies

Ministry of Agriculture

Ministry of Food Processing

NITI AAYOG

Commission for Agricultural Costs Prices (CACP)

61. Diversification of agriculture implies

Increase in the cropping intensity.

Shifting labour from agriculture to other areas.

Promoting cottage and village industries.

Changing the cropping pattern in favour of horticulture and floriculture crops.

62. Which one of the following schemes is not included in the Rashtriya Krishi Vikas Yojna (RKVY)

National Mission for Protein Supplements

Saffron Mission

Accelerated Fodder Development Programme

All of the above

63.
Assertion Agricultural Productivity is very low in India.

Reason Rate of growth of population is high in India. Select the correct answer from the codes given below
Codes

Both and are true and is the correct explanation of

Both and are true, but is not correct explanation of

is true, but is false.

is false, but is true.

64. The Agricultural Census is done at which one of the following intervals

Every year

Once in 3 years

Once in 5 years

Once in 10 years

65. The share of food expenditure in total expenditure for Urban consumer and Rural consumer in India was 56% and 64% respectively in (1987-88) and which changed to 41% and 54% in (2009-10). This is appropriately explained by which of the following

Decline in food production.

Decline in purchasing power of consumers.

Operation of Engel's Law. .

Operation of law of diminishing marginal utility.

66. For demand function
P 15 2X X2, what is consumer's surplus at X 2

6

28/3

7/4

11/3

67. Given the CES production function as

<img src='./qimages/2110-67.jpg'><br><br>

the elasticity of substitution between factors is

1

P

1/P




68. For the diagram below, which of the following is a correct description in terms of derivatives

<img src='./qimages/2110-68.jpg'><br><br>


69. Which of the following is true for an optimum solution of a linear programming problem

Number of non-zero valued slack variables is equal to the number of constraints.

Number of non-zero valued variables (including slack) is exactly equal to the number of constraints.

Number of non-zero valued slack variables is equal to the number of binding constraints.

Number of non-zero valued variables is equal to the number of non-binding constraints.

70. If the targets for an economy are fixed in terms of final demand vector then the compatible levels of output vector in terms of input-output analysis will be determined according to which of the following

A F X

AX F X

F X

F X

71. In a two-variable regression, Y is dependent variable and X is independent variable. The correlation coefficient between Y and X is 0.8. For this, which of the following is correct

variations in Y are explained by X.

64% variations in Y are explained by X.

0.8% variations in Y are explained by X.

None of the above.

72. If OLS is applied separately to each equation that is part of a simultaneous equation system, the resulting estimates will be

Unbiased and consistent

Biased and consistent

Biased and inconsistent

Unbiased and inconsistent

73. Generalized Least Squares Method is suitable for estimation of parameters in a General Linear Model for dealing with problem of

Measurement Errors
Autocorrelated Disturbances
Multi collinearity
Heteroscelasticity Select the correct answer from codes given below
Codes









74. Match the following and select the correct answer from codes given below

List I List II

a. Goldfield-Quandt Test Errors in variables
b. Durbin-Watson Test Heteroscelasticity
c. Farrar-Glauber Test Autocorrelation
d. Wald-Bartlett Method Multicollinearity
Codes a b c d









75. Consider the following system of equations, using standard notations
Y1 a0 a1Y2 a3Y3 a4X1 a5X2 u1
Y2 ß0 ß1Y3 ß2Y1 ß3X2 u2
Y3 .0 .1X1 .2X2 .3X3 u3
According to order condition, the second equation is

Unidentified

Just identified

Over-identified

Not possible to infer identification due to incomplete information.