ExamBharo · UP PGT 2021 — Economics (Series A) · exambharo.com/up-pgt/previous-year-papers/up-pgt-2021-economics-series-a/

Question paper · UP PGT

UP PGT 2021 — Economics (Series A)

17 or 18 August 2021125 questions+3.4 for a correct answer, −0 for a wrong one

Download PDFStart practice test

Questions from the U.P. Secondary Education Services Selection Board’s paper of 17 or 18 August 2021. Each question’s answer is under it, hidden until you open it, and the full answer key is at the end. Take the paper as a timed practice test to be scored.

The official booklet is a scan with no text, so ExamBharo typed this paper from it by hand. A typing slip is possible; report one through the contact page.

Economics

1. Who among the following economist proposed the idea that changes in bank rate impact on the economy through short terms rates of interest and working capital ?
- (a) Keynes
- (b) De Kock
- (c) Hawtrey
- (d) None of these
Show answer
Answer: (c)
2. Imposition of tariff leads to
- (a) Decrease in prices of exports
- (b) Decrease in prices of imports
- (c) Increase in prices of exports
- (d) Increase in prices of imports
Show answer
Answer: (c)
3. Open market operations refers to
- (a) Borrowing by scheduled banks from the RBI
- (b) Lending by scheduled banks to industry and trade
- (c) Purchase and sale of government securities by the RBI
- (d) Deposit mobilisation
Show answer
Answer: (c)
4. Using the following data, find the standard deviation. X̄ = 6, ΣX = 60, ΣX² = 1000
- (a) 4
- (b) 6
- (c) 8
- (d) 10
Show answer
Answer: (c)
5. Which of the following is not the tool of fiscal policy ?
- (a) Budgetary policy
- (b) Pump-priming spending
- (c) Taxation policy
- (d) Bank rate policy
Show answer
Answer: (d)
6. Which of these is not an objective of monetary policy ?
- (a) Neutrality of money
- (b) Price stability
- (c) Exchange rate stability
- (d) Resource mobilisation
Show answer
Answer: (d)
7. What is the value of MPC when MPS is zero ?
- (a) 1 (One)
- (b) 0 (Zero)
- (c) ∞ (Infinite)
- (d) None of these
Show answer
Answer: (a)
8. Opportunity cost version of comparative cost theory was introduced by
- (a) Heckscher-Ohlin
- (b) J. S. Mill
- (c) Marshall
- (d) Haberler
Show answer
Answer: (d)
9. In India the highest share in power generation is from
- (a) Hydel power
- (b) Thermal power
- (c) Solar power
- (d) Atomic power
Show answer
Answer: (b)
10. If borrowings and other liabilities are added to the budgetary deficit, we get
- (a) Primary deficit
- (b) Fiscal deficit
- (c) Capital deficit
- (d) Revenue deficit
Show answer
Answer: (b)
11. Price discrimination is possible only when
- (a) Seller is alone
- (b) Goods are homogenous
- (c) Market is controlled by the Government
- (d) None of these
Show answer
Answer: (a)
12. Phillips curve sets up a relationship between
- (a) Wages and labour supply
- (b) Inflation and unemployment
- (c) Price and demand
- (d) Aggregate supply and aggregate demand
Show answer
Answer: (b)
13. Capital Adequacy Ratio (CAR) or Capital to Risk weighted Assets Ratio (CRAR) is
- (a) (Capital Fund ÷ Risk weighted Assets) × 100
- (b) (Risk weighted Assets ÷ Capital Fund) × 100
- (c) (Risk weighted Capital Fund ÷ Risk weighted Assets) × 100
- (d) None of the above
Show answer
Answer: (a)
14. If the consumption function of the consumer is U = X₁X₂ and budget constraint is M = P₁X₁ + P₂X₂ then at the equilibrium level, the demand function for X₁ will be
- (a) M/(2P₁)
- (b) −M/(2P₁²)
- (c) M/(2P₁²)
- (d) −M/(2P₁)
Show answer
Answer: (a)
15. One of the instrument of quantitative credit control is
- (a) Moral pressure
- (b) Regulation of consumer's credit
- (c) Publicity
- (d) Bank-rate
Show answer
Answer: (d)
16. In the formula R = 1 − 6ΣD² / N(N² − 1), ‘D’ stands for
- (a) Deviation
- (b) Difference of two ranks
- (c) Coefficient of correlation
- (d) None of these
Show answer
Answer: (b)
17. Which is the regulatory body of telecom in India ?
- (a) TRAI
- (b) SEBI
- (c) HTML
- (d) BSNL
Show answer
Answer: (a)
18. The last Five Year Plan of India was
- (a) 12th
- (b) 13th
- (c) 14th
- (d) None of the above
Show answer
Answer: (a)
19. Public expenditure is used as a compensatory expenditure in
- (a) Period of Prosperity
- (b) Period of depression
- (c) Both periods
- (d) Normal period
Show answer
Answer: (b)
20. Which of the following theory of wages was propounded by Prof. Walker ?
- (a) Subsistence theory
- (b) Standard of living theory
- (c) Wage fund theory
- (d) Residual claimant theory
Show answer
Answer: (d)
21. According to Heckscher-Ohlin the cause of trade between countries is
- (a) Demand conditions
- (b) Factor abundance
- (c) Technique
- (d) Test pattern
Show answer
Answer: (b)
22. Who is responsible for inductive method of studying economics ?
- (a) Austrian School
- (b) German Historical School
- (c) Classical School
- (d) Russian School
Show answer
Answer: (b)
23. What is true for Giffen good ?
- (a) Strong substitution effect
- (b) Strong positive income effect
- (c) Strong negative income effect
- (d) None of these
Show answer
Answer: (b)
24. By definition the marginal propensity to consume is
- (a) equals ΔC/ΔYd
- (b) equals ΔC/ΔS
- (c) equals C/Yd
- (d) equals S/Yd
Show answer
Answer: (a)
25. The cross price elasticity of demand is equal to
- (a) (ΔQ/ΔP) · (P/Q)
- (b) (ΔQ₁/ΔP₂) · (P₂/Q₁)
- (c) (ΔQ₁/Q₂) · (P₂/ΔP₁)
- (d) ((Q₁ + Q₂)/(P₁ + P₂)) · (P₁/P₂)
Show answer
Answer: (b)
26. Which theory is examined by Leontief Paradox ?
- (a) Opportunity costs theory
- (b) Comparative costs theory
- (c) Heckscher-Ohlin theory
- (d) None of these
Show answer
Answer: (c)
27. The ‘law of demand’ says
- (a) Demand increases with increase in price
- (b) Demand decreases with increase in price
- (c) Price increases with increase in demand
- (d) Demand increases with increase in supply
Show answer
Answer: (b)
28. Which of the following is not a measure of central tendency ?
- (a) The range
- (b) The mode
- (c) The median
- (d) The mean
Show answer
Answer: (a)
29. The founder of KCC among the following Prime Ministers in India
- (a) Sri Narsimha Rao
- (b) Sri Indra Kumar Gujral
- (c) Sri Atal Bihari Vajpayee
- (d) Sri Manmohan Singh
Show answer
Answer: (c)
30. The degree of monopoly power can be measured by the formula
- (a) (P − MC)/P
- (b) AR/(AR − MR)
- (c) MR/(AR − MR)
- (d) (AR − MR)/AR
Show answer
Answer: (a)
31. When marginal production increases then total production
- (a) Increases by increasing rate
- (b) Is neutral
- (c) Decreases by increasing rate
- (d) None of these
Show answer
Answer: (a)
32. In which commodities principle of exclusion enforced ?
- (a) Private goods
- (b) Public goods
- (c) Merit goods
- (d) None of these
Show answer
Answer: (a)
33. According to Dalton, which forms of taxable capacity is useful ?
- (a) Absolute taxable capacity
- (b) Relative taxable capacity
- (c) Both (A) and (B)
- (d) None of these
Show answer
Answer: (b)
34. Apex institution of finance for agriculture sector in India is
- (a) SBI
- (b) NABARD
- (c) IDBI
- (d) SIDBI
Show answer
Answer: (b)
35. For complementary goods, the cross elasticity of demand will be
- (a) Zero
- (b) Infinity
- (c) Positive but less than infinity
- (d) Negative
Show answer
Answer: (d)
36. Transfer payments by the government are not included in the Net Domestic Product (NDP) because
- (a) These are gifts from the government to the recipients
- (b) They are direct income to the recipients
- (c) No corresponding production of goods and services has taken place to match such payment
- (d) There may be leakages in such payments
Show answer
Answer: (c)
37. Equilibrium is a condition, where
- (a) A consumer gets maximum satisfaction
- (b) A producer gets maximum profit
- (c) A firm gets maximum output
- (d) All of the above
Show answer
Answer: (d)
38. In ‘dual gap’ model, the two gaps refers to
- (a) Inflationary gap and Investment gap
- (b) Savings gap and deflationary gap
- (c) Savings constraint and foreign exchange constraint
- (d) Investment gap and savings gap
Show answer
Answer: (c)
39. V.K.R.V. Rao is associated with
- (a) Finance Commission
- (b) The Five Year Plan
- (c) National Income
- (d) All are the correct
Show answer
Answer: (c)
40. As a result of increase in public expenditure
- (a) Phillips curve shifts to the right
- (b) Phillips curve shifts to the left
- (c) Movement of Phillips curve is such that unemployment increases and inflation is reduced
- (d) Movement of Phillips curve is such that unemployment reduces and inflation is increased
Show answer
Answer: (d)
41. The law of variable proportions comes into being when
- (a) There are only two variable factors
- (b) There is a fixed factor and a variable factor
- (c) All factors are variable
- (d) Variable factors yield less
Show answer
Answer: (b)
42. Which of the following factor is not appropriate regarding export promotion ?
- (a) To increase share of export in world market
- (b) To financing of imports
- (c) To increase supply of goods in home market
- (d) To pay off external loan
Show answer
Answer: (c)
43. Find out the correct chronological order of the following. 1. Consumption function of Keynes 2. Life cycle hypothesis 3. Relative Income hypothesis 4. Friedman’s permanent income hypothesis Codes :
- (a) 4, 2, 1, 3
- (b) 2, 1, 3, 4
- (c) 1, 3, 4, 2
- (d) 3, 4, 2, 1
Show answer
Answer: (c)
44. “Trade-cycle is a purely monetary phenomenon”. This statement belongs to
- (a) A. C. Pigou
- (b) R. G. Hawtrey
- (c) J. Schumpeter
- (d) J. M. Keynes
Show answer
Answer: (b)
45. Internal economies arise when
- (a) Firm applies division of labour
- (b) Producer produces less
- (c) Roads are provided by government
- (d) Firm produces a single product
Show answer
Answer: (a)
46. The main objective of land reform was
- (a) To improve the fertility of land
- (b) Redistribution of land
- (c) Acquisition of land
- (d) Irrigation of land
Show answer
Answer: (b)
47. Which of the following equation does indicate the correct relationship among mean, median and mode ?
- (a) M = 3X̄ − 2Z
- (b) X̄ = 2Z − 3M
- (c) Z = 3M − 2X̄
- (d) None of these
Show answer
Answer: (c)
48. For Speculative motive, demand of money depends on
- (a) Level of income
- (b) Rate of interest
- (c) Availability of money
- (d) Standard of living
Show answer
Answer: (b)
49. Who is benefited during money inflation ?
- (a) Pensioner
- (b) Borrower
- (c) Lender
- (d) Saver
Show answer
Answer: (b)
50. Frictional unemployment exists
- (a) When there is a decrease in real GDP
- (b) Because it takes time to find a job when one is first entering the labour force
- (c) As a result of technological change
- (d) When an individual retires
Show answer
Answer: (b)
51. The ‘BASEL’ accords is related to
- (a) Insurance Sector
- (b) Banking Sector
- (c) Services Sector
- (d) Commodity Market
Show answer
Answer: (b)
52. In the Liquidity Preference theory, the situation of liquidity trap shows,
- (a) Demand for money curve is perfectly elastic
- (b) Demand for money curve is perfectly inelastic
- (c) Supply of money curve is perfectly elastic
- (d) Demand for money = Supply of money
Show answer
Answer: (a)
53. Which of the following book by Keynes interpret the concept of Inflationary Gap ?
- (a) General Theory
- (b) How to Pay for the War
- (c) The Battle of Bretton Woods
- (d) None of these
Show answer
Answer: (b)
54. Tax-shifting may be
- (a) Forward
- (b) Backward
- (c) Both side
- (d) None of these
Show answer
Answer: (c)
55. In which market firm’s Marginal Revenue (MR) is equal to price ?
- (a) Monopoly
- (b) Oligopoly
- (c) Monopolistic competition
- (d) Perfect competition
Show answer
Answer: (d)
56. According to opportunity cost theory of Haberler, full specialisation occurs, when
- (a) The production possibility curve satisfies increasing opportunity cost
- (b) There are diminishing returns to the factor of production
- (c) The production possibility curve satisfies constant opportunity cost
- (d) None of these
Show answer
Answer: (c)
57. Finance Commission is constituted by
- (a) Ministry of Finance
- (b) Prime Minister
- (c) President
- (d) Accountant General
Show answer
Answer: (c)
58. Aggregate Demand (AD) curve starts from
- (a) The origin
- (b) Point below the origin
- (c) Point above the origin
- (d) None of these
Show answer
Answer: (c)
59. The condition which shows consumers equilibrium in utility analysis
- (a) (MUₓ/Pₓ) × (MUᵧ/Pᵧ)
- (b) (MUₓ/Pₓ) ÷ (MUᵧ/Pᵧ)
- (c) (MUₓ/MUᵧ) × (Pₓ/Pᵧ)
- (d) MUₓ/MUᵧ = Pₓ/Pᵧ
Show answer
Answer: (d)
60. When was ‘Niti Aayog’ formulated in India ?
- (a) 2013
- (b) 2014
- (c) 2015
- (d) 2016
Show answer
Answer: (c)
61. Which one is not the characteristics of indifference curve ?
- (a) Falling from left to right
- (b) Should not touch the axis
- (c) Never intersect each other
- (d) Vertical line
Show answer
Answer: (d)
62. By which the broad money is measured through ?
- (a) M₁
- (b) M₂
- (c) M₃
- (d) M₄
Show answer
Answer: (c)
63. Word “Potential Surprise” is related to which of the theory ?
- (a) Rent theory
- (b) Interest theory
- (c) Wage theory
- (d) Profit theory
Show answer
Answer: (d)
64. Demographic transition means
- (a) Shift from the condition of low birth and high death rates to high birth and high death rates
- (b) Shift from the condition of high birth and high death rates to low birth and low death rates
- (c) Shift from the condition of high death and low birth rates to high death and high birth rates
- (d) None of the above
Show answer
Answer: (b)
65. In economics problem of choice arises because
- (a) Needs are urgent in nature
- (b) Resources are given by nature
- (c) Resources have alternative uses
- (d) Resources are in government possession
Show answer
Answer: (c)
66. Which financial system is found in India ?
- (a) Free finance system
- (b) Federal finance system
- (c) Unitary finance system
- (d) Local finance system
Show answer
Answer: (b)
67. Find out an estimate of mode when mean, median are 12 and 14 respectively.
- (a) 16
- (b) 18
- (c) 14
- (d) 20
Show answer
Answer: (b)
68. What are the objectives of Taxation ?
- (a) Taxation is necessary payment
- (b) Regulatory of economy
- (c) Increasing of production
- (d) Balance in economy
Show answer
Answer: (b)
69. Which of the following is not a institutional source of rural credit ?
- (a) Primary Agricultural Co-operative Credit Societies
- (b) Land Development Bank
- (c) Regional Rural Bank
- (d) Indigenous Banker
Show answer
Answer: (d)
70.
- (a) Positive and is greater than the substitution effect
- (b) Equal to substitution effect
- (c) Less than the substitution effect
- (d) Negative and is greater than the substitution effect
Show answer
Answer: (a)
71. Which of them is not a type of equilibrium ?
- (a) Probable
- (b) Stable
- (c) Unstable
- (d) Neutral
Show answer
Answer: (a)
72. Match the following. List-I — List-II a. Liquidity preference theory of Interest — I. Senior b. Abstinence theory of Interest — II. Keynes c. Time preference theory of interest — III. Bohm Bawark d. Austrian theory of Interest — IV. Fisher Codes : a b c d
- (a) I II III IV
- (b) III I IV II
- (c) II I IV III
- (d) IV II III I
Show answer
Answer: (c)
73. R. N. Malhotra Committee gave recommendations in the field of
- (a) Agricultural sector
- (b) Insurance sector
- (c) Sick industries
- (d) Banking sector
Show answer
Answer: (b)
74. Marginal rate of transformation between two goods X and Y is defined as
- (a) MRTₓ,ᵧ = MCₓ/MCᵧ
- (b) MRTₓ,ᵧ = MRSₓ,ᵧ
- (c) MRTₓ,ᵧ = MRSₓ,ᵧ = Pₓ/Pᵧ
- (d) None of the above
Show answer
Answer: (a)
75. Elasticity of demand on different point of a demand curve is
- (a) Equal
- (b) Zero
- (c) Infinite
- (d) Different
Show answer
Answer: (d)
76. The difference between Gross National Product (GNP) and Net National Product (NNP) is due to
- (a) Net Income from abroad
- (b) Indirect tax
- (c) Depreciation charges
- (d) Govt. Subsidies
Show answer
Answer: (c)
77. According to Ricardo which type of cost difference is necessary for trade between two countries ?
- (a) Absolute cost difference
- (b) Comparative cost difference
- (c) Equal cost difference
- (d) None of these
Show answer
Answer: (b)
78. Which of the following condition shows least cost combination of production factors ?
- (a) P_L/P_K = MRTS_LK
- (b) P_L/P_K = MP_L/MP_K
- (c) MP_L/MP_K = dK/dL
- (d) All of the above
Show answer
Answer: (d)
79. Euler's theorem is related to
- (a) Money inflation
- (b) Distribution
- (c) Taxation
- (d) Population
Show answer
Answer: (b)
80. An optimum tariff
- (a) Improves the terms of trade
- (b) Keeps the terms of trade constant
- (c) Lowers the terms of trade
- (d) Reduces the country’s welfare level
Show answer
Answer: (a)
81. Which International organisation was formed at the Bretton Woods Conference of 1944 ?
- (a) WTO
- (b) World bank
- (c) IDA
- (d) None of these
Show answer
Answer: (b)
82. CRISIL, ICRA and CIBIL are
- (a) World Credit Rating Agencies
- (b) Indian Credit Rating Agencies
- (c) American Credit Rating Agencies
- (d) Asian Credit Rating Agencies
Show answer
Answer: (b)
83. Cobb-Douglas production function Q = ALᵅKᵝ will give constant returns to scale, when
- (a) α + β > 1
- (b) α + β < 1
- (c) α + β = 1
- (d) α − β = 1
Show answer
Answer: (c)
84. Put the following in chronological order on the basis of development. i. Law of demand ii. Revealed preference theorem iii. Indifference curve theorem iv. Law of diminishing marginal utility
- (a) i ii iii iv
- (b) i ii iv iii
- (c) iv iii i ii
- (d) i iv iii ii
Show answer
Answer: (d)
85. Each seller assumes his rival's output is constant in the model of
- (a) Cournot
- (b) Edgeworth
- (c) Bertrand
- (d) None of these
Show answer
Answer: (a)
86. Which one of the following is a combination of direct tax ?
- (a) Excise duty and wealth tax
- (b) Service tax and income tax
- (c) Wealth tax and income tax
- (d) Excise duty and service tax
Show answer
Answer: (c)
87. When a country imposes an import duty then the consumer savings of that country
- (a) Increases
- (b) Decreases
- (c) No change
- (d) None of the above
Show answer
Answer: (b)
88. An increase in money supply leads to
- (a) rightward shift of IS curve
- (b) leftward shift of IS curve
- (c) leftward shift of LM curve
- (d) rightward shift of LM curve
Show answer
Answer: (d)
89. Principle of Kinked demand curve was introduced by the economist called
- (a) Kaldor
- (b) Chamberlin
- (c) Paul M. Sweezy
- (d) None of these
Show answer
Answer: (c)
90. Micro Units Development Refinance Agency Ltd. (MUDRA) was launched by the Prime Minister of India on
- (a) 8 April 2015
- (b) 8 May 2015
- (c) 8 August 2015
- (d) 8 September 2015
Show answer
Answer: (a)
91. The Green Climate Fund (GCF) was established in Cancun Summit 2010, but thought of it began in
- (a) Bali Summit 2007
- (b) United Nations Framework Convention on Climate Change 1992
- (c) Copenhegen Summit 2009
- (d) None of the above
Show answer
Answer: (c)
92. The measurement to divide the series into two equal parts
- (a) mean
- (b) median
- (c) mode
- (d) mean deviation
Show answer
Answer: (b)
93. Which is the ‘Year of great divide’ in the history of population growth in India ?
- (a) 1921
- (b) 1951
- (c) 1971
- (d) 1991
Show answer
Answer: (a)
94. The headquarter of Asian Development Bank is at
- (a) Singapore
- (b) Manila
- (c) HongKong
- (d) Tokyo
Show answer
Answer: (b)
95. Commercial Banks create credit
- (a) Out of nothing
- (b) On the basis of their securities
- (c) On the basis of their total assets
- (d) On the basis of their cash deposits
Show answer
Answer: (d)
96. Match the following. List-I — List-II a. Relative Income Hypothesis of consumption — I. R.C.O. Mathews b. Capital stock Adjustment model of Investment — II. James Duesenburry c. Non Accelerating Inflation Rate of Unemployment (NAIRU) — III. G. Cassel d. Purchasing Power Parity theory — IV. Milton Friedman Codes : a b c d
- (a) IV I II III
- (b) III II I IV
- (c) II I IV III
- (d) I II III IV
Show answer
Answer: (c)
97. If MPC = 0.5, the multiplier (k) will be
- (a) ½
- (b) 5
- (c) zero
- (d) 2
Show answer
Answer: (d)
98. In the Samuelson’s model of trade cycle, in which of the following situation we get regular trade cycle ?
- (a) α = 0.5, β = 1
- (b) α = 0.5, β = 2
- (c) α = 0.6, β = 2
- (d) α = 0.8, β = 4
Show answer
Answer: (b)
99.
- (a) greater than unity
- (b) equal to unity
- (c) less than unity
- (d) zero
Show answer
Answer: (a)
100. Important features of statistical data is
- (a) Statistics are numerically expressed
- (b) Statistics are aggregate of facts
- (c) Statistics are collected by estimation
- (d) All of the above
Show answer
Answer: (d)
101. Real wage is, more returns than monetary wage
- (a) Free house
- (b) Free treatment
- (c) Free education for children
- (d) All of the above
Show answer
Answer: (d)
102. The accelerator coefficient may be expressed as
- (a) ΔY/ΔC
- (b) ΔY/ΔI
- (c) ΔC/ΔI
- (d) ΔI/ΔC
Show answer
Answer: (d)
103. Which one among the following law given by J.B. Say is proved false by economist Keynes ?
- (a) Law of market
- (b) Law of demand and supply
- (c) Law of economic welfare
- (d) Principle of quantity money
Show answer
Answer: (a)
104. The headquarter of ADB is in
- (a) Cairo
- (b) Tokyo
- (c) Manila
- (d) Dubai
Show answer
Answer: (c)
105. NABARD was established on the recommendations of
- (a) Public Accounts Committee
- (b) Narasimhan Committee
- (c) Shivaraman Committee
- (d) Chelaiyah Committee
Show answer
Answer: (c)
106. Which of the following is not an objective of fiscal policy ?
- (a) Economic growth
- (b) Economic stability
- (c) Maximisation of employment level
- (d) Regulating of financial institution
Show answer
Answer: (d)
107. Tariff is not a tool for
- (a) Balance of payments
- (b) Protection
- (c) Decrease in imports
- (d) Exchange rate stabilization
Show answer
Answer: (d)
108. Which one of the following is not a component of “Human Development Index” ?
- (a) Life expectancy
- (b) Per Captia income
- (c) Infant mortality rate
- (d) Literacy rate
Show answer
Answer: (c)
109. Which of the following is not true for the Cobb-Douglas Production Function ?
- (a) X = b₀L^b₁·K^b₂
- (b) Constant returns to scale
- (c) Euler's theorem is satisfied
- (d) Elasticity of substitution is greater than one
Show answer
Answer: (d)
110. The Gender Empowerment Measure (GEM) was introduced in Human Development Report from the year
- (a) 1975
- (b) 1990
- (c) 1994
- (d) 1995
Show answer
Answer: (d)
111. In which sector disguised unemployment found ?
- (a) Banking sector
- (b) Service sector
- (c) Agriculture sector
- (d) Industrial sector
Show answer
Answer: (c)
112. When there is monopsony in labour market and perfect competition in product market, the monopsony exploitation in the equilibrium situation is the difference between
- (a) VMP and MRP
- (b) ARP and MRP
- (c) MW and AW
- (d) MW and MRP
Show answer
Answer: (c)
113. Total Quasi rent is equal to
- (a) Total Revenue − Total cost
- (b) Total Revenue − Total fixed cost
- (c) Total Revenue − Total variable cost
- (d) Total Revenue / Total cost
Show answer
Answer: (c)
114. Inflation is profitable for
- (a) Government
- (b) Consumer
- (c) Producer
- (d) Investor
Show answer
Answer: (c)
115. Who has first used the term “Neutrality of Money” ?
- (a) Robertson
- (b) Hayek
- (c) Wiksted
- (d) Friedman
Show answer
Answer: (b)
116. Reproductive and Child Health (RCH) – II was started from
- (a) April 2004
- (b) April 2006
- (c) April 2005
- (d) April 2007
Show answer
Answer: (c)
117. Consumption tax was recommended by
- (a) A. M. Khusro
- (b) A. K. Sen
- (c) Kaldor
- (d) J. R. Hicks
Show answer
Answer: (c)
118. Keynes was most concerned with
- (a) Demand-pull inflation
- (b) Cost push inflation
- (c) Structural inflation
- (d) Stagflation
Show answer
Answer: (a)
119. Continuous substitutability of capital and labour is shown by
- (a) Smooth convex isoquant curve
- (b) Kinked isoquant curve
- (c) Linear isoquant curve
- (d) Concave isoquant curve
Show answer
Answer: (c)
120. Propounder of comparative cost advantage theory
- (a) Marshall
- (b) Ricardo
- (c) Adam Smith
- (d) J.S. Mill
Show answer
Answer: (b)
121. The different combinations on a indifference curve show
- (a) Maximum satisfaction
- (b) Same satisfaction
- (c) Greater satisfaction at upper point
- (d) Less satisfaction at upper point
Show answer
Answer: (b)
122. The budget in which its tax revenue and expenditure is equal. It is called
- (a) Surplus budget
- (b) Unbalanced budget
- (c) Balanced budget
- (d) None of these
Show answer
Answer: (c)
123. According to the Phillips curve analysis, the way to solve inflation is to
- (a) Increase unemployment or increase productivity
- (b) Increase unemployment or decrease productivity
- (c) Decrease unemployment or increase money supply
- (d) Increase unemployment or increase the money supply
Show answer
Answer: (b)
124. According to ‘Heckscher-Ohlin’ theory of factor abundance in terms of factor price, when a country will be called capital abundant ?
- (a) (P_C/P_L)_B < (P_C/P_L)_A
- (b) (P_L/P_C)_A > (P_L/P_C)_B
- (c) (P_C/P_L)_A < (P_C/P_L)_B
- (d) (P_C/P_L)_A = (P_C/P_L)_B
Show answer
Answer: (c)
125. OPEC controls oil export through
- (a) Cartel
- (b) Dumping
- (c) Monopoly
- (d) None of these
Show answer
Answer: (a)

Show answers

Answer key

Answer key from the U.P. Secondary Education Services Selection Board’s official answer key for this sitting. “—” means the key gave none: the question was deleted.

Economics

Q 1: (c)
Q 2: (c)
Q 3: (c)
Q 4: (c)
Q 5: (d)
Q 6: (d)
Q 7: (a)
Q 8: (d)
Q 9: (b)
Q 10: (b)
Q 11: (a)
Q 12: (b)
Q 13: (a)
Q 14: (a)
Q 15: (d)
Q 16: (b)
Q 17: (a)
Q 18: (a)
Q 19: (b)
Q 20: (d)
Q 21: (b)
Q 22: (b)
Q 23: (b)
Q 24: (a)
Q 25: (b)
Q 26: (c)
Q 27: (b)
Q 28: (a)
Q 29: (c)
Q 30: (a)
Q 31: (a)
Q 32: (a)
Q 33: (b)
Q 34: (b)
Q 35: (d)
Q 36: (c)
Q 37: (d)
Q 38: (c)
Q 39: (c)
Q 40: (d)
Q 41: (b)
Q 42: (c)
Q 43: (c)
Q 44: (b)
Q 45: (a)
Q 46: (b)
Q 47: (c)
Q 48: (b)
Q 49: (b)
Q 50: (b)
Q 51: (b)
Q 52: (a)
Q 53: (b)
Q 54: (c)
Q 55: (d)
Q 56: (c)
Q 57: (c)
Q 58: (c)
Q 59: (d)
Q 60: (c)
Q 61: (d)
Q 62: (c)
Q 63: (d)
Q 64: (b)
Q 65: (c)
Q 66: (b)
Q 67: (b)
Q 68: (b)
Q 69: (d)
Q 70: (a)
Q 71: (a)
Q 72: (c)
Q 73: (b)
Q 74: (a)
Q 75: (d)
Q 76: (c)
Q 77: (b)
Q 78: (d)
Q 79: (b)
Q 80: (a)
Q 81: (b)
Q 82: (b)
Q 83: (c)
Q 84: (d)
Q 85: (a)
Q 86: (c)
Q 87: (b)
Q 88: (d)
Q 89: (c)
Q 90: (a)
Q 91: (c)
Q 92: (b)
Q 93: (a)
Q 94: (b)
Q 95: (d)
Q 96: (c)
Q 97: (d)
Q 98: (b)
Q 99: (a)
Q 100: (d)
Q 101: (d)
Q 102: (d)
Q 103: (a)
Q 104: (c)
Q 105: (c)
Q 106: (d)
Q 107: (d)
Q 108: (c)
Q 109: (d)
Q 110: (d)
Q 111: (c)
Q 112: (c)
Q 113: (c)
Q 114: (c)
Q 115: (b)
Q 116: (c)
Q 117: (c)
Q 118: (a)
Q 119: (c)
Q 120: (b)
Q 121: (b)
Q 122: (c)
Q 123: (b)
Q 124: (c)
Q 125: (a)