Sie sind auf Seite 1von 24

Signature and Name of Invigilator

OMR Sheet No. : ......................................................


(To be filled by the Candidate)

1. (Signature)

Roll No.

(Name)

(In figures as per admission card)

Roll No.

2. (Signature)

(In words)

(Name)

Test Booklet No.

J0 1 0 8

PAPERII

ECONOMICS

Time : 1 hours]

Number of Pages in this Booklet : 24

[Maximum Marks : 100

Number of Questions in this Booklet : 50

Instructions for the Candidates


1.
2.
3.

4.

1. U DU U S U UU U

Write your roll number in the space provided on the top of


this page.
This paper consists of fifty multiple-choice type of questions.
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.
Each item has four alternative responses marked (A), (B),
(C) and (D). You have to darken the oval as indicated
below on the correct response against each item.
Example :

2. -
3. U U U, -S U U U

-S
U
-S U U
U U SUU-U S
SU U

(ii)

U DU U U U -S DU
U U U U U U S
DU / U UU
U U S SU U
UUU S U U -S
U U
-S U
UQ

(iii) -S R OMR U
U UU OMR R -S U

U
4. U U (A), (B), (C) (D)

U UU U

(C) U
5. U U I U U- U

where (C) is the correct response.


5. Your responses to the items are to be indicated in the Answer
Sheet given inside the Paper I booklet only. If you mark
at any place other than in the ovals 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
test booklet, 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 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 marking.

J0108

(i)

U U U
S U U U , U

6. U U
7. (Rough Work) S DU U U
8. U-S U

, U U U
U
9. U # U U-S U UU

U U # U U
U

/ U ZU S U
11. U (UU) U U

12. U U
10.

P.T.O.

ECONOMICS
PAPERII
Note :

1.

This paper contains fifty (50) multiple choice questions, each question carrying
two (2) marks. Attempt all of them.

The concept of consumers surplus was coined by :


(A) Ricardo
(B) Fisher
(C) Marshall

(D)

Pigou

2.

For complementary goods the indifference curve takes the shape of :


(A) a straight line
(B) a downward sloping line
(C) a right angle
(D) a negatively sloped curve

3.

PAUL M SWEEZY used kinked demand curve to explain :


(A) Price determination in oligopoly (B) Price rigidity in oligopoly
(C) Profit maximisation in oligopoly (D) Price output determination in oligopoly

4.

According to Phillips curve when rate of inflation increases, then rate of :


(A) unemployment also increases
(B) unemployment decreases
(C) unemployment will remain constant
(D) Full employment will prevail

5.

According to Milton Friedman quantity theory of money is the theory of :


(A) Prices
(B) Income
(C) Demand for money
(D) Supply of money

6.

As per the hypothesis of Rational expectations in guessing the future economic


agents :
(A) are always right
(B) are always wrong
(C) make systematic errors
(D) make random errors

7.

According to Marx increase in the organic composition of capital leads to :


(A) increase in the rate of growth of economy
(B) increase in employment
(C) decrease in the rate of profit
(D) increase in the rate of profit

8.

Which of the following feature is not a universally observed in under developed


countries ?
(A) Low per capita income
(B) High density of population
(C) Higher share of agriculture in G.D.P. (D) Low literacy rate

J0108

S
II
U

(50)

SD

(2)

1.

h U mU ?

(A)
2.

3.

4.

5.

6.

7.

UU

(B)

(C)

(D)

U S (indifference curve) U U ?

(A)

(B)

U U U

(C)

(D)

.. S$ U ?

(A)

U U

(B)

U (Price rigidity)

(C)

U U

(D)

U S U

(A)

U$U

(B)

U$U U

(C)

U$U SU U

(D)

U$U S

U U U U h h ?

(A)

(B)

(C)

(D)

U U

(A)

(B)

(C)

S U U

(D)

U U U

U (organic composition of capital) h


U U U ?

8.

(A)

S U h

(B)

U$U h

(C)

(D)

U h

- ?

(A)

(B)

(C)

U (G.D.P.)

(D)

U U

J0108

P.T.O.

9.

In which of the following growth models human capital plays an important role ?
(A) Neo - Classical Model
(B) Endogenous Growth Model
(C) Marxian Model
(D) Harrod - Domar Model

10.

For the first time in India zero base budgeting was implemented in the finance
ministership of :
(A) P. Chidambaram
(B) Manmohan Singh
(C) V. P. Singh
(D) Jaswant Singh

11.

Gadgil formula is applicable to :


(A) Grants given by planning commission
(B) Grants given by Finance commission
(C) Grants given by RBI
(D) Grants given by Foreign Countries

12.

Excess burden of tax means :


(A) The net welfare loss from a tax
(B) Very heavy burden
(C) Burden over and above the money burden
(D) Money burden and Real burden

13.

Leontief Paradox on the factor composition of US imports and exports :


(A) Supports Heckscher - Ohlin model
(B) Refutes Heckscher - Ohlin model
(C) Supports Prebish - Singer model
(D) Refutes Prebish - Singer model

14.

To how many countries, India offered to supply the services such as - Legal, health,
social and placement etc. ?
(A) 30 countries
(B) 27 countries
(C) 49 countries
(D) 5 countries

15.

One of the important factors in trade reforms is to :


(A) increase export duties
(B) reduce import duties
(C) keep export duties constant
(D) keep import duties constant

16.

As per the 61st NSS Round (2004 - 05), going by the mixed return period, the poverty
ratio at the national level was :
(A) 27.8%
(B) 22.00%
(C) 25%
(D) 17%

17.

The share of Indias agricultural exports in the total exports in the year 2001 - 02 was :
(A) 31.7%
(B) 30.6%
(C) 19.4%
(D) 14%

J0108

9.

10.

11.

12.

13.

14.

U (h) - ?

(A)

-S U

(B)

(C)

(D)

U-U U

U U -U U U

(A)

. U

(B)

(C)

..

(D)

U U ?

(A)

mU U

(B)

mU U

(C)

U.. mU U

(D)

mU U

U U U

(A)

(B)

(C)

U U U U

(D)

U U S U

U U - U U

(A)

U - h U

(B)

U - h U U

(C)

- U h U

(D)

- U h U U

U , SS, U
S ?

(A)
15.

16.

30

(B)

27

(C)

49

(D)

U U

(A)

U () h

(B)

U ()

(C)

U () SU U

(D)

U SU U

61 (2004 - 05) U, , UcU SU U


(A)
17.

27.8%

(B)

22.00%

(C)

25%

(D)

17%

(D)

14%

2001 - 02 U U

(A)
J0108

31.7%

(B)

30.6%

(C)
5

19.4%

P.T.O.

18.

The probability distribution in which mean and variance are equal :


(A) Poisson
(B) Binomial
(C) NORMAL
(D) Chi-square (x2)

19.

To test H0 : m5m0, against H1 : m m0 in case of N (m, s2) where s2 is known, H0 is


rejected if :

20.

21.

(A)

x2 m0 >

za
n /2

(B)

x2 m0

za
n /2

(C)

x2 m0

s
t a (n 1)
n /2

(D)

x2 m0 <

s
t a (n 1)
n /2

The
(A)
(B)
(C)
(D)

regression coefficient is independent of :


change of origin and scale
change of origin only
change of scale only
Neither change of origin nor change of scale

Consider the following statements and select correct answer from the code given below
for question nos. 21 to 30 :
Assertion (A) : Long run Phillips curve is a vertical line at the NAIRU.
Reason (R) :
Non - accelerating inflation rate of unemployment, more or less, stands
accepted.
(A) Both (A) and (R) are false
(B) Both (A) and (R) are true but (R) is not the reason
(C) Both (A) and (R) are true and (R) is the explanation
(D) (A) is true, (R) is false

22.

Assertion (A) : Factor price ratio is irrelevant in deciding the level of output.
Reason (R) :
Fixes coefficients production function prevails.
(A) Both (A) and (R) are true but (R) is not the explanation
(B) Both (A) and (R) are false
(C) Both (A) and (R) are true and (R) is the explanation
(D) (A) is true but (R) is false

23.

Assertion (A) : One brand of non neutral terminal progress is as good as the other, in
the context of models of steady state growth.
Reason (R) :
The elasticity of substitution of production function equals one.
(A) Both (A) and (R) are false
(B) Both (A) and (R) are true
(C) (A) is true, (R) is false
(D) (A) is false, (R) is true

J0108

18.

U () U U UU

(A)
19.

(B)

(C)

(D)

-SU (x2)

H0 : m5m0 H1 : m m0 U U N(m, s2), s2 , H0


SU

20.

(A)

x2 m0 >

za
n /2

(B)

x2 m0

za
n /2

(C)

x2 m0

s
t a (n 1)
n /2

(D)

x2 m0 <

s
t a (n 1)
n /2

S ?

(A)

(origin) U U

(B)

U U

(C)

(D)

U U

21 30

U U U

U UU

21.

(A) U U US U
(R)

22.

(A)

(A) U (R)

(B)

(A) U (R) U (R) U

(C)

(A) U (R) U (R)

(D)

(A) , (R)

(A) SU U U
(R)

23.

U$U S U U, ,

U U

(A)

(A) U (R) U (R)

(B)

(A) U (R)

(C)

(A) U (R) U (R)

(D)

(A) , UU (R)

(A) S h US l U
U
(R)

(A)

(A) U (R)

(B)

(A) U (R)

(C)

(A) U (R)

(D)

(A) , (R) U

J0108

P.T.O.

24.

Assertion (A) : In the heydays of planning Amartya Sen advocated the adoption of
capital intensive technique for Indian.
Reason (R) :

25.

(A)

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

(B)

(A) is true but (R) is false

(C)

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

(D)

(A) is false but (R) is true

Assertion (A) : India is a favoured destination for the Western Business process
outsourcing.
Reason (R) :

26.

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

(B)

Both (A) and (R) are false

(C)

(A) is false, (R) is true

(D)

Both (A) and (R) are true but (R) is not the explanation

Assertion (A) : Indian economy is on a higher growth trajectory in the post - Reforms
era.
Trade is an engine of growth.

(A)

(A) is true and (R) is false

(B)

Both (A) and (R) are true but (R) is not the explanation

(C)

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

(D)

Both (A) and (R) are true

Assertion (A) : Business cycles are an experienced reality.


Reason (R) :

28.

India has a large pool of English speaking population.

(A)

Reason (R) :

27.

India was a relatively labour abundant country.

Innovations are an act of creative destruction.

(A)

Both (A) and (R) false

(B)

Both (A) and (R) correct but (R) need not be the explanation

(C)

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

(D)

(A) is false (R) is true

Assertion (A) : Neutral taxes are feasible.


Reason (R) :

Neutral taxes have no excess burden.

(A)

Both (A) and (R) true and (R) is the explanation

(B)

Both (A) and (R) are true but (R) is not the explanation

(C)

(A) is false but (R) is true

(D)

(A) is true but (R) is false

J0108

24.

(A) S U l
S
(R)

25.

(A)

(A) U (R) (R)

(B)

(A) UU (R)

(C)

(A) U (R) UU (R)

(D)

(A) , UU (R)

(A) U U sd S
(R)

26.

(A) U (R) (R)

(B)

(A) U (R)

(C)

(A) U (R)

(D)

(A) U (R) U (R)

(A) UU U S U S U
U

(A)

(A) U (R)

(B)

(A) U (R) UU (R)

(C)

(A) U (R) U (R)

(D)

(A) U (R)

(A) U-
(R)

28.

(A)

(R)

27.

U -

(A)

(A) U (R)

(B)

(A) U (R) UU (R)

(C)

(A) U (R) U (R)

(D)

(A) (R)

(A) US U U (feasible)
(R)

US U U (excess)

(A)

(A) U (R) U (R)

(B)

(A) U (R) UU (A)

(C)

(A) UU (R)

(D)

(A) UU (R)

J0108

P.T.O.

29.

Assertion (A) : Z test is applied to test for mean of population for large sample.
Reason (R) :

30.

All distributions obey central limit theorem.

(A)

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

(B)

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

(C)

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

(D)

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

Assertion (A) : India needs to spend a lot on Health Care.


Reason (R) :

India has BIMARU states.

(A)

Both (A) and (R) true

(B)

(A) is true (R) is false

(C)

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

(D)

Both (A) and (R) true but (R) is not the explanation

Sequencing Type (31-38) :


development.
31.

Put the following in the sequential order of its

(i)

Revealed Preference Theory

(ii)

Akerlof Lemons Market

(iii)

Ordinal Utility Analysis

(iv)

N. M. Utility Analysis

Codes :

32.

(A)

(ii)

(i)

(iii)

(iv)

(B)

(i)

(iv)

(ii)

(iii)

(C)

(iii)

(ii)

(iv)

(i)

(D)

(iv)

(ii)

(i)

(iii)

(i)

Multiplier - Accelerator interaction and trade cycle

(ii)

Keynes theory of trade cycle

(iii)

Sunspot theory of trade cycle

(iv)

Hawtreys monetary theory of trade cycle

Codes :
(A)

(ii)

(iii)

(iv)

(i)

(B)

(iii)

(iv)

(ii)

(i)

(C)

(i)

(ii)

(iv)

(iii)

(D)

(iv)

(ii)

(i)

(iii)

J0108

10

29.

(A) Z-USU
(R)

30.

U U U U U

(A)

(A) U (R) U (R), (A)

(B)

(A) U (R) UU (R), (A)

(C)

(A) , UU (R)

(D)

(A) , U (R)

(A) U SS U
(R)

U L U

(A)

(A) U (R)

(B)

(A) U (R)

(C)

(A) U (R) U (R)

(D)

(A) U (R) U (R)

31 38

U ( cU )

31.

(i)

S h

(ii)

U (Akerlof) U

(iii)

(iv)

..

32.

(A)
(B)
(C)
(D)

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

(i)
(iv)
(ii)
(ii)

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

(iv)
(iii)
(i)
(iii)

(i)

-U (Multiplier - Accelerator interaction) U

(ii)

U h

(iii)

U SU h

(iv)

U (Hawtreys) U h

(A)
(B)
(C)
(D)
J0108

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

(iii)
(iv)
(ii)
(ii)

(iv)
(ii)
(iv)
(i)

(i)
(i)
(iii)
(iii)
11

P.T.O.

33.

(i)
Fei-Ranis Model
(ii) Lewis Duel Economy Model
(iii) Todaros Rural Urban Migration Model
(iv) Jorgenson Testing of a Dualism Model
Codes :
(A) (iii) (i)
(ii) (iv)
(B) (i)
(ii) (iii) (iv)
(C) (ii) (i)
(iv) (iii)
(D) (iv) (ii) (i)
(iii)

34.

(i)
Intra - Industry Trade Model
(ii) Comparative Cost Principle
(iii) Leontief Paradox
(iv) Heckscher - Ohlin Theorem
Codes :
(A) (ii) (iv) (iii) (i)
(B) (i)
(ii) (iii) (iv)
(C) (iv) (iii) (ii) (i)
(D) (iii) (ii) (i)
(iv)

35.

(i)
Planning Commission
(ii) Mahalanobis Model
(iii) Plan Holiday
(iv) Rolling Plan
Codes :
(A) (ii) (iii) (i)
(iv)
(B) (iv) (ii) (iii) (i)
(C) (i)
(ii) (iii) (iv)
(D) (iii) (i)
(iv) (ii)

36.

(i)
W.T.O.
(ii) GATT
(iii) HONGKONG SUMMIT
(iv) DUNKLE DRAFT
Codes :
(A) (i)
(ii) (iii) (iv)
(B) (iv) (i)
(iii) (ii)
(C) (iii) (iv) (i)
(ii)
(D) (ii) (iii) (iv) (i)

J0108

12

33.

(i)

-U h

(ii)

U (Duel) h

(iii)

UUU -U h

(iv) m h (Jorgenson) mU U
Codes :
(A) (iii) (i)
(ii) (iv)
(B) (i)
(ii) (iii) (iv)
(C) (ii) (i)
(iv) (iii)
(D) (iv) (ii) (i)
(iii)
34.

(i)

U-l U h

(ii)

(iii)

U UU

(iv)

U - U

35.

(A)
(B)
(C)
(D)

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

(iv)
(ii)
(iii)
(ii)

(iii)
(iii)
(ii)
(i)

(i)

(ii)

(iii)

(iv)

(i)
(iv)
(i)
(iv)

36.

(A)
(B)
(C)
(D)

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

(iii)
(ii)
(ii)
(i)

(i)
(iii)
(iii)
(iv)

(iv)
(i)
(iv)
(ii)

(i)

U.U..

(ii)

..U.U

(iii)

(iv)

U UU

(A)
(B)
(C)
(D)
J0108

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

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

(iii)
(iii)
(i)
(iv)

(iv)
(ii)
(ii)
(i)
13

P.T.O.

37.

(i)

WALRAS

(ii)

WICKSELL

(iii)

J. S. MILL

(iv)

MARSHALL

Codes :

38.

(A)

(iii)

(i)

(iv)

(ii)

(B)

(i)

(ii)

(iii)

(iv)

(C)

(iv)

(iii)

(ii)

(i)

(D)

(ii)

(iii)

(i)

(iv)

(i)

Neutral Fiscal policy

(ii)

Functional Finance

(iii)

Balanced Budget

(iv)

Compensatory Fiscal policy

Codes :
(A)

(i)

(ii)

(iii)

(iv)

(B)

(ii)

(iii)

(i)

(iv)

(C)

(iv)

(i)

(iii)

(ii)

(D)

(i)

(iii)

(iv)

(ii)

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

List I

List II

(a)

Un-balanced growth

(i)

Hirschman, A. O.

(b)

R and D and growth

(ii)

Marx, K.

(c)

Human Capital and growth

(iii)

Romer, P.

(d)

Surplus value and accumulation (iv)

Codes :
(a)

(b)

(c)

(d)

(A)

(i)

(ii)

(iii)

(iv)

(B)

(iv)

(iii)

(ii)

(i)

(C)

(i)

(iii)

(iv)

(ii)

(D)

(ii)

(iv)

(i)

(iii)

J0108

14

R. Lucas

37.

(i)

(ii)

(iii)

..

(iv)

38.

(A)

(iii)

(i)

(iv)

(ii)

(B)

(i)

(ii)

(iii)

(iv)

(C)

(iv)

(iii)

(ii)

(i)

(D)

(ii)

(iii)

(i)

(iv)

(i)

US U

(ii)

(iii)

(iv)

U U

(A)

(i)

(ii)

(iii)

(iv)

(B)

(ii)

(iii)

(i)

(iv)

(C)

(iv)

(i)

(iii)

(ii)

(D)

(i)

(iii)

(iv)

(ii)

39 46 ) :

U U

II

U, h

U U

39.

II

(a)

(i)

, .

(b)

R U D

(ii)

(c)

(iii)

UU,

(d)

(iv)

U.

(a)

(b)

(c)

(d)

(A)

(i)

(ii)

(iii)

(iv)

(B)

(iv)

(iii)

(ii)

(i)

(C)

(i)

(iii)

(iv)

(ii)

(D)

(ii)

(iv)

(i)

(iii)

J0108

15

P.T.O.

40.

List I

List II

(a)

Export Pessimism

(i)

Emmanuel, A.

(b)

Un-equal exchange

(ii)

Prebisch, R.

(c)

Critical Minimum Efforts thesis

(iii)

Schumpeter, J.

(d)

Innovations - Entrepreneurship

(iv)

H. Liebenstein

Codes :
(a)

(b)

(c)

(d)

(A)

(i)

(ii)

(iii)

(iv)

(B)

(ii)

(i)

(iv)

(iii)

(C)

(iii)

(iv)

(ii)

(i)

(D)

(iv)

(iii)

(i)

(ii)

41.

List I

List II

(a)

Reserve Bank of India

(i)

1968

(b)

First Finance Commission

(ii)

1950

(c)

Gadgil formula

(iii)

1935

(d)

Planning Commission

(iv)

1952

Codes :
(a)

(b)

(c)

(d)

(A)

(ii)

(i)

(iv)

(iii)

(B)

(i)

(ii)

(iii)

(iv)

(C)

(iii)

(iv)

(i)

(ii)

(D)

(iv)

(iii)

(ii)

(i)

42.

List I

List II

(a)

Investment Multiplier

(i)

R.F. Kahn

(b)

Employment Multiplier

(ii)

Milton Friedman

(c)

Restatement of Quantity theory of money

(iii)

A. Laffer

(d)

Supply side economics

(iv)

J. M. Keynes

Codes :
(a)

(b)

(c)

(d)

(A)

(iv)

(i)

(ii)

(iii)

(B)

(i)

(ii)

(iii)

(iv)

(C)

(iv)

(iii)

(ii)

(i)

(D)

(ii)

(iv)

(i)

(iii)

J0108

16

40.

II

(a)

(i)

, .

(b)

(ii)

, U

(c)

(iii)

UU,

(d)

(iv)

. SU

(a)
(i)
(ii)
(iii)
(iv)

(A)
(B)
(C)
(D)
41.

(b)
(ii)
(i)
(iv)
(iii)

(c)
(iii)
(iv)
(ii)
(i)

(d)
(iv)
(iii)
(i)
(ii)

II

(a)

U U

(i)

1968

(b)

(ii)

1950

(c)

(iii)

1935

(d)

(iv)

1952

(A)
(B)
(C)
(D)
42.

(a)
(ii)
(i)
(iii)
(iv)

(b)
(i)
(ii)
(iv)
(iii)

(c)
(iv)
(iii)
(i)
(ii)

(d)
(iii)
(iv)
(ii)
(i)

II

(a)

(i)

U.. (Kahn)

(b)

U$U

(ii)

U U

(c)

- h

(iii)

. U

(d)

(iv)

..

(A)
(B)
(C)
(D)
J0108

(a)
(iv)
(i)
(iv)
(ii)

(b)
(i)
(ii)
(iii)
(iv)

(c)
(ii)
(iii)
(ii)
(i)

(d)
(iii)
(iv)
(i)
(iii)
17

P.T.O.

43.

List I

List II

(a)

Marginalist Revolution

(i)

Samuelson

(b)

Multiplier Accelerator model

(ii)

J. R. Hicks

(c)

IS - LM curves

(iii)

Schumpeter

(d)

Capitalism, Socialism and


Democracy

(iv)

Jevons

Codes :
(a)

(b)

(c)

(d)

(A)

(iv)

(i)

(ii)

(iii)

(B)

(iii)

(ii)

(iv)

(i)

(C)

(ii)

(iii)

(i)

(iv)

(D)

(i)

(iv)

(iii)

(ii)

44.

List I

List II

(a)

Product Differentiation

(i)

Sraffa

(b)

Duopoly Analysis

(ii)

Modigliani

(c)

Production of commodities
by means of commodities

(iii)

Cournot

(d)

Life cycle Hypothesis

(iv)

Chamberlin

Codes :
(a)

(b)

(c)

(d)

(A)

(iv)

(iii)

(i)

(ii)

(B)

(iii)

(iv)

(ii)

(i)

(C)

(ii)

(i)

(iii)

(iv)

(D)

(i)

(ii)

(iv)

(iii)

45.

List I

List II

(a)

H0 : m5m0, H1 : m$m0

(i)

All Parameters of distribution are


specified

(b)

Simple Hypothesis

(ii)

Point estimation

(c)

Consistency

(iii)

One sided test

(d)

P013P1051

(iv)

Time Reversal test

Codes :

(a)

(b)

(c)

(d)

(A)

(ii)

(iii)

(i)

(iv)

(B)

(i)

(iv)

(ii)

(iii)

(C)

(iii)

(i)

(ii)

(iv)

(D)

(iii)

(iv)

(ii)

(i)

J0108

18

43.

II

(a)

(i)

(b)

U U

(ii)

. U.

(c)

IS - LM

(iii)

UU

(d)

(iv)

(A)
(B)
(C)

(a)
(iv)
(iii)
(ii)

(b)
(i)
(ii)
(iii)

(c)
(ii)
(iv)
(i)

(d)
(iii)
(i)
(iv)

(D)

(i)

(iv)

(iii)

(ii)

44.

II

(a)

(Product Differentiation)

(i)

(b)

m-U

(ii)

(c)

S mU S

(Production of commodities
by means of commodities)

(iii)

UU

U (Life cycle Hypothesis)

(iv)

(d)
U

(A)
(B)
(C)
(D)
45.

(a)
(iv)
(iii)
(ii)
(i)

(b)
(iii)
(iv)
(i)
(ii)

(c)
(i)
(ii)
(iii)
(iv)

(d)
(ii)
(i)
(iv)
(iii)

II

(a)

H0 : m5m0, H1 : m$m0

(i)

(b)

U U

(ii)

(c)

(iii)

USU

(d)

P013P1051

(iv)

USU

(A)
(B)
(C)
(D)
J0108

(a)
(ii)
(i)
(iii)
(iii)

(b)
(iii)
(iv)
(i)
(iv)

(c)
(i)
(ii)
(ii)
(ii)

(d)
(iv)
(iii)
(iv)
(i)
19

P.T.O.

46.

List I

List II

(a)

For independent events A and B

(i)

P (A B)5 0

(b)

For mutually exclusive events A and B

(ii)

P (A B)5 P (A). P (B)

(c)

ACB

(iii)

Bayes theorem

(d)

Conditional Probability

(iv)

P (B ) P (A )

Codes :
(a)

(b)

(c)

(d)

(A)

(ii)

(iv)

(i)

(iii)

(B)

(ii)

(i)

(iv)

(iii)

(C)

(i)

(ii)

(iv)

(iii)

(D)

(iv)

(i)

(ii)

(iii)

Read the passage given below and answer questions from 47 to 50 based on your
understanding of the passage :
The current situation reminds me of the world some seventy years ago. As the
world plummeted into the Great Depression, advocates of the free market said, Not to
worry; markets are self-regulating, and given time, economic prosperity will resume.
Never mind the misery of those whose lives are destroyed waiting for this so-called
eventuality. Keynes argued that markets were not self-correcting, or not at least in a
relevant time frame. (As he famously put it, In the long run, we are all dead.)
Unemployment could persist for years, and government intervention was required.
Keynes was pilloried - attacked as a socialist, a critic of the market. Yet in a sense,
Keynes was intensely conservative. He had a fundamental belief in the markets : if
only government could correct this one failure, the economy would be able to function
reasonably efficiently. He did not want a wholesale replacement of the market system;
but he knew that unless these fundamental problems were addressed, there would be
enormous popular pressures. And Keyness medicine worked : since World War II,
countries like the United States, following Keynisian prescriptions, have had fewer
and shorter-lived downturns, and longer expansions than previously.
47.

During Great Depression, the advocates of free market argued that :


(A)

Markets are prone to failure

(B)

Markets are self regulating

(C)

Government should intervene with the help of monetary policy

(D)

Government should intervene with the help of fiscal policy

J0108

20

46.

II

(a)

S U A B

(i)

P (A B)5 0

(b)

USU U

(ii)

P (A B)5P (A). P (B)

A B
(c)

ACB

(iii)

(Bayes) U

(d)

(iv)

P(B)/P(A)

(A)
(B)
(C)
(D)

(a)
(ii)
(ii)
(i)
(iv)

(b)
(iv)
(i)
(ii)
(i)

(c)
(i)
(iv)
(iv)
(ii)

(d)
(iii)
(iii)
(iii)
(iii)

U U U U

47 50

S 70 S U (U
U) S U U U , $U ,
, $U S- , , h U
c h U U$U U
U LU $U S
U U ( , , U )
U$U U Z U UU S

- , $U l cU
UUU M $U , UU U
, S U U U U $U S U
U S , U S U
U U U () ,
m -h , U U U ,
U , SU

47.

(U U) , $U

(A)

$U U

(B)

$U S

(C)

UU mU S U

(D)

UU U mU S U

J0108

21

P.T.O.

48.

49.

50.

During Great Depression, Keynes was :


(A)

attacked as being an advocate of free market

(B)

attacked as being an advocate of active monetary policy

(C)

attacked as being a socialist

(D)

attacked as being an advocate of passive monetary policy

Keynes wanted :
(A)

Wholesale replacement of the market system

(B)

Socialistic system to be created for the world

(C)

an unregulated market system

(D)

did not want wholesale replacement of the market system

By following the policy prescriptions of Keynes :


(A)

The world economy has suffered from prolonged depression

(B)

The world economy has suffered from high rates of inflation

(C)

The United states had fewer and shorter downturns

(D)

The United States had higher rates of unemployment in the post second world
war era.

-oOo-

J0108

22

48.

49.

50.

- (U U) ?

(A)

$U M

(B)

(C)

(D)

c M

(A)

$U S U U S

(B)

S SU

(C)

$U S

(D)

$U S U U S

mU U U U

(A)

(B)

S S U

(C)

U - U

(D)

U m h UU U

-oOo-

J0108

23

P.T.O.

Space For Rough Work

J0108

24