CBSE Assistant Secretary 2024: Assistant Secretary, CBSE Recruitment Examination, Tier 2 (RAS-1124), Academics and Training, Economics

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No. of Printed Pages : 7


RAS-1124                                                                 •ŸÈ∑˝§◊Ê¥∑§
                                                                            Roll No.

                                                           ATS
                                            Economics / •Õ¸‡ÊÊSòÊ
                                           Question Paper / ¬˝‡Ÿ-¬òÊ
Time allowed : Three Hours                                                                                Maximum Marks : 320
‚◊ÿ — ÃËŸ ÉÊ¥≈U                                                                                          •Áœ∑§Ã◊ •¥∑§ — 320
Question Paper may be detached which can be taken away by the candidate after examination.
¬˝‡Ÿ-¬òÊ •‹ª (ÁflÿÊíÿ) Á∑§ÿÊ ¡Ê ‚∑§ÃÊ „Ò •ÊÒ⁄U ¬⁄UˡÊÊÕ˸ ¬⁄UˡÊÊ ∑§ ©¬⁄Uʥà •¬Ÿ ‚ÊÕ ‹ ¡Ê ‚∑§Ã „Ò¥–

                                                    Part ‘A’ / π¥«U “•”
Part ‘A’ has 15 questions. All questions are compulsory. Each question carries 2 marks.
π¥«U “•” ◊¥ 15 ¬˝‡Ÿ „Ò¥, ÿ ‚÷Ë ¬˝‡Ÿ •ÁŸflÊÿ¸ „Ò¥– ¬˝àÿ∑§ ¬˝‡Ÿ 2 •¥∑§ ∑§Ê „Ò–
1.    If X is a normal good and Y is a neutral good, the shape of indifference curve would be vertical.
      (True/False)
      ÿÁŒ X ∞∑§ ‚Ê◊Êãÿ flSÃÈ •ÊÒ⁄U Y ∞∑§ ÁŸ⁄U¬ˇÊ flSÃÈ „Ò ÃÊ •ŸÊÁœ◊ÊŸ fl∑˝§ ∑§Ê •Ê∑§Ê⁄U ‹ê’flà „ÊªÊ– (‚„Ë/ª‹Ã)

2.    In case of inferior goods, the income effect dominates the substitution effect. (True/False)
      ÁŸc∑Χ≈U flSÃÈ ∑§ ‚¥Œ÷¸ ◊¥, •Êÿ ¬˝÷Êfl ¬˝ÁÃSÕʬŸ ¬˝÷Êfl ‚ íÿÊŒÊ „ÊÃÊ „Ò– (‚„Ë/ª‹Ã)

3.    Normally a monopolist operates in the Inelastic portion of the demand curve. (True/False)
      ‚Ê◊Êãÿ× ∞∑§ ∞∑§ÊÁœ∑§Ê⁄UË ◊Ê°ª fl∑˝§ ∑§ ’‹ÊøŒÊ⁄U Á„S‚ ¬⁄U ©à¬ÊŒŸ ∑§⁄UÃÊ „Ò– (‚„Ë/ª‹Ã)

4.    elnx = X (True/False)
      elnx = X (‚„Ë/ª‹Ã)

5.    If A and B are two independent events, then the probability of A and B i.e. P(AB)=P(A).P(B)
      (True/False)
      ÿÁŒ A ∞fl¥ B ŒÊ SflÃ¥òÊ ÉÊ≈UŸÊ∞° „¥Ò, ÃÊ A •ÊÒ⁄U B ∑§Ë ‚¥÷Ê√ÿÃÊ P(AB)=P(A).P(B) „Ò– (‚„Ë/ª‹Ã)

6.    Given the consumption function C = 100+.5Y, find the value of investment multiplier.
      ÿÁŒ ©¬÷Êª »§‹Ÿ C = 100+.5Y „Ò ÃÊ ÁŸfl‡Ê ªÈáÊ∑§ ∑§Ê ◊ÊŸ ÁŸ∑§ÊÁ‹∞–

7.    According to Marshall - Learner condition, if the sum of elasticity of demand for exports and
      import is greater than one, then the devaluation of domestic currency becomes beneficial.
      (True/False)
      ◊ʇʸ‹-‹ÊŸ¸⁄U ‡ÊÃÊZ ∑§ •ŸÈ‚Ê⁄U, ÿÁŒ ÁŸÿʸà ∞fl¥ •ÊÿÊà ∑§Ë ◊Ê°ª ‹Êø ∑§Ê ¡Ê«∏ ∞∑§ ‚ •Áœ∑§ „Ò ÃÊ ÉÊ⁄U‹È ◊ÈŒ˝Ê ∑§Ê •fl◊ÈÀÿŸ
      ‹Ê÷ŒÊÿ∑§ „ÊªÊ– (‚„Ë/ª‹Ã)

RAS-1124 / ATS                                                 1                                             Economics

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8.    Dumping implies selling of commodity in the export market at a price below the price prevailing in
      the domestic market. (True/False)
      ⁄UÊÁ‡Ê¬Êß ‚ ÃÊà¬ÿ¸ „Ò, ÉÊ⁄U‹È ’Ê$¡Ê⁄U ∑§Ë◊à ∑§Ë ÃÈ‹ŸÊ ◊¥ ÁŸÿʸà ’Ê¡Ê⁄U ◊¥ flSÃÈ ∑§Ê ∑§◊ ∑§Ë◊à ◊¥ ’øŸÊ– (‚„Ë/ª‹Ã)

9.    A proportional income tax acts as an automatic stabiliser mechanism of the economy.
      (True/False)
      ∞∑§ •ŸÈ¬ÊÁÃ∑§ •Êÿ∑§⁄U •Õ¸√ÿflSÕÊ ∑§ Á‹∞ SfløÁ‹Ã ÁSÕ⁄U∑§ ‚ÿ¥òÊáÊ ∑§ M§¬ ◊¥ ∑§Ê◊ ∑§⁄UÃÊ „Ò– (‚„Ë/ª‹Ã)

10.   In India, suppose the bank keeps 10% of their total demand and time liabilities as reserves and
      maintain 10% of the total demand and time liabilities with the RBI as Cash Reserve Ratio(CRR).
      Find the value of credit multiplier.
      ◊ÊŸ ‹ËÁ¡∞ Á∑§ ÷Ê⁄Uà ◊¥ ’Ò¥∑§Ê¥ mÊ⁄UÊ •¬Ÿ ∑ȧ‹ ◊Ê°ª ∞fl¥ ‚◊ÿ ŒŸŒÊ⁄UË ∑§ 10 ¬˝ÁÇÊà ŸªŒË ∑§ M§¬ ◊¥ ⁄UπÊ ¡ÊÃÊ „Ò •ÊÒ⁄U •¬Ÿ
      ∑ȧ‹ ◊Ê°ª ∞fl¥ ‚◊ÿ ŒŸŒÊ⁄UË ∑§ 10 ¬˝ÁÇÊà ŸªŒ ⁄UÁˇÊà •ŸÈ¬Êà (CRR) ∑§ M§¬ ◊¥ •Ê⁄U.’Ë.•Ê߸. ∑§ ¬Ê‚ ¡◊Ê ⁄UπÃ „¥Ò, ÃÊ
      ‚Êπ ªÈáÊ∑§ ∑§Ê ◊ÊŸ ÄÿÊ „ÊªÊ?

11.   In case of a private good, if there exists positive externality, the good is socially over produced or
      under produced ?
      ∞∑§ ÁŸÁ¡ flSÃÈ ∑§ ‚¥Œ÷¸ ◊¥, ÿÁŒ œŸÊà◊∑§ ’ÊsÃÊ∞° ¬˝Êåà „Ò ÃÊ, fl„ flSÃÈ ‚Ê◊ÊÁ¡∑§ M§¬ ‚ •Áà ©à¬ÊÁŒÃ ÿÊ •À¬ ©à¬ÊÁŒÃ
      „Ò?

12.   If the elasticity of supply is greater than elasticity of demand, the burden of a commodity tax will
      be more on consumer or more on seller ?
      ÿÁŒ ¬ÍÁø ∑§Ë ‹Êø ◊Ê°ª ∑§Ë ‹Êø ‚ •Áœ∑§ „Ò ÃÊ ∞∑§ flSÃÈ ¬⁄U ‹ªÊÿ ªÿ ∑§⁄U ∑§Ê ÷Ê⁄U ©¬÷ÊÄÃÊ ¬⁄U •Áœ∑§ ¬«∏ªÊ ÿÊ Áfl∑˝§ÃÊ
      ¬⁄U •Áœ∑§ ¬«∏ªÊ?

13.   Who gave the concept of “poverty-gap“ index ?
      “ª⁄UË’Ë-•¥Ã⁄UÊ‹ ‚Íø∑§Ê¥∑§” ∑§Ë •flœÊ⁄UáÊÊ Á∑§‚Ÿ ŒË „Ò?

14.   Given the Increamental Capital Output Ratio (ICOR) as 4 : 1, if the saving rate in the economy is
      28% , what would be the growth rate of GDP ?
      ÁŒÿ ªÿ flÎÁh◊ÊŸ ¬Í°¡Ë-©à¬ÊŒ •ŸÈ¬Êà (ICOR) 4 : 1 ◊¥ ÿÁŒ ∞∑§ •Õ¸√ÿflSÕÊ ◊¥ ’øà Œ⁄U 28% „Ò, ÃÊ ¡Ë.«UË.¬Ë. ∑§Ê flÎÁh
      Œ⁄U ÄÿÊ „ÊªÊ?

15.   In the economy, if the nominal rate of interest is 9% and the rate of inflation is 6%, what would be
      the real rate of interest ?
      ∞∑§ •Õ¸√ÿflSÕÊ ◊¥, ÿÁŒ •¥Á∑§Ã éÿÊ¡ ∑§Ë Œ⁄U 9% •ÊÒ⁄U ◊ÈŒ˝ÊÁS»§Áà ∑§Ë Œ⁄U 6% „Ò ÃÊ, flÊSÃÁfl∑§ éÿÊ¡ Œ⁄U ÄÿÊ „ÊªÊ?

RAS-1124 / ATS                                                  2                                              Economics

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                                                        Part ‘B’ / π¥«U “’”
Part ‘B’ has 25 questions. Out of which any 20 questions are to be answered. Each question carries
5 marks. The question may be answered in maximum 30 words.
π¥«U “’” ◊¥ 25 ¬˝‡Ÿ „Ò¥, Á¡Ÿ◊¥ ‚ Á∑§ã„Ë¥ 20 ¬˝‡ŸÊ¥ ∑§ ©ûÊ⁄U ŒŸ „Ò¥– ¬˝àÿ∑§ ¬˝‡Ÿ 5 •¥∑§ ∑§Ê „Ò– ¬˝‡Ÿ ∑§Ê ©ûÊ⁄U •Áœ∑§Ã◊
30 ‡ÊéŒÊ¥ ◊¥ ÁŒÿÊ ¡Ê ‚∑§ÃÊ „Ò–

16.   What is sampling error ?
      ¬˝ÁÃøÿŸ òÊÈÁ≈U ÄÿÊ „Ò?

17.   What is the difference between probability mass function and probability density function ?
      ‚¥÷Ê√ÿÃÊ Œ˝√ÿ◊ÊŸ »§‹Ÿ ∞fl¥ ‚¥÷Ê√ÿÃÊ ‚¥ÉÊŸÃÊ »§‹Ÿ ◊¥ ÄÿÊ •¥Ã⁄U „Ò?

18.   Using Prisoner’s Dilemma, establish the Nash equilibrium.
      ’¥ŒË ŒÈÁflœÊ ∑§ ©¬ÿÊª ‚ ŸÒ‡Ê ‚¥ÃÈ‹Ÿ ∑§Ë SÕʬŸÊ ∑§ËÁ¡∞–

19.   Analyse diagramatically the issue of imposing competitive price on natural monopoly.
      ¬˝Ê∑ΧÁÃ∑§ ∞∑§ÊÁœ∑§Ê⁄U ¬⁄U ¬˝ÁÃÿÊªË ∑§Ë◊à fl‚È‹Ÿ ∑§ Áfl·ÿ ∑§Ë ⁄UπÊÁøòÊ ∑§Ë ‚„ÊÿÃÊ ‚ ÁflfløŸÊ ∑§⁄¥U–

20.   What do you understand by the Kaldor-Hicks compensation criterion ?
      ∑§Ê‹«UÊ⁄U-Á„Ä‚ ˇÊÁìÍÁûʸ •Ê¥∑§‹Ÿ ‚ •Ê¬ ÄÿÊ ‚◊¤ÊÃ „Ò¥?

21.   Using suitable notations, explain the concept of “Balanced Budget Multiplier”.
      ©¬ÿÈÄà ‚◊Ë∑§⁄UáÊÊ¥ ∑§Ë ‚„ÊÿÃÊ ‚ ““‚¥ÃÈÁ‹Ã ’¡≈U ªÈáÊ∑§”” ∑§Ë •flœÊ⁄UáÊÊ ∑§Ê fláʸŸ ∑§⁄¥U–

22.   Explain the concept of “ Wait Unemployment” with suitable diagram.
      ©¬ÿÈÄà ⁄UπÊÁøòÊ ∑§Ë ‚„ÊÿÃÊ ‚ ““¬˝ÃˡÊÊ⁄Uà ’⁄UÊ¡ªÊ⁄UË”” ∑§Ë •flœÊ⁄UáÊÊ ∑§Ê fláʸŸ ∑§⁄¥U–

23.   Explain the concept of “Crowding out “ with suitable diagram.
      ©¬ÿÈÄà ⁄UπÊÁøòÊ ∑§Ë ‚„ÊÿÃÊ ‚ ∑˝§Ê©Á«¥Uª •Ê™§≈U (Crowding out) ∑§Ë •flœÊ⁄UáÊÊ ∑§Ê fláʸŸ ∑§⁄¥U–

24.   Central Bank is the lender of last resort - Comment.
      ∑§ãŒ˝Ëÿ ’Ò¥∑§ •¥ÁÃ◊ ´§áÊŒÊÃÊ „ÊÃÊ „Ò - Á≈Uå¬áÊË ∑§⁄¥U–

25.   Distinguish between commercial bank and non-bank financial intermediaries.
      √ÿfl‚ÊÁÿ∑§ ’Ò¥∑§ ∞fl¥ ªÒ⁄U-’Ò¥Á∑¥§ª ÁflûÊËÿ ◊äÿflÃ˸ ‚¥SÕÊ•Ê¥ ∑§ ’Ëø •ãÃ⁄U S¬c≈U ∑§⁄¥U–

26.   Write a short note on SEBI.
      ‚’Ë (SEBI) ¬⁄U ∞∑§ ‚¥ÁˇÊåà Á≈Uå¬áÊË ∑§⁄¥U–

27.   Prove that (AB)−1 = B−1 A−1
      ¬˝◊ÊÁáÊà ∑§⁄¥U Á∑§ (AB)−1 = B−1 A−1

RAS-1124 / ATS                                                    3                                            Economics

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28.   Differentiate between open input-output and closed input-output models.
      πÈ‹Ê •ÊªÃ-ÁŸª¸Ã ∞fl¥ ’㌠•ÊªÃ-ÁŸª¸Ã ◊ÊÚ«U‹Ê¥ ∑§ ’Ëø •ãÃ⁄U S¬c≈U ∑§⁄¥U–

29.   Explain the concept of positive externality.
      œŸÊà◊∑§ ’ÊsÃÊ∞° ∑§Ë •flœÊ⁄UáÊÊ ∑§Ê fláʸŸ ∑§⁄¥U–

30.   Distinguish between ‘Fiscal Deficit’ and ‘Primary Deficit’.
      “⁄UÊ¡∑§Ê·Ëÿ ÉÊÊ≈UÊ” ∞fl¥ “¬˝ÊÕÁ◊∑§ ÉÊÊ≈UÊ” ∑§ ’Ëø •ãÃ⁄U S¬c≈U ∑§⁄¥U–

31.   What are “Merit Goods” ?
      ªÈáÊË (Merit) flSÃÈ∞° ÄÿÊ „Ò¥?

32.   Explain the concept of green investment in the context of Foreign Direct Investment.
      ÁflŒ‡ÊË ¬˝àÿˇÊ ÁŸfl‡Ê ∑§ ‚¥Œ÷¸ ◊¥ ª˝ËŸ ÁŸfl‡Ê ∑§Ë •flœÊ⁄UáÊÊ ∑§Ê fláʸŸ ∑§⁄¥U–

33.   Explain the concept of ‘Hedging’ in the market for foreign exchange.
      ÁflŒ‡ÊË ◊ÈŒ˝Ê ’Ê¡Ê⁄U ◊¥ “¬˝ÁÃ⁄UˇÊáÊ” ∑§Ë •flœÊ⁄UáÊÊ ∑§Ê fláʸŸ ∑§⁄¥U–

34.   What is gender development index ?
      ¡¥«U⁄U Áfl∑§Ê‚ ‚Íø∑§Ê¥∑§ ÄÿÊ „Ò?

35.   Explain the concept of ‘creative destruction’.
      “‚¡¸ŸÊà◊∑§ ÁflŸÊ‡Ê” ∑§Ë •flœÊ⁄UáÊÊ ∑§Ê fláʸŸ ∑§⁄¥U–

36.   Write a short note on FRBM Act.
      ∞»§.•Ê⁄U.’Ë.∞◊. ∞Ä≈U ¬⁄U ∞∑§ ‚¥ÁˇÊåà Á≈Uå¬áÊË Á‹π¥–

37.   Distinguish between vertical and horizontal devolution of center’s tax revenue.
      ∑§ãŒ˝ ∑§ ∑§⁄U •Êª◊ ∑§ ™§äfl¸SÃ⁄U ∞fl¥ ‚◊SÃ⁄U •Ê’¥≈UŸ ∑§ ’Ëø •¥Ã⁄U S¬c≈U ∑§⁄¥U–

38.   Outline the rationale of Minimum Support Price (MSP) for Indian farmers.
      ÷Ê⁄UÃËÿ Á∑§‚ÊŸÊ¥ ∑§ Á‹∞ ãÿÈŸÃ◊ ‚◊Õ¸Ÿ ◊ÍÀÿ ∑§Ë Áflfl∑§‡ÊË‹ÃÊ ∑§Ê ⁄UπÊ¥Á∑§Ã ∑§⁄U¥–

39.   What is Physical Quality of Life Index (PQLI) ?
      ¡ËflŸ SÃ⁄U ∑§Ê ÷ÊÒÁÃ∑§ ªÈáÊflûÊÊ ‚Íø∑§Ê¥∑§ (PQLI) ÄÿÊ „Ò?

40.   What is ‘Principal-Agent’ problem ?
      “Á¬˝¥Á‚¬‹-∞¡ã≈”U ‚◊SÿÊ ÄÿÊ „Ò?

RAS-1124 / ATS                                                      4                           Economics

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                                                   Part ‘C’ / π¥«U “‚”
Part ‘C’ has 12 questions. Out of which any 10 questions are to be answered. Each question carries
10 marks. The question may be answered in maximum 100 words.
π¥«U “‚” ◊¥ 12 ¬˝‡Ÿ „Ò¥, Á¡Ÿ◊¥ ‚ Á∑§ã„Ë¥ 10 ¬˝‡ŸÊ¥ ∑§ ©ûÊ⁄U ŒŸ „Ò¥– ¬˝àÿ∑§ ¬˝‡Ÿ 10 •¥∑§ ∑§Ê „Ò– ¬˝‡Ÿ ∑§Ê ©ûÊ⁄U •Áœ∑§Ã◊
100 ‡ÊéŒÊ¥ ◊¥ ÁŒÿÊ ¡Ê ‚∑§ÃÊ „Ò–
41.   Discuss the effectiveness of fiscal policy in various ranges of LM curve.
      ∞‹ ∞◊ fl∑˝§ ∑§Ë ÁflÁ÷㟠‚Ë◊Ê•Ê¥ ◊¥ ⁄UÊ¡∑§Ê·Ëÿ ŸËÁà ∑§Ë ¬˝÷Êfl‡ÊË‹ÃÊ ∑§Ë ÁflfløŸÊ ∑§ËÁ¡∞–
42.   The following information about an economy is given.
      Transaction and precautionary demand for money=0.5y
      Speculative demand for money=− 50 i
      The nominal supply of money=900
      Price level=3
      Consumption=200+0.75yd
      Investment=200−25i
      Taxes=300
      Transfer payments=100
      Government Expenditure=200
      y : income
      yd : Disposable income
      i:     rate of interest
      Find :
      (a) The equations for IS and LM curves
      (b) The equilibrium rate of interest and income
      (c) If the government expenditure is increased by 50, detrmine the new equilibrium of y and i
      (d) Determine the shift in IS curve.
      (e) If the government expenditure is accompanied by an equivalent increase in taxes, what will
             be the change in income ?
      ∞∑§ •Õ¸√ÿflSÕÊ ∑§ ’Ê⁄U ◊¥ ÁŸêŸÁ‹Áπà ¡ÊŸ∑§Ê⁄UË ŒË ªß¸ „Ò —
      ◊ÈŒ˝Ê ∑§Ë ÁflÁŸÁ◊ÿ ∞fl◊˜ ¬ÍflÊ¸¬Êÿ ◊Ê°ª=0.5y
      ◊ÈŒ˝Ê ∑§Ë ‚^Ê ©g‡ÿ ◊Ê°ª =−50 i
      ◊ÈŒ˝Ê ∑§Ë •¥Á∑§Ã ¬ÍÁø=900
      ∑§Ë◊à SÃ⁄U=3
      ©¬÷Êª=200+0.75yd
      ÁŸfl‡Ê=200−25i
      ∑§⁄U =300
      „SÃÊ¥Ã⁄UáÊ ÷ȪÃÊŸ=100
      ‚⁄U∑§Ê⁄UË √ÿÿ=200
      y : •Êÿ
      yd : ©¬÷Êª ÿÊÇÿ •Êÿ
      i:      éÿÊ¡ ∑§Ë Œ⁄U
      ©¬⁄UÊÄà ¡ÊŸ∑§Ê⁄UË ‚ ¬˝Êåà ∑§ËÁ¡∞ —
      (a) IS ∞fl◊˜ LM fl∑˝§Ê¥ ∑§Ê ‚◊Ë∑§⁄UáÊ
      (b) •Êÿ ∞fl◊˜ éÿÊ¡ ∑§Ë Œ⁄U ∑§Ê ‚¥ÃÈ‹Ÿ
      (c) ÿÁŒ ‚⁄U∑§Ê⁄UË √ÿÿ 50 ’…∏ ¡ÊÃÊ „Ò, ÃÊ y •ÊÒ⁄U i ∑§Ë Ÿß¸ ‚¥ÃÈ‹Ÿ SÃ⁄U ∑§Ê ÁŸœÊ¸⁄UáÊ ∑§ËÁ¡∞–
      (d) IS fl∑˝§ ◊¥ ’Œ‹Êfl ∑§Ê ÁŸœÊ¸⁄UáÊ
      (e) ÿÁŒ ‚⁄U∑§Ê⁄UË √ÿÿ ◊¥ flÎÁh ∑§ ’⁄UÊ’⁄U ∑§⁄U ◊¥ flÎÁh ∑§Ë ¡Ê∞ ÃÊ •Êÿ ◊¥ ÄÿÊ ¬Á⁄UflûʸŸ „ÊªÊ?

RAS-1124 / ATS                                                5                                           Economics

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43.   Trade-FDI nexus has not succeeded in India as much as in East Asia. Discuss.
      √ÿʬÊ⁄U-∞»§ «UË •Ê߸ ª∆U¡Ê«∏ ÷Ê⁄Uà ◊¥ ©ÃŸÊ ‚»§‹ Ÿ„Ë¥ „È•Ê Á¡ÃŸÊ ¬Ífl¸ ∞Á‡ÊÿÊ ◊¥ - ÁflfløŸÊ ∑§ËÁ¡∞–

44.   Two boxes contain black and red balls. Suppose box I contains 2 red and 2 black balls and box II
      contains 2 red and 4 black balls. One ball is transferred from box I to another, then one ball is
      selected from box II at random, if it turns out to be black, what is the probability that the transferred
      ball was red ?
      ŒÊ Á«Ué’Ê¥ ◊¥ ∑§Ê‹Ê ∞fl◊˜ ‹Ê‹ ª¥Œ „¥Ò– ◊ÊŸ ‹Ê Á«Ué’Ê Ÿ¥. I ◊¥ 2 ‹Ê‹ ∞fl◊˜ 2 ∑§Ê‹Ë ª¥Œ¥ „¥Ò ÃÕÊ Á«Ué’Ê Ÿ¥. II ◊¥ 2 ‹Ê‹ ∞fl◊˜
      4 ∑§Ê‹Ë ª¥Œ „¥Ò– Á«Ué’ I ‚ ∞∑§ ª¥Œ Á«Ué’ ◊¥ ’Œ‹Ë ¡ÊÃË „Ò, ÃଇøÊà ∞∑§ ª¥Œ ÿÊŒÎÁë¿U∑§ M§¬ ‚ Á«Ué’ II ‚ øÈŸË ¡ÊÃË „Ò–
      ÿÁŒ ÿ„ ª¥Œ ∑§Ê‹Ë ÁŸ∑§‹ÃË „Ò ÃÊ ß‚∑§Ë ÄÿÊ ‚ê÷ÊflŸÊ „Ò Á∑§ ’Œ‹Ë ªß¸ ª¥Œ ‹Ê‹ ÕË?

45.   U = min (x, 4y)
      Derive the demand functions for x and y.
      ÿÁŒ U = min (x, 4y)
      x ÃÕÊ y ∑§ Á‹∞ ◊Ê°ª »§‹Ÿ ÁŸ∑§ÊÁ‹∞–

46.   Compare perfect competition and monopoly, using suitable diagram. Also highlight the social cost
      of monopoly in the same diagram.
      ©¬ÿÈÄà ⁄UπÊÁøòÊ ∑§Ë ‚„ÊÿÃÊ ‚ ¬Íáʸ ¬˝ÁÃÿÊÁªÃÊ ∞fl◊˜ ∞∑§ÊÁœ∑§Ê⁄U ◊¥ ÃÈ‹ŸÊ ∑§ËÁ¡∞– ß‚Ë ⁄UπÊÁøòÊ ∑§Ê ¬˝ÿÊª ∑§⁄UÃ „È∞
      ∞∑§ÊÁœ∑§Ê⁄U ∑§Ë ‚Ê◊ÊÁ¡∑§ ‹ÊªÃ ∑§Ë √ÿÊÅÿÊ ∑§ËÁ¡∞–

47.   Using Isocost line and Isoquant curve, show that the Short Run Total Cost lies above the Long Run
      Total Cost.
      ‚◊-‹ÊªÃ ⁄UπÊ ÃÕÊ ‚◊-©à¬ÊŒ fl∑˝§ ∑§§§¬˝ÿÊª ‚ Œ‡Êʸßÿ Á∑§ •À¬∑§Ê‹ËŸ ∑ȧ‹ ‹ÊªÃ ŒËÉʸ∑§Ê‹ËŸ ∑ȧ‹ ‹ÊªÃ ‚ ™§¬⁄U
      „ÊÃË „Ò–

48.   Do you agree with the view that implementation of GST has redefined the Centre-State financial
      relations in India. Give reasons in support of your answer.
      ÄÿÊ •Ê¬ ß‚ ◊à ‚ ‚„◊à „¥Ò Á∑§ ¡Ë ∞‚ ≈UË ∑§ Á∑˝§ÿÊãflŸ Ÿ ÷Ê⁄Uà ◊¥ ∑¥§Œ˝-⁄UÊíÿ ÁflûÊËÿ ‚ê’ãœÊ¥ ∑§Ê ¬ÈŸ—¬Á⁄U÷ÊÁ·Ã Á∑§ÿÊ „Ò?
      •¬Ÿ ©ûÊ⁄U ∑§ ¬ˇÊ ◊¥ Ã∑¸§ ŒËÁ¡∞–

49.   Discuss key instruments of monetary policy in achieving its objective of price stability.
      ∑§Ë◊à ÁSÕ⁄UÃÊ ∑§ ©g‡ÿ ¬˝ÊÁåà „ÃÈ ◊ÊÒÁŒ˝∑§ ŸËÁà ∑§ ◊ÈÅÿ ©¬∑§⁄UáÊÊ¥ ∑§Ë ÁflfløŸÊ ∑§ËÁ¡∞–

50.   Explain the views of Erik Lindahl on pricing of social goods.
      ‚Ê◊ÊÁ¡∑§ flSÃÈ ∑§Ë ∑§Ë◊à ÁŸœÊ¸⁄UáÊ ◊¥ ߸Á⁄U∑§ ‹Ë¥«U‹ ∑§ ÁfløÊ⁄UÊ¥ ∑§Ë √ÿÊÅÿÊ ∑§ËÁ¡∞–

51.   Distinguish between Balanced and Unbalanced growth hypotheses.
      ‚¥ÃÈÁ‹Ã ∞fl◊˜ •‚¥ÃÈÁ‹Ã ‚¥flÎÁh ¬Á⁄U∑§À¬ŸÊ•Ê¥ ∑§ ◊äÿ Áfl÷Œ ∑§ËÁ¡∞–

52.   What are the major valuation methods for enviornmental goods ?
      ¬ÿʸfl⁄UáÊËÿ flSÃÈ•Ê¥ ∑§ ◊ÈÀÿ ÁŸœÊ¸⁄UáÊ ∑§Ë ÁflÁœÿÊ° ∑§ÊÒŸ-∑§ÊÒŸ ‚Ë „Ò?

RAS-1124 / ATS                                                    6                                                Economics

M    A        S       T   E   R       C     O   P   Y

                                                            Part ‘D’ / π¥«U “Œ”
Part ‘D’ has 5 questions. Out of which any 3 questions are to be answered. Each question carries
30 marks. The question may be answered in maximum 300 words.
π¥«U “Œ” ◊¥ 5 ¬˝‡Ÿ „Ò¥, Á¡Ÿ◊¥ ‚ Á∑§ã„Ë¥ 3 ¬˝‡ŸÊ¥ ∑§ ©ûÊ⁄U ŒŸ „Ò¥– ¬˝àÿ∑§ ¬˝‡Ÿ 30 •¥∑§ ∑§Ê „Ò– ¬˝‡Ÿ ∑§Ê ©ûÊ⁄U •Áœ∑§Ã◊
300 ‡ÊéŒÊ¥ ◊¥ ÁŒÿÊ ¡Ê ‚∑§ÃÊ „Ò–
53.   Using Pareto-optimality criterion analyse the efficiency of distribution of commodities and allocation
      of factors with suitable diagrams.
      ¬Á⁄U≈UÊ ÁflÁ‡Êc≈UÃÊ •Ê∑§‹Ÿ ∑§ •ŸÈ‚Ê⁄U ©¬ÿÈÄà ⁄UπÊÁøòÊÊ¥ ∑§ ¬˝ÿÊª ‚ flSÃÈ ÁflÃ⁄UáÊ ∞fl◊˜ ‚ÊœŸ •Ê’¥≈UŸ ∑§Ë ∑ȧ‡Ê‹ÃÊ ∑§Ê
      Áfl‡‹·áÊ ∑§ËÁ¡∞–
54.   Undoubtly, inflation is unjust and unemployment is undesirable - does there exist a trade-off between
      the two ? Explain by using suitable diagrams.
      ÁŸS¥‚Œ„, ◊ÈŒ˝ÊS»§ËÁà •ŸÈÁøà „Ò ÃÕÊ ’⁄UÊ¡ªÊ⁄UË •flÊ¥¿UŸËÿ „Ò - ÄÿÊ ßŸ ŒÊŸÊ¥ ∑§ ’Ëø ‚◊¥¡Ÿ „Ò? ©¬ÿÈÄà ⁄UπÊÁøòÊÊ¥ ‚
      Œ‡Êʸßÿ–
55.   Explain the Hecksher-Ohlin (HO) theory of International Trade. In the context of HO Model, describe
      the magnification effect.
      „ÒÄ‚ø⁄U-•Ê„Á‹Ÿ ∑§ •¥Ã⁄Uʸc≈˛UËÿ √ÿʬÊ⁄U ∑§ Á‚hʥà ∑§Ë √ÿÊÅÿÊ ∑§⁄¥U– ∞ø.•Ê. ◊ÊÚ«U‹ ∑§ ‚¥Œ÷¸ ◊¥ •àÿÁœ∑§ ¬˝÷Êfl ∑§Ê
      Áfl‡‹·áÊ ∑§ËÁ¡∞–
56.   Suppose the household maximises utilty
           U=f(Q1,Q2)
      S.t Y=P1 Q1+P2 Q2
      The resulting indirect utility functions turns out to be
                                                    2
                            1
       f * ( P1, P2 , Y )=Y 3 P1(   −1
                                      2+P
                                          −1
                                          2
                                            2
                                                )       3




      Derive the Langrange Multiplier λ* and the demand function Q 1* ( P1, P2 ,Y ) from the indirect
      utility function. Also, find the income elasticity of demand.
      ◊ÊŸ ‹Ê ªÎ„SÕ ∑§Ê •Áœ∑§Ã◊ ©¬ÿÊÁªÃÊ ∑§Ê »§‹Ÿ „Ò —
            U=f(Q1,Q2)
      ¡’Á∑§ Y=P1 Q1+P2 Q2
      ¬Á⁄UáÊÊ◊Ãÿ ¬⁄UÊˇÊ ©¬ÿÊÁªÃÊ »§‹Ÿ „Ò —
                                                    2
                            1
       f * ( P1, P2 , Y )=Y 3 P1(   −1
                                      2+P
                                          −1
                                          2
                                            2
                                                )       3




      ‹¥ª⁄¥U¡ ªÈáÊ∑§ λ* ∑§Ê √ÿÈà¬ãŸ ∑§⁄¥U ∞fl◊˜ ¬⁄UÊˇÊ ©¬ÿÊÁªÃÊ »§‹Ÿ ‚ Q 1* ( P1, P2,Y ) ◊Ê°ª »§‹Ÿ ÁŸ∑§Ê‹¥– ◊Ê°ª ∑§Ë •Êÿ ∑§Ë
      ‹Êø ∑§Ë ªáÊŸÊ ÷Ë ∑§ËÁ¡∞–
57.   State and explain the steady state growth model proposed by Robert Solow.
      ⁄UÊ’≈¸U ‚Ê‹Ê mÊ⁄UÊ ¬˝ÁìÊÁŒÃ ÁSÕ⁄U •flSÕÊ ‚¥flÎÁh ∑§ ◊ÊÚ«U‹ ∑§Ê ©À‹π ∞fl◊˜ √ÿÊÅÿÊ ∑§ËÁ¡∞–
                                                                 -o0o-


RAS-1124 / ATS                                                       7                                        Economics