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MH SET 2018: 28 January, Paper III, Economics

  • Date: 28 January 2018
  • Paper code: JAN11318
  • Series: A
  • Language: Bilingual
  • 40 pages
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Test Booklet Code & Serial No.
                                                                                                                    A
                                                                    Paper-III
Signature and Name of Invigilator                                                                Seat No.
1. (Signature) .........................................                                                  (In figures as in Admit Card)
      (Name) ................................................                    Seat No. ..............................................................
2. (Signature) .........................................                                                   (In words)

      (Name) ................................................                      OMR Sheet No.

JAN - 11318                                                                                         (To be filled by the Candidate)
Time Allowed : 2½ Hours]                                                                            [Maximum Marks : 150
Number of Pages in this Booklet : 40                                                   Number of Questions in this Booklet : 75
                     Instructions for the Candidates
1.        Write your Seat No. and OMR Sheet No. in the space provided            1.
          on the top of this page.
2.        This paper consists of 75 objective type questions. Each question
          will carry two marks. All questions of Paper-III will be compulsory,   2.
          covering entire syllabus (including all electives, without options).
3.        At the commencement of examination, the question booklet
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JAN - 11318/III—A




2
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JAN - 11318/III—A
                                ECONOMICS
                                   Paper III


                                                    III
Time Allowed : 2½ Hours]                            [Maximum Marks : 150
Note : This Question Paper contains Seventy Five (75) multiple choice questions.
       Each question carries Two (2) marks. Attempt All questions.
                               (75)                                          (2)



1.   The precision of OLS estimator is         1.
     measured by their :

     (A) Mean                                        (A)

     (B) Mode                                        (B)

     (C) Standard errors                             (C)

     (D) Sign                                        (D)

2.   Which one of the following is not a       2.
     part of classical assumptions, in
     regression analysis ?

     (A) Values taken by dependent                   (A)
         variable Y is fixed in repeated
         sampling

     (B) Regression model is linear in               (B)
         parameters

     (C) Error term has zero mean
                                                     (C)
     (D) Error term has a constant
         variance                                    (D)

                                           3                             [P.T.O.
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3.   If the estimated ˆ 2 is equal to the        3.   ˆ
                                                          2                                     2
     hypothesized 2, the ‘t’ value will be                               ‘ t’
     equal to :

     (A) 0                                            (A) 0

     (B) 1                                            (B) 1

     (C) 30                                           (C) 30

     (D) Standard error of ˆ 2                        (D) ˆ 2

4.   Which of the following are plausible
                                                 4.
     approaches to dealing with a model
     that exhibits ‘heteroscedasticity’ ?

     (i)   Take logarithms of each of the             (i)
           variables
                                                      (ii)
     (ii) Use suitably modified standard
           errors
                                                      (iii)
     (iii) Use generalised least squares
                                                      (iv)
           procedure

     (iv) Add logged values of the
           variables to the regression
                                                      (A)        (ii)           (iv)
           equations

     (A) (ii) and (iv) only                           (B)        (i)            (iii)

     (B) (i) and (iii) only
                                                      (C)        (i), (ii)              (iii)
     (C) (i), (ii) and (iii) only
                                                      (D) (i), (ii), (iii)              (iv)
     (D) (i), (ii), (iii) and (iv)
                                             4
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5.   Non-stationary time series is one                  5.
     with :

     (A) Time varying mean                                   (A)

     (B) Time varying variance                               (B)

     (C) Both (A) and (B)                                    (C) (A)         (B)

     (D) Time invariant mean and                             (D)
           variance

6.   What can you say about the                         6.
     following statements ?
                                                             (i)
     (i)   Cournot’s       duopoly          model
           assumes homogeneous product
           of producers.
                                                             (ii)
     (ii) Cournot assumes price of the
           rival producer constant.
                                                             (A)       (i)          (ii)
     (A) Both      statement         (i )    and
           statement (ii) are incorrect
                                                             (B)       (i)         (ii)
     (B) Both      statement         (i )    and
           statement (ii) are correct

     (C) Statement (i) is incorrect and                      (C)       (i)                 (ii)

           statement (ii) is correct

     (D) Statement (i) is correct and                        (D)       (i)                   (ii)

           statement (ii) is incorrect

                                                    5                                             [P.T.O.
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7.   In case Reserve Bank starts selling        7.


     government bonds, then :


     (A) LM curve shifts to the left                 (A) LM


     (B) LM curve becomes vertical                   (B) LM


     (C) LM curve becomes horizontal                 (C) LM


     (D) LM curve shifts to the right                (D) LM


8.   If the investment function becomes
                                                8.

     interest inelastic at a low rate of
                                                           IS
     interest, the corresponding IS curve


     becomes :                                       (A)


     (A) Horizontal
                                                     (B)

     (B) Upward sloping

                                                     (C)
     (C) Vertical


                                                     (D)
     (D) Flatter

                                            6
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9.   Statement I :                              9.          I :

     Oligopoly is a situation where a few
     large firms compete against each
     other.

     Statement II :                                         II :

     Under oligopoly there is an element
     of interdependence in the decision-
     making of competing firms.

     (A) Statement I is true but the                  (A)         I               II
         Statement II is false

     (B) Statement I is false but the                 (B)         I             II
         Statement II is correct

     (C) Both the Statement I and                     (C)         I      II
         Statement II are correct

     (D) Both the Statement I and                     (D)         I      II
         Statement II are false

10. Monopoly power refers to the :              10.
     (A) Restraints imposed by the
                                                      (A)
         competitors on each other
                                                      (B)
     (B) Restraints     imposed     over
         competitors by the price maker

     (C) Restraints imposed on the                    (C)
         quantity of production by each
         other
                                                      (D)
     (D) Restraints imposed on prices of
         production of each other
                                            7                                    [P.T.O.
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11. Offshore currency deposits are                            11.


    usually referred to as :


    (A) Euro bonds                                                  (A)


    (B) Euro currencies                                             (B)


    (C) Euro banks                                                  (C)


    (D) Euro deposits                                               (D)


12. According to the Product Cycle                            12.

    Hypothesis, innovation leads to


    ................................ for the innovating


    country.

                                                                    (A)
    (A) absolute monopoly

                                                                    (B)
    (B) relative monopoly

                                                                    (C)
    (C) temporary monopoly


    (D) long-term monopoly                                          (D)

                                                          8
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13. Hedging refers to :                      13.


    (A) The acceptance of foreign
                                                   (A)

        exchange risk
                                                   (B)
    (B) The   covering    of   foreign


        exchange risk

                                                   (C)
    (C) Foreign exchange arbitration


    (D) Foreign exchange speculation               (D)


14. Name the Economist represented           14.

    United States at the Bretton Woods


    Conference :
                                                   (A)
    (A) Marriner S. Eccles

                                                   (B)
    (B) Paul A. Samuelson

                                                   (C)
    (C) John Maynard Keynes


    (D) Harry Dexter White                         (D)

                                         9                          [P.T.O.
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15. Statement I :                              15.         I :

    Prior to Greek debt crisis, many
    German banks helped finance
    Greece’s debt and Greece knew
    very well that the IMF and the
    Western States would have to use
    bailout funds to bear the lost of
    Greece’s failure.

    Statement II :                                         II :

    The idea of single currency market
    had an unrealistic assumption of
    perfect information and ignored
    that in real world information is
    imperfect.
                                                     (A)             I    II
    (A) Both the Statements I and II
        are correct and Statement II is                              II         I

        the reason for Statement I

    (B) Both the Statements I and II                 (B)             I    II
        are correct and Statement I is                               I         II
        the reason for Statement II

    (C) Both the Statements I and II
                                                     (C)             I    II
        are correct but no statement is
        reason to the other

    (D) Statement I is correct but
        Statement II cannot be the                   (D)         I                  II

        reason for Statement I                                   I

                                          10
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16. The upper and lower Minimum                  16.                    31-12-2013
    Wage Rates which are applicable
    for Agricultural labourers fixed
    by the Central Government as on
    31-12-2013 were :
                                                       (A)   465.00      186.00
    (A) Rs. 465.00 and Rs. 186.00
    (B) Rs. 437.00 and Rs. 165.00                      (B)   437.00      165.00

    (C) Rs. 439.00 and Rs. 195.00                      (C)   439.00      195.00

    (D) Rs. 432.00 and Rs. 188.00                      (D)   432.00      188.00
17. Which one of the following is not the        17.
    salient feature of the APMC Model                                  2003
    Act, 2003 ?
    (A) Permission to farmers to
        establish new markets in any                   (A)
        area.
    (B) No compulsion to farmers to sell               (B)
        their produce through existing
        regulated markets.
    (C) Setting up of farmers-
        consumer markets for direct                    (C)
        sale.
    (D) To facilitate processing at the
                                                       (D)
        place of marketing and promote
        exports.
18. In Indian agriculture farm size and          18.
    productivity show :
    (A) Inverse relationship                           (A)
    (B) Positive relationship                          (B)
    (C) Neither inverse nor positive
                                                       (C)
        relationship
                                                       (D)
    (D) Fluctuating relationship
                                            11                                    [P.T.O.
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19. What can you say about the                             19.
    following statements ?
                                                                 (i)
    (i)   NABARD was established in
          July 1982 for taking over the
          functions       of    Agricultural                            1982
          Refinance and Development
                                                                 (ii)
          Corporation (ARDC).

    (ii) NABARD extends refinancing
          facilities to all scheduled banks                      (A)           (i)                   (ii)
          in India.

    (A) Statement (i) is correct and
          statement (ii) is incorrect                            (B)           (i)                   (ii)

    (B) Statement (i) is incorrect and
          statement (ii) is correct                              (C)            ( i)         (ii)
    (C) Both the statements (i) and (ii)
          are correct
                                                                 (D)            ( i)         (ii)
    (D) Both the statements (i) and (ii)
          are incorrect

20. As per the views of the National                       20.
    Advisory Council, the food security                          2013
    legislation 2013 was expected to
    cover ........................... population of
    country.
                                                                 (A) 68
    (A) 68 percent

    (B) 75 percent                                               (B) 75

    (C) 83 percent                                               (C) 83

    (D) 89 percent                                               (D) 89
                                                      12
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21. What can you say about the                 21.


   following statements ?
                                                     (i)

   (i)   Planning Commission in India


         was a statutory body.
                                                     (ii)

   (ii) Finance Commission in India is


         a permanent advisory body.
                                                     (A)    (i)                 (ii)
   (A) Statement (i) is correct and


         statement (ii) is incorrect

                                                     (B)    (i)             (ii)
   (B) Statement (i) is incorrect and


         statement (ii) is correct

                                                     (C)    (i)          (ii)
   (C) Both the statements (i) and (ii)


         are correct


                                                     (D)    (i)          (ii)
   (D) Both the statements (i) and (ii)


         are incorrect

                                          13                                    [P.T.O.
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22. What can you say about the                   22.
    following statements ?
                                                       (i)
    (i)   The share of rural incomes in
          India’s GDP is falling during
          recent time.
                                                       (ii)
    (ii) The share of organized sector in
          India’s GDP is rising during
          recent time.
                                                       (A)    (i)       (ii)
    (A) Both (i) and (ii) statements are
          incorrect
                                                       (B)    (i)                (ii)
    (B) Statement (i) is correct and
          statement (ii) is incorrect

    (C) Both (i) and (ii) statements are               (C)    (i)      (ii)

          correct

    (D) Statement (i) is incorrect and                 (D)    (i)              (ii)

          statement (ii) is correct

23. Global warming in the world is               23.
    majorly due to :

    (A) Hot Summers                                    (A)

    (B) Green-house Effects                            (B)

    (C) Erratic Summers                                (C)

    (D) Irregular Monsoons                             (D)
                                            14
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24. Tarapore Committee was associated             24.

    with which one of the following ?

    (A) Special Economic Zones                          (A)

    (B) Full      Capital        Account                (B)

        Convertibility of Rupee

    (C) Foreign Exchange Reserves                       (C)

    (D) Effect of oil prices on the Indian              (D)

        Economy

25. Fill in the blanks :                          25.

     Census of       Literacy rate

       India              in India

                       (percentage)

        1991                 ?                                1991          ?

        2001                 ?                                2001          ?

        2011                 ?                                2011          ?

    (A) 52.2       64.8          74.1                   (A) 52.2     64.8       74.1

    (B) 50.1       62.0          70.3                   (B) 50.1     62.0       70.3

    (C) 55.5       65.5          76.7                   (C) 55.5     65.5       76.7

    (D) 54.2       66.8          76.1                   (D) 54.2     66.8       76.1

                                             15                                   [P.T.O.
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26. While production goes on, the                26.
    Marginal Fixed Cost (MFC) is
    always :
                                                       (A)
    (A) rising
                                                       (B)
    (B) falling
                                                       (C)
    (C) negative
    (D) zero                                           (D)

27. The book “Value and Capital” is              27.
    authored by :
    (A) Tapas Majumdar                                 (A)

    (B) R.G.D. Allen                                   (B)

    (C) J.R. Hicks                                     (C)

    (D) Joan Robinson                                  (D)

28. (i)   An individual labour invariably        28. (i)
          shows backward bending supply
          curve.
                                                       (ii)
    (ii) Supply of labour to an industry
         shows high elasticity.
    What can you say of these
    statements ?                                       (A)    (i)      (ii)
    (A) Both statements (i) and (ii) are
        correct
                                                       (B)    (i)       (ii)
    (B) Both statements (i) and (ii) are
        incorrect
                                                       (C)    (i)              (ii)
    (C) Statement (i) is incorrect and
        statement (ii) is correct
    (D) Statement (i) is correct and                   (D)    (i)                (ii)
        statement (ii) is incorrect
                                            16
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29. In the long-run profit maximising           29.

    firm will choose to exit a market

    when :


    (A) Fixed costs exceed sunk costs                 (A)


    (B) Average fixed cost is rising                  (B)


    (C) Total Revenue (TR) from                       (C)

           production is less than Total                    (TR)       (TC)

           Cost (TC)


    (D) Marginal cost is above average                (D)

           cost


30. Demand for factors of production            30.

    is :


    (A) Derived demand                                (A)


    (B) Joint demand                                  (B)


    (C) Cross demand                                  (C)


    (D) Net demand                                    (D)

                                           17                                 [P.T.O.
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31. Rigid money wage in complete                   31.
    Keynesian model generates :

    (A) Downward sloping aggregate
         supply curve

    (B) Upward sloping aggregate                         (A)

         supply curve
                                                         (B)
    (C) Vertical aggregate supply curve
                                                         (C)
    (D) Horizontal aggregate supply
         curve                                           (D)

32. Choose the right answer from the               32.
    options A to D given below :
                                                               (S) :
    Assertion (S) :

    In   the     classical   model,     no
    equilibrium      other   than     full-
                                                               (R) :
    employment is possible.

    Reasoning (R) :

    This is ensured by a positively sloped
    AS curve and a negatively sloped                     (A)      (S)        (R)

    AD curve.

    (A) (S) is correct and (R) is correct                (B)      (S)                (R)

    (B) (S) is correct and (R) is incorrect

    (C) (S) is incorrect and (R) is correct              (C)      (S)              (R)

    (D) (S) is incorrect and (R) is
         incorrect                                       (D)      (S)          (R)

                                              18
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33. In Mundell Fleming open economy              33.
    model, if exchange rate is flexible,
    then fiscal policy is a failure
    because :
                                                       (A)
    (A) Balance of payments is in
        deficit, currency depreciates and
        net exports go up
                                                       (B)
    (B) Balance of payments is in
        deficit, currency appreciates and
        net exports go down
                                                       (C)
    (C) Balance of payments is in
        surplus, currency appreciates
        and net exports go down

    (D) Balance of payments is in                      (D)

        surplus, currency depreciates
        and net exports go down

34. Which one of the following is not a          34.
    determinant of money multiplier in
    an economy ?
                                                       (A)
    (A) Currency to Deposit ratio
                                                       (B)
    (B) Excess reserve ratio
                                                       (C)
    (C) Required cash reserve ratio

    (D) Consumption to currency ratio                  (D)

                                            19                          [P.T.O.
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35. Duesenberry’s relative income                35.
   hypothesis rests on the assumption
   that utility function of an individual
   is influenced by :

   (A) Average consumption of the
       economy                                         (A)

   (B) Marginal consumption of the                     (B)
       economy
                                                       (C)
   (C) Only      lowest        value   of
       consumption of the economy
                                                       (D)
   (D) Only      highest       value   of
       consumption of the economy

36. Prof. Gunnar Myrdal combines                 36.
   national and international forces to
   discuss    process     of    economic
   development on the basis of :

   (A) Export and import potential

   (B) Backwash effects and spread
                                                       (A)
       effects
                                                       (B)
   (C) Income inequalities in the
       economy
                                                       (C)
   (D) Demand and supply forces in
                                                       (D)
       the economy
                                            20
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37. According to Prof. Higgins the use                      37.

    of different production functions in

    advanced sector and traditional

    sector     of    an     underdeveloped

    economy is referred as .........................

    dualism.

                                                                  (A)
    (A) Financial

                                                                  (B)
    (B) Social


    (C) Technical                                                 (C)


    (D) Credit                                                    (D)


38. The concept of Physical Quality of                      38.                 (PQLI)

    Life Index (PQLI) was developed

    by :


    (A) S. Kuznet                                                 (A)


    (B) R. Nurkse                                                 (B)


    (C) Arthur Lewis                                              (C)


    (D) M.D. Morris                                               (D)

                                                       21                          [P.T.O.
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39. ............................. techniques tend to        39.

      accelerate the rate of capital

      formation and maximum productive

      capacity and employment in the

      long-run in developing countries like

      India.
                                                                  (A)

      (A) Capital intensive
                                                                  (B)
      (B) Labour intensive
                                                                  (C)
      (C) Appropriate technology

      (D) Intermediate technology                                 (D)


40. The Gini coefficient provides a                         40.

      measure of :

      (A) The level of poverty
                                                                  (A)
      (B) The level of relative income

           inequality                                             (B)

      (C) The        level     of     disguised
                                                                  (C)
           unemployment

                                                                  (D)
      (D) The level of economic growth

                                                       22
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41. Tax buoyancy is measured as a                 41.

    ratio of :


    (A) Growth in tax revenue to the                    (A)

           growth in GDP


    (B) Growth in non-tax revenue to                    (B)

           the growth in gross tax revenue


    (C) Growth in revenue to growth in                  (C)

           total expenditure


    (D) Growth in total expenditure to                  (D)

           growth in GDP


42. ‘Shifting of tax’ is seen in case of          42.

    ............................. taxes.


    (A) Direct                                          (A)


    (B) Indirect                                        (B)


    (C) International                                   (C)


    (D) Local                                           (D)

                                             23                          [P.T.O.
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43. The concept of ‘Zero Base Budget’           43.

    was first used in :

    (A) America                                       (A)

    (B) Australia                                     (B)

    (C) Germany                                       (C)

    (D) France                                        (D)

44. The fiscal deficit is not financed          44.
    through :

    (A) Proceeds from State Provident
                                                      (A)
           Fund
                                                      (B)
    (B) Treasury Bills
                                                      (C)
    (C) Dated Securities

    (D) Debt raised under Market                      (D)

           Stabilization Scheme

45. The proceeds collected under Article        45.

    271 of the constitution are retained
    by :

    (A) State Governments                             (A)

    (B) Union Government                              (B)

    (C) Urban Local Bodies                            (C)

    (D) Rural Local Bodies                            (D)
                                           24
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46. Statement I :                                46.         I :

    Initial phase of trade liberalisation
    in India led to an increase in
    employment opportunities.
                                                             II :
    Statement II :

    Later phase of trade liberalisation
    in India resulted into a Jobless
    growth.                                            (A)         I      II

    (A) Both the Statement I and
        Statement II are correct
                                                       (B)         I      II
    (B) Both the Statement I and
        Statement II are false
                                                       (C)         I               II
    (C) Statement I is true but the
        Statement II is false

    (D) Statement I is false but the                   (D)         I             II

        Statement II is correct

47. In the Balance of Payment accounts,          47.
    transfer payments are included in
    the :

    (A) Current Account                                (A)

    (B) Service Account                                (B)

    (C) Capital Account                                (C)

    (D) Official Resources Account                     (D)

                                            25                                    [P.T.O.
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48. To which of the following would the         48.
    mercantilists have objected ?

    (A) Free trade
                                                      (A)
    (B) Stimulating exports
                                                      (B)
    (C) Restricting imports
                                                      (C)
    (D) Accumulation of gold by their
                                                      (D)
        nation
                                                49.         I :
49. Statement I :

    International trade allows creation
    of an integrated market.

    Statement II :                                          II :

    The international market which
    emerges as a result of international
    trade distorts competition.
                                                      (A)         I               II
    (A) Statement I is true but the
        Statement II is false
                                                      (B)         I          II
    (B) Both the Statement I and
        Statement II are true
                                                      (C)         I                II
    (C) Statement I is false but the
        Statement II is true

    (D) Both the Statement I and                      (D)         I         II

        Statement II are false
                                           26
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50. Dumping occurs when :                        50.

    (A) Firm charges higher price on
        exports       than   it   charges
                                                       (A)
        domestically

    (B) Firm charges lower price
        domestically than it charges for               (B)

        exports

    (C) Firm charges lower price on
                                                       (C)
        exports       than   it   charges
        domestically
                                                       (D)
    (D) Firm charges different prices on
        exports in different countries

51. As per the RBI definition, money             51.
    supply with the public in India (M1)                     (M1)
    is defined as :

    (A) Currency with the public +
                                                       (A)          +
        Deposit money with the public

    (B) Currency with the public + Post
                                                       (B)              +
        office saving deposits

    (C) Notes and coins in circulation
                                                       (C)
    (D) Notes in circulation + demand
        deposits of banks                              (D)    +

                                            27                              [P.T.O.
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52. ............................... is the oldest stock        52.


      exchange in India.


      (A) NSE                                                        (A)


      (B) ASE                                                        (B)


      (C) BSE                                                        (C)


      (D) DSE                                                        (D)


53. In three-tier structure of co-operative                    53.

      credit institutions, the apex state


      level institution is :


      (A) RBI
                                                                     (A)

      (B) State Co-operative Bank
                                                                     (B)

      (C) NABARD
                                                                     (C)
      (D) District Central Co-operative

                                                                     (D)
            Bank

                                                          28
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54. In which situation qualitative               54.
    credit controls are effective in the

    economy ?
                                                       (A)
    (A) To control inflation
                                                       (B)
    (B) To control deflation

    (C) To control imports                             (C)

    (D) To control exports                             (D)

55. (i)   RRBs were initially established        55. (i)      1985
          in the year 1985 in India.

    (ii) RRBs are scheduled Banks.
                                                       (ii)
    What can you say about these

    statements ?

    (A) Both (i) and (ii) statements are

          wrong                                        (A)                 (i)    (ii)

    (B) Both (i) and (ii) statements are               (B)                 (i)   (ii)
          correct
                                                       (C)           (i)                     (ii)
    (C) Statement (i) is correct and

          statement (ii) is incorrect
                                                       (D)           (i)                     (ii)
    (D) Statement (i) is incorrect and

          statement (ii) is correct

                                            29                                           [P.T.O.
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56. India ranks at the ..........................        56.

     place in top producers of steel in the

     world.


     (A) 6th                                                   (A) 6


     (B) 4th                                                   (B) 4


     (C) 5th                                                   (C) 5


     (D) 7th                                                   (D) 7


57. Consequent to the ....................... the        57.

     concept of “dominant position” in

     industries was introduced in India.


     (A) SICA                                                  (A) SICA


     (B) Competition Act 2002                                  (B)


     (C) MRTP Act                                              (C)


     (D) Industrial Policy Resolution

           1956                                                (D)

                                                    30
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58. Rank, in the descending order of                     58.
    their intensity, the problems of

    industrial development in India
    during the planning period :
                                                               (i)
    (i)   regional imbalance
                                                               (ii)
    (ii) unemployment
                                                               (iii)
    (iii) poor export performance
                                                               (A) (i), (ii), (iii)
    (A) (i), (ii), (iii)

    (B) (ii), (iii), (i)                                       (B) (ii), (iii), (i)

    (C) (iii), (i), (ii)                                       (C) (iii), (i), (ii)

    (D) (ii), (i), (iii)                                       (D) (ii), (i), (iii)

59. As per the new classification of                     59.
    industries the micro-enterprises

    should have maximum investment

    of Rs. ..................... in manufacturing

    enterprises and Rs. ..................... in

    service enterprises respectively.
                                                               (A)      10       ,      5
    (A) Rs. 10 lakhs, Rs. 5 lakhs
                                                               (B)      15       ,      10
    (B) Rs. 15 lakhs, Rs. 10 lakhs

    (C) Rs. 25 lakhs, Rs. 10 lakhs                             (C)      25       ,      10

    (D) Rs. 20 lakhs, Rs. 15 lakhs                             (D)      20       ,      15

                                                    31                                           [P.T.O.
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60. Which of the following does not             60.
    take part in the money market
    transactions in India ?
                                                      (1)
    (1) Certificate of deposits
                                                      (2)
    (2) Commercial papers
                                                      (3) 90-
    (3) 90-days treasury bills
                                                      (4)
    (4) Mutual fund units
                                                      (A) (4)
    (A) (4)
                                                      (B) (3)
    (B) (3)
                                                      (C) (1)
    (C) (1)

    (D) (2)                                           (D) (2)

61. (i)   As per 2011 census, 51% of            61. (i)      2011                                51
          India’s population was urban.

    (ii) In USA, today about 78% of
                                                      (ii)      USA                      78
          population is urban.

    What can you say about these
    statements ?

    (A) Both statements (i) and (ii) are
                                                      (A)                 (i)    (ii)
          incorrect
                                                      (B)                 (i)   (ii)
    (B) Both statements (i) and (ii) are
          correct                                     (C)           (i)                   (ii)
    (C) Statement (i) is correct but
          statement (ii) is incorrect
                                                      (D)           (i)                 (ii)
    (D) Statement (i) is incorrect but
          statement (ii) is correct
                                           32
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62. As per 2011 census, India had                          62.         2011

    ....................... million plus cities and

    their total population accounted

    for ....................... of total urban

    population.


    (A) 57, 54%                                                  (A) 57, 54%

    (B) 51, 61%                                                  (B) 51, 61%

    (C) 53, 44%                                                  (C) 53, 44%

    (D) 44, 53%                                                  (D) 44, 53%

63. Population growth and economic                         63.

    development have close relationship

    is developed through the concept

    of :
                                                                 (A)
    (A) Demographic transition
                                                                 (B)
    (B) Optimum population

                                                                 (C)
    (C) Density of population

                                                                 (D)
    (D) Population trap

                                                      33                                  [P.T.O.
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64. As per the 2001 and 2011 census of                             64.                2001   2011

    India the urban : rural population

    ratio was .................... and ....................

    respectively.
                                                                         (A) 1 : 2.6, 1 : 2.2
    (A) 1 : 2.6, 1 : 2.2
                                                                         (B) 1 : 2.5, 1 : 2.0
    (B) 1 : 2.5, 1 : 2.0

                                                                         (C) 1 : 2.9, 1 : 2.3
    (C) 1 : 2.9, 1 : 2.3

                                                                         (D) 1 : 2.6, 1 : 2.9
    (D) 1 : 2.6, 1 : 2.9

65. Which is the correct descending                                65.         2011
    order of proportion of urban
    population in India as per 2011
    census ?

    (A) Tamil Nadu, Maharashtra,
          Gujrat
                                                                         (A)
    (B) Maharashtra, Tamil Nadu,
          Gujrat                                                         (B)
    (C) Tamil               Nadu,             Gujrat,
          Maharashtra                                                    (C)

    (D) Gujrat,                Tamil            Nadu,
          Maharashtra                                                    (D)

                                                              34
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66. In India, population employed                           66.

    in agriculture is approximately

    ...................... of total Indian workforce

    and agricultural exports are about

    ...................... of total exports.
                                                                  (A) 48%, 25%
    (A) 48%, 25%
                                                                  (B) 54%, 14%
    (B) 54%, 14%
                                                                  (C) 60%, 30%
    (C) 60%, 30%

                                                                  (D) 50%, 38%
    (D) 50%, 38%

67. Which one of the following is not an                    67.

    objective of National Food Security

    Mission (NFSM) ?

    (A) Distribution of High Yielding                             (A)

          Variety Seeds

    (B) Demonstration of improved

          production technology                                   (B)


    (C) Strengthening credit facilities
                                                                  (C)

    (D) Popularising newly varieties of
                                                                  (D)
          crops

                                                       35                                   [P.T.O.
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68. The classical book ‘Economics of                      68.

    Agricultural         Production         and

    Resource Use’ is written by :


    (A) G.E. Foster                                             (A)


    (B) W.W. Wilcox                                             (B)


    (C) T.W. Schultz                                            (C)


    (D) E.O. Heady                                              (D)


69. The percentage share of agriculture                   69.                             10

    and allied sectors to total outlay in
                                                                11      12

    India’s 10th, 11th and 12th five

    year plans was ...............................

    respectively.

                                                                (A) 22%, 20.7%, 18.1%
    (A) 22%, 20.7%, 18.1%

                                                                (B) 20%, 19.7%, 17.3%
    (B) 20%, 19.7%, 17.3%


    (C) 23%, 20.1%, 19.5%                                       (C) 23%, 20.1%, 19.5%


    (D) 23.3%, 20.9%, 20.1%                                     (D) 23.3%, 20.9%, 20.1%

                                                     36
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70. Which of the following rural schemes        70.

    merged with Swarna Jayanti Gram

    Swarojgar Yojana ?

    (A) TRYSEM and MNP                                (A) TRYSEM      MNP

    (B) DPAP and IRDP                                 (B) DPAP     IRDP

    (C) NREP and RLEGP                                (C) NREP      RLEGP

    (D) IRDP and TRYSEM                               (D) IRDP     TRYSEM

71. The total revenue (R) and total             71.                       (R)

    cost (C) functions of a firm are                      (C)

    given by :
                                                      R = 30Q – Q2 C = 20 + 4Q
    R = 30Q – Q2 C = 20 + 4Q

    What would be the equilibrium

    output of the firm ?

                                                      (A) 9
    (A) 9

                                                      (B) 13
    (B) 13

    (C) 17                                            (C) 17


    (D) 11                                            (D) 11

                                           37                                   [P.T.O.
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72. Non-negativity constraints in a            72.


    Linear Programming problem is


    represented as :


    (A) X     0 and Y   0                            (A) X   0   Y   0


    (B) X     0 and Y   0                            (B) X   0   Y   0


    (C) X     0 and Y   0                            (C) X   0   Y   0


    (D) X     0 and Y   0                            (D) X   0   Y   0


73. When the correlation coefficient           73.                       r = ±1

    r = ±1, then the two regression

    lines :


    (A) Are perpendicular to each other              (A)


    (B) Coincide                                     (B)


    (C) Are parallel to each other                   (C)


    (D) Indeterminate                                (D)

                                          38
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74. For accepting a null hypothesis, the                   74.

    computed value of a test statistic


    should be ............................ than the


    critical value.

                                                                 (A)
    (A) Greater

                                                                 (B)
    (B) Less


    (C) Superior                                                 (C)


    (D) Significant                                              (D)


75. To compute the area under a curve                      75.


    we use the concept of :


    (A) Differentiation
                                                                 (A)

    (B) Limits
                                                                 (B)

    (C) Integration
                                                                 (C)


    (D) Probability                                              (D)

                                                      39                          [P.T.O.
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ROUGH WORK




    40
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Source: Savitribai Phule Pune University. Question paper published by Savitribai Phule Pune University.