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MP SET 2024: State Eligibility Test, Economics

  • Language: Bilingual
  • 52 pages
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 1 of 52
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Wm
                                                                                                                                                     "S?.
                                                            RyP/P/2024/II                                                 Question Booklet No.


                                                        Subject-ECONOMICS
      SET              A                                                                   )
                                                                                                                24040B325
                                                              Paper II (Optional)
      'THT
                                                                |e*«l«4 ^ite-04
                                                               Subject-Cod0-O4
       Name
      37pilTre>
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       Roll No.                                                               Roll No.in the given boxes.

       ■gf^ci         ^ TPsTT/No. of Printed Pages: 46                                                      TT^n/Total No. of Questions: 100
       TPPI : 3            31^ ^ ■fStft'T                        ^             ^                               ^"Jilfe/Maximum Marks : 200
       Time Allowed: 3 Hours to complete both 1st and Ilnd question paper

                                                               udt        i        arrft                                         trait ^ i
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K9i J   ;V(SPACE FOR ROUGH WORK)




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51. Pi^^RnRao                                        51. Who among the following introduced the
            'mz arfror ^ 3T^?wr ^                          concept of Revealed Preference in the
                  «TT ?                                    consumer behaviour ?

       (A) k.(rii-a Hiifltri '                            (A) Alfred Marshall

       (B)          3TR.                                  (B) J. R. Hicks

       (C)          "a;.                                  (C) P. A. Samuelson

      (D)                                                 (D) Robertson

 52. 3T^ nMrrar ^                                    52. A firm under imperfect competition with
      "4'         "Wf ^ "51^ ■^-                          free entry of new firms operates in the
      ^iF? <^><dl t I.                                    long run with :

      (A) -?Tf^                                           (A) Loss

      (B) aWTPT                                           (B) Abnormal Profit

      (C)                  StT^^TOT                      _(C) Large excess capacity

      (D) H^TFT                                           (D) Normal profit
                                  <»


53.         hRi^IPicII "^FSTR ^ 3RFfe     Tfn^       53. Under perfectly competitive market, a
      41'^=hlQl       f^F#ffW W "qi ^                    firm over the long run operates at the
  , t :                                                  following level :

      (A)              ^          ^ -qr                  (A) Less than'optimum leyel

      (B) ?WT               -qr                          (B) Optimum level

      (C)             ^ ^                                (C) More than optimum level

      (D)                    ^ ^ ^                       (D) Forced to close down


(3)S/04/2024/A                                   1                                       P.T.O.
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                                                        54. The concept of inter-dependence among
54.
                                                              firms while taking decisions is a
                               fsffW H^-MH t ?
                                                              characteristic feature of which of the

      (A)                                                     following markets ?
                                                              (A) Monopoly
      (B) lyf "srMtor
                                                              (B) Perfect Competition
  ' (C) 3ic=qitaT
                                                              (C) Oligopoly
      (D)              yPd-iflnidi                            (D) Monopolistic Competition

55. W1?T fe[Rr 3T^, ^3cqT2[^ ^                          55. In the theory of cost, optimum level of
           f ^:                                             output is the one where ;                    i' /


      (A) AC = MC                                         '   (A) AC = MC
      (B) SAC = SMC = LAC = LMC                               (B) SAC = SMC = LAC = LMC
      (C) AC "PR T?T t  SMC < SAC                             (C) AC is falling and SMC < SAC
      (D) AC-^^        t cTSTTMOAC                            (D) AC is rising and MC > AC

56.               ^                                     56. Break-even point for a firm refers to that
            -iti "RR                                        level of output, where :

      (A)^ 5f[FFT = 1^                                        (A) Total Revenue = Fixed Cost
      (B) ^ 37m-= MRcltiHi^nd oTTO                            (B) Total Revenue = Variable Cost
      (C)                wm = -Rsr cim                        (C) Variable Cost = Fixed Cost

      (D)          eiMia =       37m                          (D) Total Cost == Total Revenue

57.            wm <i^MKH R)m ^                    ■^*   57. In case of a normal production function
         <irMKH cJ>T i^f[R           C"?^) "t :             optimum stage of production is :
                                                   1



         (A)      II^TRA* AP > MP                             (A) Stage I where AP > MP
         (B) ^OTn1^'AP<MP                                     (B) Stage n where AP < MP
         (C) WT m f^R?^' MP < 0                               (C) ^ Stage m where MP < 0

         (D)      IV 1^' MP 37^ t                             (D) Stage IV where MP is infinite

 (3)S/04/2024/A
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                                                                       58.' Producer's surplus in Micro Economics
        (a^iffem) ^ ^ T^' •Rfbrrfe 1^ ■sn
        ticftai I" :                                                        can be defined as : ■

        (A) [qshi (fqst)<H)^ ^ "RRf                      aTlTpT
                                                                           (A) Total Revenue fi-om sales
        (B) ^                (TC) ^ ^ awT                          ,                           ■           I ' ^
            (TR)           a#m                                             (B) Excess of TC over TR
        (C) ^ awT (TR) ^ ^ WlcT (TC)
                     a^Tto                       '   •                     (C) Excess of TR over TC
        (D)           aflFTR (TR) ^ MRc^cfH^iild
                                                                           (D) Excess of TR over variable costs
              WTcff        3TTf^

59. a^Tjuf ypd^lfTMl ^ aq;^ ■q^ "^ ^- 59./Excess, capacity.-of a .firm, under
        arf^^TOT                    t" :                                   imperfect competition refers to :         '
                                                                                                                     i



        (A)                         dlWlddi dcHKH                          (A) Excess of actual output over
              .aRTf^                                                            optimum level
        (B) vsm "a^w >i«TT di^ldch -acqiq?!
                                                                   '     ' (B) Gap between optimum - level of
              9f)T
                                                                                output and actual output
  ,     (C) arf^* ^ -m                                   a;Tf%^^
                                                                           (C) Overtime work'done by workers
            (aft^-'SFfR)
                                                                           (D) None of the above
       (D)             -4* ^ ^                   ■

60. ltd ^                 aT®7^ aif^cna*i                   Ijt    60. Pareto       laid   several   conditions    for

       nflf ^ a^^=fi ?f^                 iff I            adir             attaining optimum or maximum welfare.
       llrif iff        tfli         "t" I ltd                            ■ Many of such conditions are not realistic.
       ite^ ^ vm IT fefli                        itr^ iff                  Who propounded the theory of second
       l^rd ifcR8fifii               ?                                     best to replace Pareto optimality model ?
      • (A)           ^         .                                          (A) Kermeth Arrow

       (B) 371^.11.^.'                                                     (B) I.M.D. Little

       (C) 3TR' ^.' 1^ 11T                   d.                            (C) R. G Lipsey and K. J. Lancaster
       (D) d. fV*>d<Wi                                                    (D) T. Scitovsky

(3)S/04/2024/A                                                                                                 P.T.O.
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61.                                   $ 1100 cT«Tr          61.   When nominal GDP is $ 1100 .and real-

      qi'«ifq=ti              .dOHis $ 1000                       GDP is $ 1000, the GDP deflator vvill

      ^                       3Tw?ftfeTw im:                  ^ be:

      (A) 9.09                                                    (A) 9.09

      (B) 90.91                                                   (B) 90.91

      (C) 1.11                                                    (C) 1.11

      (D) 110.0                                                   (D) 110.0


62. rHMrdRdd                 ^                              62. Which of the following statements is -
                                                                  incorrect ?
 . t ?
                                                                  (A) The        ratio      of       consumption
      (A) 37FT ^ "qi                 ^ (C) ^                           expenditure (C) to income (Y)
                   (Y)                           qidi                  decreases         steadily     as   income
                                                                             \



            t I                                                        increases.

                                                                  (B) Consumption            expenditure      (C)
      (B) 3TR (Y)^                "OTltTT ^(C)
                                                                       increases less than proportionally
            ^i^HiRiqi            'q>q qcctl "§" I
                                                                       with increase in income (Y).

      (C)          '^*'%"OTq        "qi,"TOT wiW                  (C) Aggregate           consumption       varies
             ^iq-qlddl "qft 3M ^        3iq^8J                         indirectly         and       proportionally
                                                                       with consumer's income, ceteris
             sn^qrf^         ^-qfM^ Wit t I
                                                                       paribus.
      (D) ^^ wr-ai^                        (break
                                                                  (D) Break-even level of income occurs
             even)       Wit ^       Piq^il^ci "sqWi                   at which planned consumption is
             qi^q ■^* STT^       q<iq< WiT ^ I                         exactly equal to income.


(3)S/04/2024/A                                          4
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63.           A                  ^ -m                63. List A gives names of economists and

                                                          List B gives concept related with
             3T8knfePTt' ^                       ^
                                                          economists:
        ^t : •
                                                                List A              List B

             . "^A                                       (I) J. M,Clark      (a) Employment

       (I)         T^iT.       (a) ipm<                                           Multiplier

       (II) 3TR V^.            (b) "5:3^   1^ ^n?TH      (H) R. F. Kahn      (b) How to pay

                                                                                  for war

                                                         (III) J. M. Keynes (c) Business
       (III)       T^iT.       (c) o^TR^TTf^
                                                                                  Acceleration ■

                                   ^ ^ ^ f™                                       and Law of

                                   (1917)                                         Demand(1917)

                                                         (TV) Robert E.     (d) Expectations and
       (IV) ti^ t            (d)
                                                              Lucas              the Neutrality of
                                   cTS^ (1972) * '
                                                                                  Money(1972)

       ^ A ^^ B ^                      felH               Choose the correct match of List A and

                                                         List B :
       (A) I-(c), n-(a), in-(b), IV-(d)
                                                         (A) I.(c), n-(a), in-(b), IV-(d)
       (B) i-(a), n-(b), m-(c), iv.(d)
                                                         (B) i-(a), n-(b), ni-(c), iv-(d)
       (C) l-(b), II-(c), ni-(a), IV-(d)
                                                         (C) i-(b), n-(c), m-(a), iv-(d)       'I
       (D) I-(d), n-(b), III-(c), IV-(a)                 (D) I.(d), n-(b), in-(c), iv-(a)


(3)S/04/2024/A             ,                    '5'                                          P.T.O.
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64.           ^          M 3lk ^ ^                 64. Equation of LM-curve in terms of the
                                                         rate of interest (0 when money -supply
      KY-hi ii,                   (/) ^ ^
                                                         equals M and demand for money is
      LM ^^                    ^:
                                                         KY - hi will be :

      (A) i =(K/h)Y+Wh '
                                                     .   (A) i= (K/A)Y + M/A

      (B) i=z{K/h)Y-Wh                                   (B) i= (K/h)Y-Wh

      (C) i =(h/K)Y-h/U                                  (C) i= (h/K)Y-h/M

      (D) i'={h/K)Y + h/U                                (D) i= (h/K.)Y + h/M


65. ^THMw                                3?^       65. Which of the follovwng statements is

                                                         incorrect ?
      f?
                                                         (A) The IS curve is the schedule of
      (A) IS ^                 3^ 3TR ^
                                                              combinations of the interest rate and
                        ^ 3T3^ t           ^
                                                              levels of income such that the
           «ii^i< "^*       ^ i
                                                              goods market is in the equilibrium.
      (B) IS ^^^ 5tiuilcM4»                tI
                                                         (B) The IS curve is negatively sloped.
      (C) IS ^              ^         MPWcfH ^
                                                         (C) The IS curve is shifted by changes
           [qqfaa "^klT t" I
                                                              in autonomous spending.
      (D) "5^ ^
                                                         (D) The greater the multiplier and the
           ■qft^ ^ 3# M?T ^ ^
                                                              more sensitive investment spending
                         "^" ctiK"l IS qsh 3lfv^              is to change in the interest rate^ the
           "51^ slfli ^ 1                                     steeper the IS curve.


 (3)S/04/2024/A
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 9 of 52
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66. cliwftch                    (^•) ^           :         66.    The demand for real balances :
                                                                  (A) increases with the levels of real
      (A)                      3M-^* ^ ^«T             t
                                                                        income and increases with the
             ^ sqrsr--^ ^ ^                      f 1                    interest rate.
                                                                  (B) decreases with the levels of real
      (B) cil^pcie+i 3M-^* ^ ^«T                       t
                                                                        income and decreases with the
              clS!?T             ^ -^nsT         t I                    interest jate.-

      (C) ^THf^                      ^ ^8? -ETStit t             (C) decreases with the levels of real
                                                                        income and increases with the
              CTSIT ©HlMl-"^ ^ ^PT . qisnl ^ I                          interest rate.

      (D)                            ^                 f         (D) increases with the levels of real
                                                                        income and decreases with the
              ctqr               ^ WT •GTZTlt t' I
                                                                       interest rate.

67.           A                       cfKIT       B        67. List A gives concepts and List B gives
                               1^     "f* :                    expressions/equations :
              ^J^A                            "q^ B                     List A                  List B

      (I) qsT ^^                     (a) fw                      (I)   Transaction -       (a) Fisher effect
                                                                       velocity of
                                                                       money
      (II)                          (b>MV-=PT
                                                                 (II) Income velocity      (b) MV = PT
             ■nf^
                                                                       of money
      (HI)          wtfir ^ ^        (c) Mv=PY                   (HI) Relationship         (c) MV = PY
             4f^ CZP5T ^                                               between inflation

                                                                       rate and the nominal

      (IV)          ^           ^    (d)                               interest rate

         "             STTPT                                     (IV) Revenue from         (d) Seigniorage
                                                                       printing money
      ^ A                       B ^ ^ liran ^
      iPn? :                                                     Choose the correct match of List A and
                                                                 List B :
      (A) i-(c), n-(d), m-(b), iv-(a)
                                                                 (A) T-(c),n-(d), in-(b), IV-(a)
      (B) i-(d), n-(a), ra-(b), iv-(c)
                                                                 (B) i-(d), n-(a), ni-(b), iv-(c)
      (C) I-(b), II-(c), ra-(a), IV-(d)                          (C) I-(b), n-(c), ni-(a), IV:(d)
      (D) i-(a), n-(b), in-(c), iv-(d)                           (D) i-.(a), n-(b), m-(c), iv-(d)

(3)S/04/2024/A                                                                                       P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 10 of 52
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68.   yRiPMd
                                                           68. Which of the following statements is
                                                                   incorrect according to the classical
      "^'     ■^'I'l'yi             3T^I^ "I" ?
                                                                   economic theory ?
      (A)                     f I
                                                                   (A) Money is neutral.
      (B)                                       ^                  (B) Money supply does affect real
                     t I .                                              variables.


      (C) "SfM^cT Phc&i-^                             ^■           (C) Classical theory allows to study
                                                                        how real variables are determined
                                  di-wl^di "cfff ^ frtfe
                                                                        without any reference to the money
                                  di<di "I" 1
                                                                      ■ supply.
       (D)                "d^TT           "drf ^ "tef^             (D) The theoretical separation of real
                                       TTMw                             and nominal variables is called the

              chGQiial ^ I                                              classical dichotomy.


                                                               69. What is the appropriate order of phases
69. odNR-'d^*                 ■'dWf ^                 ^
                                                                    of business cycles ?
       t? .
                                                                    (A) Expansion,         Trough,   Peak,
       (A) fedR, ^                                                       Contraction


       (B) 1km<,              "-h'^^h,                ^             (B) Peak, Contraction, Expansion,
                                                                        ' Trough
              (^)         •
                                                                    (C) Trough, Contraction, Expansion,
       (C)           (^),
                                                                         Peak

        (D)                   l^nsR.        ^*^"^1,                 (D) Expansion, Peak, Contraction,
              C^)                                                        Trough


 (3)S/04/2024/A                                            8




                                                                                            ■1
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 11 of 52
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70.\                ye4ivii"t fenr                       70. Rational expectations theory is also

       ^ ^ ^STFTT ^ t I                                      known as :

       (A)                        teRT                       (A) Neo-classical theory

       (B) ^-^in^chd %5RT                                    (B) New-classical theory

       ■(C) ^-chir^^H feRT                                   (C) New-Keynesian theory

       (D)                       feRT                        (D) Neo-Keynesian theory


71.                             yPdJlHH % TricFTO. fel   71. In a simple linear regression which
       ^               "% "f^              ^KHII             assumption must hold true for the

       ^              ?                                      regression line to be valid ?

       (A)         (Error terms) ^ 1^WT                      (A) The      error   term has   constant
             #TT            I                                     variance.

       (B)                      ^                    i       (B) The errors are positively correlated.

       (C)                 HTpHdd (Nominal) "SITO            (C) The independent variable is nominal
                                                                  data.

       (D) -yf^ (Sample) ^ STRR ^ ^ 1                        (D) The sample size is small.

72. i^ ^PRTCT (^™) ^ fRte 3RnM                           72. In which sampling method, elements are

       R           yPd<!^h ^ d*iHI=b<ui (sampling)-           selected at a regular interval from a

                   311^ .11^ ^               t ?             population ?

                                                              (A) Simple Random Sampling
       (A) wr                   yPd<!^[d
                                                              (B) Stratified Random Sampling
       (B)             (stratified) "yfd^i^
                                                            ■ (C) Systematic Sampling
       (C)                "yfe#!
                                                              (D) Cluster Sampling
       (D)            yPd<tvlH

(3)S/04/2024/A                                                                                 p.T.b
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 12 of 52
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Wk




73. PlHRrlRdd                         yiP4=bdl               73. Which of the following is not a

      (Probability Sampling) 1^ff^               t" ?             probability sampling method ?

      (A)                   yPd^VlH                               (A) Simple Random Sampling

      (B) 3T«T?T (Quota) yPd^vfH                                  (B) Quota Sampling

      (C)          (Stratified) yRmsjI'i                          (C) Stratified Random Sampling

      (D)          yPd<!e[d                                       (D) Cluster Sampling'

74. PHHPdRdd        ^                                        74. Which of the following is a common

      ^ ^TFTFT          f ?           •                           method of statistical inference ?

      (A)                                                         (A) Data \^sualization

      (B) MR=b(ryHl                                               (B) Hypothesis Testing

      (C) ^ufHicHd,                                               (C) Descriptive Statistics

      P) aqfe                                                     (D) Data Collection

75.          yfdMHH ifeT "^f "TO-tn^"                        75. In the context of linear regression model,

            TRRrT ^RdT t ?                                        what does the Gauss-Markov Theorem

                                                                  state •?
      (A) OLS

            3idHHd) t I . .                                      , (A) The OLS estimator is the maximum

                                                                        likelihood estimator.
      (B)                       ■^* OLS
                                                                  (B) The OLS estimator is BLUE under
            ^ (Blue) ^ t I
                                                                       certain condition.
      (C) OLS                             ^
                                                                  (C) The OLS estimator is consistent
                      ^ f I
                                                                       only for large sample.
 .    (D) OLS 3T5RH^                      ifeqf ^ ^
                                                                ' (D) The OLS estimator minimises the
               "^RT ^RXdT       I
                                                                       sum of absolute errors.

(3)S/04/2024/A                                          10
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 13 of 52
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76.                          ^^                      76. What does 'station^ty' refer to in the
                                                                                                        I
      ^ 3T8f w t ? ■                                      context of time-series analysis ? -

      (A)                               w? ^
                                                          (A) The series h^ constant m^ and
            ^               ^f I
                                                               variance over time.

      (B)              "3?®^ '^*.     ti^sfl "51^
                                                          (B) The series shows a clear upward
       ••                   ^t I
                                                               ^d downward trend.
      (C)             "4*           "S^ ^
                                                          (C) The series contains seasonality.
            t 1

      (D)                                   itm           (D) The series has a non-constant


            ti    ■                                            variance.



77. W M 1WSTT ■^' i5RT5W^                            77. In 'analyris of time series, which plot is
                                                                                        '               \
                                                                             4 .



                                                          typically   used         to       visualise       the

      ^ wk                  ^ t ?                         autocorrelation function ?



      (A)                                                 (A) Histogram


      (B)                                                 (B) Q-Qplot


      (C)                                                 (C) ACFPlot


      (D) iq<a<tc» (Scatter) "^^Tfe                       (D) Schtter Plbt                              ,


(3)S/04/2024/A                                  11                                                      P.T.O,




                                                                                    I
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 14 of 52
Page 14 of 52
Text of page 14
78. The measure of dispersion, which is least

                                                                   affected by the presence of extreme
    ^                ^^ t :
                                                                   values, is :
                                                                                       \
    (A)
                                                                   (A) Variance    .
    (B)
                                                                   (B) Quartile Deviation

    (C)             (Skewness)                                     (C) Skewness

    (D) *HI1^ [^■clQl'l                                            (D) Standard Deviation


79. nRcturHii            ■^*               MRtticrMii        79.   What is the term used in hypothesis

    ^ oiR^                             ^                           testing for the error of rejecting a true

    t?                                                             null hypothesis ?

    (A) ZT?ti I ^                                                  "(A) TypeIError

    (B) ^I?q II ife ■                                              (B) Type II Error

     (c)- -2if^ ni ife                                             (C) Type in Error

    (D)             #                                              (p) Composite Error


80. RwldR^d          ^ '^Fm                  '^m             80. Which of the following is a non-

    t ?         ^                                                  parametric test ?

    (A) t-'^m                                                      (A) r-test

     (B) z-'^%m                                                    (B) z-test

     (C)                           '                               (C) Chi-square test

     (D) F-'qtt^-              '             :                     p) F-test


(3)S/04/2024/A                                          12
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 15 of 52
Page 15 of 52
Text of page 15
81.               'tiRii ^                  "w "nf^nTThr       81. The mathematical expression given in
                "3^?                        -cti^dldl f 1             terms of a variable quantity is called :

        (A)                                                          (A) Function

        (B)                                                          (B) Rational function

        (C)                                                          (C) Polynominal function

       (D)                                                           (D) Equation


82. x^ + 3x^ + 5x + 3 = 0 f^ faqr i*Rui,                        82. x^ + 3x2 + 5x + 3 = 0 given equation is
              ^^                      f 7                            an equation of which degree ?

       (A)             ^Hlch<ui                                      (A) Linear equation

       ■ (B) fetJIdl^                                                (B) Quadratic equation

       (C) cTM "To ^                                                 (C) Cubic equation

       (D) -S^^            ^^                                        (D) None of the above
                                                            I




83. "qf^ 3tW BTO                      AC = 100 ~ 2*:-       83. What will be the marginal cost

       0.5x2 ^ x = 4 dcHKd ^                          ^              function when average cost function is

                                                                     AC = 100 - 2x - 0.5x2 and x = 4
           ^ ^Ini'd dMia ^                    ?
                                                            I


                                                                     quantity of production is given ?
       (A) 100                    .    '          '
                                                                . (A) 100
       (B) 102
                                                                     (B) 102
       (C) 106
                                                                 ■   (C) 106
 •     (D) 108
                                                                     (D) 108

(3)S/04/2024/A                                         13                                                P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 16 of 52
Page 16 of 52
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 17 of 52
Page 17 of 52
Text of page 17
3         4                                       3    4
86.         A= 1         2
                                     A ^ (A          86. IfA =
                                                                 1    2
                                                                              then A~^ (inverse matrix


      ypddl^ aTT3!J^) ^ :                                of A) will be.

                    1        2                                         1         2
                                                                 -1
      (A) A-^ =    1/2       1/2                         (A) A        1/2        1/2

                  '-I/2       1/2'                                    "-1/2       1/2"
      (B) A-'= M'              2                         (B) A-
                                                              '
                                                                          1        2


                 1            -2"                                     " 1         -2
      (C) A-'= -1/2           3/2
                                                         (C) A-'= -1/2            3/2

                   ■ 1        2"                                  ■ 1             2"
      (D)
          A-'=                                           (D) A-'= 1/2
                   1/2       3/2                                                 3/2



87.                      ;c = 200 - p2        fan    87. If demand function x = 200 - P^ iIS


      t,     p=2                   -qr ^                 given, what will be the elasticity of


      ^       ?                                          demand at price P = 2 ?


      (A)                                                (A)


      (B)     —                                          (B)


      (C)                                                (C)



      (D)                                                (D) ej =
                                                                      49


(3)S/04/2024/A                                  15                                             P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 18 of 52
Page 18 of 52
Text of page 18
88.          WT ^                                   88. Who      first   developed    the    linear

      fen an ?                                           programming ?

      (A) 13;.         "3^                               (A) A. W. Tucker

      ■(B) fen                                           (B) James K. Strayer

      (C) ^                                              (C) George Cantor

      (D) ^ i'sffe                                       (D) George'Dantzig

                                                                                               Xy
89. cfefe "Tprf^ ^■ a^j                Xy TO        89. In technical coefficient formula ay = —
                                                                                               X;


                                                         what is Xj ?
      (A) Wfe "^pfe                                      (A) Technical coefficient

 ^    (B) yif          ^ ^ 37TO                          (B) Total input of yth sector

      (C) yi"*         ^ ^ fen                           (C) Total output ofyth sector

      (D) i^           "nn ."^ fen                       (D) Total output of /th sector


90. feNro 4^+a(0;' = o 3TTO^ fetnro 90. The equation ~^+a(t)y==0
                 at
                                                                                                in



      (fenWB                   TOT ^ t :                 differential equation is called :

      (A) ^ 3m TO Mn srnTOT toNto                        (A) Zero first order linear differential
                                                              equation
      (B) TOTOhr Vim to tfer
            fetron
                                                         (B) Homogeneous first order linear
                                                              differential equation
      (C) feTOTOhr 3T8W TO Mn smror
                                                         (C) Non-homogeneous first order linear
            ■?THfe3n
                                                              differential equation
      (D)              ^      "n^* .
                                                         (D) None of the above

(3)S/04/2024/A                                 16
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 19 of 52
Page 19 of 52
Text of page 19
91.                                      yIdHKH    91. Who propunded factor-price equalisation
               ferr ? ■                                  theorem ?

        (A) nTei                                         (A) Paul Samuelson

        (B)    (Tiki's TTRkr                             (B) Alfred Marshall

        (C)                                              (C) Irving Fisher

        (D) T^.         -q^TK                           (D) M. V. Posner


 92. "«HiMK                 ^                      92. "Trade results from differences in factor
                   ^ hR"iih          t i" ■^r«PT         endowments in different countries."-The

              TO sqr :                                   statement was given by :

       (A) T^grr            ^                           (A) Adam Smith

       (B)      ■QTT. fro                               (B) J. S. Mill"
                   I



       (C)             -m                               (C) Haberler
                                                                                      •       .



       (D)                      OT                      (D) Heckscher-Ohlin


93. 'm                      Wl ^ t, ^              93, When there is a deficit in the balance- of
       ^ :
                                                        payments, then exchange rate :

       (A) TO ^ ^ t                                     (A) decreases
                   I
                   I


       (B) ^ ^ t                                       (B) increases
                                                                              i           I




       (C)              ^ t                            (C) balances

    (D)                     ^                          (D) None of the above

{3)S/04/2024/A                                17                                                  P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 20 of 52
Page 20 of 52
Text of page 20
94. Which theory was developed by Gustav

             iPTT «n ?      .'                         Cassel ?


      (A)                        Ri^i-^                (A) Theory of Reciprocal demand

      (B)            "HHcTT RtSRT                      (B) Mint Parity theory

      (C)              ^™t Ri^i-^                       (C) Purchasing power parity theory

      (D) ^5OTT-^ RtSH                                  (D) Balance of Payments theory .

95.          ^ ^rfWr ^^TNR ^ ?T?if ^               95. Gross barter terms of trade           was

      mRimisi          :                                propounded by ^

      (A)          ^         (B)          fWTSf         (A) \Tner          (B) David Ricardo

      (C)^^                 ■ (D)                       (C) Taussig        (D) Ohlin

96.          !;iRki4 ■^. "Mfer             1MWt    96. Exchange rate determined by market
                                                        forces is :
      ^ t :
      (A) RsR               ^                           (A) Fixed Exchange Rate

       (B)             fsfRm ^                         ' (B) Flexible Exchange Rate

       (C) 3ittm                                        (C) Forward Exchange Rate

       (D)                   ^^                         (D) None of the above

97.                        WRT hR^iih «1T :         97.' The establishment of I.M.F. was the
                                                        result of:
       (A)                       ^
                                                        (A) Bretton Woods conference
       (B)                           ^
                                                         (B) European monetary agreement-
       (C)                   ^
                                                         (C) Durban agreement
       (D)       ^
                                                         (D) GATT

 (3)S/04/2024/A                                   18
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 21 of 52
Page 21 of 52
Text of page 21
r
 98. Pi*-iRiRaa              ^         chHNl         «THT   98. Which of the following is known as
         ■STRIT t ?      '
                                                                 paper gold ?
         (A)             '                                       (A) Bitcoin
         (B)                                                     (B) U.S. Dollar
         (P) ^                                                   (C) Euro
    *


         (D)          5rt^ arfq^
                                                                (D) Special Drawing Rights
                                                                                                            I



 99. PlMfcrlRdd ^ ^^Rrld                       :.           99, Match the following :                       '
                                                                       List I                  List n

                                                                (i) • J. Meade        (a) Technological
        (i)       ^ ,            (a)- wMt 3RRr^
                                                                                           gap

        (ii) imK                 (b)                            (ii) Posner-          (b) Unequal

                                                                                           exchange
        (iii)                . (c) ^dlMdilO
                                                               (iii) Emmanuel         (c) Immisering
        (iv) WJ^                 (d)
                                                                                           Growth

                                                               (iv) Jagdish          (d) Trade

                                                                    Bhagwati               indifference
        W :
                                                                                           curve


        (A) (i)Ka), (ii)-(b), (iii)-(c), (iv)-(d)
                                                               Codes :

        (B) (i)-(d), (ii)-(a), (iii)-(b), (iv)-(c)             (A) (i)-(a), (ii)-(b), (iii)-(c), (iv)-(d)

    (C) (i)-(d), (ii)-(b), (iii)-(a), (iv)-(c)                 (B) (i):(d), (ii)Ka), (iii)-(b), (iv)-(c)
                                                               (C) (i)-(d), (ii)-(b), (iii)-(a), (iv)-(c)
    (D) (i)-(b), (ii)-(c), (iii)-(d), (iv)-(a)
                                                               (D) (i)-(b), (ii)-(c), (iii)-(d), (iv)-(a)

(3)S/04/2024/A                                        19                                           '   P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 22 of 52
Page 22 of 52
Text of page 22
100. Match the following :
100. rHMHrin^d ^ iiAPdd                :
                                                             (i) Rybczynski        (a) Remarks on
    (i) Rf^H<+)1          (a) Rhicjvh ■         ■311^
                                                                                        Currency and
                    /'
                                                                                        commerce



    (ii) "shRi^ _         (b)         XhiR^                  (ii) Kravis           (b) Inter-regional

                                                                                        and International


                                                                                        Trade
    (iii)                 (c)                 mKi

                                                             (iii), Ohlin          (c) Wages and

                                                                                        Foreign Trade
    (iv) "^sfH            (d)          u,-sWi
                                                             (iv) John             (d) Factor

                                                                  Wheatley              Endowment and


                                                                                        Relative


                                                                                        Commodity Price
    W '

                                                              Codes :
     (A) (i)-(d), (ii)-(c), (iii)-(b), (iv)-(a)
                                                              (A) (i)-(d), (ii)-(c), (iii)-(b), (iv)-(a)
     (B) (i)-(d), (ii)-(a), (iii)-(b), (iv).(c)
                                                              (B) (i)-(d), (ii)-(a), (iii)-(b), (iv)-(c)
     (C) (i)-(a), (ii)-(b), (iii)-(c), (iv)-(d)
                                                              (C) (i)-(a), (ii)-(b), (iii)-(c), (iv)-(d)

     (D) (i)-(c), (ii)-(d), (iii)-(b), (iv)-(a)               (D) (i)-(c), (ii)-(d), (iii)-(b), (iv)-(a)


(3)S/04/2024/A                                          20
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 23 of 52
Page 23 of 52
Text of page 23
101.                ^                        Tf          ,101. How do private goods differ from social
               WTTte ^3if ^              "Si^ fiR               goods in consumer behaviour according
                                                                to Samuelson ?
        (A)          ^3if ^ ^jtTi?r WT ^ t
                              f^R ^
                                                                (A) Private goods have a imiform price
              wrf^              ^                "3^                but v^ng quantities, whil6 social
                         ^.^m "CR                ^                  goods are available to all at price
          .,f I                                                     based on valuation.

        (B) ^iHiP^cb ^aif ^                  im ^              (B) Social goods have a uniform price
              1%^ ^ ^ftTT?T "^m ^ f, fRt                          , regardless of consumption, private
              ^3^      ^ ff                                         goods have variable consumption at
              1^ ^ t I
                                                                    a set price.
        (C). i^ ^arf ^      ^RR TiT=f[ T?^
                                                               (C) Private goods have varied prices for
                 -EfM ^ t, iTTRfe
            ^ "Q;^ PiRf-^^a cfftR            "I I                   the same amount, social goods have
                                                                    a fixed price.
    (D)                               -5^*         ^
                     ^ t ^ -3^               ^                 (D) Social goods are accessible only to
              t,^                 ^ 1^                              those who can afford them, private
            ^t I                                                    goods are available to all.

102, Snf^^ H'^d          ^IHil "^1^          "^R^iR       102. Which of the following measures is used
    ■gm ^)Nh                   %^iT «TRT t ?                   by the Govt. to address the economic,
                                                               depression ?
    (A)                   3Tk ilT^Sfto ^rpfl ^
                                                               (A) Expansion of Govt. Spending and
                                                                   public works
    (B) "U^               ^              ^          ii
                                                              ■.(B) Increase in tax rates to boost
                                                                   revenue

  _ (C),,                 ^ f^- ®JTRT                          (C) Reduction in interest rate        to
                                                                   increase savings

    (D) 3q^<Rf^ "sqRR ^ -Tjyf ^                    ^          (D), Complete          withdrawal    from
                                                                   international trade
            ^SIPTT
                                                                                                     I


(3)S/04/2024/A                                       21                                           P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 24 of 52
Page 24 of 52
Text of page 24
103. RHRrlRsId ^ ^APdd                   :               103. Match the following :

                                                             (a) Proportional (1) Tax rate
 ' (a)            ^ (1) ^^
                                                                  Tax                 decreases          as
                                     Mid) "t"
                                                                                      income increases
   (b) *It4 ^ (2)                    ^^^                     (b) Regressive       (2) Tax rate
                                                                  Tax                 increases        with
                             Midi ^ ^                                                 income but at

   (c) shchIo ^        (3)           ^                                                decreasing rate

                                                              (c) Degressive      (3) Tax rate remains
                             =11=1              3?ift             Tax                    constant,

                             t I                                                         regardless       of
                                                                                         income level
    w •
                                                              Codes :
    (A) (a)-(2), (b)-(l), (c)-(3)
                                                              (A) (a)-(2), (bHl), (cH3)
    (B) (aHl),(b)-(3),(cH2)
                                                              (B) (a)-(l), (b)-(3), (c)-(2)
    (C)'(a)-(3), (b)-(l), (c)-(2)                             (C) (a)-(3), (b)-(l), (cK2)
    (D) (a)-(3), (b)-(2), (c)-(l)                             (D) (aH3), (b)-(2), (c)-(l)

104. aijTTdk TR %^                           "9^* ^ 104. How do countries typically resolve issues
                                                               of double taxation ?
           ^^ t ?
                                                               (A) By charging higher taxes oh foreign
    (A),         31FI ■qr                ^ WIT^ .                  income

     (B) ^            ^          ^                             (B) By       signing   double         taxation
                                                                    avoidance treaties

                                                               (C) By exempting foreign income from
     (C)         3TI^T ^         ^ "9^                              taxes

     (D) o^rcwdi* ^ #if ■^* ■^*                                (D) By requiring individuals to pay
           ^ 3ilMV^4)dl              *                              taxes in both countries


 (3)S/04/2024/A                                         22
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 25 of 52
Page 25 of 52
Text of page 25
105.             ^^              ^          ^      105. Role of public sector undertakings is.:
    e
        t ?
                                                        (A) Economic Growth
        (A)          fqe^m
                                                        (B) Distributive Justice
    (B)
              9

                                                        (C) Counteracting market failure
    (C) "^TSIR I^WcTT W hRic^k

    (D)             ^                                   (D) All of the above.


106. Rchld^ '^filWh ^                         "4*   106. Which of the following statements is

                                                         correct on the basis of tax reforms in
                  ^ Ri^ Pt*^f^iRaa "^f     ^t^TT
                                                        India as per Nicholas Kaldor ?
                   ^ ?
                                                        (A) Base of Income taxation is accurate
    (A)               ^«ii -q^ifqr ^          ^
                                                             for - sufficient and equitable tax
          1^ aiH ^ srm ^RrapT ^ 1^
                                                             collection.

                   t I
                                                        (B) Wealth tax be abolished and income

    (B)            ^^ ^HiKi             chqei 3M             tax should be the only form of

                  Wtt         I                              taxation.


                                                       (C) There is no direct relationship
    (C)            xr^ ^?iT^ ^ ^ sftr                                                      I
                                                                                               I



                                                             between the growth of Gross
          ^ yiPki^ ^ ^ ^
                                                             National Product and tax receipts.
                  -Ji^' t I                                                                I
                                                       (D) Basis for the introduction of
                                                                           . •             I
                                                                                           I
    (D) ^                                                    expenditure tax and wealth tax is

          ^           37m         t I                        not appropriate


(3)S/04/2024/A                                 23                                        P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 26 of 52
Page 26 of 52
Text of page 26
107.               ^^                               ^            107. What type of insurance is least suited for
       ^                t?                                            private provision ?

       (A)         ^                      ^                           (A) Health insurance for elderly,
       (B) iTT^jfe                   ^^ ^
                                                                      (B) Insurance for natural disasters like
                                                                            floods
       (C) "5^                              f^.
                                                                       (C) Life insurance for young adults

       (D)              -cjld^bT              3Ti^                     (D) Auto insurance for safe drivers


108. ^|4^[h^                                      ''3>t-<l5'S<    108. What is 'Free-Rider' in the context of

                                                                       Public Goods ?
       ^t ?

       (A) "13;^                                      ^ 1^             (A) A person who volunteers for

                                   <=h<df "i" I                             community services.

                                                                       (B) A person who pays for 'public

                   ^l4«irH=b "^3^ ^ ^'idld ^<di                              services to support community

                                                                             welfare".
              ^'

        (C)                  ^ "^en^Jifer hR^si ^                       (C) A person who promotes the use of

              <iHAlVl                        t 1                             public transportation.

        (D)                                '^* ^Vl^M                    (D) A person who consumes goods and

              ■f^ "^3^ a^ "^ajf ^ as^Vi                                      services without contributing to the

              ctj<di ^ I                                                     cost.



 (3)S/04/2024/A                                                  24




                                                                                               ri
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 27 of 52
Page 27 of 52
Text of page 27
m w%




109. PiMleiPaa "4*                iHtnn <^11^4,:   109. Match the following correctly :


    (1)                   (a) 13;^                     (1) Public Goods (a) A          good      or

                                                                                 service        that
                               •5ft

                                                                                 is    excludable
                               ^ Wftrj -ft"
                                                                                 and    rival    in
                               irf^ t I
                                                                                 consumption.
    (2) Pi*41             (b) ^<4)K        Pi^l
                                                       (2) Private Goods (b) A partnership

                                                                                 between Govt.

                                ^1^<k1 t I
                                                                                 and       private

    (3) ■ ^Hlcf'JlPich    (c) "Q^        "^ft                                  ' sector.



           pT5ft ^hH^kI                                (3) Public-Private (c) A good that is

                                                            Partnership          non-excludable


                                siypd^dl ^                                       and non-rival


                                11                                               in consumption.


                                                        Codes :
    ^:

                                                       (A) (l)-(c), (2)-(a), (3)-(b)
     (A) (l).(c), (2)--(a), (3)-(b)
                                                       (B) (l)-(a). (2)-(c), (3)-(b)
     (B) (l)-(a), (2)-(c), (3)-(b)
                                                       (C) (l)-(b), (2)-(a), (3)-(c)
     (C) (l)-(b), (2)-(a), (3)-(c)
                                                       (D) (l)-(c), (2)-(b),(3Ha)
     (D) (l)-(c), (2)-(b), (3)-(a)


(3)S/04/2024/A                                    25                                        P.T.O,
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 28 of 52
Page 28 of 52
Text of page 28
110.                 fnciii            ;              110. Match the following :

    (IX         ^ (a) ^lcf>3iRicb                ■%       (1) Wagner's        (a) Focuses on Govt.

                              "RRMH. 3fk aiH                   Law                role in providing

                              :iifqat"i "^f ^<ct)i<                               public goods and

                              ^            -iR                                    redistributing

                              t I                                                 income.


       (2)            (b)                                 (2) Arrow's        (b) States that as an

                                       srefoq^^                Paradox            economy develops,

                                        ^ t,                                      public expenditure

                                        oZp[ qto^l                                increases.

                            ti ■                          (3) Musgrave's (c) Demonstrates the

                                                               Theory            impossibility of

                                                                                 creating      a   fair

                                                                                 voting system that

                                                                                 .reflects individual

                            ^?TfeT t I                                           preference.

                                                          Codes :


    (A) (l)-(b), (2)-(a), (3)-(c)                         (A) (l)-(b), (2)Ka), (3)-(c)

    (B) (l)-(b), (2)-(c), (3)-(a)                         (B) (l)-(b), (2).(c), (3)-(a)

    (C) (IHa), (2Hc), (3>(b)                              (C) (l)-(a), (2)-(c), (3)-(b)

    (D) (I)-(c), (2)-(b), (3)-(a)          ■              (D) (l)-(c), (2)-(b), (3)-(a)

(3)S/04/2024/A                                   26
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 29 of 52
Page 29 of 52
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 30 of 52
Page 30 of 52
Text of page 30
113. PHHrcrlRdd        ^                         ^    113. Which of the following is not a

            ^t ?                                           limitation of Bank rate policy ?

     (A) ^RR                        oisei^ ^ V\^ '^'       (A) Market rates do not change with

            WRff I                                              bank rate.


     (B)               eTFT^*                              (B) Wages, costs and prices are not

        .          I                                            elastic.


     (C) fe                     ^         ^^Ndl            (^C) Banks do not t^e .financial help
            ^ I                                                 from Central Bank.

     (D) ^ XT                       ^t r                   (D) Bank rate is discriminatory.


114. rHHRriPsid ^ ^ xfNrft X^.'^.T^.'^ft.              114. Which of the following NBFC is not

     (NBFC) 3mt                                   ^        correctly paired with its respective

                                                           regulatory agency ?
    ^                      t ?
                                                           (A)' Venture Capital Fund - SEBI
     (A)^ ^iw "W - "M
                                                          (B) Chit Fund Company - State
  ■ (B) fe                XRiRTt - TI^
                                                                                      Government

     (C) WT XTPq^ - wife                    RWFT,
                                                          (C) Nidhi Company - Ministry of
                                             TRW
                                                                  Corporate Affairs, Govt. of India

    (D)                wfeR - fel^ -te 3W                 (D) Housing Finance - Reserve Bank of

                                             W#                                    India Company


(3)S/04/2024/A                                    28
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 31 of 52
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Text of page 31
115., rHHPdRsId           ^                      WTTfw %r ^                        115. Which of the following is «of an asset
                          t ?                                                             of the Commercial Bank ?


    (A) "W?                                                                               (A) Deposits
                                                                                                                               (




    (B)           T?:^'                                                                   (B) Loans and advances

    (C)                                                                                   (C) Cash

    (D) M?T                                                                               (D) Investments                      I

116. W "^*                                    "M'Mlkldl             "sftfen-       116. The reform related to strengthen the

            ITFT^' ^                          ^                                           capital adequacy and risk management
                                                                                                                               I



                                                                                          standards of banks in India is called :
             "t :
                   ,                 ,            ♦        *   .'
                                                                                          (A) Insolvency and bankruptcy code
    (A)                3^ T^^lPd^lMd
                                                                                          (B) Prompt           corrective '   action
    (B)                                       =hl4cll^ JbH'=i=h'
                                                                                                 framework

    (C)            III 1TTTO
                                                                               ^          (C) Basel III Norms
                                                                                                                               (

    (D) ^MciM                  sfk ^ fer "fe ^ i                                          (D) Introduction of Payment Bank and
                                          ■                    ■■ ' -t;                          Small Finance Bank           '


117;.,^ fe. pq%Ti^ "m^* ^ w 'Men,, 117. The'banks that focus on providing
     oMpKi'id "^rn, shfsi                                                                 service to' indiyidual customers such as

     WT           ^                           t, 4)^dle^ f :                              saving accounts, personal loans, credit
                          t>             . ♦

                                                                                          cards are called :
    (A)                                                                        ,      >




                              1 1'                    '!          't'                     ■(A) Retail Banks                    i
    (B) wflte ^
                                                                                          (B) Corporate Banks         ..
                                                                               ^                                               1

    (C)
                                                                                          (C) Investment Banks                '
                                                                               i             •        »


    (D)                   "fe                                                             (D) Community Banks

(3)S/04/2024/A                                                            29                                                  P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 32 of 52
Page 32 of 52
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 33 of 52
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121. rHHPcrlfed           tr                  I             121. Consider the following statements. Which
                                                                                                              I


                          ^^ f ?                                    ofthe diese statements is not correct ?


    (A) fera ^ TT^ "3^                        snarJi,         . (A) One          of     the    objectives     of
                                                                     /


                                                                         development is to increase the
          ^^RS2T ^                      ifWt ."^311^                     availability    and     widen      the
                                                                         distribution of basic life, sustaining
          Piqfe                 ^iH<n«^dT 3^k -aiq)!
                                                                         goods such as food, shelter, health
          f^cRq            t I                                           and protection.

    (B) ^ ?Tf^ "^TOT (it."^.it.) "Rnt                         ■          Purchasing Power Parity (PPP) is

          ^3# sk ^4'4                                                    calculation    of    Gross   National

                                                                         Income (GNI) using a specific set
          4^4 4 f^rfw ^^                          ^
                                                                         of international prices for all goods
          <Hq)ei Xl^hr 3TRT ('3ii.y,i.3llf.) 4
                                                                         and services to provide more
                  f            'qlq-iw^. 4 siiw
                                                                         accurate comparison of living
          tiilqi fldii "ST^ 4 W                   I                      standards.


    (C)           "hM «fr3F, ^Tit, 3rnaR a^k                      . (C) Absolute poverty is the situation of

          ^Ph^kI am\^                   ^                            . , being unable or only being able to

          Piqfe aiiq^fqqiaiaif ,4 ''^[r q»<^*                            meet the subsistance essentials of

          srpAt "qr                       ^ 4 wt                         food, clothing, shelter and basic

              4 ftsif^-1 I                                               health care.


    (D) ^qNR 4 ^                        ^ 4 4^^!                   (D) Terms of trade is the ratio of a

          Piqfd *jjrq 4t                 4tid aiPTRf                     country's average export price to its
                      I



                  qiT ai^Hia        I                                    average import price.


(3)S/04/2024/A                                         31                                                P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 34 of 52
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122.                                  ^ %3;      122. In W. W. Rostow's 'Stages of Growth

        ■fern Tfer rHTiT'        ■^*   •^p[^        • Model for Development' which one of

        fem ^ 37^^ TTM^ ^ t ?
                                                      the following is not included as a stage
                                                      of development ?
        (A) wwm "^TTTM ^
                                                      (A) Stage of traditional society
        (B)        V^ ^ 37^^
                                                      (B) Take off stage
        (C) ^Tf^TWT ^        T^ 37^^
                                                      (C) Drive to maturity stage
        (D) 17m                 ^ 37^7f87T            (D) Age of moderate mass consumption

123.          ^                  ^ ^ XT 123. If            AY
                                                                is rate of growth of GDP; S is

       t; S ^ TT^           373mcl t sfk C           Net National Savings Ratio and C is

       Ti^ %ft-^3?qTX^ aTjqRT t, cit fF#ffer         National Capital-Output Ratio, then

                                                     which ^ the following is a simplified
       "4' X7teT[ 3nfe fera ^
                                                     version of the famous equation' in
       fejcT T^* "Effex T^Hlch<ui ^ ^<dl^d
                                                     Harrod-Domar theory of economic
       TR^OT t ?                                     growth ?

              J^^_S                                         Y     S-
       (A)                                           (A)
              AY   C                                        AY    C

              AY   C                                       AY^C
       (B)                                           (B)
              Y "S                                          Y ~S
              AY   S                                       AY     S
       (C)                                           (C)
              Y    C


    (D) SAY = CY                                     (D) SAY = CY


(3)S/04/2024/A                               32
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 35 of 52
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Text of page 35
124.                                   (Neo-classical)      124. Which of the following is ko/ true
               Tfer          ^                 ^2FT              about    Solow   neo-classical     growth
       ^t ?                                                     model ?

       (A)^ Tff^                              if aifqwT          (A) Solow     model     is   the    basic
             ^               ^ %3; a7i?qR^ ^                        . firework for study of convergence
         - ti                                                        across countries.

       (B) ^          %Tt 3fk ^ ^ TT«^                          (B) Solow model allows for substitution
           ^lf?T^aTO ^ aq^irfcT ^ t I                                between capital and labour.

   " (C)           1#S^          S            ^ ^) ■^*          (C) In Solow model an increase in S
                                                                     (rate of savings) will not increase
                                                                     growth in      long run, it      will
             ■^*                               K® ("3^
                                                                   ' only, increase the equilibrium K®
                       ^) ^                   I
                                                                     (capital per worker)
       (D)             TTT^ TTHm t 1^ SR
                                                                (D) The Solow model assumes that
             %it 3Tm ^ "31^% -q^ yrd4)d                              there are increasing returns to the
             t I                                                     use of labour and capital inputs.

125.                   fera iffe^ ^               f^*       125. The concept of an endogenous growth
       fl=tn1=tA 3#r:^TT^ (Spillover)                 f,        model in which technological spillovers
       t^T^qiit %ft                                             are present, the countrywide capital stock
                   ^ ^                  WT t f%T^               positively affects output at the industry
       3TS|oq^^ oqi^ ^ -q^                ^ yPdHioi             level, so there may be increasing returns
                                                                to scale at the economywide level, is
       ^           t      PdHRdRsid ^ fer fera
                                                                known as which of the following growth
       hT'Sqi ^             ^STFTT ^5TM ^ ?
                                                                models ?
       (A)         hT'Sqi
                                                                (A) Romer model
       (B) TTSFT hT'Sqi                                         (B) Rodan model
       (C) tffWr Tffs^                                          (C) Robinson model
       (D)              ^qfevT                                  (D) Kaldor model

(3)S/04/2024/A                                         33                                           P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 36 of 52
Page 36 of 52
Text of page 36
Wk




 126.- cRvfNt        ^                                      126. In the context of Hicks classification of

                                                                  technical progress, with constant ratio of
             A          ^ ai^qjcT ^              ^
                                                                  labour to capital consider the following
     11^. 1^ ^r«nf "qr t^.^itf^ :
                                                                  statements :


     (I) n=t>il«t)1 "SPTRt     ^         "^j?! ^sTRU             (I) The technical progress is said to be

          t^            ^^                                            labour savings if it raises the

                                                                       marginal product of labour in

                                                                       greater proportion than marginal
                   aq^qRT            f 1                     ;                         •'
                                         ^   \
                                                                      product of capital.

     (n) cRnto iRf^ ^"^jft                        «n?iT          (n) The technical progress is said to be

        ■ . t ^^^                        "3^ ^                        capital savings if it raises the

                                                                      marginal product of capital in
           m ^ ^WfT ^?qK ^
                                                                      greater proportion than the marginal
          site 3^5^^                t I                               product of labour.

                                                                 Which of the following is correct ?
     fHHrdRsid "4*                 t ?
                                                                 (A) Only Statement (I) is correct.
    (A) ii^              (I)       t I
                                                                 (B) Only Statement (11) is correct.
    (B)                 (n)^ i I                                 (C) Both Statements (1) and (II) are

                                                                      correct.
    (C)         ^«FT (I) ^ (H)                   t I
                                                                 (D) Both Statements (1) and (11) are
    (D)         ^«H ® ^a^T (n)                   t I
                                                                      incorrect.

(3)S/04/2024/A                                         34
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 37 of 52
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Text of page 37
127. 37TT                *iihi ^                     127. Consider       the   following     statements


     RHrdPsicI         TK i^               :              related   to     measurement       of income


                                                          inequality:            '
    (I) en^5f ^ ^                t^RRt 3Tf^
                                                          (I)   The greater the curvature of Lorenz
            ^Wt ^RIRFTciT ^          "ferft "^^nt
                                                                line, the greater is" the relative
            i\            I
                                                                degree of inequality.
    (n) M Tprf^ wm ^mhm^\ ^ t ak
                                                          (n) Gini coefficients are aggregate
            0 ■ ("^ aro^Tpmr)          i (Tjyf
                                                                inequality measures and can vary
            wrai)                     it wf^
                                                                anywhere       from      0     (perfect

                                                                inequality) to 1 (perfect equality).

    fmfM^           ■^* ^1^.         t ?                  Which of the following is correct ?


    (A)          WT (I) ^ t I                         '   (A) Only Statement (I) is correct.


    (B)               (II) ^ t I                          (B) Only Statement (II) is correct.


                                                          (C) Both Statements (I) and (II) are
    (C)               .. (I) .^?IT   (n)   -^Trq

                                                                correct.



                                                          (D) Both Statements (I) and (H) are
    (D)                (I) ^8IT (II) aro^I
                                                                incorrect.




(3)S/04/2024/A                                  35                                              P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 38 of 52
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Text of page 38
128.               ^          TR           ^               128, Consider the following statements related

   ^                qr                     :                    to expenditure on girls education i


       (I)               %ff ^                  a^cqqqf         (I)   Studies from around the developing

             ^ wjm w ^ t % ^n%qjT3ff                                  world      consistently   'show   that

             qft ^fqqi^            qn.           1^                   expansion of basic education of

             ^ 1^                    ■^'         srto'                girls earns among the very highest

             yrd4>d 37i%T qRtIT t - "S^iOT ^                          rate of return of any investment—

             1^, 37fqqif?T                 HR^il^llSRf                much higher for example, than most

             qff         ■^" ^ aTfqqr                                 public infrastructure project.


       (II) ^TfdqJTsrf qft 1w ^ wftq                            (II) Education of girls has also shown

             Mii=r)\ ^ "^qR                       WTcI                return to be one of the most cost


                   -m^                 ^^aiqi wt i                    efficient means of improving local

                                                                      health standards:
       pHHrdRdd T^f              ^ t ?
                                                                Which of the following is correct ?
       (A) ^qd            (I) ^ t I
                                                                (A) Only Statement (I) is correct.

       (B) ^qd qF«R (H) WT t 1                                  (B) Only -Statement (II) is correct. -

       (C)         ^F?sR (I) ^qr (II) ^ t I                     (C) Both Statements (I) and (II) are

                                                                      correct.
       (D)                 (I)     ?T8TT (II)    3RTdT
                                                                (D) Both Statements (I) and (II) are

                                                                      incorrect.



(3)S/04/2024/A                                        36
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 39 of 52
Page 39 of 52
Text of page 39
129.                                                         129. Under UNDP Human Development
                                                 s



       (TT^.^,3nf.) ^ 31^ '^jftoR                      ^
                                                                  Index (HDI) which of the following is
             "f^            cfili'Wi ■          t" ?
                                                                  indicator of standard of living ?

       (A)^ ^'WT
                                                                 (A) Life expectancy .at birth
       (B)                  ^            ^
                                                                 (B) Expected years of schooling
       (C)         '^' oMdla "f^                     sSto
                                                                 (C) Mean years of schooling


       (D) ^                             TT^ 3TR                 (D) Gross National Income Per Capita

             (it.-^.'^.$)                                             ^PP$)
       ^ '



130.         '% 17                        •^*                130. In 17 Sustainable Development Goals of


       PiciK"!* (Zero Hunger)                                     UN 'Zero Hunger' is given at which

       t?                                                         Goal ?



       (A)^1                                                     (A) Goal 1


       (B) ^^2                                                   (B) Goal 2


       (C) ^^9                                                   (C) Goal 9


       (D) W 11 '                                                (D) Goal 11




{3)S/04/2024/A                                          37                                            P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 40 of 52
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Text of page 40
131.                      ^^                       ^      131. The average number of daughters a

                                                                hypothetical cohort of women would
       "STapH "^JT^    <Jl<n                       ^
 I                                                              have at the end of their reproductive
       ^*OHl ^        '"^      "3^
                                                                period, if they were subject during their
       "3^ ^ "<3^*             ^            ^ t,                whole lives to the fertility rates and the

                                                                mortality rates of a given period, this is
                                                                                    *




                                                                known as :'
       (A)       "ETSFR ^                                   t




                                                                (A) Net Reproduction Rate
       (B) Snft^tT «PT ^
                                                                (B) Crude Birth Rate
       (C) ^ 3r3PR ^
                                                                (C) Total Fertility Rate
       (D) 3TIH t^rfW WR ^                                      (D) Age Specific Birth Rate

132.         WT         "^f srsmfM ^                      132. The number of immigrants minus the

     • ■^* ^ "SRlftRf ^                   ^lef^                 number of emigrants over a period,

       «q)ctil^ "^1^ ^1^ ^           TO           ^ilR          divided by the person-years lived by the

       ^ ^3RWTT ?Rr lTOTf^ ^ TT^: Tsit 3rf!r                    population of the receiving country over

       1000 TRRt ^SPRTW ^ ^ ^f?§qT ^                            that period. It is expressed as net number

                                                                of migrants per 1000 population, is
       TO ■^* "snR"       t", "3^          "t :
                                                                known as :
       (A) ^ IJTO^T ^
                                                                (A) Total Migration Rate
       (B)       TRTO ^
                                                                (B) Net Migration Rate
       (C) WR ^
                                                                (C) Emigration Rate
       (D) arrj^RR ^
                                                                (D) Immigration Rate

{3)S/04/2024/A                                       38
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 41 of 52
Page 41 of 52
Text of page 41
133.                          ^                    133. A vital statistics rate based on the


                                                        number of deaths due to maternal causes
       ^5RT 1^ q-cql ^ g,(:iii       "iTl^
                                                        relative to the number of live births
              4cif ^
                                                        occurring during a given period of time,
       ^ c+)^<riltil t :
                                                        usually a calendar year is known as ;
       (A) 1^ 'T3^
                                                       (A) Infant Mortality Rate

       (B) ^         ^
                                                       (B) Total Mortality Rate

       (c) -mm ^                                       (C) Maternal Mortality Rate

       (D) 37^«i?f (^qR^^d)           ^                (D) Crude Death Rate


134. TT^ w ^ "qRi ^ 1^                             134. Zone-near a city that is restricted as
                                                                \

                                                                }

                 Rt)qi q^l    I      1^ "WK "^*         regards any further extension of urban

       i[    "51^ ^ 3T^^               cl^              area. It serves as a bufTer separating

       ^^          ^         "^irf           "3^        sources of population from the city

                                                        population is known as :

                                                       (A) Green Audit
       (A) "^Rd ei^ainOt^T
                                                       (B) Green Reservoir
       (B) "?ftd ^m\i\
                                                       (C) Green Belt
       (C) "^Rd "q^
                                                       (D) Green City
       (D) "^Rd 7TWT

(3)S/04/2024/A                                 39                                        P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 42 of 52
Page 42 of 52
Text of page 42
135.                  ^^                                  135. Probability of dying between birth and

       ^          1      TffcT     'aRT      ^cnil             exact-age 1. It is expressed as deaths per

             tM        •5i^f?rcT '-^m\ t :                     1000 births, known as :


       (A) fng TJc^ ^ •                                        (A) Maternal Mortality Rate

       (B) 3n^           Tj?^                                  (B) Age Specific Death Rate
                                 ■ ■/

       (C)             ^                                       (C) Infant Mortality Rate

       (D)            ijcH ^                                   (D) Crude Death Rate


136. ^ ^ r^dlHli< 'wmwu ^                                 136. Population per square kilometre is known

       # :                                                     as :




       (A) '^mm ^ ^                                            (A) Population Growth Rate

       (B) ^RWTT ^                                             (B) Population Centre


       (C) "5^ ^ ^                .                            (C) Population of that Area


       (D) ^sFRfeir                                            (D) Population Density


137. -^miuHi ^ 2011                       qroi            137. As per Population Census 2011, number

              (60 ^ 13;^          "31^ "^" efrfft)             of aged persons (people aged 60 years

       ^ "^nw "fent ^ ?                                        and above) in India was :

       (A) 5.2^            ' (B) 10.38 ^                       (A) 5.2 crore        (B) 10.38 crore

       (C) 12.52^            (D) 18.92-^                       (C) 12.52 crore      (D) 18.92 crore


(3)S/04/2024/A                                       40
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 43 of 52
Page 43 of 52
Text of page 43
138.         ^ ^ 3T2f:?Tlf^' ^                  138. In recent years many economists called
                                                         'climate change' an example of:

       (A)       ^ fqwitnai                          (A) Demand failure

       (B) "^RK ^ f^4iddl                            (B) Market failure

       (C)         ^ R<^ddl                          (C) Support failure

       (D) cffto ^ fq'^Qiai                          (D) Price failure

139.'               '            "3^            139. '               ' refers to a variety of
       wto ^ t # M^Ici<u| 3i^n^          ^           techniques to assign monetary values to
      ^ ^-"^RR            ^ illf^ TJ^ KR             environmental impacts, especially non-
       ^Rcit t I                                     market impacts.

     (A) M^fq<u| litrqfqiH                           (A) Environmental valuation

     (B)                            .                (B) Environmental analysis

     (C) ^                                           (C) Green analysis

     (D) ^                                           (D) Green valuation


140. *■■""          ' ^       "3^ ^sUlT^ctn^    140. '                ' refers to a demographic

                t f^RT^f aifem RTRRsin               pattern where a large share of the

                                                    population is comprised of children and
     ^«^T -5^           ^^t I
                                                     young adults.
     (A) ^5FRjfRsz#hT eTRR
                                                    (A) Demographic dividend
     (B) W?sqr ^ ^ #TT                                                                     i
                                                    (B) Aging of population                '
     (C) ^ -3^ C^8T                                 (C) Youth Bulge .

     (D) t¥fcTT                                     (D) Dependency Ratio

(3)S/04/2024/A                             41                                           P.T.O.




                                                                                                  I
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 44 of 52
Page 44 of 52
Text of page 44
141.                      2021-22. ^               141. According to Economic Survey 2021-22,

       PHMRrlRsId "^f "d.     3IT8lte ^ ■^*             which of the following is not included in

       ^fi+ileia    "I ?                                Primary Sector ?


       (A) ^                                            (A) Agriculture


       (B) "R^, WT                                      (B) Fishing


       (C)                                              (C) Mining


       (D)                                              (D) Animal Husbandry


142. RRcftR aiafsqcRSff     aupRf         TITRT    142. For attaining economic stability ■ and

             ^ ^ "FlitRT                                containing inflationary pressures in the

       ^ ^            ^ ^           ^                   Indian economy, a target has been set up

                                       "HcRK ^          to keep the combined fiscal deficit of

              iifd^ra ^       ^ w w "TO                 centre and states upto what percentage of

       t ?                                              GD.P. ?


       (A) 3 -af^                                       (A) 3 per cent


       (B) 4 "SfctW                                     (B) 4 per cent


       (C) 5 "Sf^                                       (C) 5 per cent

       (D) 6 nftRR                                       (D) 6 per cent


(3jS/04/2024/A                                    42
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 45 of 52
Page 45 of 52
Text of page 45
143. qi«ifq<t) ,        ^ ''FHT                    143. With reference to the computation of
                                                     ,. real GDP, which of the following
           7                                             statement(s) is/are correct ?

      (I) ^^                       wiNfT                (D GDP deflator is preferred as
                                                             compared to WPI and CPI (Whole
                                                             Sale Price Index and Consumer
           ^ 3if8#?^ ^ «ncit t I
                                                             Price Index)
     (H) ^.^."^ft. fe4crl«i< 3T«foq^^ i(
                                                        (n) GDP ,deflatdr covers entire range of
           ■ ^cHiRd ^3if ak ^aif ^ ^n^jpf
                                                             goods and services produced in the
                    ^ ?TTf%         11
                                                             economy.

     (A) ^^(I)
                                                       (A) Only (I)
     (B) ^^(11)                                        (B) Only (II)
     (C)         (l)V^(U)                              (C) Both (I) and (II)

 , (D)^^(I)3k-^Tft (II)                                (D) Neither (1) nor (II)

144. PiHPdRsld         simi                        144. Mfhich of the following organisations

            37^ R^y           ^qq)i*qi" M4)lRld        publishes "World Gender Gap Report
                                                       and Index" ?
           t" ?
                                                       (A) World Economic Forum
    (A)           aTlf^RT ^
                                                       (B) United      Nations    Development
    (B)                       ^rpfgiiT
                                                            Programme
    (C) f^ %
                                                      (C) World Bank
    (D) aRRf^N "55?! "^fiW
                                                      (D) International Monetary Fund

(3)S/04/2024/A                                43                                         P.T.O.
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 46 of 52
Page 46 of 52
Text of page 46
145.                               ^                      145. With reference       to    the   'PM-SHRI'

       PinRnRsid "^*                                          Scheme,       which of the         following

                                                              statement(s) is/are correct ?

       (I) *^.T3;H.-?ft'      HRcT               OT           (I) The TM-SHRI' is a centrally
                                                                   sponsored scheme introduced by

             11                            «        .              Govt. of India.


       (II) 2024-25 ^              ■^' *it.T3H.-«lt' ^        (II) In " 2024-25 budget, the budget
                                    <


                   311^ ? 400              1^                      allocation for 'PM-SHRI' is ^ 400

             t 1                                                   crore.



       (A)         (I)                                         (A) Only G)

       (B) ^^(11)                                              (B) Only GI)

       (C)         (I)     (II)                                (C) Both G) and GI)

       (D) ^ ^ (I) ^ ^ ^ (II)                                  (D) Neither G) nor (II)


146.                        i^TOT iWlH 2023-24            146. According       to        UNDP,       Human

                                                               Development Report (HDR) 2023-24,
       ^             W            2010-22 ^ 31^
                                                               how much has          the     'Gini Income
       ■^f '"M 3M Iplf^*                l^dHI     "TO
                                                               Coefficient' reduced in India during the
       t ?                                                     period 2010-22 ?

       (A) 0.368                  (B) 0.357                    (A) 0.368                 (B) 0.357


        (C) 0.342                 (D) 0.341                    (C) 0.342                 (D) 0.341


(3)S/04/2024/A                                           44
MP SET 2024 question paper, State Eligibility Test 2024, Economics, page 47 of 52
Page 47 of 52
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147.               ^                                    147. Which international organisation
                                                                                                     has'

   , •                           2024                         published 'World Employment and
                                        r    1        I                    *


         ^^ ^ ^                                   '           Social Outlook' Report 2024 ?
     (A)                                                     (A) World Bank


     (B)            SR                                       (B) International Labour Organisation

     (C) -sRRf^ -gsr ^                                       (C) International Monetaiy Fund

     (D) 1%^ 3TTfe                                           (D) World Economic Forum


- 148. ^                     ^              ^ 148. To generate the labour statistics

         ^                   uPaqcl 3TRfe                    indicators, which organisation conducts
          ^                       fer ^                     ■ annually the Periodic Labour Force

    t? .                                                     Survey (PLFS) ?

    (A)        ■wi'Hsqqilq                                  (A) National Statistical Office


    (B) 9R ^                                                (B) Labour Bureau


    (C) cNN                                                 (C) Central Statistical Organisation

                                                            (D) Ministry       of   Labour         and
    (D) ^5FT
                                                                Employment

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149. With reference to the Pradhan Mantri
149.                        ^
                                                                    Dakshta   Aur     Kushalta    Sampanna
                                          Pi*^RriRad
                                                                    Hitgrahi PM-DAKSH), which of the
       ■£f ^                      ^       i?                ■       following statement(s) is/are incorrect;
       (I) ^                        ■^;                             Q) This        scheme   is    for     skill
               ■f."^-^. ^                         ^                      development of SC, OBC, EBC and
               c^s^ld l^^iRT ^         ^ I                               waste pickers.

                                                                    (II) This scheme is operated under the
       QX) ^ "^SRT cii-?0^ "^ftW                 '^*
                                                                         Central      ministry    of      Skill
                        H4M^      SRpfeT iR#Ri ^ I
                                                                         Development and Entrepreneurship.
       (A)              ®                                           (A) Only®
       (B) ^^(n)                                                     ®) Only (II)

       (C)          (I)     (H)                                 ^ (C) Both ffi and (n)

        (D) ^ ^ CO sk ^ ^ (II)"                                     P) Neither ® nor (0)

                                                        150. Which ofthe following organisations has
 150. rnHrdRdd                  ^          W 2023
                                                                     declared the year 2023              as the
        ^ 'SRRf^hr                      ^^r*4n
                                                                     'International Year of Millets' ?
                «TI ?
                                                                     (A) United Nations General Assembly
        (A)                           (UNGA)                         p) World Bank

         (B) 1^^                                                     (C) United Nations          Development
                                                                1


                                                                          Programme
         (C)            ^ fddiW «t>i4s»)*i (UNDP)
                                                                     P) United        Nations    Environment
         P) "^13^                            (UNEP)                       Programme


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Source: Madhya Pradesh Public Service Commission. Question paper published by Madhya Pradesh Public Service Commission.

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