SSB Odisha Lecturer 2021: Lecturer recruitment for non-government aided colleges, Economics
Text of page 1
DO NOT OPEN THIS TEST BOOKLET UNTIL YOU ARE ASKED TO DO
TEST BOOKLET s.ru3._-35{J
ubject Code : 07 Subject : Economics
LECTURERS FOR NON.GOVT. AIDED COLLEGES OF ODISHA
TimeAllowed:2 Hours Maximum Marks: 150
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lw- 3/34 (Tum over)
202L
Text of page 2
1. The Engel curve for necessaries (B) Variable proportions between
goods is : two factors
(A) Positively sloped at a flafter (C) lncreasing Returns to Scale
rate (D) Decreasing Returns to Scale
(B) Positively sloped at a steeper
5. Underperfectcompetition shortrun
rate
supply curve is identified as :
(C) Negativelysloped
(A) Rising portion of the Marginal
(D) Horizontal Cost Curve
2. Which of the folloriving is not a feature (B) Rising portion of the Average
of the Revealed Preference Theory Cost Curve
of Consumer Behayiour ? (C) Rising portion of the Marginal
(A) Behaviouristordinalist Cost Curve lying above the
(B) Transitive Average Variable Cost Curve
(C) Weakordering (D) Rising portion of the Average
Variable Cost Curve
(D) Consistencyofchoice
6 ln the Kinked Demand Curvetheory
3. ln case of Cobb-Douglas Production
of Oligopoly if MC curve shifts
Function, elasticity. of factor'
upward in the d[scontinuous range of
substitution is:
MR Curve, then atequilibrium :
(A) Zero
(A) Price rises but quantity of
(B) Equalto Unity
output remainsthe same
(C) Greaterthan Unity
(B) Price and quantity of output both
(D) Lessthan Unity remain the same
4. With L-shaped lsoquants, the (C) Quantityof output rises but price
production function exhibits' : remainsthe same
(A) Fixed proportions between two (D) Price and quantity of output
factors both rise
tw - 3/34 (2) Contd.
Text of page 3
7 Quasi-Rent is : (C) Both behave selfishly and
(A) Equaltototal profitsofthefirm confess to the crime and cheat
(B) Lessthan totalprofits of thefirm each other
(C) The excess of Total Revenue (D) Neitherof them confess
over Total Variable Cost
10. Equilibrium of Payoff Matrix is
(D) The excess of total revenue
achieved atthe Saddle point by:
overtotalcost
(A) Maximin Strategy
8. The inconsistency of which of the
(B) Maximin and Minimax
following criteria is labelled as
Strategies
Scitovsky Paradox ?
(A) Little Criterion (C) MinimaxStrategy
(B) Pareto Criterion (D) DominantStrategy
(C) Bergson Criterion 11. Which of the following is not corect
(D) Kaldor-HicksCriterion in National lncomeAccounting ?
I Which one of the following is the (A) National lncome = NNP at
strategic behaviour in case of factor cost
Prisoner's Dilemma of two rivalfirms (B) NNP = GNP - Depreciation
in duopoly games ?
(C) NDP at market price = NDP at
(A) Both of them cooperate by
factorcost + indirecttaxes less
enforcing agreements
subsidies
(B) Both of them choose the
(D) GNP = GDP - Net factor
dominant strategy of ' income from abroad
advertisement
tw- 3/34 (3) (Tum over)
Text of page 4
12. GreenAccounting is : (B) Money Multiplier
(A) lncreasing the forest cover (C) Bank Credit Multiplier
(B) Adoption of the practices of
(D) lnvestmentMultiplier
Green Revolution
(C) Computation of National 15. Non-Accelerating lnflation Rate of
lncome taking into accountthe U nemployment(NAl RU) represents :
damage and depletion of
(A) The steady state rate of
naturalresource base
unemployment in the long run
(D) Contribution of renewable
(B) Shortrun rateof unemployment
sources of energy sector to
Nationallncome (C) Difference between actua!
13. Which of the following is not rate and expected rate of
considered as wealth in Friedman's inflation
demand for money ? (D) Disequilibrium due to structural
(A) Money imperfections
(B) Bonds
16. The ability of commercial banks to
(C) Equity
increase their loans and advances
(D) Gold
depends upon
14. Expressing 'H' as high-powered
money, 'C'as the currency deposit
(A) Holding of Government
ratio and 'r'as the reserve deposit Securities
1+c (B) Cash Position
ratio, the equation M=H r+c
represents:
(C) Excess Cash Rgserves
(A) Deposit Multiplier (D) Non-PerformingAssets
tw- 3/34 (4) Contd
Text of page 5
17. Which one of the following is not a (C) Consumption is determined by
Non-Banking Financial lntermediary ? transitory income
(A) LrC (D) Equitable distribution of
(B) lFCl inCome leads to greater
(c) slDBl demonstration effect
(D) IRDA 20. With the lS curves, in the Keynesian
range of the LM curve in the Liquidity
18. Which of thefollowing is notexplored
Trap situation :
in the Mundell-Fleming Model?
(A) Functioning in open
(A) There is no crowding out effect
economy
(B) There isfull crowding outeffect
(B) Crowding out investment (C) Monetary Policyisfullyeffective
(C) Perfect capital mobility (D) Fiscal Policy is totally
ineffective
(D) Achieve both internal and
extemalbalance 21. Which one of the following
phenomenon explains the'free rider'
19. The Relative lncome Hypothesis
problem in Public Economics ?
states that :
(A) Short term average
(A) Ticketless travel in the lndian
Railway
consumption function is
proportional (B) Provision of pure public goods
(B) Ratchet effect operates from (C) Provision of Merit goods
the previous peak level of (D) Supply of partial Social goods
consumption with externalities
tw - 3/34 (5) (Tum over)
Text of page 6
22. According to Peacock-Wiseman (B) Equityeffect
hypothesis public expenditure (C) Distortion in allocation of
grows:
resources
(A) Steadilyovera period oftime (D) Welfare loss in terms of shift
(B) At a constant proportion in away from Pareto Optimality
relation to GNP
25. The Planning Programming and
(C) ln a step-like manner
Budgeting System (PPBS) :
(D) At a less than proportionate
(A) Stresses on outcome only
rate in relation to GNP
(B) Emphasises on physical
23. The technique of 'Shadow Prices'
targets
used in Social Cost-Benefit Analysis
(C) Stresses on optimalallocation
of project evaluation has been
of resources
contributed by:
(D) Considers the budget as a
(A) H. B. Chenery
whole rather than to examine
(B) E. J. Mishan
the incremental changes only
(C) J. Tinbergen
(D) H. Leibenstein 26 Equity in taxition can best be
achieved by applying the principle
24. Which one of the following is not a
of:
measurement of 'deadweight loss' in
taxation ?
(A) Benefit
(A) Costs in terms of loss of (B) EqualAbsoluteSacrifice
(C) EqualProportionalsacrifice
. Consumer's Surplus and
Producer's Surplus (D) EqualMarginalSacrifice
lw- 3/34 (6) Contd.
Text of page 7
27. Fiscaldeficit in the budget means: (B) Aidsfrom foreign country
(A) Budgetary deficit plus the net (C) lnterest receipts
borrowings of the Government (D) Disposing gold reserves of
(B) Primary deficit minus Capital India with foreign Central Banks
deficit 30. The Fifteenth Finance Commission
(C) Revenue deficit plus the net has recommended statEs'Share in
borrowings of the Government the divisible pool of taxes at what
(D) Capital deficit plus the percent ?
Revenue deficit (A) 30%
(B) 41o/o
28. The FRBM Act, 2003 mandates to
establish fiscal discipline by
(C) 42o/o
eliminating: (D) 44o/o
(A) Fiscal Deficit 31, The primary objective of Debt
(B) Revenue Deficit Sustainability is :
(C) Both Revenue Deficit and (A) Shifting the burden of public
Fisca! Deficit
debtto posterity
(D) Budgetary Deficit (B) Io reduce the Debt-GDP
ratio
29. Which of the following is a source of
(C) Substitution of new loans to
non-tax revenue of the Government
reduce the debt burden of the
of lndia ?
old one
(A) Borrowing from foreign
(D) Lengthening the maturity
Govemment
period of bonds
tw - 3/34 (7) (Turn over)
Text of page 8
32. Denoting the price of capital and (B) No protective effect
labour by Px and P. respectively (C) Averysmall protectiveeffect
and countries byA and B, if : (D) Avery large protective effect
f't) -'[[J,
[P^') 35. The Purchasing Power ParityTheory
IP. ,j^
does not explain :
(A) Country B is relatively capital
abundant (A) There is inconvertible paper
currency in the two countries
(B) Country A is relatively labour
abundant (B) How rate of exchange is fixed
(C) Country A is relatively capital (C) Why and how much is the
abundant change in exchange rate
(D) Relative factor abundance is (D) How much is the'demand for
indeterminate and supply of foreign exchange
33. What is the ratio between the price 36. Arbitrage in international payments
of a country's export goods and means:
price of its import goods ? (A) Settlement between Central
(A) Netbartertermsoftrade Banks
(B) Single factoralterms of trade (B) The act of simultaneously
(C) Doublefactoraltermsoftrade buying a currency in cheaper
(D) !ncome terms of trade market for sale in the costlier
market
34. lf the supply of a commodity is very
(C) Saleand purchaseofdomestic
inelastic in the exporting country and
currency for fo reig n b uyers
demand for the same is fairly elastic
in the importing country the (D) Speculation in foreign
imposition of tariff willhave: currencies in a situation of
.
(A) Verylarge revenue effect deficit in balance of payments
tw- 3/34 (8) Contd
Text of page 9
37.'Beggar-thy-neighbour Policy' refers (B) Agreement relating to
to: Agriculture
(A) Competitive depreciation by (C) Administer the Trade Policy
each country to increase ReviewMechanism
exports (D) frade related lntellectual
Property Rights
(B) Expenditure-switching policy
(C) Expenditure-reducingpolicy 41. Which of the following is not a
dimension formeasuring the Human
(D) The practice of Dumping
Development lndex(HDl) ?
38. Which of thefollowing is notincluded (A) Health
in Current Account of balance of (B) Education
payments ? (C) Gender Equality
(A) Merchandise (D) Standard of living
(B) Foreign investment 42. What is the correct sequence of the
(C) Transfer payments following approaches to development
(D) TravelandTransportation in terms of their chronological
emergence ?
39. The IMF corrects which of the
1. Basic needs approach
following in balance of payments ?
2. Percapita income approach
(A) Fundamentaldisequilibrium 3. Human Development lndex
(B) Structuraldisequilibrium approach
(C) Seculardisequilibrium Select the correct answer using the
(D) SDRs codes given below :
(A) 1-2-3
40. Which one of the following does not
constitute a part of the jurisdiction of
(B) 2-1-3
WTO ? (c) 2-3 - 1
(A) Regionaltradeagreement (D) 1-3-2
rw - 3/34 (e) (Tum over)
Text of page 10
43. Capital fundamentalism refers to (C) Rateof growthof labour= Rate
which of thefollowing ? of growth of capital
(A) Capitalstructureofacountry (D) Rate of growth of population =
(B) Acceleratiort of capital Rate of growth of income
accum u lation for development
46. Use of different production functions
(C) Acapitalistsystem of economy in the modern sector and the
(D) Grovyth of capitalexpenditure traditional sector is identified as :
44. Which of thefollowing is required for (A) SocialDualism
steady growth in the Harrod's (B) FinancialDualism
mode!? (C) TechnologicalDualism
(A) G>Gw<Gn (D) !ntemationalDualism
(B) G=G*=Gn
47. Suppose there are three curvesA, B
(C) Al > ao and C corresponding to the degrees
AI AY
(D) i=?.o" of distribution of income among
population of three sections. The
45. Joan Robinson's modelof economic
curve B is farther and curve C
growth enunciates that there is
. remains farthest from the diagonal
GoldenAge equilibrium when :
line A. Which is the line of Equal
(A) Forward linkages = Backward Distribution of income ?
linkages
. (A) CurveA
(B) Actual rate of capital
(B) Curve B
accumulation is less than
a
(C) Curve C
. Desired rate of capltal
(D) Both the curves B and C
accumulation
tw- 3/34 (10) Contd
Text of page 11
48. The Multidimensional Poverty lndex (C) PoorGovemance
(MPl) has been introduced bY the :
(D) Corruption in public Iife
(A) NSSo
51. Green field investment implies :
(B) UNDP
(A) Foreign Direct lnvestment of a
(C) NlTlAayog
(D) cMlE parent company in a new
venture in aforeign country
49. Which of the following is not the
influence of change of institutions in (B) Investment in ecological
economic development ? balance
(A) Changes in attitude (c) lnvestment in Shares and
(B) Technological innovations Bonds
(C) Rural-urbanimbalance
(D) lnvestment by Non-resident
(D) Growth of entrepreneurship
!ndians
50. The idea of 'Soft State' used by
52. Which one of the following is not a
Gunnar Myrdalin his'Asian Drama'
means: component of foreign aid of a
(A) Laxity in administration bythe country?
State Machinery and lenient (A) BilateralGrant
attitude of State towards social
(B) MultilateralGrant .
deviance
(C) Grants from lnternational
(B) Non-economic and other
Financial lnstitutions
attitudinal changes laging
behind materiat changes (D) Commercialbonowing
tw- 3/34 ( 11 ) (Tum over)
Text of page 12
53. The Prebisch-Singer hypothesis climate change for environmental
enunciateswhich of thefollowing ? sustainability ?
(A) lnternational trade has been (A) Use of non-fossilfuels
operating as a mechanism of
(B) Promoting clean and
intemational inequalities
renewable energy
(B) lmport substitution has led to
(C) Establishment of more forest-
the malallocation of resources
based industries
(C) Foreign trade encourages
(D) S'trategic DisasterManagement
healthy competition
56. The ContingentValuation Method :
(D) Economic development is
(A) Elicits information on
accelerated by dualistic nature
willingness to pay or
of the economy
willingness to accept
54. The most popular definition of
compensation
Sustainable development is given
(B) Relies on time and travelcosts
by:
(C) Reflects individuals payment
(A) UNDP
for both environmental assests
(B) rMF
and non-environmental
(C) BrundtlandCommission characteristics
(D) |BRD (D) Use of 'Option Value' for
55 Which of the following is not a postponing the use of the
mitigation and adaptation strategy to environmental resources
tw- 3/34 (12) Contd
Text of page 13
t'
57. Which of the following is not (c) Adoption of physical capital
associated with the Coase theorem ? deepening methods
(A) Property rights are clearlY (D) Education, Housing and control
defined of Population growth
,.
(B) Low bargaining cost 60.'Outofpocketexpenditure' on health
(C) Govemmentalinterference care relates to the problem of :
(D) Justification of bribe (A) Availability of health
infrastructure
58. Which of the following is not a
(B) Affordabilityin private hospitals
component of Social Forestry
at highercost
Programme ?
(C) Quality and Regulatory
(A) Farm Forestry
Stdndard on health parameters
(B) PublicWoodlots
(D) Paymentoffinancialincentives
(C) CommunityWoodlots
and health insurance to the
(D) CentralisedManagement beneficiaries
59. Human capital formation includes 61. What is the sex ratio in lndia
investmenton according to 2011 Census ?
(A) Education, Health and Social (A) s33
Security (B) e38
(B) Education, Health and (c) e40
Training (D) e46
lw- 3/34 (13) (Tum over)
Text of page 14
62. Demographic Dividend means 64. National lncome of lndia is estimated
(A) Population explosion due to by:
high birth rat€ and low death (A) Central Statistical
Organisation
rate
(B) NlTlAayog
(B) The working population in the
(C) lndian Statistical lnstitute
productive age group 15-64
(D) Centre for Monitoring lndian
years leading to a rise in the
Economy
rate of economic growth
(C) lncrease in the dependency 65. The NlTl Aayog was established
reptacing the Planning Commission
ratio
on:
(D) Work Participation rate of
(A) March 1,2017
womenonly
(B) November8,2016
63. Which Five Year Plan in lndia (C) July 1 ,2015
for the first time emphasised (D) January 1,2015
sustained groMh of Software and
66. Structunal transformation of the ndian
!
lnformation Technology (!T) enabled
economy due to the sectoral
services ?
changes- in National lncome is :
(A) Ninth FiveYearPlan (A) lnclusiveGrowth
(B) Tenth FiveYear Plan (B) Equitable Growth
(C) Eleventh FiveYear Plan (C) Services-ledGrowth
(D) TwelfthFiveYearPlan (D) Sustainable Growth
lw- 3/34 (14) Contd.
Text of page 15
67. Who is the author of the book (B) 2oo5
'Planned Economy for tndia' ? (c) 1e56
(A) M. Visvesvaraya (D) 1ee1
(B) D. R. Gadgil
71. Which lndustrial Policy abolished
(C) P. C. Mahalanobis
industriallicensing ?
(D) DadabhaiNaoroji
(A) 1e48
68. Which of the foltowing is a Kharif (B) .1e56
Crop ?
(c) 1e80
(A) Rice
(D) 1ee1
(B) Wheat
72. Which of the following is a type of
(C) Gram
foreign collaboration in lndia ?
(D) Mustard
(A) Joint participation between
69. Rural tnfrastructure Development
indigeneous firms and foreign
Fund (RIDF) is a product of :
govemments
(A) RBI
(B) Joint'participation between
(B) NABARD
foreign firms and lndian
(c) sEBl Government
(D) UTl
(C) Joint participation between
70. Special EconomicZones(SEZs)Act foreign PSUs and lndian PSUs
was passed in the year:
(D) Joint participation between
(A) 2000 foreign MNCs and lndian PSUs
rw-3/34 ( 15 ) (Tum over)
Text of page 16
73. To lower interest rates the RBI 76. The newprogramme launched since
should 2008-09 by merging two earlier
programmes PMRYand REGP is:
(A) Buy Securities
(A) SGSY
(B) Decrease the money supply
(B) MGNREGS
(C) RaisetheTreasuryBill rate
(c) PMEGP
(D) Raise the reserve requirement
(D) SJSRY
74. With which the Call Money market 77. 'World Economic Outlook Report' is
deals ? published by:
(A) Long term funds (A) rMF
(B) Veryshortterm funds (B) World Bank
(C) Selling and buying of equities (c) wro
(D) Selling and buying of (D) ADB
Govemment securities 78. The United Nations reframed
8 Millennium Development Goals
75. Who has advocated 'Providing
(MDGs) for the period 2000-2015
Urban Amenities in Rural Areas'
into 17 corresponding SustainabLe
(PUR{) for alleviating poverty in
Development Goals(SDGs) for the
lndia ? period:
(A) A. P. J.AbdulKalam (A) 2015-2025
(B) Amartya Sen (B) 2015-2035
(C) B. S. Minhas (c) 201s-2050
(D) Nilakanth Rath (D) 2015-2030
lw-. 3/34 (16) Contd.
Text of page 17
79. Thefemale literacy rate in Odisha as (C) f(x) has no maximum and no
per 2011 Census is : minimum
(A) 81.6% (D) Maxf(x) < minf(x)
(B) 72.9o/o
82. lf x = 25 - 3p - p2 be a demand
(C) 64.00/o
function, then the point elasticity of
(D) 68.3%
demandatp-3is
80. Which of the following is not an
27
(A) 7
objective of the Odisha MSME
27
Development Policy, 201 5 ? (B) T
(A) To provide conducive eco-
(c) 288
system to attract new industries
(B) To enhance competitiveness of (D) 26s
MSME sector
83. Using .lntegration, the area of the
(C) To develop world class
region bounded between the lines
lnfrastructure
x=2andx= 1 underthecurve y=*
(D) To provide opportunities to
is:
local entrepreneurial talents
(A) ;I sQ. units
81. Letf(x) =x+x-1 then :
7
(A) f(x) has a maximum but no (B)
5
sQ. units
minimum 5
(c) units
7sq
(B) f(x) has no maximum but a
minimum
(D) 11s tq units
lw - 3/34 (17 ) (Turn over)
Text of page 18
84. The demand and costfunctions of a AZ. The arithmetic mean of Series A is
monopolist are given by P = 20 -Sx twice that of Series B and the
and C = 10x + 2. The maximum profit
standard deviation of Series B is
IS
twice that of SeriesA. The coefficient
(A) 02
of variation of Series A in relation to
(B) 05
that of series B will be :
(c) 10
1
(A)
(D) 08 4
1
85. What is the area bounded by x = eY, (B)
2
x=0,y=0andy=1?
(c) Same
(A) e sq. unit
(D) Twice
(B) (1 - e) sq. unit
88. ln a certain distribution, the results
(C) (e - 1) sq. unit
were obtained as X = 45,
(D) (.2 - t)sq. unit
Median = 48 and Coefficient of
86. lf the value of the objective function Z
skewness = - 0.3. What is the value
can be increased or decreased
of Standard Deviation ?
indefinitely, such solution is called
(A) 20
(A) Bounded Solution
(B) 25
(B) Unbounded Solution
(C) Solution (c) 28
(D) lnfeasibleSolution (D) 30
tw- 3/34 (18) Contd
Text of page 19
89. The standard deviation of natural 92. Which of the following is not correct
numbers 1 to 10 will be relating to RegressionAnalysis ?
approximately equal to : (A) Regression studies the nature
of relationship between two
(A) 1.78
variables X and Y.
(B) 2.68
(B) Obtaining the regression line of
(c) 2.87
Y on X by the line of best fit
(D) 1.64
Yc =a+bx.
90. lfthedistribution ispositivelyskewed (C) Thetworegressioncoefficients
then bryyx
and b are svmmetric.
(A) Mode > Median > Mean (D) When there is either perfect
positive or perfect negative
(B) Mean > Median > Mode
correlation between two
(C) Mean < Mode < Median
variables (r = tl), the two
(D) Median < Mode < Mean
regression lines will coincide.
91. lf the two regression coefficients
93. lf P(A) = 0.3 and P(B) = 0.5 then
yx = -
xy - 0.5 and [.^.
b.^. = 1.5 then the
P(Au B) whenAand B are rnutually
correlation coefficient'r' would be : exclusive woutd be :
(A) + 0.78 (A) 0.3
(B) + 0.86 (B) 0.5
(c) - 0.86 (c) 0.4
(D) - 0.e8 (D) 0.8
lw- 3/34 (1e) (Tum over)
Text of page 20
94. One card is drawn from a standard (B) Bias due to the faulty collection
pack of 52 cards. What is the methods
probability that it is either a king or (C) Bias due to the wrong
a queen ? analysis
(A)
1 (D) Errors in.data processing
13
operations
1
(B)
52
97 . Which of the following formula is used
2
(c) to test the significance of the mean
13
1
of a random sample given the
(D)
4 population mean ?
95 The sampling method adopted when
(A)
.
I=-X
Xr-Xz Ilt IIZ
S n1+n2
units of the population are numerically,
geographically or alphabetically (B)
. X-pG
l=-
S
arranged is called as :
(c) . a"fi
L_
S
(A) Simple Random Sampling
r
t-
(B) SystematicSampling (D)
W *Jn-2.
(C) Quota Sampling 98. lf we accept a Null hypothesis (Ho)
(D) Multi-StageSampling when it is false, we make:
96. Which of the following is Non- (A) Type-lError
Sampling error ? (B) Type-llError
(A) Bias in the process of sample (C) Standard Error
selection (D) Probable Error
lw- 3/34 (20) Contd.
Text of page 21
99. Which of the following is not a 100. ln lntervalEstimation of a population
parameterwhen L < 0 < U, 0 is an
property of good estimator ?
estimator then L and U are called :
(A) Representative
(A) Lower limit and Upper limit
(B) Consistency
(B) Levels of Significance
(C) Efficiency (C) Confidence limits
(D) Sufficiency (D) Error limits
TIIITTTITIIIIII
tw- 3/34 (21) (Turn over)
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SPACE FOR ROUGH WORK rw- 3/34 (22) Contd
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SPACE FOR UGH WORK tw-3/34 (4,260) (23)- Economics
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Official key not published for this paper.
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Source: State Selection Board. Question paper published by State Selection Board.