1. The value of a commodity according to Marx is:

Directly related to productivity.

Unrelated to productivity.

Indirectly related to productivity.

Inversely related to productivity.

2. Paul Sweezy,Maurice Dobb, Robert Brenner are names associated with

The Transitive Debate

The Transition Debate

The Transaction Debate

The Transcending Debate

3. Which of the following is associated with the concept of 'Deskilling'?

Theodore Schultz

Amartya Sen

Harry Braverman

Michael J. Sabel

4. Formalism in economics refers to use of in bUilding economics theories.

Statistics

Mathematics

Definitions

Formal Statements

5. After the Independence of India, JC Kumarappa Committee was constituted to suggest a comprehensive policy of

Social Reforms

Cooperative Movement

Land Reforms

Agrarian Reforms

6. In Ricardian model of growth, economy is likely to reach a stationary state due to the distributive conflict between:

Workers and Capitalists

Capitalists and Landlords

Landlords and Workers

Consumers and Producers

7. The,book titled: "Capital in 21st Century" is authored by:

Joseph Stiglitz

Raghurama Rajan

Thomas Picketty

Herald Mynsky

8. Which of the following agencies estimate and publish "Whole Sale Price Index" in India?

Central Statistical Organization

N.S.S.O.

Ministry of Finance

Reserve Bank of India

9. Orthodox view in economics holds that either bond-financed (through deficit financing) or tax-financed public expenditure leads to internalised expectations about future taxes, resulting in no change in aggregate demand for public spending. This is known as:

Ricardian Equivalence

Crowding out Effect

Money Neutrality

None of the above.

10. A statistic is defined as:

A discipline

Data

Any measure obtained from the sample

All the above.

11. 'Simple' production means:

Producing with traditional techniques of production

Producing simple consumer goods

A capitalist system where there is no accumulation

None of the above.

12. The 'inverse relation' debate in Indian agriculture refers to a situation where:

Profitability increases with size of holding

Productivity per acre decreases with increases in size of holding

Input use decreases with increase in size of holding

All the above.

13. A stochastic process is said to be weakly stationary when

Its mean is zero

Its variance is constant

Its covariance is independent of time

It is free from time trend

14. Which of the following is a unit root test?

Johansen-Juselius test

ARDL Bounds test

KPSS test

Ljung-Box test

15. A random walk process is:

Mean reverting

Non-stationary

Used to predict future prices

Associated with non-linear processes only

16. Structure Adjustment undertaken as a conditionality of IMF bailout loan in 1991 by India did not include among the following:

Devaluation of rupee

Reduction of fiscal deficit

Rationalisation of indirect taxes

Increase in public investment

17. Cointegration is associated with:

Non-Stationary processes

Long-run equilibrium relationships

Error correction

All the above.

18. GARCH models deal with

Historical volatility

Implied volatility

Stochastic volatility

Deterministic time varying volatility

19. Which of the following methods/ models are not atheoretical?

Econometric models

Time Series models

Cross-spectral methods

Wavelets methods

20. High frequency data refers to data of

Monthly frequency

Weekly frequency

Tick-by-Tick frequency

Daily frequency

21. Philips curve in the long-run becomes vertical because of:

Acceleration theorem

Natural rate of unemployment

IAflationary expectations on the part of the job seekers

All the above.

22. New c1assicals believe in

Rational expectations

Instantaneous clearance of markets

Real business cycle theory

All the above.

23. Exchange rate overshooting is associated with:

R. Dornbusch

Paul Krugman

Mundell-Fleming

Anne Krueger

24. The 'quantity theory of money' assumes that:

The equation of exchange is an identity

The real interest rate is constant

The direction of causation runs from money supply to general level of prices

All the above.

25. Which one of these statistics is unaffected by outliers?

Mean

Interquartile range

Standard deviation

Range

26. One hundred people were asked, "Do you favour stronger laws on gender-based violence?" Of the 33 that answered "yes" to the question, 14 were male. Of the 67 that answered "no" to the question, six were male. The probability that a randomly chosen respondent is a male given that the respondent does not favour the gender-based violence law is

14/33

19/33

1/5

6/67

27. Suppose you deposit Rs. 1,000 in an account that pays 12% interest, compounded quarterly. How much will be in the account after eight years if there are no withdrawals?

Rs.2575.10

Rs. 2475.15

Rs. 2500.20

Rs.2525.18 5

28. In a well diversified portfolio:

Market risk is negligible

Unsystematic risk is negligible

Systemic risk is negligible

Nondiversiflable risk is negligible

29. An investor buys a Treasury bill maturing 1 month for Rs. 987. On the maturity date the investor collects Rs. 1000. Calculate Effective Annual Rate (EAR).

17.0%



13.0%

11.6%.

30. Find out the value of the definite integral

src='./qimages/8054-30-1b.jpg'>







0 and 2

31. If five conformable matrices are such that then the transpose of P is







(MNYK

32. The multi-objective programming problem at the first stage formulation, in general, does not give the unique optimal solution but it gives only

The strong maximum value to the objective function

The strong minimum value to the objective function

The satisficing solution among non-dominated alternatives

The solutions to all constraints

33. In a simultaneous equation model, the number of equations to be estimated is

One more than the number of endogenous variables

Equal to the number of exogenous plus endogenous variables

Equal to the number of exogenous constants minus one

Equal to the number of endogenous variables

34. The tYpe of regression models that use censored data is

The Linear Probability Model

The Logit Model

The Tobit Model

The Probit Model

35. The slope coefficient in the logit model measures:

The elasticity of change of explanatory variable

The change in the average value of the regressand for a unit change of a regressor

The change in the probability of an event occurring as a result of a unit change in value of a regressor

The change in the log of, odds associated with a unit change in value of a regressor

36. If a quantitative variable has N categories, the analysis requires use of:

Only N dummy variables

Only N+1 dummy variables

Only N dummy variables

Only N*N dummy variables

37. If multicollinearity is perfect in a regression model, then the regression slope coefficients of explanatory variables are

Determinate

Indeterminate

Infinite values

Small negative values

38. The regression coefficients estimated in the presence of autocorrelation are NOT

Unbiased estimators

Consistent estimators

Efficient estimators

linear estimators

39. The problem of heteroscedasticity may result due to the presence of

Outliers in the sample data

Omission of important explanatory variable in the model

Skewness in the distribution of regressors in the model

All of the above.

40. For the Binomial distribution with parameters n and the variance cannot exceed

where n is the number of trials and p is the probability of success.

np, where n is the number of trials and p is the probability of success.

where n is the number of trials.

where n is the number of trials.

41. For a Poisson distribution, it is found that the mean is 6 and variance is 5. The statement or result is:

True

False

Difficult to determine

None of the above.

42. Which one of the following statements is NOT correct?

t-test and F-test are parametric tests and Chi square test is generally a non parametric test.

t-test and F-test and Chi square test are generally non-parametric tests.

Small sample tests like t-test can be used even for large samples but, reverse is not always true.

Normal test is basically designed to test the hypothesis in large samples.

43. The determinant value of the following matrix is
9 8 7
6 5 4
3 2 1


55

-65

4

Zero

44. When is the equivalent variation equal to compensatory variation which is equal to consumer surplus?

When income effect is equal to zero

When income effect is less than one

When income effect is equal to substitution

When income effect is greater than one

45. A good is subject to periodic increase in supply. Each time when the supply increases, the supplier finds the total revenue decreasing. (in this case, which of the following must be true for the good?

It is an inferior good

The supply is price inelastic

The demand is price inelastic

None of the above.

46. The term increasing cost industry is used to describe

A firm with a rising average cost curve

An industry subject to decreasing returns to scale

An industry with rising marginal cost curve

An industry in which the prices of one or more inputs are bid up as output expands

47. Suppose that duopolists face the following market demand function: P 30 where Q1 Q2. Also, suppose that both firms have zero marginal cost. Find the total output produced in a Cournot equilibrium.

10

15

20

25

48. Does a profit-maximizing bundle exist for a technology that exhibits constant returns to scale as long as there is some point that yields positive profits?

Yes

No

Need more information

Cannot say

49. A market for first hand cars does not have an adverse selection problem as

Information is symmetrical

Information is asymmetrical

Information is complete

None of the above.

50. The following production function has the property of constant factor income shares in the face of changing factor prices:

CES production function

Transcendental production function

Cobb-Douglas production function

None of the above.

51. The equilibrium based on demand and supply must

Exist

Be unique

Be stable

Any of the above.

52. Keynes' theory is considered 'general' because

The level of activity can settle at any level

It is a preliminary theory of output and employment

It is not amenable to any specific policy interventions

None of the above.

53. Ricardo's 'marginal land' is

No rent land

The land of second grade

The additional dose of land applied to a given quantity of labour

None of the above.

54. The main factor behind India's high inflation in recent years is

Fuel prices

Food inflation

High fiscal deficits

High interest rates

55. Beginning with an autarky (no-trade) situation with Heckscher-Ohlin model, if Country H is relatively labour abundant, then after trade

Wages and rents should rise in H

Wages and rents should fall in H

Wages should rise and rents should fall in H

Wages should fall and rents should rise in H

56. External economies of scale arise when cost per unit

Rises as the industry grows bigger

Falls as the industry grows bigger

Falls as the average firm grows bigger

Remains constant

57. Monopolistic competition is associated with

Cut-throat price competition

Product differentiation

Explicit consideration at firm level of the feedback effects of pricing decisions of other firms

High profit margins

58. In case of scale economies, an increase in the size of the market will

Increase the number of firms and raise the price per unit

Decrease the number of firms and raise the price per unit

Increase the number of firms and lower the price per unit

Decrease the number of firms

59. The most common form of price discrimination in international trade is

Non-tariff barriers

Voluntary export restraints

Dumping

None of the above.

60. The prohibitive tariff is a tariff that

Is so high that it eliminates imports

Is so high that it causes undue harm to trade-partner economies

Is so high that it causes undue harm to import competing sectors

Is so low that the government prohibits its use since it would lose an important revenue source.

61. The Harris-Todaro model

Leads to a rejection of the import substitution strategy for economic development

Supports the protectionist strategy for economic growth

Implies that the free trade approach is not likely to promote economic growth "

Both B and c

62. The yield curve generally slopes upward because

Longer maturity bonds typically pay higher interest rates than shorter maturity bonds

Longer maturity bonds typically pay lower interest rates than shorter maturity bonds

Shorter maturity bonds have more default risk

Longer maturity bonds are not taxable

63. Which of the following is not part of Ml?

Demand deposits

Bank accounts

Time deposits

Other deposits

64. An increase in expected inflation is likely to cause

A decline in the demand for real money balances

An increase in the demand for real money balances

No change in the demand for real money balances

No change in the demand for real money balances only if the income elasticity of real money demand is zero

65. According to Keynesian macroeconomists, prices adjust to shocks, so that the government should

Slowly; do little

Rapidly; do little

Rapidly; fight recessions

Slowly; fight recessions

66. The effort curve is

Horizontal, because work effort is independent of the real wage

Negatively sloped, because of diminishing marginal returns to labour

Positively sloped, because of the law of increasing cost

S-shaped, because a small increase in the real wage will increase work effort more at an intermediate wage than at a low wage or at a high wage

67. The distinguishing feature that determines whether an analysis is classical or Keynesian is:

The speed of price adjustment

The slope of the aggregate demand curve

The degree of monopoly power in the economy

The assumption about the transmission mechanism of monetary policy.

68. Purchasing power parity does not hold in the short to medium run because:

Exports do not equal imports

Exchange rates fluctuate too much

Some goods are not internationally traded

Most business cycles are caused by shocks to aggregate demand

69. Which of the following elasticities measure a movement along a curve rather than a shift in the curve?

Price elasticity of demand

Income elasticity of demand

Cross elasticity of demand

None of the above.

70. The Inflation expectation survey of the Households is conducted by

CSO

NSSO

Ministry of Finance

RBI

71. Convenient sampling is an example of

Probabilistic sampling

Stratified sampling

Non-probabilistic sampling

Cluster sampling

72. The recent monetary policy directed banks to price their lending rates based on

Marginal cost of funds based lending rates

Average cost of funds based lending rates

Prime lending rate

None of the above.

73. India's rank in HDI in the year 2015 is

135

130

132

134

74. The current foreign exchange reserves in India is about

350 billion US Dollars

450 billion US Dollars

600 billion US Dollars

200 billion US Dollars

75. The Monetary policy committee announced in the budget 2016 primarily aims at

Targeting inflation

Targeting interest rates

Targeting growth

Band C