Inequalities in income are measured by which of the following ?
(a) Lorenz Ratio
(b) Theil's Index
(c) Palma Ratio
(d) Deprivation Ratio
Choose the correct answer from the option given below :

In which of the followingways have there been structural changes in agricultural and rural areas in India ?
(a) Crop diversification within agriculture sector
(b) Diversification from livestock to crop husbandry
(c) Diversification from non-commercial crops to commercial crops
(d) Diversification from traditional inputs to modern inputs
Choose the correct answer from the option given below :

With reference to the programme 'NIDHI' which of the following statement(s) is/are CORRECT ?
(1) The programme of 'NIDHI' was started for students to begin statups
(2) Its aim is to financially support 20 students for startups each year
(3) Its aim is to financially support 200 students for statups each year
(4) Its aim is to financially support only students of backward classes to start up each year
Choose the correct answer from the option given below :

Which of the following statements are CORRECT in regard to FDI in India in FY 2020 ?
(A) Share of services sector is highest
(B) Share of infrastructure activities is highest
(C) Share of computer hardware and software is in the second position
(D) Share of telecommunications is highest
Choose the correct answer from the option given below :

Consider the following statements about the rational expectations model :
(1) Monetary policy cannot affect output and employment
(2) Unanticipated changes will not affect real variables in the very short run
(3) There is equilibrium in the markets
(4) Economic agents use all relevant available information to form their expectations
Choose the correct answer from the option given below :

In the context of investments, which of the following statements(s) is/are CORRECT ?
(a) According to the accelerator model, investment demand is proportional to change in income
(b) The higher the real interest rate, the higher is the rental cost of capital
(c) Investment is a stock variable
(d) The real rate of interest is equal to the nominal rate of interest plus the inflation rate
Choose the correct answer from the option given below :

Which of the following statement are CORRECT for correlation analysis ?
(a) Degree of linear association is measured between two variables
(b) Predictability is not part of correlation analysis
(d) Spearman has no contribution to correlation analysis
(d) Cause and effect relationship is established through correlation analysis
Choose the correct answer from the option given below :

Which of the following are NOT properties of Cobb-Douglas production function ?
(a) Cobb-Doulglas production function is a homogeneous production function
(b) Curve representing average and marginal productivity of inputs are not downward sloping
(c) Marginal productivity of labour and capital in Cobb-Douglas production function are functions of the capital-labour ratio
(d) Iso-quants of Cobb-Douglas production functions are positively sloped
Choose the correct answer from the option given below :

Improvement in the balance of payments deficit may be effected through :
(a) Import controls
(b) Export promotion
(c) Foreign exchange control
(d) Devaluation
Choose the correct answer from the option given below :

Which of the following are relavant conditions assumed by the Factor price Equalization theorem ?
(1) The countries are characterized by different factor endowments
(2) The countries are characterized by different production functions
(3) The industires are characterized by different factor inensities
(4) Each country will export the commodity which uses it abundant factor
Choose the correct answer from the option given below :

Zero Based Budgeting (ZBB) lays emphais on :
(a) Allocation of resources based on cost-benefit terms
(b) Unlimited deficit financing
(c) Preparing a new budget, right from the scratch
(d) Preparing the budget, neglecting the history of expenditure
Choose the correct answer from the option given below :

Which of the following statements are relevant for Gender Budgeting ?
(1) Preparing a separate budget fo women
(2) Gender budget is not practised by the Government of India
(3) Evaluating budgetary provisions with a gender perspective
(4) Gender budgeting is a tool for Gender Empowerment
Choose the correct answer from the option given below :

Which of the following are true for the Environmental Kuznets Curve (EKC) ?
(a) The relationship between income and Environmental damages take the shape of an inverted U
(b) EKC is applicable in case of irreversible environmental damage
(c) EKC holds true for global pollutants
(d) EKC hypothesis intends to represent a long term relationship between economic growth and pollution
Choose the correct answer from the option given below :

Which of the following statement(s) is/are CORRECT for environmental evaluation ?
(a) Travel cost method measures the recreational values of Environmental Resources
(b) Hedonic pricing is used for environmental amenities associated with property value
(c) Replacement cost method is used by substituting natural resources with a man-made equipment
(d) Defensive expenditure deals with preventive measures
Choose the correct answer from the options given below :

Match the List – I with List – II :
      List – I                                                        List - II
(a) Perfect competition                              l. Many real or perceived differences in products
(b) Monopoly                                             ll. Litle or no difference in products
(c) Monopolistic competition                     lll. Identical products
(d) Oligopoly                                             lV. Product without close substitutes
Choose the correct answer from the options given below :

Match the List – I with List – II :
    List – I                                                                             List - II
(a) Menu cost                                                                 I. Monetary Policy
(b) Quantitative Easing                                                  II. Inflation
(c) Pump Priming                                                          III. Phillips curve
(d) Trade-off between inflation and unemployment      IV. Fiscal policy
Choose the correct answer from the options given below :

Match the List – I with List – II :
List – I                                         List - II
(a) Carl Friedrich Gauss            I. Central Tendency
(b) Multicollinearity                    II. OLS
(c) Mode                                   III. Karl Pearson
(d) Correlation coefficient         IV. Relationship among explanatory variables
Choose the correct answer from the options given below :

Match the List – I with List – II :
   List – I                                                                List - II
(a) Convex Function                                          I. Basic variable
(b) Input-Output Analysis                                  II. Use of Derivative
(c) Linear Programming                                    III. Hawkins-Simon condition
(d) Marginal Propensity to Consume                IV. Demand Curve
Choose the correct answer from the options given below :

Match the List – I with List – II :
    List – I                                                                         List - II
(a) Supply side of International Trade                        I. David Ricardo
(b) Demand side of International Trade                     II. Bustable and Alfred Marshall
(c) Opportunity cost of International Trade                III. G. Haberler
(d) Real cost theory of International Trade                IV. Alfred Marshall and Edgeworth
Choose the correct answer from the options given below :

Match the List – I with List – II :
      List – I                                                                                     List - II
(a) Canons of Taxation                                                                 I. U. K. Hicks
(b) Canons of Public Expenditure                                                II. Adam Smith
(c) Effective Incidence of Tax                                                      III. Findlay Shirras
(d) Benefit received approach of Public Expenditure                 IV. Erik Lindahl
Choose the correct answer from the options given below :

Match the List – I with List – II :
List – I                                                                                                               List - II
(a) Security Exchange Board of India (SEBI)                                                  I. 1991
(b) National Securities Depository Ltd (NSDL)                                                II. 1992
(c) Credit Rating Information Service of India ltd (CRISIL)                              III. 1988
(d) Investment Information and Credit Rating Agency of India (ICRA)            IV. 1996
Choose the correct answer from the options given below :

Match the List – I with List – II :
     List – I                                                           List - II
(a) Adam Smith                                               I. Theory of Big Push
(b) R. Rodan                                                   II. Traditional Society
(c) W. W. Rostow                                            III. Reserve army of labour
(d) Karl Marx                                                   IV. Division of labour
Choose the correct answer from the options given below :

Match the List – I with List – II :
         List – I                                                                                                                                                   List - II
(a) Conserving the Environment for benefit of the future generation                                                        I. Indirect use value
(b) Search of Alternative fuels is necessary because traditional sources are non-renewable                  II. Option Value
(c) Wood from the forest is useful as timber                                                                                             III. Bequest Value
(d) Insects are important as they help in pollination                                                                                 IV. Use Value
Choose the correct answer from the options given below :

Match the List – I with List – II :
     List – I                                                                       List - II
(a) NIRVIK                                                                  I. A project directed to provide piped cooking gas to millions of households
(b) Ayshman Bharat                                                   II. A scheme to enhance energy efficiency
(c) Pradhan Mantri Urja Ganga (PMUG)                   III. Export credit insurance scheme
(d) Perform, Achieve and Trade (PAT)                       IV. Programme related to health issues in the primary, secondary and tertiary sectors
Choose the correct answer from the options given below :

Arrange the following concepts of consumer behaviour in chronological order
(a) Law of diminishing marginal utility
(b) Law of demand
(c) Revealed Preference Analysis
(d) Indifference Curve Analysis
Choose the correct answer from the options given below :

Arrange the following business cycles in ascending order in terms of their approximate duration .
(a) Kondratiev cycle
(b) Kitchin cycle
(c) Jugular cycle
(d) Kuznets cycle
Choose the correct answer from the options given below :

Identify the proper sequence in the traditional econometic methodolgy of conducting research :
(a) Data collection
(b) Policy prescription
(c) Testing of hypothesis
(d) Formulation of hypothesis
Choose the correct answer from the options given below :

What is the CORRECT sequence of the following ?
(a) Uruguay Round
(b) Kennedy Round
(c) Doha Round
(4) Geneva Round
Choose the correct answer from the options given below :

Arrange the introduction of the following taxes in India in chronological order :
(a) Service Tax
(b) Income Tax
(c) Banking Transaction Tax
(d) Gift Tax
(e) Goods and services Tax
Choose the correct answer from the options given below :

Arrang ethe following committees appointed for the Banking sector in India in chronological order :
(a) Urjit patel Committee
(b) Goiporia Committee
(c) Narasimham Committee - I
(d) Chakravarty Committee
Choose the correct answer from the options given below :

Arrange the following in chronological order in which they were introduced :
(a) SDGs
(b) MPI
(c) PQLI
(d) HDI
Choose the correct answer from the options given below :

Arrange the following United Nations Framework Convention on Climate Change (UNFCCC) conferences in chronological order :
(a) Copenhagen Conference
(b) Doha Conference
(c) Paris Conference
(d) Katowice Conference
Choose the correct answer from the options given below :

Consider some of the schemes/programs introduced by the government of India to enhance agriculture productivity and farmer's income. Arrange them in chronological order of their appearance.
(a) Soil Health Card Scheme
(b) Kisan Credit Card Scheme
(c) Pradhan Mantri Fasal Bima Yojna
(d) Doubling Farmers' income Program
Choose the correct answer from the options given below :

Arrange the following Committees of poverty estimation in chronological order :
(a) Alagh Committee
(b) Lakdawala Committee
(c) Tendulkar Committee
(d) Rangarajan Committee
Choose the correct answer from the options given below :

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : A lumpsum tax imposed on a monopolist cannot be shifted to the consumers.
Reason (R) : The lumpsum tax becomes a part of his fixed cost and it does not affect the marginal cost of production.
In the light of the above statement, choose the most appropriate answer from the options given below :

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : There is no incentive for a profit maximising producer to supply public goods.
Reason (R) : If he produces, it, he is unable to exclude people from consuming it and hence he cannot charge a price.
In the light of the above statement, choose the most appropriate answer from the options given below :

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : New capital accumulation is the vehicle of technical progress.
Reason (R) : Technical progress is embodies in new machines.
In the light of the above statement, choose the most appropriate answer from the options given below :

Given below are two statements
Statement I (A) : Social Welfare Function(SWF) is a soft of social indiffernce map consisting or the Social Indifference Curves (SICs) which shows the various combination of utilities that gives the same level of social welfare (SW)
Statement II (R) : Social Indifference Curves (SICs) may no be convex or cocave to the origin
In the light of the above statement, choose the most appropriate answer from the options given below :

Given below are two statements
Statement I (A) : One of the assumptions under OLS method states that the regresion model is linear in the parameters, though it may or may not be linear in the variables.
Statement II (R) : The variance of the error, or disturbance, term is not the same regardless of the value of the explanatory variable under OLS.
In the light of the above statement, choose the most appropriate answer from the options given below :

In the study of International Economics, we use the tools of :

Match the List – I with List – II :
         List – I                                                                              List - II
(a) Karl Marx Theory of Population growth                             (i) Static interpretation
(b) Blacker’s Theory of Population growth                             (ii) Three stages
(c) Landry’s Theory of Population growth                              (iii) Four stages
(d) Prof. Sidgwick’s Optimum Population Theory                  (iv) Five stages
Choose the correct option from those given below :

Given below are two statements  : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A)  : High powered money is the source of all other forms of money that impact money supply.
Reason (R) : Credit is created by commercial banks.
In the light of the above statement, choose the most appropriate answer from the options given below :

Which one of the following is a valid objective function as a linear programming problem ?

Transportation cost of trade affects :
(a) Pattern of trade
(b) Boundaries between tradable and non-tradable goods
(c) Global supply chains
(d) Boundaries of non-tradable goods
Choose the correct answer from the options given below :

Presence of asymmetric information in the market causes which of the following ?
(a) Adverse selection
(b) Marginal benefits of an additional unit of resources diminish with an increasing number of unit of resources
(c) Efficiency wages
(d) Principal-Aent problem
Choose the correct answer from the option given below :

For the production function, Q = AL^αK^ß
(a) The Coefficient A shows managerial efficiency
(b) If α + ß > 1, then the production function exhibits increasing return to scale
(c) Marginal Rate of Technical Substitution of L for K is given by 
(d) The Marginal Product of Capital is given by 
Choose the correct answer from the option given below :

Match the List – I with List – II :
              List – I                                                        List - II
(a) Critical Minimum Effor Theory                        (i) C.P. Blacker
(b) Neo-Classical Growth Model                         (ii) W.W. Rostow
(c) Demographic Transition Theory                     (iii) R. Solow
(d) Age of High Mass Consumption                    (iv) H. Leibenstein
Choose the correct option from those given below :

"The best system of taxation from the economic point of view is that which has the best or the least bad economic effects". Who said this ?

Labour force participation rate is given by :

The solution of the following game is given by
              

Given below are two statements.
Statement I : The endogeneous growth theorists suggest, investment in human capital, innovation and knowledge leads to economic growth.
Statement II : Investment in human capital, innovation and knowledge reduces the diminishing returns on investment.
In light of the above statements, choose the most appropriate answer from the options given below :

Which of the following equations represent national income identit ?
(a) Y = C + I + X
(b) Y = C + I + G + S
(c) Y = C + I + G + (X – M)
(d) Y = C + I + G + M
Choose the correct answer from the option given below :

Match the List – I with List – II :
       List – I                                                                                                  List - II
(a) Absolute Advantage Theory of International Trade                          (i) Heckscher Ohlin
(b) Factor Proportion Theory of Trade                                                  (ii) Marshall
(c) Offer Curves                                                                                    (iii) Adam Smith
(d) Opportunity Costs                                                                           (iv) Haberler
Choose the correct option from those given below :

Given below are two statements, one is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : If A is any Matrix given by A =  , then det A = 0 since all elements in column II are zero.
Reason (R) : Laplace expansion permits evaluation of a determinant along any row or column.
In the light of the above statement, choose the correct answer from the options given below :

According to traditional neoclassical growth theory, output growth results from :
(a) Increase in labour quantity and quality
(b) Increase in capital
(c) Increase in exports
(d) Improvement int echnology
Choose the correct answer from the option given below :

Match the List – I with List - II
     List – I                                              List - II
(a) Linear Function                            (i) y = 3x² + 2x+ 9
(b) Quadratic Function                      (ii) y = 5³
(c) Exponential Function                   (iii) y = 3e^2 x
(d) Power Function                           (iv) y = 5x+3
Choose the correct option from those given below :

Which one of the following statements is wrong ?

Cross elasticity of demand of metro rides is 9.8 and total ridership per day is 1.5 Lakh. If price of bus rides rises by 5%m, the change in total metro rides will be :

For any two equally likely, exhaustive and independent events A and B, P(AB) will be equal to :

Which one of the following Price Index number satisfy the Factor Reversal Test ?

Match the element of List – I with List – II :
        List – I                                        List - II
(a) Chamberlin                      (i) Small group model
(b) Sweezy                           (ii) Kinked demand curve
(c) Stackelberg                    (iii) Price leadership model
(d) Fellner                            (iv) Reaction curves
Choose the correct option from those given below :

The number of districts initially selected from states under the Intensive Area Development Programme (1960) .

Given below are two statements :
Statement I : The Rybczynski theorem postulates that at constant commodity prices, an increase in the endowment of one factor will increase by a greater proportion the output of the commodity, intensive in that factor and will reduce the output of the other commodity.
Statement II : The Stolper-Samuelson theorem postulates that an increase in the relative price of a commodity (for example as a result of a tariff) decreases the return or earnings of the factor used intensively in the production of the commodity.
In light of the above statements, choose the correct answer from the options given below :

Seigniorage in banking means :
(a) The economic cost of providing a currency within a given economy
(b) The difference between the face value of money and the cost of providing it
(c) The cost involved in running ATMs
(d) The costs of making debit/credit cards in an economy
Choose the correct answer from the option given below :

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : Marshall-Learner condition should be fulfilled for the success of devaluation.
Reason (R) : Devalution makes exports costly and Imports cheaper.
In the light of the above statement, choose the correct answer from the options given below :

If the distrubance term is heteroscedastic, which one of the responses based on given statements is true ?
(a) OLS estimates are biased
(b) OLS estimates do not have the minimum variance property
(c) Tests of significance based on OLS estimates will be inaccurate
(d) OLS estimates are incosistent
Choose the correct answer from the option given below :

According to Economic Survey, 2019, the top five trading partners of India continue to be USA, China, UAE and :
(1) Saudi Arabia
(2) Hong Kong
(3) Singapore
(4) Srilanka
Choose the correct answer from the option given below :

Given below are two statements :
Statement I : Learning curve effect is related to a firm's long-run average cost curve.
Statement II : A swapped allocation is one that is Pareto efficient as well as an equiable alocation.
In light of the above statement, choose the correct answer from the options given below :

Which of the following are foms of government borrowing ?
(1) Drawing from treasury
(2) Printing of currency notes
(3) Borrowing from non-bank public institutionsd
(4) Borrowingfrom the banking systems
Choose the correct answer from the option given below :

Arrange the following growth economists in chronological order of when they proposed their theories :
(a) Harrod
(b) Schumpeter
(c) Rostow
(d) Solow
Choose the correct option from those given below :

If no industry (sector) draws its own output as input, then the principal diagonal element in the Technological Coefficient Matrix will be :

The combined liabilities of Centre and States as a percentage of GDP during the two years 2016–17 and 2017–18 consolidated is at :

According to the last Census (2011), which Indian state has the minimum sex ratio ?

White revolution refers to boost in the production of :

Given the production function, Q = 10 L^0.8 K^0.2, the Marginal Product of Labour (MP_L) and Capital (MP_K), respectively are given by :
(1) MP_L = 8 (K/L)^0.2
(2) MP_L = 8 (L/K)^0.2
(3) MP_K = 2 (L/K)^0.8
(4) MP_K = 2 (K/L)^0.8
Choose the correct answer from the option given below :

Which of the following are Hawkins-Simon conditions ?
(a) Determinant A should be positive
(b) Determinant (I-A) should be positive
(c) Determinant (I-A) should be negative
(d) Principal diagonal elements of Matrix (1-A) should be positive
Choose the correct answer from the option given below :

Given below are two statements :
Statement I : Mrs Ursula K. Hicks stated that "Private finance, whether of firms or individuals, starts with a given income plan as a framework within which expenditure must be planned ; public finance, on the contrary, starts with a given expenditure plan and the authorities adjust their income by means of taxes and resources to match the expenditure"
Statement II : Prof. Shiras pointed out that "public authorities differ from private expenditure in that the former should balance income and should not necessarily seek as profit in the manner that an individiual would"
In light of the above statements, choose the correct answer from the options given below :

A leftward shift in labour demand curve is caused by :

Markowitz theory of portfolio management considers which of the following assumptions ?
(1) Investors are pessimistic about start-ups but optimistic about an established business
(2) Investors have free access to fair and correct information on return and risk
(3) Investors have a tendency to lean towards cryptourrencies
(4) Investors are rational and maximize their utility with a given level of income and money
Choose the correct answer from the option given below :

Harrod-Domar considers a functional economic relationship in which the growth rate of the gross domestic product depends :
(a) Direct on the national net savings rate
(b) Inversely on the national capital – output ratio
(c) Directly on industrial growth
(d) Inversely on agricultural growth
Choose the correct answer from the option given below :

Overshooting model of exchange rate developed by economist Rudi Dornbush, attempts to establish :

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : Compared to a certain point on the Contract curve, a point above the Contract curve is more efficient.
Reason (R) : The Contract curve represents the locus of points where the marginal rate of substitution between two goods is the same for both individuals.
In the light of the above statement, choose the most appropriate answer from the options given below :

Absolute income hypothesis explains :

The government multiplier is given by (where c = MPC and t = tax rate)

GDP expressed in terms of current prices is called :

A growth model in which there are diminishing returns on each factor of production but constant returns to scale and exogenous technological change that generates long term economic growth is the :

A time series, under the conditions E(xt) = µ and Cov (xt, xt+k) = y(k) is said to be :

Which one of the following is not the objective of IMF ?

Population Density refers to :

Forward exchange rates are useful for those who wish to :
(a) Protect themselves from the risk that the exchange rate will change before a transaction is completed
(b) Gamble that a currency will rise in value
(c) Gamble that a currency will fall in value
(d) Exchange curencies at a point in time in the future
Choose the correct answer from the option given below :

Maximum Social Welfare is guaranteed where a competitive firm exhibits the following condition [where MRPT_xy is Marginal Rate of Product Transformation of x for y]

The concept of Goods and Service Tax (GST) is originated in :

Which of the following are the three states which secured the highest percentage of intershare of tax revenue among states, as per recommendations of the 14th Finance Commission ?
(a) Uttar Pradesh
(b) Bihar
(c) Madhya Pradesh
(d) Andhra Pradesh
Choose the correct answer from the option given below :

Given the Total Cost, TC = Q³ – 10Q² + 60Q, what will be the Minimum average cost ? At what level of output will the minimum cost occur ? (Q is the level of output)

Given the Total Revenue function, TR = 1400Q – 6Q² and Total cost functions, TC = 1500 + 80Q at Q = 100 units (where Q is the amount of output), which one of the following responses is correct ?
(a) MR > MC
(b) MC = 80
(c) MR < MC
(d) MR = MC
In the light of the above statement, choose the most appropriate answer from the options given below :

Given the sample size 400 with sample mean 99, the population mean 100 and computed value of z-statistic at 2.5, the value of population standard deviation will be :

Given below are two statements :
Statement I : Industrialization strategy advocates trade and development to overcome market failures through government policy.
Statement II : It encourages technology transfer and exports of progressively more advanced products.
In the light of the above statement, choose the correct answer from the options given below :

Match the List – I with List – II :
     List – I                                      List - II
(a) Kerala                                 (i) Least urbanized
(b) Punjab                                (ii) Highest percentage of S.C's in their population
(c) Himachal Pradesh              (iii) Highest percentage of S.T's in their population
(d) Madhya Pradesh                (iv) Highest sex ratio
Choose the correct option from those given below :

Based on the order condition, state whether the first equation is identified ?
Given the following structural model :
y1 = 3y2 – 2x1 + x2 + u1
y2 = y3 + x3 + u2
y3 = y1 – y2 – 2x3 + u3
where y's are the endogenous variables, x's are predetermined variables and u's are random terms

Given below are two statements.
Statement I : Growth in infrastructure is considered as an essential pre-requisite for stepping up GDP growth.
Statement II  : It is vitally important to increase capital formation in India.
In the light of the above statement, choose the most appropriate answer from the options given below :

IS and LM curve analysis explain :
(a) Product market equilibrium
(b) Money market equilibrium
(c) Capital market equilibrium
(d) Foreign trade equilibrium
Choose the correct answer from the option given below :

Who said, "I believe that the objective for disinvestment should be to benefit the public, the consumer and the investor and at the same time to improve competitiveness and eliminate monopoly" ?

For the given Income Consumption curve in the diagram, which one of the following is correct, beyond point A ?
             

Which of the following situtations represents an economic investment in the national income calculation ?
(a) Buying a newly constructed house for self-occcupation
(b) Buying of new shares
(c) Buying a new car by a publishing house for delivering books
(d) Buying a new car by a household
Choose the most appropriate answer from the options given below :

What type of relationship exists between two variables, if all points on the scatter diagram appear to fall on a straight line going upward from left to right ?

The share of the service sector in the Gross Value Added of India at current prices, during 2018-2019 is between :

Match the List – I with List – II :
     List – I                                                                                                                   List – II
  (Statistic)                                                                                                            (Standard Error)
A. Sample mean                                                                                          1. 
B. Sample Variance (s²)                                                                                     2. 
C. Difference of two independent sample means                                3. 
D. Difference of two independent sample standard                                           4.  Deviations (s1 – (s2)
Choose the correct option from those given below :

Which one of the following response is true as a solution for simultaneous equation bias ?
(a) OLS Method
(b) Principle Component Method
(c) Two-stage Least square Method (2 SLS Method)
(d) Full Information Maximum Likelihood Method (FIML)
Choose the correct answer from the option given below :

The cost of holding money by individuals :
(1) Loss of real value of money due to deflation.
(2) Foregone interest from savings,
(3) Utility foregone by not buying goods and services.
(4) Returns foregone by no holding other assets.
Choose the most appropriate answer from the options given below :

Given 'σ' as the Standard Deviation of a given series and if to each and every observation of the series is added a constant 'k', then what will be the Standard Deviation of the new series ?

Growth rate of population is :

Changes in terms of trade typically put less developed countries at a disadvantage, because :

Account payee crossing is defined in which section of the Negotiable Instruments (NI) Act ?

Match the List – I with List – II :
      List – I                                                           List - II
(a) Rybezynski Theorem                               (i) The effect of tariffs on factor prices
(b) Metzler effect                                           (ii) The effect of factor growth on production and trade
(c) Stolper- Samuelson Theorem                 (iii) The effect of tariffs on domestic prices
(d) Immiserising growth theory                     (iv) The effect of growth on terms of trade
Choose the correct option from those given below :

A decision free framework to identify a country's most binding constraints on economic growth is termed as :

Based on the following Blacker's stages of population growth diagram, the portion between A, B and C implies :
         

Inadequacy of absence of KYC (Know Your Customer) standards can subject a bank to serious and counter party risk as follows :
(a) Reputation risk
(b) Compliance risk
(c) Legal risk
(d) Bankruptcy risk
Choose the correct answer from the option given below :

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : The main cause of commercial bank failure is because of providing inappropriate loans to bank insiders.
Reason (R) : Bank employees are provided loans at lower interest rates.
In the light of the above statement, choose the most appropriate answer from the options given below :

Given below are two statements  : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A)  : Chronic poverty is the main problem facing India.
Reason (R) : British colonial rule has caused underdevelopment in India.
In the light of the above statement, choose the most appropriate answer from the options given below :

A graph reflecting the relationship between a country's per capita income and its inequality of income distribution is the :

What is the maximum penalty to be imposed under the Negotiable instruments Act for bouncing of a cheque ?

Match the List – I with List – II :
     List – I                                                                                                                            List - II
A.  Effectiveness of private market in dealing with externalities                                      1. Laffer curve
B.  Relationship between increase in tax rate and tax revenue                                       2. Deadweight Loss
C.  Dominant strategy                                                                                                      3. Coase Theorem
D.  Controlling prices through effective price ceiling and a price floor                             4. Game Theory
Choose the correct option from those given below :

What is the value of the equilibrium level of income for the data given below for an economy ?
c = 50 + 0.8 Y_d
t = 20%
I = 100
G = 30

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : According to Walt W. Rostow, the Principle Strategy of Development necessary for take-off was the mobilization of domestic and foreign savings.
Reason (R) : Mobilization of domestic and foreign savings is necessary to generate sufficient investment to accelerate economic growth.
In the light of the above statement, choose the most appropriate answer from the options given below :

Match the List – I with List - II
     List – I                                                                                                          List - II
A.  Permanent Income Hypothesis                                                           1.  F. Modigliani
B.  Relative Income Hypothesis                                                                2.  J. M. Keynes
C.  Absolute Income Hyptothesis                                                             3.  M. Friedman
D.  Life Cycle Hypothesis                                                                         4.  J. Dusenberry
Choose the correct option from those given below :

Arrange the following in chronological order :
(a) Rational Expectation Doctrine
(b) Keynesian Economics
(c) monetarism
(d) Classical Economics
Choose the correct answer from the option given below :

Banking Cash Transaction Tax (BCTT) was introduced with effect from :

Which one of the following Commitee's has been constituted for doubling farmer's income by 2022 ?

Consider the following statements about the correct order of the stages of demographic transition associated with economic development :
(a) Low birth rate with low death rate
(b) High birth rate with high death rate
(c) High birth rate with low death rate
Choose the correct option :

Arrange in chronological order the following economists in relation to their contribution to the Theory of Consumer Behaviour .

Match the List – I with List - II
    List – I                                                                   List - II
(a) Head Count Ratio                                           (i) Extent of poverty
(b) Poverty Gap                                                   (ii) Depth of poverty
(c) Square of poverty gap                                    (iii) Poverty as deprivation
(d) Multi dimensional poverty index                     (iv) Severity of poverty
Choose the correct option from those given below :

Three statements are given as under
(a) Generalized Least Square (GLS) method is capable of providing BLUE in situations where OLS fails
(b) GLS is OLS on the transformed variables that satisfy the standard least squares assumptions.
(c) GLS method is suitable for dealing with multicollinearity problem.
Choose the correct option :

For oil importing countries, the increase in oil prices in 1970's and mid 2000 contributed to which of the following ?
(a) Improving terms of trade
(b) Balance of trade deficits
(c) Price inflation
(d) Constrained economic growth
Choose the correct option from the codes given below :

Identify the method not being used for unemployment estimation by the NSSO of India :

The problem relating to burden of public debt has been dealt by :
(a) A.P. Learner
(b) E.D. Domar
(c) A.C. Pigou
(d) A.H. Hansen
Select the correct answer from the option given below :

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : Disguised unemployment is present in India.
Reason (R) : Agricultural productivity at margin is close to zero.
In the light of the above two statement, choose the correct options :

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : In classical model, investment demand is regarded as autonomous of changes in income or employment.
Reason (R) : It is wage price flexibility which brings full employment in the classical model.
In the light of the above two statement, choose the correct options :

Under Normal Probability Curve the area within the range of µ – 1.96 σ & µ + 1.96 σ (where µ = mean, σ = standard deviation) is :

The elasticity of substitution (σ) of the production function which admits of both Hicks and Harrod neutral technical progress would be :

Arrange the following chronological order :
(a) The Indirect Tax Enquiry Committee (Jha Committee)
(b) Tax Reforms Committee (R.J. Chellaiah Commitee)
(c) Taxation Enquiry Commission (Mathur Committee)
(d) The Direct Tax Enquiry Committee (Wanchoo Commitee)
Choose the correct option from those given below :

Arrange the following books in the correct chronological order :
(a) Das Capital
(b) Value and Capital
(c) Capital and Growth
(d) Accumulation of Capital
Choose the correct option :

The total cost function of a firm is  300 where C = total cost, q = output, Marginal cost at q = 10 is :

Which trade policy results in the government levying both a specific tariff and an advalorem tariff on imported goods ?

Autonomous investment could be attributed to :
(a) Level of technology
(b) Expectation
(c) Level of national income
Choose the correct option :

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : Parties to a dispute over property rights will be able to negotiate and economically optimal solution.
Reason (R) : There are efficient, competitive markets and there are no transactions cost.
In the light of the above two statement, choose the correct option :

The whole burden of tax will be borne by the consumer if :

Which of the following is not an example of 'market failure' ?

In which of the following models 'Knife-edge' problem occur ?

Which one of the following is not a feature of the contingent valuation method ?

Arrange the following events in chronological order :
(a) First phase of Nationalization of Commercial Banks
(b) Establishment of Narashiman Committee on banking system
(c) Enactment of FEMA act
(d) Establishment of EXIM Bank of India
Choose the correct from the following option :

Consider the following statements :
(a) India's Trade Policy Review (TPR) is carried out every four years
(b) WTO has a mechanism for regular review of the trade policies of member countries
Which of the following statement(s) is/are correct ?

Which one of the following institutions is related with the Green/Blue Box Subsidies ?
(a) United Nations
(b) World Bank
(c) World Tourism Organisation
(d) World Trade Organization
Choose the correct option from those given below :

Consider the following statements about the social cost-benefit. analysis for viability of projects. Which of the following statements are true for this analysis ?
(a) IRR should be greater than Social Discount Rate
(b) NPV should be equal to zero
(c) Shadow prices are used for the calculation of benefits and costs
Choose the most appropriate option from those given below :

Match the following List – I with List – II :
     List – A                                                          List - B
(a) Quasi Rent                                             (i) A. P. Lerner
(b) Planned Sales Curve                             (ii) P.A. Samuelson
(c) Monopoly Power                                    (iii) A. Marshall
(d) Strong Ordering of Preferences            (iv) F. Chamberlin
Choose the correct option :

Arrange in chronological order the following contributions of economists in theory of consumer. Choose the correct answer .

Which one of the following statements is not correct for the textile sector in India ?

Heckscher-Ohlin trade model maintains that :

Which amongst the following is the function of SEBI ?

Choose the correct option for which the allocation of inputs is technically efficient ?
(a) Output of one goods cannot be decreased without increasing the output of another goods
(b) Consumption of one goods cannot be increased without decreasing the consumption of another goods
(c) Consumer attains maximum satisfaction
Choose the correct option :

Arrange the following theories of international trade in chronological order as they appear :
(a) Theory of opportunity cost
(b) Theory of comparative cost
(c) Factor price equalisation theorem
(d) Theory of absolute cost
Identify the correct chronological order :

Who among the following is not associated with the Optimum Theory of Population ?

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : For certain goods, the expenditure by the consumer decreases.
Reason (R) : For such goods, the income elasticity of demand is high.
In the light of the above statement, choose the correct option :

Consider an economy with a linear homogeneous Cobb-Douglas production function with two inputs-capital and labour. The share of capital and labour are respectively 1/3 and 2/3 The rates of growth of capital and labour are respectively 6% and 3% per annum. If the rate of growth of output is 6% per annum, what is the rate of growth of output due to Total Factor Productivity (TFP) ?

Who among the following economists are associated with the 'Balanced Growth' doctrine ?
(a) W.A. Lewis
(b) H.W. Singer
(c) R. Nelson
(d) Ragnar Nurkse
Choose the correct option :

Match the following List – I with List – II :
    List – I                                      List - II
(a) Slutsky                                (i) Linear programming
(b) Arrow                                  (ii) Input-output analysis
(c) Leontief                              (iii) Consumer behaviour analysis
(d) Dantzig                              (iv) CES production function
Choose the correct option from those given below :

The phenomenon of 'Demographic Divident' is related to which of the following ?

In terms of their contribution to Econometrics which is correct chronological order :

Who is the author of the book 'Freedom as Development" ?

Boot strapping technique is used to :

Under which of the following approaches Phillips Curve Analysis holds good ?
(a) Adaptive expectations
(b) Rational expectations
Choose the correct options :

Inverse of matrix  is :

When the market rate of interest falls, which one of the following will happen ?

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : Geometric mean is theoretically considered as the best average to construct index numbers.
Reason (R) : Geometric mean is used if the range of observations are extremely large.
In the light of the above two statement, Choose the correct option :

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : Intellectual Property Rights were brought into the Uruguay Round Trade Negotiations.
Reason (R) : International trade restrictions can be used to discourage the violation of intellectural property rights.
In the light of the above two statement, Choose the correct option :

In Linear Programming each problem (called primal) has a dual. About duality in Linear Programming following statements are given :
(a) If a linear programming problem is maximizing type, then its dual is minimizing type
(b) Both primal and dual have same optimum value
(c) Dual of a linear programming problem is primal problem
(d) If maximizing linear programming problem is with 'less than' type constraints, the dual of this problem will have 'more than' type constrains
Choose from the following options :

Which one of the following is an example of positive externality ?

Incidence of tax refers to :

The elements given below are some of the parts of the M₄ money supply in Indian economy :
(a) Broad money (M₃)
(b) All deposits with the post office saving banks
(c) National saving certificates
Select the most appropriate option which constitutes M₄ :

Analysis of variance is carried out by using :

Identify the correct chronological order of the following :
(a) Hayek theory of investment
(b) Fisher theory of investment
(c) Jorgenson's theory of investment
(d) Markowitz theory of investment
Select the correct option from those given belows :

Which of the following statements are true concerning a triangular or recursive system ?
(1) The parameters can be validly estimated using separate applications of OLS to each equation
(2) The independent variables may be correlated with the error terms in other equation
(3) An application of two-stage least squares would lead to unbiased but inefficient parameter estimation
(4) The independent variables may be correlated with the error terms in the equation in which they appear as independent variables
Choose the correct option :

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : In order to control inflationary tendencies, RBI raises the Repo rate.
Reason (R) : By so during, RBI wishes to control consumption demand
In the light of the above two statement, Choose the correct option :

Given the saving function S = –20 + 0.2Y and autonomous investment (I) = Rs 100 million, the equilibrium of level of consumption would be :

A tax of Rs 20 per unit of imported cheese would be an example of a/an :

Which among the following are the main pillars of the BASEL III norms ?
(a) Minimal capital requirements
(b) Supervisory review process
(c) Market discipline
(d) Maximizing return on capital
Choose from the option given below :

Which one of the following is correct for the money supply measure – M₁ ?

Friedman's modern Quantity Theory of Money concludes that changes in aggregate spending are primariy determined by changes in :

If in a given situtation, Px = 170, Pm = 190 and Zx = 152, then which of the following will be the value of Single Factoral Terms of Trade (Ts) :

Match the following :
   List – I                                                       List - II
A. Fiscal deficit                                       1. Excess of total expenditure over total receipts
B. Budget deficit                                     2. Excess of revenue expenditure over revenue receipts
C. Revenue deficit                                  3. Excess of total expenditure over total receipts less borrowings
D. Primary deficit                                    4. Excess of total expenditure over total receipts less borrwoings and interest payments
Choose the correct option from those given below :

Match the following List – I with List – II :
    List – I                                                       List - II
(a) Marginalist Revolution                           (i) Samuelson
(b) Multiplier-Accelerator model                 (ii) J.R. Hicks
(c) IS-LM curves                                        (iii) Javous
(d) Real business cycle                             (iv) Robert J. Borro
Choose the correct option from those given below :

Displacement effect' is the Peacock-Wiseman Hypothesis implies :

Match the following List – I with List – II :
       List – I                                        List - II
(a) E. Cannan                              (i) Optimum population
(b) Frank Nestein                        (ii) Transaction costs
(c) Brundtland                             (iii) Demographic transition
(d) Ronald Coase                       (iv) Sustainable development
Choose the correct option from those given below :

Among normal cost curves which one of the following curve does not have a minimum point ?

Match the following List – I with List – II :
     List – I                                         List - II
(a) Dickey Fuller test                     (i) Hetero-sedasticity
(b) Box-Jenkins Methed               (ii) Causality
(c) Glejser test                             (iii) Forecasting
(d) Granger test                            (iv) Stationarity
Choose the correct option from those given below :

For a Cobb-Douglas production function Q = 100 L^0.7 K^0.3 Which of the following is true ?

The 'Compensation Criterion' which says that state A is socially preferable to state B, if those who gain from the change can compensate the loosers and yet end up with surplus welfare gain is attributed to :

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : Inclusive growth is a must for a country like India.
Reason (R) : India is an open economy with a significant external sector.
In the light of the above two statement, choose the correct options :

Harrod's growth model is given as under
S_t = aY_t       0 < a < 1
I_t = b[Y_t – Y_t–1]    b > 0
S_t = I_t
In this model, growth condition is :

In which of the following products, problem of adverse selection is encountered ?

For which of the following consumption function, the value of the income multiplier K = 4 ?

Which is correct chronological order of Economists contributing to input-output analysis ?

The inventory approach to the transaction demand suggests that the transaction component of demand for money is :

Which amongst the following is not the source of the income of RBI ?

Kaldor's growth model incorporates some of the following assumptions :
(a) Total savings include savings out of wages and savings out of profits
(b) Marginal propensity to save out of wages is equal to the marginal propensity to save out of profits
(c) Output consists of wages and profits
(d) There is less than full employment
Choose the correct option given below :

Insolvency and bankruptcy code is primarily entrusted with which of the following ?

Given below are two statements : One is labelled as Assertion (A) and the other is labelled as Reason (R) :
Assertion (A) : CES production function covers large class of production functions.
Reason (R) : CES production function has the property of constancy of elasticity of factor substituation
In the light of the above two statement, choose the correct options :

Which of the following is the correct seuqence in the ascending order of the magnitude ?

Consider the following statements :
I.  Preferring to a certain income to a risky income with the same level of expected value lead to a risk averse behaviour
II.  Being indifferent between a certain income and uncertain income with the same level of expected value leads to risk averse behaviour
Which of the statement is/are true ? Choose the Correct option given below :

Consider the following statements :
1. The main objective of the National Agricultural Insurance Scheme (NAIS) is to protect the farmers against losses suffered by them due to crop failure on account of national calamities
2. The National Agricultural Insurance Scheme (NAIS) is available to all the farmers both loanee and non-loanee irrespective of their size of holding
Which of the statements given above is/are correct ?

On which date and year GST become effective in India ?

Under which article of the Constituation of India, President is empowered to appoint the Finance Commission ?

Arrange the following in the chronological order in which these happened :
(a) Paris Climate Agreement
(b) Rio Earth Summit
(c) Brundtland Commission
(d) Kyoto Protocol
Choose the correct option given below :

For an exactly identified equation, the order condition that should be fulfilled is that equation must :

Which among the following market form leads to most efficient allocation of resources ?

Match the following List – I with List – II :
     List – I                                       List - II
(a) Treasury bills                          (i) RBI
(b) Commercial papers                (ii) IMF
(c) Repo rate                               (iii) Government
(d) SDRs                                     (iv) Private companies
Choose the correct option :

Match the following List – I with List – II :
    List – I                                                  List - II
A. Forward exchange                         1. A device of covering exchange risk against the price rise of foreign currency
B. Hedging                                         2. A contract to buy and sell foreign exchange against another currency at some fixed rate in the future at a price agreed upon now
C. Arbitrage                                        3. The movement of exchange rate between two limits set by the cost of moving gold from one country to another
D. Specie Point                                  4. A mechanism which makes two markets that are physically separate, a single market in economic sense
Choose the correct option :

Two series are given as under.
1.   ....... upto ∞
2.  ....... upto ∞

Which of the following methods of selecting a strategy is consistent with risk averting behaviour ?

Which of the following statement are true regarding Cobb-Douglas production function ?
(a) It is long period production function
(b) It is short period production function
(c) It is based on increasing returns to scale
(d) Output elasticities with respect to factors are constant
Select the correct option :

Matchthe following List – I with List – II :
      List – I                                                                                                                                       List - II
A. Various combinations that a consumer can purchase                                                            1. Indifference map
B. Various combinations of two commodities providing equal satisfaction to consumer             2. Indifference curve
C. A set of indifference curves                                                                                                     3. Budget line
D. Point of tangency of a budget line on an indifference curve                                                   4.Consumer's equilibrium
Choose the correct option from the following :

Under non-cooperative games, it is :

The inconsistency of which one of the following criteria is labelled as Scitovsky Paradox ?

Pareto's marginal condition for efficiency in composition of output (product-mix) requires :

The firms are competitive and profit maximizing the demand curve for labour is determined by :

General equilibrium analysis determines :

Why do individuals act in riskier ways after being insured ?

Match List – I with List – II :
 List – I                                 List – II
(Institution)                     (Established)
(a) ICICI                            (i) 1971
(b) IRBI                             (ii) 1964
(c) IFCI                             (iii) 1955
(d) IDBI                             (iv) 1948
Choose the correct option from those given below :

During a depression which of the following policy instruments should be used ?

Assume that an economy beins in macro-economic equilibrium, then taxes are significantly decreaed. As a result of this change :