UKPSC Assistant Professor (Economics) Exam - English

Under Cournot Model of Duopoly, each duopolist will produce :

As long as the substitution effect dominates the income effect, the labour supply curve is :

Assertion (A)     :  Monopoly is Pareto inefficient .
Reason (R)         :  It would be possible to change the allocation of resources to make the amount of Income he would be prepared to pay in exchange of the reduction in price

If MP_k/MP_k does not change with any proportionate change in labour and capital then the production function  is :

Match the items in the List-I with items in List-II select the correct answer from the code given below :
  List-I                                      List-II
I. Agency Theory of        1. O.E. Williamson 
   Firm
II. X-inefficiency              2. M.C. Jenson and W. J. Meckling
III. The Utility                 3. Wilfredo Pareto
    Maximisation
     Model
IV. Edgeworth box         4. Harvey Leibenstein
      Diagram first
      Used by

At the point of tangency between short-run average total cost and long-run average cost, the short-run average cost, the short-run marginal cost :

The equilibrium in a market is incomplete with increasing returns to scale only in the case of :

If 1 = Involuntary unemployment
2 = Disguised   unemployment
3 = Frictional unemployment; and
4 = Structural unemployment, then full
Employment is consistent with

Which of the following statements is false ?

Match the theory / criterion of investment determination as given below in List – II with their Propounders  gives below in List-I :
        List-I                                      List-II
I. Dale Jorgenson                       a. Q- Theory
II. J.M. keyens                             b. Neo-Classical Theory
III. James Cohin                          c. Accelerator Theory
IV. James Clark                             d. Present Value Criterion

Assertion (A)  :  In liquidity trap, the demand for money is perfectly interest elastic .
Reason (R)       :  Because in this situation, all the investors expect the market rate of Interest to rise towards the natural rate of interest 

The rate of net investment spending per time period depends on steepness of the downword slope of :

Which of the following is not specifically mentioned as a determinate of the demand for money ?

Whose model of the following economists makes use of the stock adjustment principal to explain business cycles ?

The concepts of vicious circle of poverty is associated with :

Inverted ‘U’ shaped income distribution hypothesis is associated with :

Components of HDI are :
I. Longevity
II. Infant mortality
III. Educational attainment
IV. decent standard of living

Arrange the proponents of classical theory of development in a sequential order :
 I. David Ricardo
 II. Adam Smith
 III. J.S. Mill
IV. Robert Malthus

Match the items in the List-I with items in List-II :
       List-I                      List-II
I. Structural view       1. Classical Economists
   Of underdeve-
      Lopment
II. Laissez-faire           2. Hollis Chenery
           Policy
III. Departmental         3. Steady state
       Scheme of               Growth
        expanded
IV. Golden age of        4. Karl Marx
     Accumulation      

Match the items in the List-I with items in List-II :
        List-I                      List-II
I. Critical minimum    1. R.F. Kahn       
      Effort  Thesis
II. Knife-edge              2. Rosentein-Rodan
     Equilibrium                                             
III. Bastard Golden    3. Leibenstein
        Age
IV. Big push                  4. Harrod
      Theory     

Which years in India have been the best and the worst in items of growth rate of national income ?

In India, the Foreign Exchange Reserves are kept in the custody of which among the following ?

Which among the following is the short name of highest authority in India for Indirect Taxes ?

Rank the states in ascending order of the crude birth rate in the recent years :
I. Andhra Pradesh
II. Karnataka
III. Madhya Pradesh
IV. Utter Pradesh

Provide the correct answer about the desired growth target of the manufacturing sector in the medium terms as per the national manufacturing policy of India:

Which of the following countries have better Human Development Index (HDI) as per the HDR 2011
       ?
I. Sri Lanka
II. Pakistan
III. Kenya
IV. Egypt

What was the amount of outlay under MGNREGA in 2011-12 by the Government of India ?

Provide correct answer about the share of India in the world merchandize exports in 2010 :

If the cost of transporting a goods between two nations exceeds the pretrade difference for the goods between two nations, then in that goods  is :

According to the Rybczynski theorem , the growth of only one factor at constant relative commodity prices , leads to an absolute expansion in the output of :

The exchange rate is kept the same in all parts of the market by :

Which are relevant conditions assumed by the factor price equalization theorem ?
I. the countries are characterized by different factor endowments .
II. The countries are characterized by different production functions
III. The industries are characterized by different factor intensities
IV. each country will export the commodities which uses its abundant factor relatively intensively

Which of the following is true with respect to the monetary approach to the balance of payment ?

When a nation imposes an import tariff the nation’s offer curve will

If the international terms of trade settle at a level that is between each country’s opportunity cost Then.

Arrange the following in chronological order :
I. The Indirect Tax Enquiry Committee (Jha Committee)
II. Tax Reforms Committee (Chelliah Committee)
III. Taxations Enquiry Commission (Matthur Commission)      
IV. The Direct Tax Enquiry Committee (Wanchoo Cmmittee)

Which of the following are relevant in Zero Base Budgeting  ?
 I. Each item of expenditure is challenged in pre-budget review
 II. No minimum level of expenditure is allowed to be taken as given .III. Expenditure of each items is increased marginally
IV. Most item of expenditure is taken for granted when budget is prepared for the next year

Match the items given in  List-I with those in List-II :
          List-I                                      List-II
I. Optimal Income      1.  Charles Tiebout
      Taxation
II. An Economic            2. Peter A. Phyrr
     Theory of Politics
III. Local Public              3. F. Ramsey
      Goods
 IV. Zero Base                4. Anthony Downs
     Budgeting

Which of the following is tantamount to absence of taxation ?

Which of the following tax is within the jurisdiction of status as enumerated in List-II of the schedule VII of the constitution of India ?

Cohin Clark has argued that for most countries of the world, the safe upper limit of taxation is :

Which of the following tax can be shifted easily ?

In a binomial distribution, the sum of mean and variance is 15 and the product of mean and variance is 54, then the number of observation (n) is equal to :

Random sampling implies that :

Assertions (A)  :  Fisher’s index is an ideal index
Reason        (R)  :  Fisher’s index satisfies time reversal and factor reversal tests

Who is widely Known as the founder of Austrian School ?

For substitutes, cross elasticity of demand is 

Reservation wage mean : 

An economic region of production consists of :

Elasticity of substitution is :

Marginal Revenue of a Monopoly firm is less than the price, Because :

For an inferior goods , income consumption curve and Engles curves are :

The classical economists focused on the role of money as :

If the demand for money is perfectly interest inelastic , the LM schedule will be :

Harrod –Domer model of economic growth is based on the equilibrium between

In calculating the buoyancy of a tax, we consider :

Which of the following measure of the central tendency suits the data best if the objective is to assess the distribution of values ?

Comparative cost advantage in Ricardo;s international trade theory arises due to 

In India, in 2004-05 the number of poor persons below poverty line was the highest in the state of : 

Which of the following is not a component of Bharat Nirman ?

A point of ‘Kink’ in the kinked demand curve indicates :
I. Price rigidity
II. Quantity rigidity
III. Price flexibility
IV. Quantity flexibility
Codes :

Improvement in the BOP deficit may be effected through :
I. Import control
II. Export promotion
III. Foreign exchange control
IV. Devaluation
Codes 

The problem relating to burden of public debt has been dealt by :
 I. A.P. Learner
II. E.D. Domar
III. A.C. Pigou
IV. A.H. Henson
Codes :

Fiscal policy relates to the Government decision in respect of :
I. Taxation
II. Government spending
III. Government  borrowing
IV. public Debt
Codes :

HDI is entrusted with reference to :
I. Life expectancy at birth
II. Real GDP/per capita
III. Infant mortality
 IV. Morbidity
Codes :

The doctrine of unbalanced was propounded by :
I. Hirschman
II. Robert Solow
III. Singer
IV. Ragnar Nurkse
Codes :

Harrod-Domar model of economic growth is based upon :
I. Warranted growth rate
II. Investment growth rate
II. Productivity growth rate
IV. Natural growth rate
Codes :

In Keynesian system speculative demand for money arises because of :
I. Uncertainty of future interest rates
II. unexpected expenditure
III. To bridge the gap between income and eventual expenditure
IV. Relationship between changes in the interest rates and bond prices
Codes :

According of Milton Friedman Theory of permanent component of consumption expenditure depends on :
I. Transitory income alone
II. Transitory and permanent income
III. permanent income along
IV. Windfall gains
Codes :

The Planning commission of India has recently made announcement regarding Poverty Line :
I. 42/- per capita per day in urban area
II. 26/- per capita per day in rural area
III. 32/- per capita per day in area
IV. 32/- per capita per day In rural area
Codes :

Assertion (A) Giffin’s paradox rarely occurs in the real world
Reason  (R) Inferior goods are narrowly defined for which suitable substitutes are available
Codes :

Assertion (A)  : According to the Life cycle theory of consumption an individual level of consumption depends not just on current income but also on long run expected earning
Reason  (R)    :  Individuals are assumed to plan a pattern of expenditure based on expected earning over life time
Codes :

Assertion (A)  : Effective demand can be increased by more equitable distribution of wealth
Reason  (R) Thirty or forty entities with income averaging between 1lakhe and 5 lakhe would create much more effective demand than a single entity having income of 10 lakhe a year
Codes :

Assertion (A)  :  During the period 2004-05 to 2007-08 fiscal consolidation process was witnessed inIndia
Reason  (R)  There was buoyancy in tax revenue during this period
Codes :

Assertion  (A)  :  K/L ratio will adjust through time in the direction of equilibrium ratio
Reason (R)   Because the technical coefficient of production are variable
Codes :

Assertion  (A)  :  Stationary state is the end of the process of capital formation
Reason  (R)  Scarcity of natural resources as also capital leads the economy tothe stationarys tate
 Codes : 

Assertion (A)  : Financial inclusion is desirable to help weaker sections of society in the country
Reason    (R)  Investment activity needs to be promoted to facilitate access to development benefits to masses
Codes :

Assertion  (A)  :  Investment has also a supply effect
Reason    (R)     :  Because it raises capacity to produce
Codes :

Assertion  (A)  :  Gold standard was finally given up after the second World war
Reason  (R)  :  Countries had different rates of inflation
Codes :

Assertion  (A)  :  Disguised unemployment is present in Indian agriculture
Reason  (R) Marginal productivity of agriculture is close to zero
Codes :

Arrange the following in chronological order
I. CES production function
II. Cobb – Douglas production function
III. Tronslog production function
IV. The law of variable proportions
Codes :

Consider the following schemes :
I. EAS                                                               II. TRYSEM
III. JRY                                                             IV. RLEGP
The correct chronological sequence of the launching of these schemes are :
Codes :

Arrange the origin of money in a sequential order :
I. Cheque
II. Metallic money
III. Commodity money
IV. Paper money
Codes :

Arrange the following theories in the chronological order :
I. Restatement or quantity theory
II. Income theory
III.  Quantity Theory
IV. Cash Balance Approach
Codes :

Identify the correct chronological order of the following classical economists :

The sequencing process of Schumpeter model of development is :

Arrange the following theories in order in which they appeared :
I. Comparative Cost Advantage Theor
II. Absolute cost Advantage Theory
III. Leontief  Paradox
 IV. factor Endowment Theory
Codes

Arrange the stages of economic growth in a sequential order :
I. The age of high mass consumption
II. the traditional society
III. the take – off stage
IV. The drive to maturity
Codes :

Identify the sequence of implementation of the following taxes
I. Land Revenue
II. Sales tax
III. MODVAT
IV. Service tax
Codes :

Identify the correct chronological of the following :
I. Fisher’s test of significance of differences between means of three or more samples
II. Kendal’s partial rank correlation
III. Gossest’s T test of significance between means of two samples
IV. X² test of goodness of fit of the curve and randomness of the sample values
Codes : 

List-I                                                      List-II
I. Behavioural  theory of the firm       1. J.B. Clark
II. Marginal Productivity theory of     2. Cyert and Markdistribution
III. Double criterion welfare              3. Kenneth Arrow
IV. Impossibility Theorem        4. Scitovosky
Codes :

List-I                                      List-II
I. New classical Economics                    1. T.H. Haavelmo
II. Permanent Income Hypothesis     2. Robert Lucas
III. Multiple effect of Balanced             2. ROBERT Lucas
Budget                                                      3. N.Gregory Mankiw
IV. New Keynesian Economics             4. Milton friedman
Codes :

List-I                                            List-II
I. Invisible Hand                         1. Karl Marx
II. Warrier Knight                       2. Adam Smith
III. PQLI                                     3. Schumpeter
IV. Surplus Value                      4. Morris D. Morris
Codes :

List-I                                                     List-II
I. Four Sector model                          1. Rosestein Rodan
II. Critical Minimum Effort Thesis       2. Arthur Lewis
III. Big Push Theory                           3. Mahalanobis
IV. Theory of unlimited supply of      4. LeibeisteinLabour
Codes :

List-I                                      List-II
I. Food grain s production    1. Industrial sector
II. Level of prices                  2. Revenue deficit
III. Industrial Growth             3. Agricultural Sector
IV. Fiscal Indicators              4. Wholesale Price Index
Codes :

List-II                                                 List-II
I. National Agricultural policy             1. 2004
II. Marine Fishing Policy                     2. 1978
 III. New Foreign Trade policy            3. 2000
 IV. Seventh Finance Commission      4. 2004
 Codes :

List-I                                      List-II
I. GATT                                 1. Managing balance of payments
II. IMF                                    2. Development Finance
III. IBRD                                3. Free Trade
IV. UNO                               4. Maintenance of peace among nations
 Codes :

List-I                                      List-II
I. Adam Smith                            1. Availability doctrine
II. David Ricardo                        2. Factors endowment
III. Ohlin                                       3. Absolute advantage
IV. I.B. Kravis                              4. Comparative advantage
Codes :

List-I                                                      List-II
I. Simple Random Sampling               1. Equal probability of selection of an item in a trial
II. Random sampling                           2. Equal probability of each item in all trials
III. Stratified Random Sampling   3. Random selection of first and systematic of the rest
IV. Stratified systematic Random  sampling 4. Random choice of all items from each stratum
 Codes :

List-I                                                      List-II
I. IS-LM theory                                 1. Franko Modigliaani & Richard
II. Consumption Ratchet                   2. Lucas & Sargent
III. Life Cycle Hypothesis                  3. Hicks and Hanson
IV. Critics of Keynesian Economics  4. James Dussenbery
Codes :