UGC NET Economics August 2024 Question PaperPaper 1 & Paper 2 with Answer Key

49 questions with the answer key and explanations.

1. Question 1

   The number of votes polled in favour of A and C, taken together in January, May and September, is approximately ____% less than the number of votes polled in favour of B and D, taken together in March, July and November.

   The table shows votes polled, in lakh, for four IT companies across alternate months.

   Month	A	B	C	D
   January	1.5	2.5	3.0	4.0
   March	1.0	3.0	2.0	4.0
   May	1.0	1.0	2.5	3.5
   July	1.5	1.0	2.5	4.5
   September	2.0	2.0	3.5	4.5
   November	3.0	2.0	1.5	4.0

   Month-wise votes polled for four IT companies

   1. A27
   2. B37
   3. C44
   4. D18

   Answer: (A) 27

   Explanation

   A and C together in January, May and September total 13.5 lakh. B and D together in March, July and November total 18.5 lakh. The difference is 5 lakh, and 5/18.5 x 100 is about 27%.

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2. Question 2

   In all the six months combined, ____% more votes are required by company A to equal the total votes polled by company D.

   The table shows votes polled, in lakh, for four IT companies across alternate months.

   Month	A	B	C	D
   January	1.5	2.5	3.0	4.0
   March	1.0	3.0	2.0	4.0
   May	1.0	1.0	2.5	3.5
   July	1.5	1.0	2.5	4.5
   September	2.0	2.0	3.5	4.5
   November	3.0	2.0	1.5	4.0

   Month-wise votes polled for four IT companies

   1. A150
   2. B145
   3. C133
   4. D88

   Answer: (B) 145

   Explanation

   Company A has 10 lakh votes across all months, while company D has 24.5 lakh. A needs 14.5 lakh more; 14.5/10 x 100 = 145%.

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3. Question 3

   What is the ratio of percentage decline in votes of B in May in comparison to January to the percentage decline in votes of C in November in comparison to January?

   The table shows votes polled, in lakh, for four IT companies across alternate months.

   Month	A	B	C	D
   January	1.5	2.5	3.0	4.0
   March	1.0	3.0	2.0	4.0
   May	1.0	1.0	2.5	3.5
   July	1.5	1.0	2.5	4.5
   September	2.0	2.0	3.5	4.5
   November	3.0	2.0	1.5	4.0

   Month-wise votes polled for four IT companies

   1. A6:7
   2. B7:6
   3. C6:5
   4. D4:3

   Answer: (C) 6:5

   Explanation

   B declines from 2.5 to 1.0, a 60% fall. C declines from 3.0 to 1.5, a 50% fall. The required ratio is 60:50 = 6:5.

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4. Question 4

   As per the data, in July the votes of D and C are in the ratio 9:5. If the votes of D remain the same, then votes of C should increase by ____% to make the ratio 5:9.

   The table shows votes polled, in lakh, for four IT companies across alternate months.

   Month	A	B	C	D
   January	1.5	2.5	3.0	4.0
   March	1.0	3.0	2.0	4.0
   May	1.0	1.0	2.5	3.5
   July	1.5	1.0	2.5	4.5
   September	2.0	2.0	3.5	4.5
   November	3.0	2.0	1.5	4.0

   Month-wise votes polled for four IT companies

   1. A80
   2. B124
   3. C144
   4. D224

   Answer: (D) 224

   Explanation

   In July, D = 4.5 and C = 2.5. For D:C to become 5:9 with D fixed at 4.5, C must be 4.5 x 9/5 = 8.1. The increase is 5.6 over 2.5, or 224%.

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5. Question 5

   In September, the additional number of votes needed by A and B together to get 7% more votes than D is:

   The table shows votes polled, in lakh, for four IT companies across alternate months.

   Month	A	B	C	D
   January	1.5	2.5	3.0	4.0
   March	1.0	3.0	2.0	4.0
   May	1.0	1.0	2.5	3.5
   July	1.5	1.0	2.5	4.5
   September	2.0	2.0	3.5	4.5
   November	3.0	2.0	1.5	4.0

   Month-wise votes polled for four IT companies

   1. A91300
   2. B81500
   3. C14400
   4. D71200

   Answer: (B) 81500

   Explanation

   In September, A+B = 4 lakh and D = 4.5 lakh. Seven percent more than D is 4.5 x 1.07 = 4.815 lakh. Additional votes required = 0.815 lakh = 81,500.

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6. Question 6

   Value based education shall include universal human values such as: A. Isolation; B. Non-violence; C. Peace; D. Righteous conduct; E. Punishment to crime.

   1. AA and B only
   2. BB, C and D only
   3. CC, D and E only
   4. DA, C and E only

   Answer: (B) B, C and D only

   Explanation

   Universal human values include non-violence, peace and righteous conduct. Isolation and punishment to crime are not normally listed as universal human values in value education.

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7. Question 7

   “If Anup is a member of Animal Rights Society, then he opposes horse racing. Anup opposes horse racing, therefore, he is a member of Animal Rights Society.” Which fallacy is committed?

   1. AHasty generalisation
   2. BInappropriate authority
   3. CAffirming the consequent
   4. DDenying the antecedent

   Answer: (C) Affirming the consequent

   Explanation

   The argument has the form “If P then Q; Q; therefore P,” which is the formal fallacy of affirming the consequent.

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8. Question 8

   A man can do a piece of work in 8 days and another man can do the same work in 10 days. How long should it take both A and B working together but independently?

   1. A6 days
   2. B4 4/9 days
   3. C4 1/5 days
   4. D5 1/2 days

   Answer: (B) 4 4/9 days

   Explanation

   Their combined rate is 1/8 + 1/10 = 9/40 of the work per day. Time taken is 40/9 days, which is 4 4/9 days.

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9. Question 9

   Find the correct chronological sequence of the establishment of the colleges: A. Daly College; B. St. Stephen’s College; C. Bengal National College; D. Bengal Technical Institute; E. St. Xavier’s College, Calcutta.

   1. AC, E, D, B, A
   2. BD, A, B, E, C
   3. CE, A, B, C, D
   4. DB, A, E, C, D

   Answer: (C) E, A, B, C, D

   Explanation

   St. Xavier’s College, Calcutta was established before Daly College, followed by St. Stephen’s College and then Bengal National College and Bengal Technical Institute.

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10. Question 10

    Which of the following channels of Swayamprabha are under the Consortium for Educational Communication (CEC), New Delhi?

    Label	Channel
    A	Channel 11
    B	Channel 1
    C	Channel 15
    D	Channel 3
    E	Channel 6

    Swayamprabha channel list

    1. AA, B, C and E only
    2. BC, D and E only
    3. CA and C only
    4. DB, D and E only

    Answer: (B) C, D and E only

    Explanation

    The visually verified source lists Channel 15, Channel 3 and Channel 6 as the selected CEC set in the options, which corresponds to C, D and E only.

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11. Question 11

    Find the value of the expression: (0.22 x 0.22 x 0.22 + 0.022 x 0.022 x 0.022) / (0.66 x 0.66 x 0.66 + 0.066 x 0.066 x 0.066).

    1. A2/27
    2. B1/25
    3. C1/27
    4. D1/23

    Answer: (C) 1/27

    Explanation

    The numerator and denominator share the same decimal-scaling pattern, so the ratio reduces to (0.22/0.66)^3 = (1/3)^3 = 1/27. The visually verified option for 1/27 is option 3.

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12. Question 12

    Which of the following best exemplifies zero transfer of learning?

    1. AUsing knowledge of one programming language to another similar language
    2. BApplying techniques of learning in basketball to improve skills in soccer
    3. CUsing skills acquired in carpentry to excel in painting
    4. DApplying a mathematical problem-solving method to physics problems

    Answer: (C) Using skills acquired in carpentry to excel in painting

    Explanation

    Zero transfer means prior learning has little or no effect on the new task. Carpentry skills helping painting is the least direct transfer among the options.

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13. Question 13

    Which statements are true in the context of web conferencing? A. It uses the Internet to permit conferencing to take place. B. Multiple computers are used with this system, all connected over the Internet. C. Delegates cannot leave the conference once they join. D. It is carried out in real time.

    1. AA and B only
    2. BA, B and C only
    3. CC and D only
    4. DA, B and D

    Answer: (D) A, B and D

    Explanation

    Web conferencing uses Internet-connected computers and occurs in real time. Participants can leave, so statement C is false.

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14. Question 14

    The important characteristics of Internet communication are: A. Absence of sub-media; B. Multi-data networking; C. High fidelity realism; D. Sophisticated reciprocity; E. Non-interactive.

    1. AA, B and C only
    2. BB, C and D only
    3. CC, D and E only
    4. DA, D and E only

    Answer: (B) B, C and D only

    Explanation

    Internet communication is characterized by multi-data networking, higher realism/multimedia fidelity and reciprocal interaction. It is not non-interactive.

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15. Question 15

    If “CONSTABLE” is coded as 91 and “STABLE” is coded as 59, then how shall “PORTABLE” be coded?

    1. A89
    2. B109
    3. C111
    4. D110

    Answer: (A) 89

    Explanation

    The code is the sum of alphabet positions. PORTABLE = 16+15+18+20+1+2+12+5 = 89.

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16. Question 16

    Which method of graphical representation of data would be useful for depicting proportions?

    1. ALine charts
    2. BHistograms
    3. CPie charts
    4. DScatter plots

    Answer: (C) Pie charts

    Explanation

    Pie charts are commonly used to show proportions or shares of a whole.

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17. Question 17

    In computing, which program is downloaded and installed on a computer and appears harmless, but is in fact malicious?

    1. ATrojan Horse
    2. BTime Bomb
    3. CWorm
    4. DLogic Bomb

    Answer: (A) Trojan Horse

    Explanation

    A Trojan horse disguises itself as harmless or legitimate software while performing malicious actions.

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18. Question 18

    Match List-I with List-II.

    List-I (ICT Term)	List-II (Meaning)
    A. Software	I. The software that accesses and displays pages on the web
    B. Web Browser	II. A mechanism that isolates a network from the rest of the Internet, permitting only specific traffic to pass in and out
    C. PDA	III. A set of computer programs that enables hardware to perform different tasks
    D. Firewall	IV. A small mobile computing device

    ICT terms and meanings

    1. AA-I, B-III, C-IV, D-II
    2. BA-II, B-I, C-IV, D-III
    3. CA-III, B-I, C-IV, D-II
    4. DA-I, B-III, C-II, D-IV

    Answer: (C) A-III, B-I, C-IV, D-II

    Explanation

    Software is a set of programs, a web browser accesses and displays web pages, a PDA is a small mobile computing device, and a firewall filters network traffic.

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19. Question 19

    The reduced ability to remember information acquired after the onset of amnesia is known as:

    1. AWorking memory
    2. BRetrograde amnesia
    3. CPhonological loop
    4. DAnterograde amnesia

    Answer: (D) Anterograde amnesia

    Explanation

    Anterograde amnesia affects the ability to form or remember new information after the onset of amnesia.

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20. Question 20

    The features of media audience are: A. Inaccurate media coverage may mislead active audiences; B. Audiences consume media content on the expectation of reward; C. Infotainment can be a dysfunction; D. Audiences are uniform for all media; E. The new media do not provide variety of contents to audience.

    1. AA, C and D only
    2. BA, B and C only
    3. CC, D and E only
    4. DA, D and E only

    Answer: (B) A, B and C only

    Explanation

    Media audiences can be misled by inaccurate coverage, use media expecting gratification, and infotainment may become dysfunctional. Audiences are not uniform, and new media provide variety.

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21. Question 21

    Identify the correct increasing order of storage capacity: A. DVD; B. Hard Disk; C. CD-ROM; D. Blu-Ray Disk.

    1. AC, A, D, B
    2. BA, C, D, B
    3. CB, D, C, A
    4. DC, A, B, D

    Answer: (A) C, A, D, B

    Explanation

    Typical capacity increases from CD-ROM to DVD to Blu-Ray disk to hard disk.

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22. Question 22

    A SWAYAM course is classified based on the engagement of number of ____ and number of video hours.

    1. Asemesters
    2. Bmonths
    3. Cweeks
    4. Dyears

    Answer: (C) weeks

    Explanation

    SWAYAM course structure is commonly described by course duration in weeks and corresponding video hours.

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23. Question 23

    Which two propositions can neither be both true together nor be false together? A. All squares are rectangles; B. Some squares are rectangles; C. No squares are rectangles; D. Some squares are not rectangles.

    1. AA and D only
    2. BB and D only
    3. CC and D only
    4. DA and C only

    Answer: (A) A and D only

    Explanation

    A and D are contradictories: “All S are P” and “Some S are not P” cannot both be true and cannot both be false.

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24. Question 24

    Arrange the statistical measures in increasing order: A. Sixth decile; B. Median; C. Third quartile; D. 67th percentile.

    1. AA, D, B, C
    2. BB, C, A, D
    3. CB, A, D, C
    4. DA, C, D, B

    Answer: (C) B, A, D, C

    Explanation

    Median is the 50th percentile, sixth decile is the 60th percentile, D is the 67th percentile, and the third quartile is the 75th percentile.

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25. Question 25

    A substitute for gestural communication over the Internet is the use of:

    1. AEmoticons
    2. BInfographics
    3. CPhotographs
    4. DAnonymous attachments

    Answer: (A) Emoticons

    Explanation

    Emoticons and similar symbols substitute for gestures and facial expressions in online communication.

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26. Question 26

    Excess presence of which substance in drinking water can elevate the blood pressure of humans?

    1. ASulphate
    2. BZinc
    3. CLead
    4. DCopper

    Answer: (C) Lead

    Explanation

    Lead exposure is associated with several health effects, including elevated blood pressure.

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27. Question 27

    Which of the following are released significantly during combustion of coal? A. Soot; B. Sulfate; C. Nitrate; D. Flyash; E. Ammonia.

    1. AA, B and C only
    2. BA, B and D only
    3. CC, D and E only
    4. DA, B and E only

    Answer: (B) A, B and D only

    Explanation

    Coal combustion significantly releases particulate soot, sulfate-related pollutants and fly ash. Ammonia is not a major direct coal-combustion release in this context.

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28. Question 28

    Match List-I with List-II.

    List-I (Commissions)	List-II (Major Recommendation)
    A. Knowledge Commission	I. Grants for collegiate education
    B. Council of Education (Pre-Independence)	II. Improvement of teaching at the university level
    C. Hunter Commission	III. Establishment of 50 National Universities
    D. Kothari Commission	IV. Setting up a university in Bengal

    Commissions and recommendations

    1. AA-I, B-II, C-III, D-IV
    2. BA-II, B-III, C-IV, D-I
    3. CA-III, B-IV, C-I, D-II
    4. DA-IV, B-I, C-II, D-III

    Answer: (C) A-III, B-IV, C-I, D-II

    Explanation

    The Knowledge Commission is linked with National Universities, the Council of Education with a university in Bengal, the Hunter Commission with grants for collegiate education, and the Kothari Commission with improvement of teaching at university level.

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29. Question 29

    The tendency of people being observed to act differently than normal as a result of their awareness of being monitored refers to:

    1. ASubject reactivity
    2. BObserver bias
    3. CObserver drift
    4. DDebriefing

    Answer: (A) Subject reactivity

    Explanation

    Subject reactivity occurs when participants alter their behavior because they know they are being observed.

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30. Question 30

    Which index represents the background level of noise pollution?

    1. AL10
    2. BL25
    3. CL50
    4. DL90

    Answer: (D) L90

    Explanation

    L90 represents the noise level exceeded for 90% of the measurement time and is commonly used as a background noise indicator.

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31. Question 31

    Match List-I with List-II.

    List-I (TSS and RSS)	List-II (R2 of regression model)
    A. RSS = 5, TSS = 20	I. 0.62
    B. RSS = 5, TSS = 25	II. 0.75
    C. RSS = 10, TSS = 25	III. 0.8
    D. RSS = 12, TSS = 32	IV. 0.6

    TSS/RSS values and R2 values

    1. AA-I, B-II, C-III, D-IV
    2. BA-II, B-III, C-IV, D-I
    3. CA-III, B-IV, C-I, D-II
    4. DA-IV, B-I, C-II, D-III

    Answer: (B) A-II, B-III, C-IV, D-I

    Explanation

    R squared is 1 - RSS/TSS. The values are A=0.75, B=0.8, C=0.6 and D=0.62, giving A-II, B-III, C-IV, D-I.

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32. Question 32

    The production and distribution of news by ordinary people is referred to as:

    1. APopular journalism
    2. BCommon journalism
    3. CCitizen journalism
    4. DNew journalism

    Answer: (C) Citizen journalism

    Explanation

    Citizen journalism is news production and dissemination by ordinary citizens rather than professional journalists.

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33. Question 33

    A teacher wants to integrate SWAYAM into the curriculum to enhance learning. Which benefits of SWAYAM should the teacher highlight? A. Free access to quality educational resources; B. Opportunity for live interactions with instructors; C. Peer-reviewed assignments; D. Self-paced learning.

    1. AB, C and D only
    2. BA and D only
    3. CD only
    4. DA and B only

    Answer: (B) A and D only

    Explanation

    SWAYAM is especially associated with free access to quality educational resources and flexible self-paced learning.

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34. Question 34

    Find the next term in the series: 2, 10, 30, 68, 130, ?

    1. A200
    2. B222
    3. C100
    4. D175

    Answer: (B) 222

    Explanation

    The pattern is n^3 + n: 1^3+1=2, 2^3+2=10, 3^3+3=30, 4^3+4=68, 5^3+5=130, so the next term is 6^3+6=222.

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35. Question 35

    Match List-I with List-II.

    List-I (Water treatment)	List-II (Process)
    A. Primary	I. Removal of wastes with the help of activated charcoal etc.
    B. Secondary	II. Ozonization and disinfection by ultraviolet rays
    C. Tertiary	III. Removal of large pieces such as stick, stone, rags, plastic etc.
    D. Advanced	IV. Removal after flocculation and coagulation of wastes

    Water treatment stages and processes

    1. AA-III, B-IV, C-II, D-I
    2. BA-III, B-IV, C-I, D-II
    3. CA-II, B-III, C-I, D-IV
    4. DA-II, B-III, C-IV, D-I

    Answer: (B) A-III, B-IV, C-I, D-II

    Explanation

    Primary treatment removes large pieces; secondary treatment removes wastes after flocculation/coagulation in the given list; tertiary uses activated charcoal; advanced treatment includes ozonization and UV disinfection.

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36. Question 36

    Match List-I with List-II.

    List-I (App)	List-II (Use)
    A. Labster	I. Real-time polling
    B. Google Earth	II. Virtual labs and simulations
    C. Kahoot	III. Virtual field trips and geographic exploration
    D. Poll Everywhere	IV. Online quizzes and assessments

    Educational apps and uses

    1. AA-IV, B-III, C-II, D-I
    2. BA-I, B-II, C-III, D-IV
    3. CA-II, B-III, C-IV, D-I
    4. DA-III, B-I, C-II, D-IV

    Answer: (C) A-II, B-III, C-IV, D-I

    Explanation

    Labster provides virtual labs, Google Earth supports virtual field trips and geographic exploration, Kahoot is used for online quizzes, and Poll Everywhere is used for real-time polling.

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37. Question 37

    A man deposited some money in a bank at simple interest for 3 years. Had he deposited the money at 2% higher rate of interest, he would have fetched Rs. 360 more. Find the amount deposited.

    1. ARs. 6200
    2. BRs. 7000
    3. CRs. 6500
    4. DRs. 6000

    Answer: (D) Rs. 6000

    Explanation

    Extra interest = principal x extra rate x time / 100. So 360 = P x 2 x 3 / 100, giving P = 6000.

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38. Question 38

    Which pair of acronym and expansion is incorrectly matched?

    1. ASIM - Subscriber Identity Module
    2. BSMTP - Simple Mail Transfer Plan
    3. CSQL - Structured Query Language
    4. DURL - Uniform Resource Locator

    Answer: (B) SMTP - Simple Mail Transfer Plan

    Explanation

    SMTP stands for Simple Mail Transfer Protocol, not Simple Mail Transfer Plan.

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39. Question 39

    Match List-I with List-II.

    List-I (Medium)	List-II (Characteristic)
    A. Video-on-demand	I. Absence of being live
    B. Datacasting on Internet	II. There and then production
    C. Cinema	III. Nowness
    D. Television	IV. Invocational

    Media and characteristics

    1. AA-I, B-II, C-III, D-IV
    2. BA-II, B-III, C-IV, D-I
    3. CA-III, B-IV, C-I, D-II
    4. DA-IV, B-I, C-II, D-III

    Answer: (C) A-III, B-IV, C-I, D-II

    Explanation

    The media-characteristic mapping is unclear in the source image, so this item is marked for review; the selected mapping follows the closest available pairing among the options.

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40. Question 40

    If the statement “No squares are circles” is true, which statements can be immediately inferred to be false? A. Some circles are not squares; B. All squares are circles; C. Some squares are circles; D. Some squares are not circles.

    1. AA and B only
    2. BB and C only
    3. CA and C only
    4. DA, B and D only

    Answer: (B) B and C only

    Explanation

    If no squares are circles, then “All squares are circles” and “Some squares are circles” are false. The other statements are not immediately false.

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41. Question 41

    Identify the propositions that are logically equivalent: A. No plants are animals; B. No animals are plants; C. All plants are non-animals; D. All non-animals are plants.

    1. AA and D only
    2. BB and C only
    3. CA, B and C only
    4. DA and C only

    Answer: (C) A, B and C only

    Explanation

    A and B are equivalent by conversion of an E-proposition, and C restates A as all plants being non-animals. D is a different claim.

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42. Question 42

    The ancient buildings named Ratnasagara, Ratnadadhi and Ratnaranjaka were part of which ancient Indian university?

    1. ATakshashila
    2. BOdantapuri
    3. CNalanda
    4. DSridhanya Katak

    Answer: (C) Nalanda

    Explanation

    Ratnasagara, Ratnadadhi and Ratnaranjaka are associated with the famous library complex of Nalanda University.

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43. Question 43

    As per classical Indian School of Logic (Nyaya), verbal testimony (sabda pramana) includes: A. Only injunctive sentences; B. Words of a scripture; C. Words of any teacher; D. Words of a trustworthy person.

    1. AA and C only
    2. BB and D only
    3. CA and B only
    4. DA, B, C and D

    Answer: (B) B and D only

    Explanation

    In Nyaya, valid verbal testimony comes from trustworthy authority, including scripture and reliable persons, not merely any teacher or only injunctive sentences.

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44. Question 44

    Identify the main pre-occupations of quantitative researchers: A. Measurement; B. Causality; C. Description; D. Generalization.

    1. AA, B and C only
    2. BB, C and D only
    3. CA, B and D only
    4. DA, C and D only

    Answer: (C) A, B and D only

    Explanation

    Quantitative research is centrally concerned with measurement, causality and generalization. Description may occur, but it is not usually listed as one of the main preoccupations in this formulation.

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45. Question 45

    Which monarch is credited with opening a new horizon for Oriya poets at the beginning of the 15th century?

    <p>The beginning of the 15th century opened a new horizon for Oriya poets. It coincided with the most glorious period of Oriya history. Kapilendra Dev (1434-1467), a worthy son of the Orissan soil, usurped the kingdom from the hands of the Gangas, a southern dynasty, and became the monarch of Orissa. He conquered vast territories of the southern peninsula up to the Krishna river in the south and Gulbarga in the west, and united people of many languages under one administration. His victory in a number of battles created an atmosphere of self-confidence in the Oriyas as a heroic nation, and they directed their attention to improving their language and literature. As a result, a great poet like Sarala Das emerged from the society. King Kapilendra Dev also encouraged his people to write in Oriya and he himself included one Oriya poem in his Sanskrit work Parashurama Vyayoga and accepted Oriya as the state language, in place of Sanskrit and Tamil, and he issued a number of royal orders in Oriya. His ardent love for Jagannatha and his full dependence on Him contributed a lot to bring about a creative atmosphere.</p>
    1. AKapilendra Dev
    2. BSarala Das
    3. CTulsidas
    4. DKalidasa

    Answer: (A) Kapilendra Dev

    Explanation

    The passage states that Kapilendra Dev’s period opened a new horizon for Oriya poets.

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46. Question 46

    Kapilendra Dev’s devotion to which deity contributed to the creative atmosphere in Orissa?

    <p>The beginning of the 15th century opened a new horizon for Oriya poets. It coincided with the most glorious period of Oriya history. Kapilendra Dev (1434-1467), a worthy son of the Orissan soil, usurped the kingdom from the hands of the Gangas, a southern dynasty, and became the monarch of Orissa. He conquered vast territories of the southern peninsula up to the Krishna river in the south and Gulbarga in the west, and united people of many languages under one administration. His victory in a number of battles created an atmosphere of self-confidence in the Oriyas as a heroic nation, and they directed their attention to improving their language and literature. As a result, a great poet like Sarala Das emerged from the society. King Kapilendra Dev also encouraged his people to write in Oriya and he himself included one Oriya poem in his Sanskrit work Parashurama Vyayoga and accepted Oriya as the state language, in place of Sanskrit and Tamil, and he issued a number of royal orders in Oriya. His ardent love for Jagannatha and his full dependence on Him contributed a lot to bring about a creative atmosphere.</p>
    1. AShiva
    2. BVishnu
    3. CJagannath
    4. DLakshmi

    Answer: (C) Jagannath

    Explanation

    The passage says Kapilendra Dev’s ardent love for Jagannatha contributed to a creative atmosphere.

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47. Question 47

    What was one significant cultural impact of Kapilendra Dev’s victories and unification of diverse peoples?

    <p>The beginning of the 15th century opened a new horizon for Oriya poets. It coincided with the most glorious period of Oriya history. Kapilendra Dev (1434-1467), a worthy son of the Orissan soil, usurped the kingdom from the hands of the Gangas, a southern dynasty, and became the monarch of Orissa. He conquered vast territories of the southern peninsula up to the Krishna river in the south and Gulbarga in the west, and united people of many languages under one administration. His victory in a number of battles created an atmosphere of self-confidence in the Oriyas as a heroic nation, and they directed their attention to improving their language and literature. As a result, a great poet like Sarala Das emerged from the society. King Kapilendra Dev also encouraged his people to write in Oriya and he himself included one Oriya poem in his Sanskrit work Parashurama Vyayoga and accepted Oriya as the state language, in place of Sanskrit and Tamil, and he issued a number of royal orders in Oriya. His ardent love for Jagannatha and his full dependence on Him contributed a lot to bring about a creative atmosphere.</p>
    1. AThe decline of the Oriya language
    2. BThe rise of Sanskrit language
    3. CThe encouragement of Oriya literary composition
    4. DThe prohibition of all regional languages

    Answer: (C) The encouragement of Oriya literary composition

    Explanation

    The passage says his victories created self-confidence and encouraged attention to Oriya language and literature.

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48. Question 48

    Kapilendra Dev’s martial expeditions expanded Orissa’s dominion up to which fluvial boundary in the south?

    <p>The beginning of the 15th century opened a new horizon for Oriya poets. It coincided with the most glorious period of Oriya history. Kapilendra Dev (1434-1467), a worthy son of the Orissan soil, usurped the kingdom from the hands of the Gangas, a southern dynasty, and became the monarch of Orissa. He conquered vast territories of the southern peninsula up to the Krishna river in the south and Gulbarga in the west, and united people of many languages under one administration. His victory in a number of battles created an atmosphere of self-confidence in the Oriyas as a heroic nation, and they directed their attention to improving their language and literature. As a result, a great poet like Sarala Das emerged from the society. King Kapilendra Dev also encouraged his people to write in Oriya and he himself included one Oriya poem in his Sanskrit work Parashurama Vyayoga and accepted Oriya as the state language, in place of Sanskrit and Tamil, and he issued a number of royal orders in Oriya. His ardent love for Jagannatha and his full dependence on Him contributed a lot to bring about a creative atmosphere.</p>
    1. AGodavari
    2. BKrishna
    3. CKaveri
    4. DTungabhadra

    Answer: (B) Krishna

    Explanation

    The passage states that Kapilendra Dev conquered territories up to the Krishna river in the south.

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49. Question 49

    In Parashurama Vyayoga, how did Kapilendra Dev show his support for the Oriya language?

    <p>The beginning of the 15th century opened a new horizon for Oriya poets. It coincided with the most glorious period of Oriya history. Kapilendra Dev (1434-1467), a worthy son of the Orissan soil, usurped the kingdom from the hands of the Gangas, a southern dynasty, and became the monarch of Orissa. He conquered vast territories of the southern peninsula up to the Krishna river in the south and Gulbarga in the west, and united people of many languages under one administration. His victory in a number of battles created an atmosphere of self-confidence in the Oriyas as a heroic nation, and they directed their attention to improving their language and literature. As a result, a great poet like Sarala Das emerged from the society. King Kapilendra Dev also encouraged his people to write in Oriya and he himself included one Oriya poem in his Sanskrit work Parashurama Vyayoga and accepted Oriya as the state language, in place of Sanskrit and Tamil, and he issued a number of royal orders in Oriya. His ardent love for Jagannatha and his full dependence on Him contributed a lot to bring about a creative atmosphere.</p>
    1. ABy writing the entire work in Oriya
    2. BBy including an Oriya poem
    3. CBy translating it into multiple languages
    4. DBy prohibiting Sanskrit and Tamil languages

    Answer: (B) By including an Oriya poem

    Explanation

    The passage says Kapilendra Dev included one Oriya poem in his Sanskrit work Parashurama Vyayoga.

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100 questions with the answer key and explanations.

1. Question 1

   Match List-I with List-II.

   List-I	List-II
   A. Arbitrage	Purchase of currency where it is cheaper
   B. Hedging	Avoidance of foreign exchange risk
   C. Speculation	Accepting/seeking foreign exchange risk
   D. Exchange fluctuation	Spot rate varies frequently

   Foreign exchange concepts and meanings

   1. AA-I, B-IV, C-II, D-III
   2. BA-III, B-I, C-II, D-IV
   3. CA-I, B-IV, C-III, D-II
   4. DA-II, B-III, C-I, D-IV

   Answer: (A) A-I, B-IV, C-II, D-III

   Explanation

   Arbitrage, hedging, speculation and exchange-rate fluctuation are standard foreign-exchange terms; the selected mapping follows the source option.

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2. Question 2

   For the demand function of good x, Qd = f(Px, Py, income), the sum of own-price elasticity, cross-price elasticity and income elasticity of demand would be:

   1. Aone
   2. Bzero
   3. Ctwo
   4. Dn where n > 1

   Answer: (B) zero

   Explanation

   For a homogeneous demand function, the adding-up relation makes the sum of the relevant elasticities zero.

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3. Question 3

   What does not come under the purview of the functions of Reserve Bank of India?

   1. ACustodian of foreign exchange reserves
   2. BIssue of bank notes
   3. CLender of the last resort
   4. DMultiple expansion of credit

   Answer: (D) Multiple expansion of credit

   Explanation

   RBI performs the first three functions; multiple expansion of credit is mainly associated with commercial banking.

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4. Question 4

   In the Cobb-Douglas production function q = A L^alpha K^beta, where A, alpha and beta are positive, alpha and beta measure:

   1. AOutput elasticities of inputs
   2. BElasticity of substitution
   3. CInput price of output
   4. DTechnological condition

   Answer: (A) Output elasticities of inputs

   Explanation

   In Cobb-Douglas production, the exponents are the output elasticities with respect to the corresponding inputs.

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5. Question 5

   Arrange the taxes in the sequence in which they were introduced, earliest to latest: A. Commodities Transaction Tax; B. Securities Transaction Tax; C. Banking Cash Transaction Tax; D. Minimum Alternate Tax; E. Angel Tax.

   1. AD, A, E, B, C
   2. BB, C, A, E, D
   3. CD, B, C, E, A
   4. DC, D, B, A, E

   Answer: (A) D, A, E, B, C

   Explanation

   The selected sequence follows the chronology of the listed tax measures as represented in the source.

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6. Question 6

   The secular deterioration of terms of trade for less developed countries has been explained by: A. J.S. Mill; B. H.W. Singer; C. Adam Smith; D. Raul Prebisch; E. Jagdish Bhagwati.

   1. AB, D, E only
   2. BA, B, D only
   3. CA, D, E only
   4. DC, D, E only

   Answer: (A) B, D, E only

   Explanation

   The Prebisch-Singer thesis is associated with Raul Prebisch and H.W. Singer; this item is marked for review because the source option also includes Bhagwati.

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7. Question 7

   Consider the statements: A. According to accelerator models, investment demand is proportional to the change in GNP. B. The real rate is the nominal interest rate plus inflation. C. The higher the real interest rate, the higher the rental cost of capital. D. Investment is a stock concept. E. Rate of interest is a flow concept.

   1. AB and C only
   2. BA and B only
   3. CA and C only
   4. DA, B and C only

   Answer: (C) A and C only

   Explanation

   The accelerator model links investment to change in output, and a higher real interest rate raises the rental cost of capital.

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8. Question 8

   Consider the statements: A. Ecological footprint is a measure of human demand on the ecosystem. B. Top-down development stresses community participation. C. MDGs were to be achieved by 2016. D. SDGs comprise 17 goals.

   1. AA and D only
   2. BA, B and D only
   3. CA, C and D only
   4. DA, B, C and D

   Answer: (B) A, B and D only

   Explanation

   A and D are standard; this item is marked for review because top-down/community participation wording is conceptually debatable.

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9. Question 9

   Match List-I with List-II.

   List-I	List-II
   A. Top beneficiary from foreign exchange trading	I. John von Neumann and Oskar Morgenstern
   B. Competitive equilibrium is Pareto efficient	II. General equilibrium analysis
   C. Walras	III. London
   D. Game Theory	IV. First theorem of welfare economics

   Economics concepts and associations

   1. AA-I, B-III, C-II, D-IV
   2. BA-IV, B-III, C-II, D-I
   3. CA-I, B-II, C-III, D-IV
   4. DA-III, B-IV, C-II, D-I

   Answer: (D) A-III, B-IV, C-II, D-I

   Explanation

   The top foreign-exchange beneficiary is linked with London, competitive equilibrium with the first welfare theorem, Walras with general equilibrium analysis, and game theory with Neumann and Morgenstern.

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10. Question 10

    Inflation imposes several real costs. Which are costs of inflation? A. Shoeleather costs; B. Menu costs; C. Increased variability of relative prices; D. Unintended tax-liability changes due to non-indexation; E. Arbitrary redistribution of wealth associated with debts.

    1. AA, B, C only
    2. BC, D, E only
    3. CB, D, A only
    4. DA, B, C, D, E

    Answer: (D) A, B, C, D, E

    Explanation

    All listed items are standard costs or distortions associated with inflation.

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11. Question 11

    Which are possible reasons for surplus in balance of payments? A. Decline in imports; B. Decline in interest rate; C. Increase in exports; D. Increase in income tax; E. High outward FDI.

    1. AA, C, E only
    2. BA, B, C, E only
    3. CB, C, E, D only
    4. DA, C only

    Answer: (D) A, C only

    Explanation

    A decline in imports and an increase in exports directly improve the balance of payments.

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12. Question 12

    The phrase “demonstration effect” was coined by:

    1. AJames Duesenberry
    2. BJ.K. Galbraith
    3. CJoan Robinson
    4. DJ.M. Keynes

    Answer: (A) James Duesenberry

    Explanation

    Duesenberry is associated with the demonstration effect in consumption theory.

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13. Question 13

    The Nash equilibrium of the given payoff matrix is:

    1. AStrategy combination (A3, B2) with outcome (4,4)
    2. BStrategy combination (A3, B1) with outcome (5,2)
    3. CStrategy combination (A1, B2) with outcome (2,1)
    4. DStrategy combination (A2, B3) with outcome (3,1)

    Answer: (A) Strategy combination (A3, B2) with outcome (4,4)

    Explanation

    The source diagram indicates the equilibrium strategy combination corresponding to option A; marked for review because payoff OCR is visually noisy.

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14. Question 14

    Arrange the initiatives by starting year from oldest: A. Antyodaya Anna Yojana; B. Mid-day Meal Scheme; C. National Food Security Act; D. Revised Public Distribution System; E. Targeted Public Distribution System.

    1. AD, B, E, A, C
    2. BA, B, D, E, C
    3. CE, D, B, A, C
    4. DB, A, D, E, C

    Answer: (D) B, A, D, E, C

    Explanation

    The selected order follows the source option; the chronology should be reviewed against official programme dates.

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15. Question 15

    Consider statements about marginal cost and cost curves: A. MC schedule is obtained from successive TC values only. B. MC can be obtained from successive TC or TVC. C. MC can be obtained from successive TVC or TFC. D. Area under MC curve equals TC. E. AVC equals AC minus AFC.

    1. AB, D, E only
    2. BA, D, E only
    3. CA, C, D, E only
    4. DA, C, D only

    Answer: (A) B, D, E only

    Explanation

    MC can be derived from changes in total cost or total variable cost, and AVC = AC - AFC.

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16. Question 16

    A feasible solution in a linear programming problem:

    1. AA, D, E only
    2. BA, D only
    3. CA, E only
    4. DB, C, E only

    Answer: (C) A, E only

    Explanation

    A feasible solution must satisfy all constraints and non-negativity conditions; it need not optimize the objective function or be a corner point.

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17. Question 17

    Arrange Nobel laureates chronologically from earliest to latest: A. Arthur Lewis; B. Gunnar Myrdal; C. Milton Friedman; D. A.V. Banerjee; E. Lawrence Klein.

    1. AB, C, A, E, D
    2. BB, C, A, D, E
    3. CB, A, C, E, D
    4. DA, B, C, E, D

    Answer: (A) B, C, A, E, D

    Explanation

    The selected sequence follows the source option; marked for chronology review.

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18. Question 18

    Arrange theories in chronological order from earliest to latest: A. Patinkin’s Real Balance Effect; B. Reformulated quantity theory of money; C. Baumol’s theory of money; D. Cash transaction approach; E. Cash balance approach.

    1. AD, E, B, C, A
    2. BE, D, A, B, C
    3. CE, D, C, B, A
    4. DC, D, E, A, B

    Answer: (B) E, D, A, B, C

    Explanation

    The source option gives the chronological ordering; this should be reviewed because these monetary-theory dates are close and OCR is noisy.

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19. Question 19

    Arrange the expressions in increasing order of magnitude, given a > 0, b > 0 and x > 0.

    1. AD, A, C, B, E
    2. BD, A, B, C, E
    3. CD, B, C, A, E
    4. DE, B, C, A, D

    Answer: (D) E, B, C, A, D

    Explanation

    The visual source for the expressions is unclear, so the item follows the selected option and is marked for review.

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20. Question 20

    Which is not an assumption of the Coase theorem related to externalities and environmental problems?

    1. AAbsence of transaction costs
    2. BPresence of income effect
    3. CComplete information
    4. DComplete property rights

    Answer: (C) Complete information

    Explanation

    The source selected complete information; conceptually, Coase theorem usually assumes complete information, so this item is marked for review.

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21. Question 21

    Match List-I with List-II.

    List-I	List-II
    A. Labour capital ratio	Amount of labour per unit of capital used
    B. Labour intensive commodity	Commodity with lower capital-labour ratio
    C. Labour theory of value	Price determined by labour content
    D. Labour saving technical progress	Raises productivity of capital more than labour

    International trade terms and meanings

    1. AA-III, B-II, C-I, D-IV
    2. BA-II, B-III, C-I, D-IV
    3. CA-I, B-II, C-IV, D-III
    4. DA-I, B-III, C-IV, D-II

    Answer: (A) A-III, B-II, C-I, D-IV

    Explanation

    The mapping follows labour-capital ratio, labour-intensive commodity, labour theory of value and labour-saving technical progress definitions.

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22. Question 22

    What is the permissible limit of FDI in India’s defence industry through government route?

    1. A26 percent
    2. B51 percent
    3. C74 percent
    4. D100 percent

    Answer: (B) 51 percent

    Explanation

    The source indicates the government-route limit as 51 percent; current policy details can vary, so this is marked for review.

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23. Question 23

    Arrange chronologically from earliest to latest: A. A.W. Phillips: Phillips Curve; B. Keynes: General Theory; C. Adam Smith: Theory of Growth; D. Muth: Rational Expectations; E. Solow: Growth Model.

    1. AA, B, C, D, E
    2. BC, B, E, A, D
    3. CB, A, C, E, D
    4. DE, D, C, B, A

    Answer: (B) C, B, E, A, D

    Explanation

    Adam Smith predates Keynes, followed by Solow, Phillips and Muth.

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24. Question 24

    Which value indicates that each woman is being replaced by one daughter, leading to stable population over time?

    1. AGFR = 1
    2. BNRR = 1
    3. CTFR = 1
    4. DGRR = 1

    Answer: (C) TFR = 1

    Explanation

    Conceptually NRR = 1 indicates replacement by one daughter, but the source selected TFR; marked for review.

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25. Question 25

    Match List-I with List-II.

    List-I	List-II
    A. General heteroscedasticity test	White
    B. General test for autocorrelation	Breusch-Godfrey
    C. Test of simultaneity	Hausman
    D. General test of specification error	Ramsey

    Econometric tests and names

    1. AA-I, B-II, C-III, D-IV
    2. BA-IV, B-II, C-I, D-III
    3. CA-III, B-IV, C-II, D-I
    4. DA-III, B-I, C-II, D-IV

    Answer: (C) A-III, B-IV, C-II, D-I

    Explanation

    White tests heteroscedasticity, Breusch-Godfrey autocorrelation, Hausman simultaneity/specification contexts, and Ramsey specification error; source mapping is kept with review.

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26. Question 26

    ANCOVA models include regressors that are:

    1. AOnly quantitative variables
    2. BOnly qualitative variables
    3. COnly categorical variables
    4. DBoth qualitative and quantitative variables

    Answer: (D) Both qualitative and quantitative variables

    Explanation

    ANCOVA combines analysis of covariance with both qualitative factors and quantitative covariates.

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27. Question 27

    Gross Domestic Product (GDP) is defined as:

    1. AGDP = Aggregate Domestic Income + Indirect Taxes + Depreciation
    2. BGDP = Aggregate Domestic Income + Indirect Taxes - Depreciation
    3. CGDP = Aggregate Domestic Income + Depreciation - Indirect Taxes
    4. DGDP = Aggregate Domestic Income + Depreciation - Net Domestic Product

    Answer: (C) GDP = Aggregate Domestic Income + Depreciation - Indirect Taxes

    Explanation

    The source selected option C; the national-income identity wording is unusual, so this item is marked for review.

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28. Question 28

    During how many first completed days of life is the death of a baby defined as neonatal death?

    1. AFirst 7 completed days of life
    2. BFirst 14 completed days of life
    3. CFirst 21 completed days of life
    4. DFirst 28 completed days of life

    Answer: (D) First 28 completed days of life

    Explanation

    Neonatal mortality refers to deaths during the first 28 days of life.

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29. Question 29

    Which is the current global measurement of the extreme poverty line?

    1. A$1.90 a day
    2. B$2.00 a day
    3. C$2.15 a day
    4. D$2.25 a day

    Answer: (A) $1.90 a day

    Explanation

    The source selected $1.90; current World Bank extreme-poverty line has changed, so the item is marked for review.

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30. Question 30

    As per Walras’ law, the sum of excess demand for money, bonds and current output must be equal to:

    1. Aone
    2. Bzero
    3. Cmore than one
    4. Dless than one

    Answer: (B) zero

    Explanation

    Walras’ law states that the sum of excess demands across markets is zero.

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31. Question 31

    Arrange construction steps from first to last: A. Budget; B. Utility analysis; C. Demand curve analysis; D. Indifference curve analysis; E. Consumer’s equilibrium.

    1. AD, B, A, E, C
    2. BA, B, C, D, E
    3. CB, D, E, C, A
    4. DB, D, A, E, C

    Answer: (D) B, D, A, E, C

    Explanation

    Utility/indifference/budget/equilibrium are used to derive the demand curve; the selected sequence follows the source option.

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32. Question 32

    Arrange Acts chronologically from earliest to latest: A. Chit Fund Act; B. Export Import Bank of India Act; C. Prevention of Money Laundering Act; D. National Housing Bank Act; E. Regional Rural Banks Act.

    1. AE, B, A, D, C
    2. BE, D, C, B, A
    3. CD, C, B, E, A
    4. DD, A, E, C, B

    Answer: (D) D, A, E, C, B

    Explanation

    The source selected option D; statutory chronology appears inconsistent, so this item is marked for review.

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33. Question 33

    Testing for cointegration is performed by:

    1. AChow test
    2. BPhillips-Perron test
    3. CEngle-Granger test
    4. DError-correction mechanism

    Answer: (A) Chow test

    Explanation

    Cointegration is normally tested by Engle-Granger and related methods, not Chow; source selected option A, so review is needed.

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34. Question 34

    Match List-I with List-II.

    List-I	List-II
    A. Travel cost method	Environmental valuation
    B. Stern Review	Climate change
    C. Brundtland Commission Report	Sustainable development
    D. User cost	Exhaustible resources

    Environmental economics terms

    1. AA-IV, B-II, C-I, D-III
    2. BA-IV, B-I, C-III, D-II
    3. CA-IV, B-III, C-I, D-II
    4. DA-III, B-IV, C-I, D-II

    Answer: (C) A-IV, B-III, C-I, D-II

    Explanation

    Travel cost is environmental valuation, Stern Review climate change, Brundtland sustainable development, and user cost exhaustible resources.

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35. Question 35

    Which combinations of theorem and subject are correctly matched? A. Modigliani-Miller: price of goods and real return to factor; B. Dorfman-Steiner: advertisement expenditure; C. Arrow’s impossibility: social choice; D. Stolper-Samuelson: capital structure; E. Fisher separation: profit maximisation motivation.

    1. AA, B, D only
    2. BB, D, E only
    3. CA, C, D only
    4. DB, C, E only

    Answer: (C) A, C, D only

    Explanation

    Dorfman-Steiner, Arrow and Fisher seem plausible while A/D are mismatched; source selected C, so review is needed.

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36. Question 36

    The concept of efficiency wage theory was developed by:

    1. AYellen and Stiglitz
    2. BJan Tinbergen
    3. CAlfred Marshall
    4. DVilfredo Pareto

    Answer: (A) Yellen and Stiglitz

    Explanation

    Efficiency wage theory is associated with modern labour-market work including Yellen and Stiglitz.

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37. Question 37

    India is a member of which World Bank Group institutions? A. ICSID; B. IDA; C. IFC; D. MIGA; E. IBRD.

    1. AA, B, C only
    2. BB, C, D only
    3. CB, C, D, E only
    4. DA, B, D, E only

    Answer: (C) B, C, D, E only

    Explanation

    India is a member of IBRD, IDA, IFC and MIGA; it is not a member of ICSID.

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38. Question 38

    In the leakage-injection approach to income determination, an increase in lump-sum tax ceteris paribus shifts:

    1. AInvestment plus government spending line upward
    2. BInvestment plus government spending line downward
    3. CSavings plus tax line to the left
    4. DIncreases equilibrium income

    Answer: (A) Investment plus government spending line upward

    Explanation

    The source selected option A; conceptually tax changes affect leakages, so this item is marked for review.

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39. Question 39

    As per the gravity model of world trade, which components determine the volume of trade between two countries? A. GDP; B. Distance; C. Foreign exchange rate; D. Foreign trade intensity; E. Foreign investment.

    1. AA and B only
    2. BB and C only
    3. CA and C only
    4. DA and E only

    Answer: (B) B and C only

    Explanation

    The gravity model centrally uses GDP/economic size and distance; source selected B and C, so review is needed.

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40. Question 40

    Match List-I with List-II.

    List-I	List-II
    A. Rachel Carson	Silent Spring
    B. Kenneth Boulding	Economics of the Coming Spaceship Earth
    C. G. Hardin	Tragedy of the Commons
    D. Partha Dasgupta	Economics of Biodiversity

    Environmental authors and works

    1. AA-III, B-IV, C-I, D-II
    2. BA-IV, B-II, C-III, D-I
    3. CA-III, B-II, C-IV, D-I
    4. DA-I, B-II, C-III, D-IV

    Answer: (D) A-I, B-II, C-III, D-IV

    Explanation

    Rachel Carson is Silent Spring, Boulding is Spaceship Earth, Hardin is Tragedy of Commons, and Dasgupta is economics of biodiversity; source selected D but visual option mapping is noisy.

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41. Question 41

    Match List-I with List-II.

    List-I	List-II
    A. W.W. Leontief	Input-output model
    B. Jan Tinbergen	Shadow price
    C. J.M. Keynes	Consumption function
    D. Joseph Bertrand	Price competition with homogeneous products

    Economists and contributions

    1. AA-II, B-III, C-I, D-IV
    2. BA-IV, B-I, C-II, D-III
    3. CA-III, B-IV, C-I, D-II
    4. DA-I, B-II, C-III, D-IV

    Answer: (B) A-IV, B-I, C-II, D-III

    Explanation

    Leontief is input-output, Tinbergen linked with shadow price/planning, Keynes with consumption function, and Bertrand with price competition.

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42. Question 42

    Identify correct statements: A. Option value = future use value + bequest value + vicarious value. B. Adverse selection leads to market failure. C. Contingent valuation is a type of cost-benefit analysis. D. Public good and common goods have same characteristics. E. IRR is a criterion in cost-benefit analysis.

    1. AA and B only
    2. BA, C, D only
    3. CA, B, E only
    4. DC, D, E only

    Answer: (C) A, B, E only

    Explanation

    Adverse selection can cause market failure and IRR is used in appraisal; option value wording is kept as in source with review.

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43. Question 43

    The production function Q = LK/(L + K) is:

    1. AHomogeneous of degree 1
    2. BHomogeneous of degree 0
    3. CHomogeneous of degree 2
    4. DHomogeneous of degree 1/2

    Answer: (A) Homogeneous of degree 1

    Explanation

    Scaling L and K by t scales LK/(L+K) by t, so it is homogeneous of degree one.

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44. Question 44

    Under the Green Climate Fund of UNFCCC, what ratio of financial allocation between adaptation and mitigation activities is aimed?

    1. A25:75
    2. B40:60
    3. C50:50
    4. D75:25

    Answer: (B) 40:60

    Explanation

    The source selected 40:60; climate-finance targets are policy-specific, so this should be reviewed.

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45. Question 45

    The quadratic form ax^2 + by^2 + 2hxy is negative for all non-zero x and y if and only if:

    1. Aa > 0 and determinant < 0
    2. Ba < 0 and determinant < 0
    3. Ca < 0 and determinant > 0
    4. Da < 0 and determinant != 0

    Answer: (D) a < 0 and determinant != 0

    Explanation

    For negative definiteness, a < 0 and the determinant should be positive; source selected option D, so review is needed.

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46. Question 46

    Estimation of regression coefficients in the presence of high but not perfect multicollinearity may result in all of these except:

    1. AHigh confidence interval for estimates
    2. BAlmost all estimates are statistically significant
    3. CA high R2
    4. DEstimates are all BLUE

    Answer: (B) Almost all estimates are statistically significant

    Explanation

    Multicollinearity often gives large standard errors and high R2, not many statistically significant individual coefficients.

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47. Question 47

    Suppose Q = 20/P and P <= 10, MC = 1. Profit-maximising price and quantity will be:

    1. AP=20, Q=4
    2. BP=5, Q=4
    3. CP=10, Q=2
    4. DP=4, Q=5

    Answer: (C) P=10, Q=2

    Explanation

    The source selects P=10, Q=2; marked for review because the demand expression is visually noisy.

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48. Question 48

    Position of points O(0,0) and P(2,-3) in the graph region of inequality 2x - 3y < 5 will be:

    1. AO inside and P outside
    2. BO and P both outside
    3. CO and P both inside
    4. DO outside and P inside

    Answer: (A) O inside and P outside

    Explanation

    O gives 0 < 5, so it is inside. P gives 13 < 5 false, so it is outside.

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49. Question 49

    Which is the biggest item of grants-in-aid to states assigned by the Fifteenth Finance Commission?

    1. ADisaster risk management grants
    2. BRevenue deficit grants
    3. CLocal bodies grants
    4. DSector specific grants

    Answer: (C) Local bodies grants

    Explanation

    The source selected local bodies grants as the biggest item.

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50. Question 50

    Identify correct statements: A. If PCC for a good is parallel to horizontal axis, demand is unitary elastic. B. Given log D = a + B log y + gamma log p, elasticity of log D with respect to log p is gamma. C. Stability condition in simple Keynesian system is 0 < MPC < 1. D. Fixed cost curve is a rectangular hyperbola.

    1. AA, C only
    2. BA, C, D only
    3. CA, B, C only
    4. DA, B, C, D

    Answer: (D) A, B, C, D

    Explanation

    The source marks all statements; statement D is conceptually debatable, so review is retained.

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51. Question 51

    A and B are two events such that P(A)=0.4 and P(A intersection B)=0.2. Then P(A intersection B) is:

    1. A0.4
    2. B0.2
    3. C0.6
    4. D0.8

    Answer: (A) 0.4

    Explanation

    The question text appears visually inconsistent because it asks for the same intersection probability already given; source selected A, so review is needed.

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52. Question 52

    Consider statements regarding Regional Rural Banks in India: A. RRBs were set up on Narasimham Working Group recommendation, 1975. B. Largest equity proportion is held by sponsor bank. C. NABARD coordinates all RRB activities. E. RRBs are provided refinance through NABARD.

    1. AA, C, E only
    2. BA, B, C, D only
    3. CB, C, E only
    4. DA, E only

    Answer: (B) A, B, C, D only

    Explanation

    The source option includes a statement not visible in OCR, so the item should be reviewed.

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53. Question 53

    The lowest value of observations is 4.5 and range is 10.9. Arithmetic mean is 19.9 and median is 15.6. Which statement is correct?

    1. AArithmetic mean is wrong, but median is correct
    2. BArithmetic mean is right, but median is wrong
    3. CBoth arithmetic mean and median are wrong
    4. DBoth arithmetic mean and median are right

    Answer: (C) Both arithmetic mean and median are wrong

    Explanation

    The maximum would be 15.4, so a mean of 19.9 and a median of 15.6 are not possible.

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54. Question 54

    Which state secured top rank in the State Energy Efficiency Index 2023 released by NITI Aayog?

    1. AAndhra Pradesh
    2. BGujarat
    3. CHaryana
    4. DKarnataka

    Answer: (B) Gujarat

    Explanation

    The source selected Gujarat; current-state ranking should be verified if used high-stakes.

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55. Question 55

    Match List-I with List-II.

    List-I	List-II
    A. Narasimham Committee Report	RBI should withdraw 91-day T-bill from market
    B. Ghosh Committee Report	Frauds and malpractices in banks
    C. Padmanabhan Committee	Style of inspection and follow-up
    D. Saraf Committee	Technology issues in banking

    Banking committees and issues

    1. AA-III, B-IV, C-II, D-I
    2. BA-III, B-I, C-IV, D-II
    3. CA-II, B-III, C-IV, D-I
    4. DA-IV, B-II, C-I, D-III

    Answer: (D) A-IV, B-II, C-I, D-III

    Explanation

    The source mapping is visually noisy and therefore marked for review.

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56. Question 56

    To test H0: mu = mu0 when both mu and sigma are unknown, the relevant test statistic is:

    1. At(n-1) statistic using sample standard deviation
    2. Bz statistic
    3. Ct(n) statistic
    4. Dnormal approximation only

    Answer: (C) t(n) statistic

    Explanation

    The source selected option C, but the visual formula is unclear; the item is marked for review.

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57. Question 57

    When imports are restricted with quota rather than tariff, the cost is sometimes magnified by a process known as:

    1. ARent seeking
    2. BQuota seeking
    3. CTax seeking
    4. DNone of the above

    Answer: (B) Quota seeking

    Explanation

    Quota restrictions can generate quota seeking/rent seeking; source selected quota seeking.

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58. Question 58

    Consider statements regarding NBFCs in India: A. NBFCs are registered under RBI Act 1948. B. NBFCs cannot accept demand deposits. C. NBFCs invest a specified percent of assets in unencumbered approved securities. D. NBFCs in merchant banking/portfolio management are governed by SEBI. E. Every NBFC has to create reserve fund.

    1. AA, B, C, D only
    2. BB, C, D, E only
    3. CB, D, E only
    4. DB, C, E only

    Answer: (A) A, B, C, D only

    Explanation

    The source selected A-D, but RBI Act year and NBFC conditions need review.

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59. Question 59

    Which SDG-objective pairs are correctly matched? A. Goal 7: Affordable and clean energy; B. Goal 10: Climate action; C. Goal 13: Reduced inequality; D. Goal 14: Life below water; E. Goal 15: Life on land.

    1. AB, C, D only
    2. BC, D, E only
    3. CB, C, E only
    4. DA, D, E only

    Answer: (B) C, D, E only

    Explanation

    Goal 7, 14 and 15 are correctly matched, while 10 and 13 are swapped; source selected B, so review is needed.

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60. Question 60

    In which agriculture year was India’s first Agriculture Census carried out?

    1. A1950-51
    2. B1960-61
    3. C1970-71
    4. D1980-81

    Answer: (A) 1950-51

    Explanation

    The source selected 1950-51; official census chronology should be reviewed.

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61. Question 61

    Choose the chronological sequence, earliest to latest: A. FRBM Act; B. Nationalisation of banks in India; C. Second Five Year Plan; D. SIDBI; E. EXIM Bank.

    1. AC, B, E, D, A
    2. BC, B, A, D, E
    3. CC, A, B, D, E
    4. DC, E, A, B, D

    Answer: (B) C, B, A, D, E

    Explanation

    The source selected option B; actual chronology suggests review is needed.

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62. Question 62

    Given y = (1+x)/(1-2x), find dy/dx.

    1. A3/(1-2x)
    2. B3/(1-2x)^2
    3. C3/(1-2x)^3
    4. D1/(1-x)^2

    Answer: (B) 3/(1-2x)^2

    Explanation

    By quotient rule, dy/dx = [(1-2x) + 2(1+x)]/(1-2x)^2 = 3/(1-2x)^2.

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63. Question 63

    The rise in nominal stock of money causes:

    1. AIncrease in nominal interest rate and decrease in real income
    2. BReduction in nominal interest rate and increase in real income
    3. CReduction in nominal interest rate and decrease in real income
    4. DIncrease in nominal interest rate and increase in real income

    Answer: (B) Reduction in nominal interest rate and increase in real income

    Explanation

    In the standard money-market/IS-LM effect, higher money supply lowers interest rate and raises income.

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64. Question 64

    Match List-I with List-II.

    List-I	List-II
    A. Ad valorem tariff	Percentage of value
    B. Autarky	No trade with other countries
    C. Compound tariff	Combination of ad valorem and specific tariff
    D. Specific tariff	Fixed sum per unit

    Tariff terms

    1. AA-I, B-II, C-III, D-IV
    2. BA-IV, B-III, C-II, D-I
    3. CA-IV, B-I, C-II, D-III
    4. DA-III, B-I, C-II, D-IV

    Answer: (B) A-IV, B-III, C-II, D-I

    Explanation

    Ad valorem tariff is percentage value, autarky is no trade, compound combines tariffs, and specific tariff is fixed sum per unit.

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65. Question 65

    Arrange events from oldest: A. IRDA Act passed; B. Financial inclusion introduced in banking sector; C. Global Trust Bank merged with UTI Bank; D. 364-day treasury bill introduced with market-related rates; E. FRBM Act passed.

    1. AD, A, C, E, B
    2. BD, C, E, A, B
    3. CE, D, B, A, C
    4. DA, C, D, E, B

    Answer: (B) D, C, E, A, B

    Explanation

    The source selected option B; exact event dates should be reviewed.

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66. Question 66

    Match List-I with List-II.

    List-I	List-II
    A. Endogenous variable	Simultaneous equation
    B. Count R-square	Model classification measure
    C. Ljung-Box statistic	Autocorrelation diagnostic
    D. Least-square dummy variable model	Panel data regression

    Econometric terms

    1. AA-III, B-I, C-IV, D-II
    2. BA-II, B-III, C-I, D-IV
    3. CA-I, B-IV, C-III, D-II
    4. DA-II, B-IV, C-I, D-III

    Answer: (B) A-II, B-III, C-I, D-IV

    Explanation

    The source mapping is retained but OCR of List-II is incomplete, so this item is marked for review.

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67. Question 67

    Match List-I with List-II.

    List-I	List-II
    A. PQLI	Morris D. Morris
    B. HDI	Mahbub ul Haq
    C. Capability approach	Amartya Sen
    D. Multidimensional Poverty Index	Alkire and Foster

    Development measures and scholars

    1. AA-IV, B-II, C-I, D-III
    2. BA-IV, B-III, C-II, D-I
    3. CA-I, B-II, C-III, D-IV
    4. DA-IV, B-I, C-III, D-II

    Answer: (A) A-IV, B-II, C-I, D-III

    Explanation

    PQLI is associated with Morris, HDI with Mahbub ul Haq, capability approach with Sen, and MPI with Alkire-Foster.

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68. Question 68

    Arrange Fifteenth Finance Commission tax devolution criteria by weightage from highest.

    1. AA, B, C, D, E
    2. BA, D, B, E, C
    3. CB, A, C, E, D
    4. DC, D, A, B, E

    Answer: (A) A, B, C, D, E

    Explanation

    Income distance has the highest weight, followed by population and other criteria; source selected option A.

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69. Question 69

    Match List-I with List-II.

    List-I	List-II
    A. NITI Aayog	Knowledge support
    B. R. Axelrod	Tit-for-tat strategy
    C. J. Stiglitz	Efficiency wage theory
    D. India’s First Five Year Plan	K.N. Raj

    Economists/institutions and associations

    1. AA-I, B-II, C-III, D-IV
    2. BA-IV, B-III, C-I, D-II
    3. CA-IV, B-I, C-II, D-III
    4. DA-II, B-I, C-III, D-IV

    Answer: (C) A-IV, B-I, C-II, D-III

    Explanation

    NITI Aayog is knowledge support, Axelrod tit-for-tat, Stiglitz efficiency wage, and K.N. Raj linked with India’s First Plan.

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70. Question 70

    Choose correct National Health Policy 2017 targets: A. IMR 30; B. U5MR 20; C. MMR 100; D. TFR 2.1; E. Life expectancy 70 years.

    1. AA, B, C only
    2. BB, C, D only
    3. CA, C, E only
    4. DC, D, E only

    Answer: (C) A, C, E only

    Explanation

    The source selected A, C and E; policy target dates/values should be reviewed.

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71. Question 71

    In Human Development Report 2023/2024, out of 193 countries in HDI, which group has the maximum number of countries?

    1. AVery high human development
    2. BHigh human development
    3. CMedium human development
    4. DLow human development

    Answer: (D) Low human development

    Explanation

    The source selected low human development; this classification should be checked against the HDR table.

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72. Question 72

    Match List-I with List-II.

    List-I	List-II
    A. Montreal Protocol	Control of CFC
    B. COP 28	Climate conference
    C. Rio +20	Sustainable development
    D. Willingness to Accept	Contingent valuation method

    Environmental agreements and terms

    1. AA-II, B-III, C-IV, D-I
    2. BA-II, B-I, C-IV, D-III
    3. CA-I, B-II, C-III, D-IV
    4. DA-IV, B-III, C-II, D-I

    Answer: (A) A-II, B-III, C-IV, D-I

    Explanation

    Montreal Protocol controls CFCs, COP28 is a climate conference, Rio+20 relates to sustainable development, and WTA relates to contingent valuation.

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73. Question 73

    Which are instruments of capital market? A. Venture capital; B. Treasury bills; C. Certificate of Deposit; D. Global Depository Receipts; E. Inter Corporate Deposits.

    1. AB, D, E only
    2. BA, D only
    3. CA, B, D only
    4. DA, D, E only

    Answer: (D) A, D, E only

    Explanation

    Venture capital, GDRs and inter-corporate deposits are treated here as capital-market instruments; T-bills/CDs are money-market instruments.

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74. Question 74

    Match List-I with List-II.

    List-I	List-II
    A. Bank run	P. Diamond
    B. q-ratio	J. Tobin
    C. Genuine saving	D. Pearce
    D. Microfinance	M. Yunus

    Financial concepts and scholars

    1. AA-IV, B-I, C-III, D-II
    2. BA-III, B-IV, C-I, D-II
    3. CA-III, B-II, C-IV, D-I
    4. DA-II, B-IV, C-I, D-III

    Answer: (B) A-III, B-IV, C-I, D-II

    Explanation

    Bank run is linked with Diamond, q-ratio with Tobin, genuine saving with Pearce, and microfinance with Yunus.

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75. Question 75

    Heteroscedasticity may arise due to many reasons. Which is not a reason?

    1. AExtremely low or high X/Y values
    2. BCorrelation of variables over time
    3. CIncorrect functional form
    4. DIncorrect transformation of variables

    Answer: (B) Correlation of variables over time

    Explanation

    Serial correlation over time is an autocorrelation issue rather than a direct reason for heteroscedasticity.

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76. Question 76

    Arrange chronologically from earliest to latest: A. Coase theorem; B. Hotelling principle; C. Nash equilibrium; D. Kyoto Protocol; E. IUCN establishment.

    1. AB, E, C, A, D
    2. BB, E, A, C, D
    3. CB, A, D, E, C
    4. DE, B, A, C, D

    Answer: (A) B, E, C, A, D

    Explanation

    The source selected option A; exact dates suggest possible review.

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77. Question 77

    Identify correct statements: A. First UN Conference on Human Environment was held in Norway in 1972. B. In I=PAT, P stands for poverty. C. Pollution tax was suggested by Pigou. D. Population growth follows logistic distribution. E. Hedonic pricing values tourism sites.

    1. AA, D, E only
    2. BC, D, E only
    3. CA, B, E only
    4. DC, D only

    Answer: (B) C, D, E only

    Explanation

    Pigovian pollution tax and logistic population growth are standard; hedonic pricing wording is plausible in environmental valuation.

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78. Question 78

    After swapping explanatory and response variables in a regression and refitting, what do you expect?

    1. ACorrelation will change
    2. BSign of slope will change
    3. CCoefficient of determination will change
    4. DSSE will change

    Answer: (B) Sign of slope will change

    Explanation

    Correlation and R2 remain symmetric, but regression slope changes reciprocally while retaining sign; SSE changes. Source selected sign change, so review is needed.

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79. Question 79

    Arrange chronologically: A. WTO; B. GATT; C. New Economic Policy of India; D. GST; E. NABARD.

    1. AB, C, E, A, D
    2. BB, E, C, A, D
    3. CB, D, E, C, A
    4. DA, B, C, E, D

    Answer: (A) B, C, E, A, D

    Explanation

    GATT predates all, NABARD predates NEP, so source option A appears questionable; review needed.

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80. Question 80

    Which is not an instrument of monetary policy?

    1. ACash reserve ratio
    2. BOpen market operation
    3. CBank rate
    4. DTax rate

    Answer: (D) Tax rate

    Explanation

    Tax rate is a fiscal policy instrument, not a monetary policy instrument.

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81. Question 81

    Which organisation developed the UPI system in India and in which year?

    1. ASEBI, 2016
    2. BSBI, 2016
    3. CRBI, 2015
    4. DNPCI, 2016

    Answer: (D) NPCI, 2016

    Explanation

    UPI was developed by NPCI and launched in 2016.

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82. Question 82

    Which are attempts of economic integration among developing countries?

    1. ACentral American Common Market
    2. BCaribbean Free Trade Association
    3. CLatin American Free Trade Association
    4. DAll of the above

    Answer: (D) All of the above

    Explanation

    All three listed arrangements are examples of regional/economic integration attempts.

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83. Question 83

    Consider statements regarding public goods: A. Public good is nonexclusive. B. National defence is public good. C. Public good is rival. D. Public good provides benefits at non-zero marginal cost. E. Public good creates inefficiency in consumption.

    1. AA and B only
    2. BB and C only
    3. CC and D only
    4. DD and E only

    Answer: (A) A and B only

    Explanation

    Public goods are non-excludable/non-rival, and national defence is the classic example.

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84. Question 84

    As per NFHS-5, what was the number of females per 1000 males during 2019-21?

    1. A975
    2. B991
    3. C1003
    4. D1020

    Answer: (C) 1003

    Explanation

    NFHS-5 reported 1020 females per 1000 males nationally, but the source selected 1003; review is needed.

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85. Question 85

    Arrange theories chronologically from earliest to latest: A. Absorption approach; B. Factor Price Equalisation theory; C. Reciprocal Dumping Model; D. Leontief Paradox; E. Immiserizing Growth Theory.

    1. AB, D, A, E, C
    2. BD, A, B, C, E
    3. CE, D, B, A, C
    4. DD, A, C, E, B

    Answer: (A) B, D, A, E, C

    Explanation

    The source selected option A; chronology should be reviewed.

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86. Question 86

    Which committees were set up for banking sector reforms in India? A. Jalan Committee; B. Ghosh Committee; C. Saraf Committee; D. Gokarn Committee; E. Tarapore Committee.

    1. AA, B, D only
    2. BB, C, E only
    3. CC, D, E only
    4. DA, D, C only

    Answer: (C) C, D, E only

    Explanation

    The source selected option C; banking-committee grouping should be reviewed.

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87. Question 87

    The ____ effect implies nominal interest rates tend to be high when inflation is high and low when inflation is low.

    1. ATobin effect
    2. BBaumol effect
    3. CFisher effect
    4. DPatinkin effect

    Answer: (D) Patinkin effect

    Explanation

    This is normally the Fisher effect; source selected Patinkin effect, so review is needed.

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88. Question 88

    Match List-I with List-II.

    List-I	List-II
    A. Monopoly theory of distribution	Robinson
    B. Theory of profit	Walker
    C. Full cost pricing	Hall and Hitch
    D. Modern theory of rent	Kalecki

    Distribution/pricing theories and economists

    1. AA-II, B-III, C-I, D-IV
    2. BA-III, B-I, C-IV, D-II
    3. CA-III, B-IV, C-II, D-I
    4. DA-IV, B-III, C-I, D-II

    Answer: (B) A-III, B-I, C-IV, D-II

    Explanation

    The source mapping is retained; exact attribution should be reviewed.

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89. Question 89

    Consider statements on market efficiency and externalities. Which are correct?

    1. AA, B, E only
    2. BA, B, D only
    3. CA, E only
    4. DB, D, E only

    Answer: (C) A, E only

    Explanation

    Externalities make market solutions inefficient and competitive equilibrium is Pareto efficient under standard assumptions.

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90. Question 90

    Suppose savings function is S = -5 + 0.3Y. Find the correct answer.

    1. AAPC < MPC
    2. BAPC = MPC
    3. CAPS > MPS
    4. DAPC > MPC

    Answer: (D) APC > MPC

    Explanation

    C = Y - S = 5 + 0.7Y, so APC = 5/Y + 0.7 is greater than MPC = 0.7.

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91. Question 91

    Find the social loss because of moving from competitive to monopoly price.

    <p>Diagram summary: price per unit is on the vertical axis and quantity on the horizontal axis. The competitive price/output are Pc and Qc; monopoly price/output are Pm and Qm. The diagram marks rectangle A and triangles B and C around demand, marginal revenue and marginal cost to identify transfer and deadweight-loss areas.</p>
    1. AA
    2. BA and B
    3. CB and C
    4. DA only

    Answer: (B) A and B

    Explanation

    The source selected A and B; diagram interpretation is marked for review.

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92. Question 92

    Choose the correct answer from the monopoly-power diagram alternatives.

    <p>Diagram summary: price per unit is on the vertical axis and quantity on the horizontal axis. The competitive price/output are Pc and Qc; monopoly price/output are Pm and Qm. The diagram marks rectangle A and triangles B and C around demand, marginal revenue and marginal cost to identify transfer and deadweight-loss areas.</p>
    1. AMonopoly output is environment friendly compared to competitive output
    2. BCompetitive output is environment friendly compared to monopoly output
    3. CBoth are equally harmful
    4. DBoth are equally environmentally friendly

    Answer: (B) Competitive output is environment friendly compared to monopoly output

    Explanation

    The source selected competitive output as environmentally preferable.

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93. Question 93

    As a result of higher price, the producer gains and loses by what amounts respectively?

    <p>Diagram summary: price per unit is on the vertical axis and quantity on the horizontal axis. The competitive price/output are Pc and Qc; monopoly price/output are Pm and Qm. The diagram marks rectangle A and triangles B and C around demand, marginal revenue and marginal cost to identify transfer and deadweight-loss areas.</p>
    1. AB, A
    2. BB, C
    3. CA, C
    4. DA only

    Answer: (D) A only

    Explanation

    The source selected A only; diagram area interpretation should be reviewed.

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94. Question 94

    Because of higher price from Pc to Pm, find the producer gain (producer surplus).

    <p>Diagram summary: price per unit is on the vertical axis and quantity on the horizontal axis. The competitive price/output are Pc and Qc; monopoly price/output are Pm and Qm. The diagram marks rectangle A and triangles B and C around demand, marginal revenue and marginal cost to identify transfer and deadweight-loss areas.</p>
    1. AA + C
    2. BA - C
    3. CA + B
    4. DB + C

    Answer: (B) A - C

    Explanation

    The source selected A - C; diagram interpretation should be reviewed.

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95. Question 95

    Deadweight loss from monopoly power is:

    <p>Diagram summary: price per unit is on the vertical axis and quantity on the horizontal axis. The competitive price/output are Pc and Qc; monopoly price/output are Pm and Qm. The diagram marks rectangle A and triangles B and C around demand, marginal revenue and marginal cost to identify transfer and deadweight-loss areas.</p>
    1. AA + B
    2. BA + C
    3. CA
    4. DB + C

    Answer: (D) B + C

    Explanation

    The standard monopoly deadweight loss is the pair of triangles B + C in this diagram.

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96. Question 96

    What was the revenue deficit as percentage of GDP?

    <p>Total receipts are Rs. 400 crore: revenue receipts Rs. 250 crore and capital receipts Rs. 150 crore. Revenue receipts include tax revenue Rs. 220 crore and non-tax revenue Rs. 30 crore. Capital receipts include borrowings and other liabilities Rs. 100 crore. Revenue expenditure is Rs. 300 crore, including interest payments Rs. 90 crore and grants for creation of capital assets Rs. 20 crore. Capital expenditure is Rs. 100 crore. GDP at current prices is Rs. 2000 crore. Current account deficit is Rs. 50 crore.</p>
    1. A2.5%
    2. B3.0%
    3. C3.5%
    4. D4.0%

    Answer: (A) 2.5%

    Explanation

    Revenue deficit = revenue expenditure 300 - revenue receipts 250 = 50. As a percentage of GDP 2000, this is 2.5%.

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97. Question 97

    What was the fiscal deficit as percentage of GDP?

    <p>Total receipts are Rs. 400 crore: revenue receipts Rs. 250 crore and capital receipts Rs. 150 crore. Revenue receipts include tax revenue Rs. 220 crore and non-tax revenue Rs. 30 crore. Capital receipts include borrowings and other liabilities Rs. 100 crore. Revenue expenditure is Rs. 300 crore, including interest payments Rs. 90 crore and grants for creation of capital assets Rs. 20 crore. Capital expenditure is Rs. 100 crore. GDP at current prices is Rs. 2000 crore. Current account deficit is Rs. 50 crore.</p>
    1. A5%
    2. B10%
    3. C12.5%
    4. D15%

    Answer: (B) 10%

    Explanation

    Fiscal deficit equals borrowings and other liabilities, Rs. 100 crore. 100/2000 x 100 = 5%, but source selected 10%, so review is needed.

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98. Question 98

    What was the primary deficit as percentage of GDP?

    <p>Total receipts are Rs. 400 crore: revenue receipts Rs. 250 crore and capital receipts Rs. 150 crore. Revenue receipts include tax revenue Rs. 220 crore and non-tax revenue Rs. 30 crore. Capital receipts include borrowings and other liabilities Rs. 100 crore. Revenue expenditure is Rs. 300 crore, including interest payments Rs. 90 crore and grants for creation of capital assets Rs. 20 crore. Capital expenditure is Rs. 100 crore. GDP at current prices is Rs. 2000 crore. Current account deficit is Rs. 50 crore.</p>
    1. A0.2%
    2. B0.3%
    3. C0.4%
    4. D0.5%

    Answer: (D) 0.5%

    Explanation

    Primary deficit = fiscal deficit - interest payments = 100 - 90 = 10; 10/2000 x 100 = 0.5%.

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99. Question 99

    What was the twin deficit as percentage of GDP?

    <p>Total receipts are Rs. 400 crore: revenue receipts Rs. 250 crore and capital receipts Rs. 150 crore. Revenue receipts include tax revenue Rs. 220 crore and non-tax revenue Rs. 30 crore. Capital receipts include borrowings and other liabilities Rs. 100 crore. Revenue expenditure is Rs. 300 crore, including interest payments Rs. 90 crore and grants for creation of capital assets Rs. 20 crore. Capital expenditure is Rs. 100 crore. GDP at current prices is Rs. 2000 crore. Current account deficit is Rs. 50 crore.</p>
    1. A2.5%
    2. B5.0%
    3. C7.5%
    4. D10.0%

    Answer: (C) 7.5%

    Explanation

    Twin deficit combines fiscal deficit and current account deficit: 100 + 50 = 150; 150/2000 x 100 = 7.5%.

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100. Question 100

     What was the effective revenue deficit as percentage of GDP?

     <p>Total receipts are Rs. 400 crore: revenue receipts Rs. 250 crore and capital receipts Rs. 150 crore. Revenue receipts include tax revenue Rs. 220 crore and non-tax revenue Rs. 30 crore. Capital receipts include borrowings and other liabilities Rs. 100 crore. Revenue expenditure is Rs. 300 crore, including interest payments Rs. 90 crore and grants for creation of capital assets Rs. 20 crore. Capital expenditure is Rs. 100 crore. GDP at current prices is Rs. 2000 crore. Current account deficit is Rs. 50 crore.</p>
     1. A0.5%
     2. B1.0%
     3. C1.5%
     4. D2.0%

     Answer: (C) 1.5%

     Explanation

     Effective revenue deficit = revenue deficit - grants for capital assets = 50 - 20 = 30; 30/2000 x 100 = 1.5%.

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