Who is regarded as Father of Modern Macro Economics?

(a)

Adam Smith

(b)

J M Keynes

(c)

Ragnar Frisch

(d)

Karl Marx

Assertion: Planning is an integral part of a Capitalist economy.
Reason: In socialist system, all decisions are undertaken by the central planning authority

(a)

Both (A) and (R) are true and (R) is the correct explanation of (A).

(b)

Both (A) and (R) are true, but (R) is not the correct explanation of (A)

(c)

(A) is true, but (R) is false

(d)

(A) is false, but (R) is true

Which of the following amount is available for households for their consumption?

(a)

Disposable Income

(b)

Personal Income

(c)

Percapita Income

(d)

None of above

Every able bodied person who is willing to work at the prevailing wage rate is employed called as ___________

(a)

Full employment

(b)

Under employment

(c)

Unemployment

(d)

Employment opportunity

The natural rate of unemployment equals the sum of those who are:

(a)

Frictionally and structurally unemployed

(b)

Frictionally and cyclically unemployed

(c)

Structurally and cyclically unemployed

(d)

Frictionally structurally and cyclically unemployed

According to Keynes, investment is a function of the MEC and _________

(a)

Demand

(b)

Supply

(c)

Income

(d)

Rate of interest

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. Y	1. C + IA + IP
II. (β)	2. ΔI / ΔC
III. K	3. 1/1 - MPC
IV. MPS	4. ΔS / ΔY

(a)

I	II	III	IV
3	2	1	4

(b)

I	II	III	IV
2	4	1	3

(c)

I	II	III	IV
2	4	1	3

(d)

I	II	III	IV
2	3	4	1

Scarcity induced inflation has happened in Venezula of the year ______.

(a)

2017

(b)

2018

(c)

2016

(d)

2008

Who will act as the banker to the Government of India?

(a)

SBI

(b)

NABARD

(c)

ICICI

(d)

RBI

A Debit cardis a card allowing the holder to transfer money ______ from their bank account when making a purchase.

(a)

automatically

(b)

electronically

(c)

technically

(d)

none of the above

Exchange rates are determined in

(a)

money market

(b)

foreign exchange market

(c)

stock market

(d)

capital market

The Heckscher-Ohlin model rules out the classical model’s basis for trade by assuming that________ is (are) identical between countries

(a)

factor endowments

(b)

factor intensities

(c)

technology

(d)

opportunity costs

ASEAN meetings are held once in every _______ years

(a)

2

(b)

3

(c)

4

(d)

5

The achievements of the fund can be summed up as ‘Fund is like an International Reserve Bank.’ Who said this

(a)

Haien

(b)

Firedman

(c)

Arrow

(d)

Lancaster

Fiscal federalism deals with ________.

(a)

The division of governmental functions

(b)

Financial relations among levels of government

(c)

Proper allocation of Resources

(d)

All of the above

The major contributor of Carbon monoxide is

(a)

Automobiles

(b)

Industrial process

(c)

Stationary fuel combustion

(d)

None of the above

A noisy party that keeps neighbors awake is an example of a

(a)

negative production externality

(b)

positive production externality

(c)

negative consumption externality

(d)

positive consumption externality

Sarvodaya Plan was advocated by__________

(a)

Mahatma Gandhi

(b)

J.P.Narayan

(c)

S.N Agarwal 

(d)

M.N. Roy

According to the supply side of the vicious circle theory of development, a country is poor because

(a)

technology levels do not allow for self-sufficiency.

(b)

it was previously too poor to save and invest.

(c)

underemployment is too widespread

(d)

resource allocation is poor.

Which is not a character of descriptive statistics?

(a)

It describes the population under study

(b)

It uses hypotheses, testing and predicting on the basis of the outcome

(c)

It presents the data in a meaningful way through charts, diagrams, graphs, other than describing in words

(d)

It gives the summary of data

Mention the any three Socialist Learning economies.

Define GDP in broad terms

Define average propensity to save (APS).

“Super Multiplier” – Define.

Define inflation.

What is credit creation?

Define Comparative Cost Advantage.

Why was the SDR created?

Define economic development

Define Correlation.

Outline major demerits of capitalism.

What are the difficulties in measuring National Income?

State Cambridge equations of value of money.

Compare the dissimilarities of Repo Rate and Reverse Repo Rate.

What are the Determinants of Exchange Rates?

Write a short note on TRIMs

State any three characteristics of taxation.

Explain the types of water pollution.

Elucidate major causes of vicious circle of poverty with diagram

State and explain the different kinds of Correlation

1. Discuss the features of Capitalist economy.

2. Discuss the Iimitations of National Income as an index of economic welfare.

1. Explain non-economic factors determining development?

2. Calculate the Karl Pearson Correlation Co-efficient for the following data

   Demand of Product X	23	27	28	29	30	31	33	35	36	39
   Sale of Product Y:	18	22	23	24	25	26	28	29	30	32

1. Explain the importance of sustainable development and its goals.

2. Describe different types of Planning.

1. State and explain instruments of fiscal policy.

2. Write a note on Indian Finance Commission.

1. Discuss the Modern Theory of International Trade.

2. What are the functions of the ASEAN?

1. Explain other types of inflation (on the basis of inducement).

2. Discuss Cheap and Dear Money policy.

1. Describe the types of unemployment

2. Illustrate the working of Multiplier.