Full download : http://alibabadownload.com/product/macroeconomics-australia-7th-edition-mctaggart-test-bank/ Macroeconomics Australia 7th Edition McTaggart Test Bank
in this presentation i have discussed about previous year Indian Engineering Services 2020 General studies exam paper 2020.
it contains 25 questions of Gs section.
Full download : http://alibabadownload.com/product/macroeconomics-australia-7th-edition-mctaggart-test-bank/ Macroeconomics Australia 7th Edition McTaggart Test Bank
in this presentation i have discussed about previous year Indian Engineering Services 2020 General studies exam paper 2020.
it contains 25 questions of Gs section.
POVERTY REDUCTION STRATEGY AS PER lATE SUKHMAOY CHAKARVORTY WAS TRICKLE DOWN THEORY ' . THEN IT CHANGED TO DIRECT ATTACK ON POVERTY BY 1980 WITH INTRODUCTION OF IRDP , 1974- 78 , THE TERM BASICS NEEDS WAS INTRODUCED FOR THE FIRST IME , THEN CAME 11TH AND 12 PLAN [UPA ] ATLEAST IN DOCUMENTS BASIC NEEDS , INCLUSIVE GROWTH ; BUT A RAGING DEBATE WHERE EMINENT ECONOMISTS LIKE PROF BHAGWATI AND PRF SEN ARGUE ON GUJARAT AND KERALA MODEL ; IS THE CURRENT STRATEGY REVERTING BACK TO GROWTH FIRST
MA ECO ENTRANCE MICRO EXTERNALITIES //DELHI SCHOOL OF ECONOMICS //JNU //ISI//...Naresh Sehdev
EFFICIENCY IS A NEO CLASSICAL CONCEPT MEANS MAXIMIZING CONSUMER AND PRODUCER SURPLUS .AS PER THE CONCEPT OF FIRST WELFARE THEOREM EVERY COMPETETIVE EQUILIBRIUJM IS PARETO EFFICIENT; BUT THIS CONDITION MAY NOT HOLD IN PRESNCE OF POSITIVE AND NEGATIVE EXTERNALITIES .THAT IS IN PRESENCE OF PRODUCTION AND CONSUMPTION EXTERNALI
TIES
UGC NET /JRF / SET ECONOMICS ANSWERS JUNE 2014 PAPER 3 DETAILED SOLUTIONS Q ...Naresh Sehdev
UGC ECONOMICS PAPER 3 REQUIRES LOT OF COMPREHENSIVE KNOWLEDGE . TO BE COMBINED AND CORRELATED . IT IS CONSTRAINED OPTIMIZATION . SOMETIMES BEST HAS TO BE CHOSEN . ECONOMETRICS , STATISTICS , MICROECONOMICS NEOCLASSICAL ,MACROECONOMICS ,, DEVELOPMENT THEORY , ECONOMIC THOUGHT , QUANTATIVE MATHS
Delhi School of Economics Entrance Exam (2012)CrackDSE
This is the entrance exam paper for the Delhi School of Economics for the year 2012. It contains both options A and B. Exam papers for other years are available as well here. Much more information on the DSE Entrance Exam and DSE Entrance preparation help available on www.crackdse.com
MA ECO ENTRANCE QUASI CONCAVE QUASI CONVEX AND QUASICONCAVENaresh Sehdev
THE TWO CONCEPTS FOR BASIS OF THE RESULTS O9F THE OPTIMIZATION PROBLEM
QUASICONCAVITY IS ESSENTIAL FOR THE INTERIOR OPTIMUM
THERE ARE DIFFERENTIABILITY RUES AND RULES BASED ON JENSENS INEQUALITYHE
MA ECO ENTRANCE MICRO GENERAL EQUILIBRIUM// SELHI SCHOOL OF ECONOMICS //ISI ...Naresh Sehdev
VARIOUS TYPE OF PREFRENCES YIELD DIFFERENT NATURE OF THE PARETO EFFICIENCY LOCUS
LOGRATHIMIC ;QUASI LINEAR ; NEUTER GOOD ETC
HERE THE EQUILIBRIUM BASKET QAND CHANGES IN DEMAND DEPEND ON SUBSTITUTION EFFECT ;ORDINAY INCOME EFFECT AS WELL AS ENDOWMENT INCOME EFFECT
Basic Concepts of Economics: Introduction to Economics , Basic Economic Problem, Circular Flow of
Economic Activity , Adam Smith and Invisible Hand. Nature of the firm - rationale, objective of maximizing
firm value as present value of all future profits, maximizing, satisficing, optimizing, principal agent problem,
Accounting Profit and Economic Profit , Role of profit in Market System
Demand Analysis and Forecasting: Determinants of Market Demand at Firm and Industry level –
Elasticity of Demand - Market Demand Equation – Use of Multiple Regression for estimating demand –
Case study on estimating industry demand (formulating equation and solving with the aid of software
expected)
Demand and Supply: Market Equilibrium – Pricing under perfect competition, monopolistic competition,
Case study on pricing under monopolistic competition , Oligopoly - product differentiation and price
discrimination; price- output decision in multi-plant and multi-product firms.
Cost Concepts: Cost Concept, Opportunity Cost, Marginal, Incremental and Sunk Costs, Cost Volume Profit
Analysis, Breakeven Point, Case Study on marginal costs. Risk Analysis and Decision Making: Concept of
risk, Expected value computation, Risk management through Insurance, diversification, Hedging, Decision
Tree Analysis, Case Study on Decision tree Technique.
Money and Capital Markets in India: Role and Functions of Money Markets, Composition of Money
Market, Money Market Instruments , Reserve Bank of India – Functions , Regulatory Role of RBI w.r.t.
Currency, Credit and Balance of Payment, Open Market Operations. Role and Functions of Capital Markets,
Composition of Capital market, Stock Exchanges in India, Role of SEBI, understanding of stock market
quotations in financial press expected.
Public Finance Infrastructure: Familiarity with important terms/agencies/approaches/practices related to
National Income (such as GDP, PPP, Growth Rate), Foreign Trade (such as GATT, WTO) Union budget
(such as Revenue Account, Capital Account, Revenue Deficit, Fiscal Deficit, Plan and Non-plan expenditure)
is expected. Understanding of Summarize
JNU MA Economics Entrance Test Paper (2013)CrackDSE
This is the entrance exam paper for JNU MA Economics Entrance Exam for the year 2013. Much more information on the JNU MA Economics Entrance Exam and JNU MA Economics Entrance preparation help available on http://crackdse.com
Hemant
Eco academy is managed by Harmeet singh (2013 batch) Delhi School of Economics alumni.
Tutors
Apart from the core team, ECO Academy also has a team of tutors, who are graduates from reputed Economics Institutes such as DSE, ISI and JNU.
Assignment Buddy
Apart from ECO Academy, Assignment Buddy is an online education product of Knowledge Spark Consultancy Pvt Ltd, which deals in providing assignment help in Economics, Statistics and Mathematics to students of various universities. As a start-up, Assignment Buddy has successfully done several research projects for student community and has tied-up with several Education Corporations nationally and internationally.
Sample Macro QuestionsMultiple Choice (Select the best option av.docxanhlodge
Sample Macro Questions
Multiple Choice (Select the best option available.)
1..
In the factor market, households
(a)
sell resources.
(b)
buy resources.
(c)
are neither buyers nor sellers of resources.
(d)
are both buyers and sellers of resources.
2.
GDP does not include
(a)
business investment.
(b)
overseas production of U.S. subsidiaries.
(c)
net exports.
(d)
consumption expenditures.
3.
Official unemployment rates may underestimate the true rate of unemployment because the
official rate
(a)
includes those workers who only work part time.
(b)
may include some individuals who are not actually in the labor force.
(c)
does not include individuals receiving any type of unemployment compensation.
(d)
fails to include discouraged workers.
4.
If the U.S. economy enters a recessionary phase, the
(a)
economy experiences full employment.
(b)
unemployment rate will increase.
(c)
entire population will be unemployed.
(d)
entire population will be partially unemployed.
5.
The circular flow diagram shows
(a)
goods, services, and money payments flowing in the same direction.
(b)
goods and money payments flowing in one direction and services flowing in the opposite direction.
(c)
goods and services flowing in one direction and money payments in the other direction.
(d)
goods flowing in one direction and services and money payments flowing in the other direction.
6.
GDP measures
(a)
the total value of labor used in the economy.
(b)
the total market value of final goods and services produced within a nation’s borders.
(c)
the total income received by residents of a nation.
(d)
the total worth of all goods consumed within the borders of a nation.
7.
A price index shows
(a)
the current cost of a basket of goods.
(b)
the relative price of necessities.
(c)
the price of goods in the future.
(d)
the cost of today’s goods expressed in terms of the cost of goods in a base year.
8. A public good is:
(a) a good or service for which it is relatively easy to exclude nonpaying customers from consumption.
(b) a good or service which is consumed by both the paying and nonpaying customers.
(c) any good or service which is produced by the government.
(d) a good or service which is consumed by private individuals and financed by private contributions.
9.
The sum of all planned expenditures for the entire economy at each possible price level is
(a)
aggregate supply.
(b)
effective demand.
(c)
aggregate demand.
(d)
actual expenditures by consumers.
10.
Suppose the total value of all assets in the United States is $10 trillion. In 2006, the total value of all final services produced in the United States was $100 billion, the total value of all final goods produced in the United States was $300 billion, and the total value of all final goods and services produced by American firms in other countries was $100 billion. In this situation, gross domestic product for 2006 was
(a)
$600 billion.
(b)
$500 billion.
(c)
$400 billion.
(d).
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 10.docxamrit47
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 101864 Par L par score
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 101864 Par L par
Name:___________________________________ Banner:__________________________________
1) Suppose you decide to attend summer school and that this is considered a rational choice. When making this
choice,
A) you have made a positive statement.
B) you have used the ceteris paribus assumption.
C) you must have considered the social interest.
D) you must ignore the problem of scarcity.
E) you considered the marginal cost and marginal benefit of your choice.
2) The expenditure approach to measuring GDP is done by using data on only
A) consumption expenditure and investment.
B) wages, rent, interest, and profit.
C) consumption expenditure, investment, government expenditure on goods and services, and net exports
of goods and services.
D) consumption expenditure.
E) consumption expenditure, investment, and government expenditures.
3) The largest expenditure category in the United States is
A) net exports of goods and services.
B) investment.
C) wages.
D) consumption expenditure.
E) government expenditure on goods and services.
4) Economic growth is a sustained expansion of production possibilities, as measured by the increase in
________ over time.
A) population
B) the price level
C) inflation
D) employment
E) real GDP
5) The "value of money"
A) is the quantity of goods and services that a unit of money can buy.
B) increases during inflationary periods.
C) is directly related to the price level.
D) increases during economic expansions.
E) is determined by Fed regulations.
6) If the quantity of money supplied ________ the quantity demanded, in the long run the value of money
________.
A) exceeds; falls as people spend their surplus money
B) is less than; does not change unless the Fed increases the money supply
C) equals; equals zero
D) is less than; falls as people spend their surplus money
E) exceeds; rises as people buy bonds
7) Inflation is a tax because as the government ________ the quantity of money, the price level ________, and
the purchasing power of households' money ________.
A) decreases; rises; decreases
B) decreases; falls; decreases
C) increases; rises; decreases
D) does not change; rises; increases
E) increases; rises; increases
Figure 3-1
8) Refer to Figure 3-1. If the product represented is an inferior good, an increase in income would be
represented by a movement from
A) B to A. B) A to B. C) D2 to D1. D) D1 to D2.
9) Refer to Figure 3-1. A decrease in the price of the product would be represented by a movement from
A) D2 to D1. B) B to A. C) A to B. D) D1 to D2.
10) Suppose that when the price of raspberries increases, Lonnie increases his ...
POVERTY REDUCTION STRATEGY AS PER lATE SUKHMAOY CHAKARVORTY WAS TRICKLE DOWN THEORY ' . THEN IT CHANGED TO DIRECT ATTACK ON POVERTY BY 1980 WITH INTRODUCTION OF IRDP , 1974- 78 , THE TERM BASICS NEEDS WAS INTRODUCED FOR THE FIRST IME , THEN CAME 11TH AND 12 PLAN [UPA ] ATLEAST IN DOCUMENTS BASIC NEEDS , INCLUSIVE GROWTH ; BUT A RAGING DEBATE WHERE EMINENT ECONOMISTS LIKE PROF BHAGWATI AND PRF SEN ARGUE ON GUJARAT AND KERALA MODEL ; IS THE CURRENT STRATEGY REVERTING BACK TO GROWTH FIRST
MA ECO ENTRANCE MICRO EXTERNALITIES //DELHI SCHOOL OF ECONOMICS //JNU //ISI//...Naresh Sehdev
EFFICIENCY IS A NEO CLASSICAL CONCEPT MEANS MAXIMIZING CONSUMER AND PRODUCER SURPLUS .AS PER THE CONCEPT OF FIRST WELFARE THEOREM EVERY COMPETETIVE EQUILIBRIUJM IS PARETO EFFICIENT; BUT THIS CONDITION MAY NOT HOLD IN PRESNCE OF POSITIVE AND NEGATIVE EXTERNALITIES .THAT IS IN PRESENCE OF PRODUCTION AND CONSUMPTION EXTERNALI
TIES
UGC NET /JRF / SET ECONOMICS ANSWERS JUNE 2014 PAPER 3 DETAILED SOLUTIONS Q ...Naresh Sehdev
UGC ECONOMICS PAPER 3 REQUIRES LOT OF COMPREHENSIVE KNOWLEDGE . TO BE COMBINED AND CORRELATED . IT IS CONSTRAINED OPTIMIZATION . SOMETIMES BEST HAS TO BE CHOSEN . ECONOMETRICS , STATISTICS , MICROECONOMICS NEOCLASSICAL ,MACROECONOMICS ,, DEVELOPMENT THEORY , ECONOMIC THOUGHT , QUANTATIVE MATHS
Delhi School of Economics Entrance Exam (2012)CrackDSE
This is the entrance exam paper for the Delhi School of Economics for the year 2012. It contains both options A and B. Exam papers for other years are available as well here. Much more information on the DSE Entrance Exam and DSE Entrance preparation help available on www.crackdse.com
MA ECO ENTRANCE QUASI CONCAVE QUASI CONVEX AND QUASICONCAVENaresh Sehdev
THE TWO CONCEPTS FOR BASIS OF THE RESULTS O9F THE OPTIMIZATION PROBLEM
QUASICONCAVITY IS ESSENTIAL FOR THE INTERIOR OPTIMUM
THERE ARE DIFFERENTIABILITY RUES AND RULES BASED ON JENSENS INEQUALITYHE
MA ECO ENTRANCE MICRO GENERAL EQUILIBRIUM// SELHI SCHOOL OF ECONOMICS //ISI ...Naresh Sehdev
VARIOUS TYPE OF PREFRENCES YIELD DIFFERENT NATURE OF THE PARETO EFFICIENCY LOCUS
LOGRATHIMIC ;QUASI LINEAR ; NEUTER GOOD ETC
HERE THE EQUILIBRIUM BASKET QAND CHANGES IN DEMAND DEPEND ON SUBSTITUTION EFFECT ;ORDINAY INCOME EFFECT AS WELL AS ENDOWMENT INCOME EFFECT
Basic Concepts of Economics: Introduction to Economics , Basic Economic Problem, Circular Flow of
Economic Activity , Adam Smith and Invisible Hand. Nature of the firm - rationale, objective of maximizing
firm value as present value of all future profits, maximizing, satisficing, optimizing, principal agent problem,
Accounting Profit and Economic Profit , Role of profit in Market System
Demand Analysis and Forecasting: Determinants of Market Demand at Firm and Industry level –
Elasticity of Demand - Market Demand Equation – Use of Multiple Regression for estimating demand –
Case study on estimating industry demand (formulating equation and solving with the aid of software
expected)
Demand and Supply: Market Equilibrium – Pricing under perfect competition, monopolistic competition,
Case study on pricing under monopolistic competition , Oligopoly - product differentiation and price
discrimination; price- output decision in multi-plant and multi-product firms.
Cost Concepts: Cost Concept, Opportunity Cost, Marginal, Incremental and Sunk Costs, Cost Volume Profit
Analysis, Breakeven Point, Case Study on marginal costs. Risk Analysis and Decision Making: Concept of
risk, Expected value computation, Risk management through Insurance, diversification, Hedging, Decision
Tree Analysis, Case Study on Decision tree Technique.
Money and Capital Markets in India: Role and Functions of Money Markets, Composition of Money
Market, Money Market Instruments , Reserve Bank of India – Functions , Regulatory Role of RBI w.r.t.
Currency, Credit and Balance of Payment, Open Market Operations. Role and Functions of Capital Markets,
Composition of Capital market, Stock Exchanges in India, Role of SEBI, understanding of stock market
quotations in financial press expected.
Public Finance Infrastructure: Familiarity with important terms/agencies/approaches/practices related to
National Income (such as GDP, PPP, Growth Rate), Foreign Trade (such as GATT, WTO) Union budget
(such as Revenue Account, Capital Account, Revenue Deficit, Fiscal Deficit, Plan and Non-plan expenditure)
is expected. Understanding of Summarize
JNU MA Economics Entrance Test Paper (2013)CrackDSE
This is the entrance exam paper for JNU MA Economics Entrance Exam for the year 2013. Much more information on the JNU MA Economics Entrance Exam and JNU MA Economics Entrance preparation help available on http://crackdse.com
Hemant
Eco academy is managed by Harmeet singh (2013 batch) Delhi School of Economics alumni.
Tutors
Apart from the core team, ECO Academy also has a team of tutors, who are graduates from reputed Economics Institutes such as DSE, ISI and JNU.
Assignment Buddy
Apart from ECO Academy, Assignment Buddy is an online education product of Knowledge Spark Consultancy Pvt Ltd, which deals in providing assignment help in Economics, Statistics and Mathematics to students of various universities. As a start-up, Assignment Buddy has successfully done several research projects for student community and has tied-up with several Education Corporations nationally and internationally.
Sample Macro QuestionsMultiple Choice (Select the best option av.docxanhlodge
Sample Macro Questions
Multiple Choice (Select the best option available.)
1..
In the factor market, households
(a)
sell resources.
(b)
buy resources.
(c)
are neither buyers nor sellers of resources.
(d)
are both buyers and sellers of resources.
2.
GDP does not include
(a)
business investment.
(b)
overseas production of U.S. subsidiaries.
(c)
net exports.
(d)
consumption expenditures.
3.
Official unemployment rates may underestimate the true rate of unemployment because the
official rate
(a)
includes those workers who only work part time.
(b)
may include some individuals who are not actually in the labor force.
(c)
does not include individuals receiving any type of unemployment compensation.
(d)
fails to include discouraged workers.
4.
If the U.S. economy enters a recessionary phase, the
(a)
economy experiences full employment.
(b)
unemployment rate will increase.
(c)
entire population will be unemployed.
(d)
entire population will be partially unemployed.
5.
The circular flow diagram shows
(a)
goods, services, and money payments flowing in the same direction.
(b)
goods and money payments flowing in one direction and services flowing in the opposite direction.
(c)
goods and services flowing in one direction and money payments in the other direction.
(d)
goods flowing in one direction and services and money payments flowing in the other direction.
6.
GDP measures
(a)
the total value of labor used in the economy.
(b)
the total market value of final goods and services produced within a nation’s borders.
(c)
the total income received by residents of a nation.
(d)
the total worth of all goods consumed within the borders of a nation.
7.
A price index shows
(a)
the current cost of a basket of goods.
(b)
the relative price of necessities.
(c)
the price of goods in the future.
(d)
the cost of today’s goods expressed in terms of the cost of goods in a base year.
8. A public good is:
(a) a good or service for which it is relatively easy to exclude nonpaying customers from consumption.
(b) a good or service which is consumed by both the paying and nonpaying customers.
(c) any good or service which is produced by the government.
(d) a good or service which is consumed by private individuals and financed by private contributions.
9.
The sum of all planned expenditures for the entire economy at each possible price level is
(a)
aggregate supply.
(b)
effective demand.
(c)
aggregate demand.
(d)
actual expenditures by consumers.
10.
Suppose the total value of all assets in the United States is $10 trillion. In 2006, the total value of all final services produced in the United States was $100 billion, the total value of all final goods produced in the United States was $300 billion, and the total value of all final goods and services produced by American firms in other countries was $100 billion. In this situation, gross domestic product for 2006 was
(a)
$600 billion.
(b)
$500 billion.
(c)
$400 billion.
(d).
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 10.docxamrit47
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 101864 Par L par score
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 101864 Par L par
Name:___________________________________ Banner:__________________________________
1) Suppose you decide to attend summer school and that this is considered a rational choice. When making this
choice,
A) you have made a positive statement.
B) you have used the ceteris paribus assumption.
C) you must have considered the social interest.
D) you must ignore the problem of scarcity.
E) you considered the marginal cost and marginal benefit of your choice.
2) The expenditure approach to measuring GDP is done by using data on only
A) consumption expenditure and investment.
B) wages, rent, interest, and profit.
C) consumption expenditure, investment, government expenditure on goods and services, and net exports
of goods and services.
D) consumption expenditure.
E) consumption expenditure, investment, and government expenditures.
3) The largest expenditure category in the United States is
A) net exports of goods and services.
B) investment.
C) wages.
D) consumption expenditure.
E) government expenditure on goods and services.
4) Economic growth is a sustained expansion of production possibilities, as measured by the increase in
________ over time.
A) population
B) the price level
C) inflation
D) employment
E) real GDP
5) The "value of money"
A) is the quantity of goods and services that a unit of money can buy.
B) increases during inflationary periods.
C) is directly related to the price level.
D) increases during economic expansions.
E) is determined by Fed regulations.
6) If the quantity of money supplied ________ the quantity demanded, in the long run the value of money
________.
A) exceeds; falls as people spend their surplus money
B) is less than; does not change unless the Fed increases the money supply
C) equals; equals zero
D) is less than; falls as people spend their surplus money
E) exceeds; rises as people buy bonds
7) Inflation is a tax because as the government ________ the quantity of money, the price level ________, and
the purchasing power of households' money ________.
A) decreases; rises; decreases
B) decreases; falls; decreases
C) increases; rises; decreases
D) does not change; rises; increases
E) increases; rises; increases
Figure 3-1
8) Refer to Figure 3-1. If the product represented is an inferior good, an increase in income would be
represented by a movement from
A) B to A. B) A to B. C) D2 to D1. D) D1 to D2.
9) Refer to Figure 3-1. A decrease in the price of the product would be represented by a movement from
A) D2 to D1. B) B to A. C) A to B. D) D1 to D2.
10) Suppose that when the price of raspberries increases, Lonnie increases his ...
1.The aggregate supply curve relating the price level to real GDP.docxherminaprocter
1.
The aggregate supply curve relating the price level to real GDP has three distinguishing segments. Which one of the following indicates the segments?
A) The horizontal segment reflects the increasing pressure on the price level as firms bid for resources. The upward-sloping segment reflects the availability of unused resources. The vertical segment reflects the full employment of all resources.
B) The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects the full employment of all resources. The vertical segment reflects the increasing pressure on the price level as firms bid for resources.
C) The horizontal segment reflects the full employment of all resources. The upward-sloping segment reflects the increasing pressure on the price level as firms bid for resources. The vertical segment reflects the availability of unused resources.
D) The horizontal segment reflects the availability of unused resources. The downward-sloping segment reflects decreasing pressure on the price level as firms bid for resources. The vertical segment reflects the full employment of all resources.
E) The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects increasing pressure on the price level as firms bid for resources. The vertical segment reflects the full employment of all resources.
2.
Fiscal policy is government action to influence aggregate demand and in turn to influence the level of real GDP and the price level, through:
A) expanding and contracting the money supply.
B) regulation of net exports.
C) changes in government spending and/or tax revenues.
D) encouraging businesses to invest.
3.
"It would be an undue hardship to require people whose income is below $15,000 per year to pay income taxes." This statement reflects which of the following principles for a tax?
A) Benefits-received.
B) Inexpensive-to-collect.
C) Ability-to-pay.
D) Fairness of contribution.
4.
Exhibit 14-6 Aggregate supply curve
nar004-1.jpg
In Exhibit 14-6, the aggregate supply curve becomes vertical at GDP = $1,200 because:
A) there are no more workers available at any wage rate to increase real GDP.
B) the price level remains constant.
C) the only workers available would demand higher wage rates.
D) the economy is experiencing low employment and low production.
E) the Treasury is no longer allowed to explain away the deficit with creative accounting
5.
Exhibit 14-8 Aggregate demand and supply
nar005-1.jpg
In Exhibit 14-8, if aggregate demand shifts from AD3 to AD4, real GDP will:
A) rise from $7.0 to $8.0, and the price level will rise from 120 to 140.
B) rise from $7.0 to $8.0, and the price level will rise from 120 to 170.
C) rise from $7.0 to $8.0, and the price level will rise from 100 to 140.
D) not change, and the price level will rise from 120 to 140.
E) rise from $4.0 to $8.0, and the price level will rise from 120 to 140.
6.
The m.
ECON 1102, Test 2 (060216) 1
ECON 1102, Section 711, SS1 2016
Do any 40 of the 50 questions: two and one-half points each
Answer questions 1 through 4 based on the graph below.
1. The initial demand curve is D1. There are no rent ceilings or floors. The initial equilibrium monthly rent is
_____. (Put your answer on the answer sheet)
2. The demand curve shifts leftward from D1 to D0 so that D0 is the relevant demand curve. There are no
rent controls. In the short run, the decrease in demand results in
A) lower rents and a decrease in the equilibrium quantity.
B) higher rents and a decrease in the equilibrium quantity.
C) lower rents and an increase in the equilibrium quantity.
D) higher rents and an increase in the equilibrium quantity.
3. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $300 per month. In the short run there will be
A) a shortage and a decrease in search costs. B) a shortage and an increase in search costs.
C) a surplus and an increase in search costs. D) a surplus and a decrease in search costs.
4. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $500 per month. In the short run there will be
A) a surplus of apartments. B) a shortage of 200,000 apartments.
C) a shortage of 300,000 apartments. D) neither a shortage nor a surplus of apartments.
5 A price floor
A) always results in a surplus.
B) always results in a shortage.
C) results in a surplus if the floor price is greater than the equilibrium price.
D) results in a shortage if the floor price is greater than the equilibrium price.
ECON 1102, Test 2 (060216) 2
Answer questions 6 through 8 based on the table below.
Wage rate (dollars
per hour)
Labor supplied
(millions of workers)
Labor demanded
(millions of workers)
12 9 3
11 8 4
10 7 5
9 6 6
8 5 7
6. What is the equilibrium wage rate in an unregulated market? ____ (Put your answer on the answer sheet)
7. If the minimum wage is set at $12 per hour, the number of unemployed workers will be ____
8. If the market is in equilibrium today, and tomorrow a minimum wage is set at $11 per hour, the number of workers
who will lose their jobs is _____
9. In general, how a sales tax is divided between buyers and sellers is determined by
A) the elasticities of supply and demand. C) who the law says must pay the tax.
B) the government’s choice of whom to tax. D) the revenue needs of government.
10. A tariff
A) is a tax imposed on imported goods.
B) is a tax imposed on exported goods.
C) encourages worldwide specialization according to the principle of comparative advantage.
D) has no effect on prices paid by domestic consumers even though it increases the revenue collected by
domestic producers.
11. ...
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1. (Points 5) The GDP is the value of all final goods and.docxdorishigh
1.
(Points: 5)
The GDP is the value of all final goods and services produced
a. within the nations boundaries.
b. by domestically owned companies.
c. by citizens of the country.
d. by domestically controlled companies.
Save Answer
2.
(Points: 5)
If our population doubles, our GDP quadruples, and our GDP deflator doubles, our per capita real GDP will
a. quadruple.
b. double.
c. stay exactly the same.
d. decline by 25 percent.
e. decline by 50 percent.
Save Answer
3.
(Points: 5)
For purposes of calculating GDP using the expenditure approach, which of the following payments is NOT included in the government spending component?
a. Social Security pensions
b. The wages paid by a local government to its road crew
c. The wages paid by a state government to the workers in its welfare department
d. The federal government's purchase of a submarine from a shipbuilder
e. None of the choices are correct
Save Answer
4.
(Points: 5)
Which of the following is an intermediate product?
a. A road
b. Steel
c. Bread
d. A TV set
e. An automobile
Save Answer
5.
(Points: 5)
National income is the sum of all of the following except
a. wages.
b. savings.
c. interest.
d. rent.
e. profits.
Save Answer
6.
(Points: 5)
Which of the following would increase GDP?
a. More imports
b. Additional leisure time
c. Government removing more litter from highway right of ways
d. People engaging in more "do-it-yourself" projects
Save Answer
7.
(Points: 5)
Which of the following would NOT be included in this year's GDP?
a. The purchase of 100 shares of Microsoft stock
b. The replacement of a muffler on a 1978 Chevy
c. The commission charged by a real estate agent
d. The services of a hair stylist
e. The tuition fee for a course in economics
Save Answer
8.
(Points: 5)
The largest item amount among those listed here is
a. national income.
b. net interest.
c. net domestic product.
d. corporate profits.
Save Answer
9.
(Points: 5)
If GDP increases faster than the GDP deflator,
a. real GDP will rise.
b. real GDP will fall.
c. real GDP will stay the same.
d. There is not enough information to determine what happens to real GDP.
Save Answer
10.
(Points: 5)
Which one of the following is taken into account by GDP?
a. Household production
b. Illegal production
c. Leisure time
d. Custom lawn care services
Save Answer
11.
(Points: 5)
The difference between GDP and NDP is
a. Who has control of the company.
b. Who receives the profit from the sale.
c. Where the money is spent.
d. Depreciation.
Save Answer
12.
(Points: 5)
In the equation C + I + G + Xn, the I is defined as
a. total new investments less a wear out allowance.
b. total investments in new plant and equipment, business inventory changes and new residential housing.
c. domestic consumer income.
d. total investments in new plant and equipment ...
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OPTIMIZATION AND USE OF HESSIAN MATRIX /THE SECOND ORDER AND FIRST ORDER CONDITIONS UNDER BIVARIATE THEIR APPLICATIONS IN MICROECONOMICS AND IN GENERAL
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maximum likelihood estimators are most efficient , they possess property of invariance ,they satisfy the property of sufficency ; and we have here the mle of normal and exdponential distributions
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Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
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The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
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Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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1. E. -3o
Entrance Examination, Febru wy 2014
M.A. @conomics)
Time: 2 Hours Max.Marks:100
1.
2.
3.
4.
5.
6.
IIALT TICKET NUMBER
TNSTBIJqTIONS
Read these instructions carefully before answering.
Enter your Hall Ticket Number on this page and also on the OMR answer sheet
Answers are to be marked on the OMR answer sheet following the instructions provided
thereupon.
Hand over the OMR answer sheet at the end of the oxamination to the Invigilator.
Use of non-programmable calculator is allowed.
The euestion
paper has two parts - PART-A and PART-B. There are 100 questions in this
paper: 25 questions in Part-A and 75 questions in Part-B. Marks obtained in Part-A will
detennine the merit rank in case of a tie in the total number of marks obtained
Each correct answer carries one mark.
There is negative marking, Each wrong answer carries -0.33 mark'
This question paper contains 19 pages excluding the cover page. In addition, two blank pages
(pages 20 and 2l) for rough work are provided at the end of the question paper marked
"ROUGH WORK'"
7.
8.
9.
2. Lso
M.A. Entrance Bxamination, February 2014
School of Economics
Max.Marks:100 Time:2 Hours
Part -A (Anslver all 25 Questions)
l, Block pricing by electricity companies is an example of
(A) First Degree Price Discrimination
(B) Second Degree Price Discrimination
(C) Third Degree Price Discrimination
(D) None of these
2. If the prices of both goods increase by the same percent, the budget line will
(A) Shift parallel to the right
(B) Shift parallel to the left
(C) Pivot about the x axis
(D) Pivot about the y axis
3. The cost of a factory with specialized equipment that is of no use in another industry, is
an example of
(A) Fixed Cost
(B) Variable Cost
(Cf ) Sunk Cost
(D) Opportunity Cost
4. In comparison to the quasi-competitive solution which of the following statement is true?
(A) Cournot Duopolists produce smaller total output for smaller profits at higher prices
(B) Cournclt Duopolists produce larger total output for smaller profits at higher prices
(C) Cournot Duopolists produce smaller total output for higherprofits at lower prices
(D) Coumot Duopolists produce smaller totai output for higher protits at higlrer prices
3. L -9o
5. If the prices of ice-cream and chocolate are Rs. 40 and Rs. 30 respectively, and the
marginal utility of chocolate is 150, what is the marginal utility of ice ueam assuming the
consumer is at equilibrium?
(A) nz.s
(B) 200
(c) 22s
(D) 12s
6. If all households in a nation receive the same income, the nation's Lorenz curve would:
(A) Be vertical
(B) Be horizontal
(C) Be a 450 line
(D) Be a 600 line
7 . For a natural monopoly, economies of scale
(A) Exist due to patent protection
(B) Cause legal barriers to entry
(C) Exist over in the long-run average cost curve over the entire range of output
(D) None of the above
8. What is the shape of the isoquants when inputs are perfect substitutes?
(A) L - Shaped
(B) U - Shaped
(C) Straight Lines
(D) Vertical Lines
9. Why do people over age 65 have difficulty buying medical insurance at almost any price?
(A) Asymmetric Information
(B) Symmetric Information
(C) Market Signaling
(D) Moral Hazard
10. Cigarette smoking is an example of
(A) Positive Production Externality
(B) Negative Production Externality
(C) Positive Consumption Externality
(D) Negative Consumption Extemality
4. L-7o
I l. The equation s/v in the Marxist Political-Economy is the same as:
(A) The Rate of Exploitation
(B) The Rate of Surplus
(C) Surplus Labour TimeA.,lecessary labour Time
(D) All the above
12. The transition from feudalisrn to capitalism is dated
between what period of time in History?
(A) Between gth and l3th century
(B) Between I 6th and I 9t: Century
(C) Between l4th and I 6th Century
(D) Between 9tr and l6th Century
13. The Organic composition of capital is given by :
(A) S/c+v
(B) Clv
(C) C/c+v
(D) C/s+v
14. According to Marx, between the l4th and the lTth Century what had been the
influence of the rules pertaining to the length of the working day in Europe?
(A) The length of the working day was increasing
(B) The length of the working day was decreasing
(C) T'he length of the working day was static
(S)'lhe length of the working day was indeterminate
15. The value of a commodity according to Marx is :
(A) Directly related to productivity
(B) Unrelated to productivity
(C) Indirectly related to productivity
(D) lnversely related to productivity
16. Raw material in the Marxist political Economy is characterized as :
(A) Variable Capital
(B) Non-Capital
(C) Constant Capital
(D) Marginal Capital
5. E- -3o
17. The capitalist form of circulation of commodities in the Marxian analysis is represented
by
'(A) c-M-C
(B) M-C-M
(c) M-c-M'
(D) C-M-C'
18. In the Marxist analysis of Surplus value, the surplus value which the working day of one
labourer supplies multiplied by the number of labourers employed gives:
(A) Mass of surplus
(B) Rate of surplus
(C) Extended Surplus
(D) Intensive Surplus
19. An increase in the price of a commodity when demand is inelastic causes the total
expenditures of consumers of the commodity to
(A) Increase
(B) Decrease
(C) Remain unchanged
(D) Any of the above
20. Slutsky keeps real income constant when the price of a commodity falls by
(A) Keeping the consumer on the same indifference curve
(B) pushing the consumer to a lower indifference curve
(C) Allowing the consumer to purchase the same basket of goods as before the price
change
(D) Allowing the consumer to purchase more of both commodities than before the price
changes.
21. Which of the following is not an assumption of the theory of revealed preference?
(A) A cardinal measure of utility
(B) Consistency
(C) Transitivity
(D) A consumer can be induced to purchase any basket of commodities if its price is
made suffi ciently attractive.
22. The cost that a firm incurs in purchasing or hiring any factor of production is referred to
AS
(A) Explicit cost
(B) Implicit cost
(C) Variable cost
(D) Fixcd cost
4
6. 'L-3o
23. When a=314 and p-l14 for the Cobb-Douglas production function, returns to scale are
(A) Constant
(B) Increasing
(C) Decreasing
(D) First increasing and then decreasing
24. The best or optirnum , level of output for a perfectly competitive firm is given by the
point where
- (A) MR equals AC
(B) MR equals MC
(C) MR exceeds MC by the greatest amount
(D) MR equals MC and MC is rising.
25. When tfie perfectly competitive firm and industry are both in long run equilibrium
(A) P:MR:SMC=LMC
(B) P:MR:SAC:LAC
(C) P:MR-lowest point on the LAC curve
(D) All of the above
7. L -?c)
Part -B (Answer all 75 Questions)
26. Find the price elasticity of demand for the curvilinear demand function of the form
Q=aP-b
(A) -b
(B) b
(c) I
(D) None of the above.
27 .lnflation measures change in
(A) Absolute prices
(B) Relative prices
(C) Both absolute and relative prices
(D) All of the above
28. Deflation is
(A) lncrease in general price level
(B) Inflation and economic stagnation occurs simultaneously
(C) Decrease in general price level
(D) Decrease in rate of inflation
29. Laspeyre's index is
(A) Base year price index
(B) Base weighted price index
(C) End year price index
(D) End year weighted Price index
30. Rate of unemployment is calculated as
(A) Percentage of number unemployed to total population
(B) Percentage of number unemployed to Labor Force
(C) Percentage of number unemployed to skilled population
(D) None of the Above
31. The name of Francois Quesnay is associated with
(A) Input-output rnethod
(B) General Equilibrium TheorY
(C) Marginal Cost TheorY
(D) Tableau Economique
8. L-%
32. Division of Labour in Adam Smith's analysis implies
(A) Research and Development
(B) Human Deveopment
(C) Specialisation
(D) Multi-taskingactivity
33. Which of the following names is associated with theory of Entrepreneurship
(A) Alfred Chandler
(B) Frank Knight
(C) Joseph Schumpeter
(D) Graham Pyatt
34. The economist who defined economics as a science studying human behavior as a
relation between 'ends and scarce means' was:
(A) Afred Marshall
(B) Lionel Robbins
(C) Samuelson
(D) Pigou
35. Twelfth Five Year Plan in India pertains to the period:
(A) 2012-2017
(B) 2012-2016
(c) 20t t-20 I 5
(D) 201 1 -2016
36. In conventional economic approach, the demand for labour is characterized as :
(A) Necessary Demand
(B) Inelastic Demand
(C) Upwardly Sloping Demand
(D) Derlved Demand
37. The method of estimation of national incorne adopted by the CSO in India is a
combination of :
(A) The product and income Methods;
(B) The product and expenditure Methods;
(C) The income and expenditure Methods;
(D) All of the above
9. L -9c)
3g. Contributions of six industrial sectors, viz., Agriculture, Forestry & logging, Fishing,
Mining & euanying, Manufacturing, and Construction to the National Income in India is
estimated through:
(A) Income method;
(B) Expenditure method
(C) Product method
(D) A combination of any two of the above methods
39. The concept that is used to represent the total income of own account workers as
well as the profit generated in unincorporated enterprises in the national income data
in India is:
(A) Informal income
(B) Marginal Income
(C) Unregistered Income
(D) Mixed Income
40. What were the methods used to assess economic activity prior to the development of
national income concept?
(A) Human Development lndices
(B) Crude Development Indices
(C) Indices of sectoral incomes & money supply.
(D) Indices of Economic Progress
41. The statement 'Census is carried out on all Self-employed, Family enterprises, Small and
tiny enterprises and Non-wag€, non-salaried services' for calculating national incomc
data is :
(A) True
(B) False
(C) True in more recent context
(D) Cannot say
42. Aspart of the estimations of savings data in India, the household savings are divided into
which of the following categories:
(A) Current and Future savings
(B) Precautionary and Speculative savings
(C) Financial and Physical savings
(D) Current and Capital savings
10. L -9o
43. Which of the following categories are part of the NAS classifisation of the organizational
patterns in India?
(A) Organised and Unorganised
(B) Formal and Informal
(C) Modern and Traditional
(D) Capitalist and Artisanal
44. Which of the following organizations supplies data on State Domestic Product in India?
(A) National Sample Survey Organisation (NSSO)
(B) Organisation for Federal Data (OFD)
(C) Reserve Bank of India (RBI)
(D) Indian Council for Applied Economic Research (ICAER)
45. If the rise in the implicit price deflator for the primary sector was higher than for the NDP
as a whole. while the rise in those of the secondary and tertiary sectors were lower, it can
be inferred that:
(A) The primary sector got a differential advantage over the other two sectors
(B) T'he other two sectors got a differential advantage over the primary sector
(C) It is inconsequential
(D) All the three sectors are mutually benefited
46. The Current weighted price index is otherwise also known as:
(A) Pasche's Index
(B) Fischer's Index
(C) Paasche's Index
(D) Lespeyre's Index
47. Compounded Annual Grorvth Rates (CAGR) is calculated on the basis of:
(A) (End value/Starting value) lA'rumberol'Years
(B) (End ValueiStarting value) l'0{umberof Years
- I
(c) (Starting value/End value)
lA"lumtrcrorYears
- I
(D) (Starting Value/End Value)
lNumberorYears
48. The Social Accounting Matrix analytically can be traced back to:
(A) Adam Smith's Division of Labour
(B) Francois Quesnay's the Tableau Economique.
(C) Ricardo's Rent Theory
(D) Marx's Social Division of Labour
11. L-9o
49.1n a Social Accounting Matrix every entry when read in rows context and columns
context respectivelY rePresents:
(A) Industry of origin and Industry of Destination
(B) Demand and SUPPIY
(C) Receipts and ExPenditure
(D) ConsumPtion and Production
50. In order to avoid economically meaningless results, the viability conditions developed by
which set of scholars must be satisfied by the Input-Output system.
(A) Hawkins - Simon
(B) H icks-Simon
(C) Hawkins-Smith
(D) Kaldor-Simon
5l . In the evaluation of the value of Capital Stock by the CSO in India, which of the
follorving category is not included
(A) Machinery
(B) Human Capital
(C) Construction
(D) Changes in Stocks
52. Supposing that the prevailing inflation is 20 percent per annum and private rate of interest
in nominul t.r*, is 30 percent per annum. 'itl.n private real rate of interest per annum is
approximately:
(A) 10.0 percent
(B) 8.3 percent
(C) 8.0 percent
(D) 6.67 percent
53. Let set S: { x lx is a letter in woTd "ARTHASHASTRA"}. What is the cardinality of
the power set of S?
(A) 32
(B) 40e6
(c) 12
(D) s
10
12. L-30
54. Let A be a square matrix of order n and let B_ k.A where k is a real number.
Considering that lXl denotes determinant of a square matrix X, which of the following is
true?
(A) lBl = lAl
(B) lBl
:klAl
(c) lBl
: k" lAl
(D) lBl
: ftin) lAl
55. Let,f(x) : ln (13x). Derivativ e of f(x) with respect to x is equal to:
(A) ln 13lx
(B) t3 lx
(C) I / l3x
(D) | lx
56. Consider system of equations: 4x + 3y :4 ; and 2x- y : 3. Then,
(A) x--l; y-0
(B) x: {ll2); y:2
(C) x:l; y-2
(D) x: (tl2); y - 4
57.LetX and Zbe random variables such that X = 5.2 *2A. Civen that mean of X is Fx:
80 and its standard deviation is ox : 55, then,
(A) Vz= 80 and 6z= 55
(B) Vz:2A and oz: ll
(C) Vz:80 and 67: ll
(D) Vz:20 and 6y:55
5g. Ler A and B be irrdependent events and let P(B) > P(B), where P(X) is probability that
event X occurs. Let p(AB) be probability ofjoint occurrence of events A and B. Then,
(A) P(B) - P(AB) Z P(B)
(B) P(AB) < P(B) s P(B)
(c) P(AB) > P(B) z P(B)
(D) P(AB) : P(B) + P(B)
59. The quadratic equation,2*t - 3.x * 4 : 0,
(A) has distinct real roots
(B) has distinct comPlex roots
(C) has identical real roots
(D) has identical comPlex roots
LL
13. L -3O
60.Ifoneweretodividethestandarddeviationofapopulationofthemeanofthesample
population and multiply this value by 100, one would have calculated the
(A) Population standard score.
(B) Populationvariance.
(C) Populationstandarddeviation'
(D) Population coefficient of Variation'
61. A bag contains 2 red, 3 green, and 2 blue balls' Two balls are drawn at random' What is
the probability that none ofthe balls drawn are blue?
(A) t0l2t
(B) 1tl2t
(c) 2t7
(D) 517
I deviation is 8' which percent
.62.Theaverage score for a Biology test is 77 and the standarc
best repre;n$ the probability that any one student scored between 6l and 93 on the test?
(A) 99.5o/o
(B) 95o/o
(c) 68Vo
(D) 34o/o
63. The simple probability ofan occurrence ofan event is called the
(A) BayesianProbabilitY.
(B) Joint ProbabilitY
(c) MarginalProbabilitY
(D) ConditionalProbabilitY
64, ln case of open end classes, an appropriate measure ofdispersion to be used is
(A) Range
(B) Quartile Deviation
(C) Absolute Deviation
(D) Standard Deviation
L2
14. L-30
65. The cumulative percentages of a frequency table have little or no meaning for
data.
(A) Nominal
(B) Ordinal
(C) Interval
(D) Ratio
66. Average wages of workers of a factory are Rs. 550.00 per month and the standard
deviation of wages is I10. The coefficient of variation is:
(A) C.V. = 30 per cent
(B) C.V. : 15 per cent
(C) C.V. : 500 per cent
(D) C.V. = 20 per cent
67. F,xponential Smoothing is
(A) A method to use number exponents to smooth the time series
(B) One of the forecasting methods
(C) A method of testing linearity
(D) None of the above
68. Consumer Price Index (CPI) falls in the category of
(A) A simple index
(B) An aggregate index
(C) An inflation index
(D) Both (B) and (c)
69. A pair of dice is thrown. Find the probability of obtaining a sum of 8 or getting an even
number on both the dice.
(A) 1t t36
(B) 10t36
(c) et36
(D) 8t36
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70. Which is not a central government tax
,(A) Corporation tax
(B) WEALTH TAX
(C) Agricultural income tax
(D) none
71. If the elasticity of supply is less than the elasticity of demand,the burden of tax will
fall on
(A) Entirely on the seller
(B) Entirely on the buYer
(C) Both on the seller and buYer
(D) NONE
72. Laffer curve shows the relationship between
(A) J'ax revenue and time
(B) TAX Rate and income
(C ) Tax revenue and tax rate
(D) NoNE
73. Which is not a characteristic of PUBLIC GOOD
(A) Non-exclusion
(B) NON-RIVAL
(C) Divisibility
(D) NONE
74. The basic difference betrveen a sales tax and a VAT
(A) INCIDENCE oftax
(B) METHOD Of collection
(C) Tax base
(D) NONE
75. Countries trade with each other because they are _-- and because of
-.(A) differento costs
(B) Similar, scale economies
(C) different, scale economies
(D) Similar, costs
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76. Given the following information":
Unit Labor Requirements
Cloth Wine
Flome l0 20
Foreign 60 30
(A) Neither country has a comparative advantage.
(B) Home has a comparative advantage in cloth.
(C) Foreign has a comparative advantage in cloth'
(D) Home has a comparative advantage in widgets.
77 . ln the 2-fact or, 2 good Heckscher-Ohlin model, the two countries differ in
(A) tastes.
(B) military capabilities.
(C) size.
(D) relative availabilities of factors of production.
78. Starting from an autarky (no-trade) situation with Heckscher-Ohlin model, if
Country H is relatively labor abundant, then once trade begins
(A) wages and rents should rise in H
(B) wages and rents should fall in H
(C) *ug.t should rise and rents should fall in H.
(D) wages should fall and rents should rise in H.
79.Terms of trade refers to
(A) what goods are importeD.
(B) what goods are exporteD.
(C) the volume of trade
(D) the prices at which trade occurs.
80. The most common form of price discrimination in international trade is
(A) non-tariff barriers.
(B) Voluntary Export Restraints.
(c) dumping
(D) preferential trade arrangements.
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81. The WTO was established by the
(A) Kennedy Round
(B) Tokyo Round
(C) Uruguay Round
(D) Dillon Round
of multilateral trade negotiations.
82. The infant industry argument was an important theoretical basis for
(A) Neo-colonialist theory of international exproitation.
(B) Import - substituting irrdustrialization.
(C) Historiography of the industrial revolution in Western Europe.
(D) East-Asianmiracle.
83. A country's current account
(A) balance equals the change in its net foreign wealth.
(B) balance equals the change in its foreign wealth.
(C) surplus equals the change in its foreign wealth.
(D) deficit equals the change in its foreign wealth.
84. For open economies,
85'
low many British pounds would it cost to buy a pair of American designer jeans costing
$45 if the exchange rate is r.50 dollars per British'pound?
(A)
(B)
(c)
(D)
(A) lo
(B) 20
(c) 30
(D) 35
S: I.
S: I +CA.
S:l-CA.
S>I+CA.
British pounds
British pounds
British pounds
British pounds
86. The J-curve illustrates which of the folrowing?
(A)
(B)
(c)
(D)
The effects of depreciation on the home country's economy
The immediate increase in the current account taused by a currency depreciation
rhe gradual adjustment of home prices to a currency depreciation
The short-term effects of depreciation on the current account
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87. The quantity theory of money implies that if the
level would
money stock were to double, the price
(A) fall by one half.
(B) rise, but only slightly.
(C) also double.
(D ) be unchanged
88. If the consumption function is given by C: 100 +.6(y-T) and planned investment is
I 50, government spending is 50, and T is 100, then equilibrium income is
(A ) 600
(B) 7 s0
(c)400
( D) 3s0
89' Compared to the closed economy Keynesian model, the open economy model in which
imports are a function of income has an investment multiplier that is
(A) smaller.
(B) larger.
(C ) equal.
(D) equal to I
90. Keynes believed that the instability in income was caused by variability in
(A) investment
(B) taxes.
(C) consumption and savings.
( D ) government spending.
9l . A rise in the money stock will
(A ) shift the LM schedule ro the right.
(B) shifr the LM schedule to the left.
(C) not have any effect on the LM schedule.
(D) shift the IS schedule downward and to the right
92. The rate of unemployment can be calculated by
(A) simply dividing all unemployed persons by all employed persons.
(B) subtracting those ernployed from the total labor force to find the number of
unemployed and express this number as a percent of the total labor force.
(C) subtract those unemployed from the total labor force and express this number as a
percent of the total labor force.
(D) dividing all unemployed by rhe population.
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93. Capital inflows in the balance of payments accounts include
(A) purchases of financial assets by domestic residents.
(B) direct investments in foreign countries.
(C) indirect investments in foreign countries.
(D) purchases of domestic government bonds by foreigners.*
94. A system of exchange rate determinati'on with no central bank intervention is a
(A) fixed exchange rate system.
(B) flexible exchange rate system.
(C) floating exchange rate system.
(D) either a flexible or a floating exchange rate system.
95.
-lhe
primarytool utilized bythe Reserve Bank of lndiatoday in conducting monetary policy
is
(A) the discount rate.
(B) reserve requirements.
(C) open market operations.
(D) selective credit controls.
96. Robert Solow is one of the developers of
(A) classical economics.
(B) the neoclassical gromh model.
(C) real business cycle theory.
(D) new classical economics.
97. The difference between the nominal interest rate and the real interest rate is
(A) Inflation
(B). taxes
(C). Seignorage
(D). Hyperinflation
98. The inflation caused by supply shocks is called
(A) Expected inflation
(B) Wage inflation
(C) demand pull inflation
(D) cost-push inflation
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99. Theories of money demand that emphasize the role of money as a medium of exchange are
called
(A) Transaction theories
(B) portfolio theories
(C) quantity theories
(D) q theories
100. M3 measure of money compiled by Reserve Bank of India includes
(A) Currency, demand deposits and Time deposits
(B) Currency and Demand deposits
(C) Demand deposits and Time deposits
(D) Currency, Demand deposits and Post office deposits
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