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30. Core inflation is a measure of 35. A Kisan Credit Card (KCC) Scheme inflation was introduced in the year (A) that is based only on food and (A) 2001 (B) 2005 energy prices (C) 1998 (D) 1999 (B) that includes items that face volatile price movements. notably food and energy 36. Increase in agricultural production (C) that excludes items that face and productivity is a pre-condition volatile price movements. (A) to raise the share of agriculture notably food and energy in GDP (D) None of the above (B) to ensure national food security 31. First Green Revolution was primarily concerned with the (C) to provide livelihood and production and productivity of nutritional security (A) Pulses (D) All of the above (B) Oilseeds (C) Wheat 37. Select the year in which the gross (D) Fruits & vegetables fiscal deficit, revenue deficit and 32. During the period from 2004-05 to primary deficit of the Central 2010-11. agricultural sector GDP Government as percent of GDP were witnessed a higher growth rate the highest ? than the overall GDP (A) 2008-09 (B) 2006-07 (B) witnessed a lower growth rate (C) 2007-08 (D) 2005-06 than the overall GDP (C) witnessed a stagnant growth 38. Which item is likely to be the most rate as compared to the overall growth rate significant item of expenditure of the (D) witnessed a similar growth rate Central Government during as that of the overall GDP. 2011-12 ? (A) Subsidies 33. The main objectives of food (B) Defence management are C) Interest (A) Procurement of food grains (D) Share of States in Central taxes from farmers at remunerative prices (B) Distribution of food grains to 39. Items of social sector expenditure of consumers at affordable prices. the State Governments include (C) Maintenance of food buffers I. Education and sports for food security and price II. Energy and transport stability III. (D) All of the above Medical and public health IV. Water supply and sanitation 34. Which one of the following States Find correct answer from given contributed maximum the codes : production of pulses in the year Codes : 2009-10 ? (A) I. II and III are correct. (A) Uttar Pradesh (B) Madhya Pradesh B) I, III and IV are correct. C) Rajasthan (C) II, III and IV are correct. (D) Punjab (D) I and III are correct.23. Which one of the following States 27. Arrange the following Committees had the highest number of branches in chronological order from the of Regional Rural Branches (RRBs) given codes in 2010 ? I. Khusro Committee (A) Bihar II. Dantwala Committee (B) Haryana III. Narasimham Committee (C) Madhya Pradesh IV. Kelkar Committee (D) Punjab Codes : (A) I. II, III, IV 24. Growth of Indian agriculture has (B) II. IV, I, III (C) II. I. IV, III been slowed down since the (D) II, III, I, IV adoption of new economic policy due to 28. Assertion (A) : The working of 1. low increase in crop yield Regional Rural Banks (RRBs) 2. low or no public investment revealed that they eroded their 3. stagnant green revolution capital base. technology Reason (R) : Many RRBs are non- 4. low retail market prices of viable and having high agricultural produce operating costs. Answer this question by selecting Of the above two statements, give the correct combination of codes the correct answer from the given given below : codes : Codes : Codes : (A) 1. 2, 3. 4 (A) Both (A) and (R) are correct (B) 2.3 and (R) is the correct (C) 1. 2, 3 explanation of (A). (D) 1. 4 (B) Both (A) and (R) are correct, but (R) is not the correct 25. According to the monetarists, money explanation of (A). supply constitutes (C) (A) is true, but (R) is false. (A) Currency + demand deposits (D) (A) is false, but (R) is true. (B) Currency + demand deposits + time deposits 29. Which of the following institutions (C) Currency + demand deposits + are regulated by the RBI as All India time deposits + equity shares Financial Institution ? (D) Currency + all kinds of bank 1. Export Import Bank of India 11. deposits + deposits with other National Housing Bank III State Bank of India institutions + borrowing IV. Small Industries Development 26. Which of the following is not a Bank of India Select the correct answer from the specialized sub market of the money given code : market ? Codes : (A) Collateral loan market (A) I. II and IV (B) Discount market (B) II, III, IV (C) Bond market (C) I & II (D) Acceptance market III & IV14. Which of the following is not a feature 17. Since March 2010, how many times of the A.W. Phillip's inflation- the Reserve Bank of India has unemployment trade-off relation ? increased the repo rate ? (A) A non-linear inverse (A) Eleven times relationship between (B) Thirteen times unemployment rate and the C) Ten times rate of exchange in wage rate. (D) Twelve times (B) There is a loop in the anti- clockwise around the Phillip's 18. Which of the following Committees curve. has been set up in India for (C) The wage-inflation identification of BPL families in unemployment relationship is urban areas ? predictable. (A) Tendulkar Committee (D) Philip's curve shifts when (B) Saxena Committee expected rate of inflation shifts (C) Lakdawala Committee (D) Hashim Committee 15. Suppose there is full employment and vertical aggregate supply 19. A major financial inclusion initiative schedule, An increase in the nominal named 'Swabhiman' was formally money supply launched on (A) reduces the rate of interest and (A) February 2010 changes the composition of (B) February 201 1 output (C) February 2009 (B) causes a proportional increase (D) February 2008 in real output (C) has no effect on the real money 20. Which of the Five Year Plans has supply or the composition of laid emphasis on 'faster. sustainable output and inclusive growth' ? (D) causes the real money supply (A) Eleventh Five Year Plan to increase, which changes (B) Twelfth Five Year Plan composition of output (C) Tenth Five Year Plan Ninth Five Year Plan 16. In the context of the Mundell- Fleming model of open economy. 21. Under the revised Index of Industrial consider the following variables that Production (IIP) series, with 2004-05 shift the IS function. as the base, the total number of items covered has increased from 538 to a rise in the exchange rate (A) 682 662 an increase in foreign income (C) 652 642 3. a cut in taxes 4. a fall in exchange rate 22. Which one of the following States Which of the following had the highest per capita income in combinations of these factors shift 2009-10 ? the IS function upwards towards the (A) Punjab right ? (B) Haryana (A) 1. 2. 4 (B) 2. 3. 4 C) Madhya Pradesh (C) 1. 2. 3 (D) 3. 4. 1 (D) Delhi9. Which of the following statements 11. When current income includes does not hold true in case of the negative transitory component, Keynesian Economics ? relating consumption with current income will produce (A) Velocity of money is an unstable function of its (A) an average propensity to consume that is lower than the determinants. long run average propensity to consume. (B) Labour is subject to money B) illusion. an average propensity to consume that is higher than the (C) Aggregate supply function average long run propensity to tends to become flat at levels consume. of output well below full (C) an average propensity to consume that equals the long employment and to become average propensity to steeper as full capacity is consume. reached. (D) None of the above (D) Aggregate supply schedule is vertical, and output and 12. Liquidity trap is a situation when employment are completely (A) all potential investors expect supply determined. the rate of interest to rise in future (B) all potential investors expect the rate of interest to fall in 10. Tobin's q-theory of investment future indicates that firms add to their stock (C) natural rate of interest is above of capital when the critical rate of interest (A) the replacement value of their (D) demand for money for real assets exceeds the market speculative purpose is interest- inelastic value of their financial assets. (B) the market value of their 13. In Harrod's model of economic financial assets exceeds the growth, if warranted rate is below replacement value of their real the natural rate of growth then it is assets. possible to maintain steady state growth at the warranted rate with (C) the market value of their real A) continually increasing assets exceeds the book value unemployment of their financial assets. B) constant rate of unemployment (D) the market value of their C) continually decreasing financial assets exceeds the unemployment book value of their real assets. (D) None of the above5. Match the items in List - I with 7. Assertion (A) : Non-collusive items in List - II : model of Chamberlin asserts List - I List - II that a stable equilibrium can be reached if each firm charges I. Cardinal Utility 1. Hicks Monopoly price and equally Theory of shares the market demand for Demand their products. II. Revealed 2. A. Marshall Reason (R) : Reasoning is that the Preference firms recognize mutual Theory of interdependence in terms of Demand action and reaction with regard III. Indifference 3. Neuman & to price decision with the Preference Morgenstern objective of profit Theory of maximization which will be Demand realized if prices are IV. Utility Index 4. Samuelson determined at a level which under equals marginal cost. uncertainty Codes : Select the correct answer from the (A) Both (A) & (R) are correct and following codes : (R) is the correct explanation Codes : of (A). II III IV (B) (A) is correct, but (R) is not (A) 2 correct. (B) 4 (C) 2 4 (C) Both (A) & (R) are correct but (D) 4 (R) is the correct explanation of (A). 6. Arrange the proponents of the (D) (R) is correct, but (A) is marginal productivity theory of incorrect. factor reward in chronological order : 8. The revealed preference approach to 1. J.B. Clark the derivation of indifference curve 2. Marshall 3. Walras (A) Assumes stability over time of 4. Jevons an observed person's tastes. Select the correct code for correct (B) Assumes that all people have answer : identical tastes. Codes : C) Relies on repeated (A) 1. 4, 2, 3 observations of the market (B) 4.3, 1. 2 behaviour of a single person. (C) 1. 3. 4. 2 (D) Is correctly described by both (D) 2. 1, 4. 3 (A) and (C).1. A solution of Walrasian general 3. The producer will substitute capital equilibrium will exist if and only if. for labour till he reaches that point of isoquant at which. (A) Condition of fixed point (A) The price of the good he theorem is satisfied. produces equals wage rate, (B) Pareto's condition of (B) Marginal rate of technical substitution equals interest optimality is satisfied. rate. (C) Hick's stability conditions are (C) Marginal rate of technical satisfied. substitution equals marginal revenue. (D) The condition of Pareto's law (D) Marginal rate of technical of income distribution is substitution equals the ratio of satisfied. marginal productivity of labour and capital. 1. Match the items from the List - I 2. Select the correct statement of with items in List - II : Adding up Theorem, List - 1 List - II (A) If income generated by the I. Sales maximization 1. Morris as the objective of given output produced during the firm the given period is distributed II. Growth 2. Baumol according to average maximization as objective of the productivity of all factors, total firm income will be exhausted. III, Managerial Utility 3. Williamson (B) Total income derived from the Function Maximi- zation as objective output will be exhausted if all of the firm factors are paid according to IV. Sales, profit & 4. Kaldor their marginal productivity. growth maximization as (C) Total income derived from the objective of the output will be exhausted if all firm factors are paid at the same Select the correct answer from the following codes : rate. Codes : (D) Total income will be exhausted III IV if all factor rewards are (A) 1 3 None proportional to commodity (B) 3 3 prices. (D) 4
