Questions:
66. Examples of economic integration 72. Assertion (A) : The 1. Free trade area endogeneous growth theory II. Customs union examines production function III. Common market that shows increasing returns. IV. Cartel Reason (R) : Because of (A) I and II are correct specialization and investment (B) II and III are correct in knowledge capital. (C) I, II and IV are correct (D) I, II and III are correct (A) (A) is true, but (R) is false. (B) (R) is true, but (A) is false. 67. Arrange the order of WTO (C) Both (A) and (R) are correct, ministerial but (R) is not the correct 1. Seattle II. Cancun explanation of (A). III. Singapore IV. Doha (D) Both (A) and (R) are correct (A) II, I, III, IV (B) III, II, I, IV 1 (R) is the correct (C) III, I, IV, II (D) II, III, I, IV explanation of (A). 68. Maximum rate of tariff India can levy on edible oil under WTO 73. The 'Golden Age' model was Agreement on Agriculture is developed by (A) 100% (B) 150% (A) Nicholas Kaldor (C) 200% (D) 300% (B) Joan Robinson 69. WTO Agreement on Agriculture (C) J.R. Hicks consists of (D) R.F. Harrod I. Domestic support II. Export subsidies 74. Terms of Trade of the developing III. Market access countries are unfavourable due to the IV. Input subsidies fact that whenever income in (A) I and IV are correct. developed countries increases the (B) II and IV are correct. demand for primary goods reduces ) 1, II and III are correct. because (D) 1, II and IV are correct. (A) Income elasticity of demand 70. In Harrod's growth model, neutral for primary goods is high. technical progress implies technical (B) Income elasticity of demand progress as for primary goods is low. (A) Capital augmenting (C) Income elasticity of demand is (B) Labour augmenting neutral towards primary goods. C) Both labour and capital (D) None of the above augmenting (D) Productivity increasing 75. T.W. Schultz has given the 71. Which are the two gaps affecting following ratios in relation to growth process of an economic education for economic growth : system in the two gap model of (A) Education capital and labour growth ? ratio (A) Saving gap and investment gap (B) Education labour ratio (B) Income gap and consumption (C) Education-income ratio gap (D) Education labour ratio, (C) Foreign exchange gap and education income ratio and domestic saving gap (D) Export gap and import gap education investment ratio56. Which of the following are 61. For the regression model conditions of consumer's Y =Bo+ B,X, + B,X, + ....+ PXx+e equilibrium in a two commodity case where U = utility and P, and P, are The degrees of freedom of test statistic | t l, with n observations is prices of two goods ? (A) n- k (A) SU/8X = 0 (B) n- k+1 (B) 60 /SU, =0 (C) n- k- 1 (C) 8-U/8X- Mode 4. x- Distribution payments problems Codes : (C) Evolved over the years in III IV several important ways (A) (B) (D) All of the above AN-NI (D N 65. Full employment and balance of 60. For the regression model given below payments equilibrium will be Y =B + BX +U automatically achieved in an Y = 20 + 2X optimum currency area SE : 0.46 (A) if exchange rates are flexible To test Ho : B, = 2.1 against H, : B, (B) foreign capital flows into the # 2.1 (not equal to 2.1), test statistic country It I is equal to (C) if labour and capital move (A) 4.609 B) 0.217 freely (C) 4.34 (D) 0.33 (D) if trade is liberalized51. Given the following production 53. Which of the following hypotheses function, match the items in list I are tested by a regression function ? and II : (A) Inter-relation between two or Y = AL K" a. B >0 more variables is significantly different from Zero. (B) The degree and direction of List - I List - II inter relations between two or I. Decreasing 1. a +B > 1 more variables are non-zero returns to and goodness of fit of the scale regression function is II. Increasing 2. a satisfactory. returns of (C) Degree of influence exercised scale by systematic explanatory III. Output 3. a + B
