Economic system representing equality in distribution is _________.

(a)

Capitalism

(b)

Globalism

(c)

Mixedism

(d)

Socialism

Which of the following statements regarding the circular-flow diagram is true?

(a)

If Vijay works for XYZ Solutions Ltd. and receives a salary payment, the transaction takes place in the market for goods and services.

(b)

If Vijay works for XYZ Solutions Ltd. and receives a salary payment, the transaction takes place in the market for goods and services.

(c)

None of these answers

(d)

The factors of production are owned by households.

The largest proportion of national income comes from___________

(a)

Private sector

(b)

Local sector

(c)

Public sector

(d)

None of the above

__________ employ factors of production to produce the goods and services.

(a)

Consumer

(b)

Business sectors

(c)

House holds

(d)

Farmers

Structural unemployment is a feature in a ________.

(a)

Static society

(b)

Socialist society

(c)

Dynamic society

(d)

Mixed economy

Which of the following economies largely structural unemployment which is due to slow rate of capital formation?

(a)

Developing economies

(b)

Underdeveloped economies

(c)

Developed economies

(d)

None of the above

Which of the following can cause shifts in consumption function:

(a)

Psychological attitude

(b)

Social practices

(c)

Business motives

(d)

Changes in price level

_____inflation is in no way dangerous to the economy.

(a)

walking

(b)

running

(c)

creeping

(d)

galloping

A Commercial Bank is an institution that provides services

(a)

Accepting deposits

(b)

Providing loans

(c)

Both a and b

(d)

None of the above

Cyclical disequilibrium in BOP occurs because of

(a)

Different paths of business cycle.

(b)

The income elasticity of demand or price elasticity of demand is different.

(c)

long-run changes in an economy

(d)

Both (a) and (b)

India has a comparative cost advantage in

(a)

textiles

(b)

steel

(c)

both of them

(d)

none of them

India’s relationship with ASEAN started in 1992 when India became a ………..?

(a)

sectoral dialogue partner

(b)

founding member

(c)

observer

(d)

permanent member.

Finance Commission determines

(a)

The finances of Government of India

(b)

The resources transfer to the states

(c)

The resources transfer to the various departments

(d)

None of the above

Pick out the method which is not a part of redemption

(a)

Sinking Fund

(b)

Surplus Budget

(c)

Terminal Annuities

(d)

Refunding

The common source of outdoor air pollution is caused by combustion processes from the following ______________

(a)

Heating and cooking

(b)

Traditional stoves

(c)

Motor vehicles

(d)

All the above

_________ are considered to be the lungs of the earth.

(a)

Oxygen

(b)

Water

(c)

Trees

(d)

Climate amelioration

Which of the following plan has focused on the agriculture and rural economy

(a)

People's Plan

(b)

Bombay Plan

(c)

Gandhian Plan

(d)

Vishveshwarya Plan

In _______ planning the period extends over 3 to 5 year upto 7 to 10 years.

(a)

over all

(b)

rolling

(c)

indicative

(d)

mid-term

The value of the coefficient of correlation r lies between

(a)

0 and 1

(b)

-1 and 0

(c)

-1 and +1

(d)

-0.5 and +0.5

If all values of a sample are same, then its variance is

(a)

1

(b)

0

(c)

2

(d)

Cannot be determined

What are the different models of circular flow of income?

Write the formula for calculating GNP.

Give reasons for labour retrenchment at present situation.

What is the main criticism of Keynes on Classicals?

Write a note on motives of precaution and foresight.

What is commodity money?

Mention few major functions of RBI.

When and where was SAARC Secretariat established?

Specify the meaning of seed ball.

What do you mean by economic development?

Outline the major merits of capitalism.

Write a note on social account method of national income.

Give short answer to the following
(i) Seasonal unemployment
(ii) Frictional unemployment
(iii) Educated unemployment

Write a note on Multiplier.

Explain Effects on Production of Inflation.

Explain the Net Barter Terms of Trade and Gross Barter Terms of Trade.

Write briefly about “Structural Adjustment Facility”

Specify the meaning of material balance principle.

What is vicious circle of poverty?

Find the Standard Deviation of the following data:14,22,9,15.20,17,12.11

1. Compare the features of capitalism and socialism.

2. Explain the importance of national income

1. Explain the differences between classical theory and Keynes' theory.

2. Explain Keynes psychological law of consumption function with diagram.

1. Explain the Secondary Functions.

2. Describe the functions of Reserve Bank of India.

1. How the Rate of Exchange is determined? Illustrate.

2. State the importance of the comparative advantage of international trade.

1. Explain the objectives of IMF.

2. What are the reasons for the recent growth in public expenditure?

1. What are the advantages of GST?

2. Briefly explain the relationship between GDP growth and the quality of environment.

1. Elucidate various measures of economic development.

2. Find the Karl Pearson coefficient of Correlation between X and Y from the following data:

   X:	10	12	13	16	17	20	25
   Y:	19	22	26	27	29	33	37