CUET-PG 2020 question paper

All 75 questions from the CUET-PG 2020 CUET-PG Economics paper. Open any question for the worked solution.

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1. Q26The supply function for a product is given by: Qₛ = 3P - 4. A unit tax t is imposed on the supplier. The new supply function becomes:
2. Q27For a firm whose total cost and total revenue functions are given by: TC = mQ + c, TR = P· Q, which of the following statements is true?
3. Q28A main advantage of specialization results from
4. Q29The law of marginal utility (consumer equilibrium) states
5. Q30Average product of labour is defined as
6. Q31Which of the following functions are homogeneous of degree 1 (i.e. linear homogeneous)?
7. Q32An isoquant for perfect substitutes would be
8. Q33The equilibrium prices of a duopoly model are obtained at the intersection of their reaction curves. This is correct in the case of
9. Q34In stage three of production, also known as the stage of negative returns,
10. Q35Which of the following functions has unit price elasticity at P = 6?
11. Q36National product at current prices is higher than national product at constant prices during a period of
12. Q37Which one of the following represents saving in the private corporate sector?
13. Q38The investment multiplier can be obtained from (symbols have their usual meaning)
14. Q39Assuming: change in investment Δ I = 25, marginal propensity to save (MPS) = 0.5, marginal propensity to invest (MPI) = 0. The change in income Δ y…
15. Q40When a linear consumption function undergoes a parallel downward shift, the investment multiplier will
16. Q41Which of the following is NOT correct regarding the IS-LM model?
17. Q42Y = C + I + G + (X - M) is
18. Q43For the equation PT = MV to explain short-run price behaviour, it is necessary that
19. Q44Assume the consumption function of an economy is C = Rs.30 crore + 0.8Y and investment is Rs. 40 crore. The equilibrium level of income equals
20. Q45The Keynesian IS-LM model
21. Q46Redeemable debt is also called
22. Q47In the simple Keynesian model, a one-rupee increase in the fiscal deficit, brought about through some combination of changes in government…
23. Q48Neutrality of money implies that a given increase in the money supply will
24. Q49High-powered money is
25. Q50A firm with total cost TC = 50 + 3Q for Q units of output, selling at price P = 5, breaks even at the output level
26. Q51Okun's law postulates a
27. Q52Which of the following saving functions corresponds to an investment multiplier of 5?
28. Q53The elasticity of speculative demand for money under the liquidity-trap condition is
29. Q54Economic growth is depicted by
30. Q55'Capital widening' refers to that part of investment needed to
31. Q56The production function Y = F(K, L) states that
32. Q57When capital increases by Δ K units, output increases by
33. Q58The labour measure (L) is
34. Q59In the Solow growth model, the assumption of constant returns to scale means that
35. Q60The intermediate solutions of constraints must be checked by substituting them back into
36. Q61(x + y)(x - y) =
37. Q62For each set A,
38. Q63Which of the following is true?
39. Q64The function y = f(x) reaches a (relative) minimum where
40. Q65x² - 4x + 4 =
41. Q66(d(x^(1/2)))/dx =
42. Q67Which of the following is/are true?
43. Q68Which of the following is true?
44. Q69The number of non-zero rows in an echelon form is called
45. Q70In a frequency distribution, the last cumulative frequency is 500. The third quartile Q₃ must lie in the
46. Q71In a binomial distribution, if p = q, then P(X = x) is given by
47. Q72The mean of a distribution is 23, the median is 24, and the mode is 25.5. The distribution is
48. Q73The sum of dots when two dice are rolled is
49. Q74Core inflation is a measure of inflation
50. Q75Multicollinearity exists when
51. Q76In multiple regression, when the global test of significance is rejected, we can conclude that
52. Q77A residual is defined as
53. Q78If x̄ is 4 and the distribution is 2, 3, 4, 5, 6, the sum of squared deviations from x̄ will be
54. Q79In a week, the prices of a bag of rice were 350, 280, 340, 290, 320, 310, 300. The range is
55. Q80Find the median of the data: 160, 180, 200, 280, 300, 320, 400.
56. Q81Which of the following is a Union tax?
57. Q82Which committee recommended abolition of the tax rebate under Section 88?
58. Q83The 'Principle of Maximum Social Advantage' was introduced by
59. Q84Which of the following statements would describe the term "Public Finance"?
60. Q85According to Prof. Seligman, the three main principles on the basis of which revenue sources should be divided between the different layers of…
61. Q86The horizontal fiscal imbalance that arises in a fiscal federation is also called the
62. Q87Tax-revenue sharing between the federal and sub-national governments is aimed at correcting which type of imbalance?
63. Q88Which of the following is an imprest placed at the disposal of the President of India to enable the Government to meet urgent unforeseen expenditure…
64. Q89Taxes are levied to
65. Q90The managed exchange rates since 1973 have
66. Q91Which one of the following taxes is within the jurisdiction of the State Governments as enumerated in List-II of the Constitution of India?
67. Q92Fiscal deficit less interest payments is called
68. Q93Grants from the Centre to the States under the recommendations of the Finance Commission are known as
69. Q94Monetised deficit means
70. Q95NAFED is a
71. Q96According to Mundell, in an optimum currency area the achievement of internal and external balance is possible through
72. Q97The Employment Guarantee Scheme was first introduced in
73. Q98For an inferior good, the income-consumption curve and the Engel curve are
74. Q99Match 'labour force' with the appropriate item from among the following:
75. Q100A growth process resulting in broad-based benefits and providing equality of opportunity to all is referred to as