JNU SIS 2011 question paper

All 23 questions from the JNU SIS 2011 JNU MA Economics entrance paper. Open any question for the worked solution.

1. Q1Sam consumes only two goods X and Y. If X is a Giffen good for Sam, then
2. Q2Mary's demand curve for food is Q = 10 - 2P. Her price elasticity of demand for food at price P* is equal to -2/3. Find P*.
3. Q3In a country, cigarettes are forbidden, so people trade cigarettes in a black market. The cigarette demand is Q_D = 12 - P and the cigarette supply…
4. Q4Cournot duopolists face a market demand curve P = 56 - 2Q, where Q is total market demand. Each can produce output at a marginal cost of Rs 20…
5. Q5Let the utility function be U = xy², where x and y are two consumption goods. The prices of the two goods and money income are pₓ = 2, p_y = 3, M =…
6. Q8Two urns, contain red and blue balls. The first urn has 3 red and 7 blue balls, while the second urn has 6 red and 4 blue balls. An urn is selected…
7. Q9The probability density function of a random variable x is given as 1/x², where 1 < x < ∞. If the set A = {x; 1 < x < 2} and the set B = {x; 4 < x <…
8. Q10For the above offer curve OF, the absolute value of the elasticity of demand for imports is measured by · diagram
9. Q11The necessary and sufficient conditions for the factor price equalisation in the Heckscher-Ohlin model is
10. Q12Restricted trade is superior to free trade for
11. Q13Quantities of labour embodied per unit of goods X₁ and X₂ in country A are given by 0· 3 and 0· 7, while the same for country B are given by 0· 2…
12. Q14In the standard IS-LM framework, an equal and simultaneous reduction in G and T will cause
13. Q15Consider an economy described by the following equations: C = C₀ + 0· 8Y_d T = T₀ + 0· 25Y Y = C + I + G Where Y_d = Y - T is the disposable income.…
14. Q16Consider the following aggregate demand system: M^d = AD - r M^d/P = M^s/P AD = C + I + G C = 1 + 0.5Y I = 1 - 0.5Y Derive the equations for the IS…
15. Q17In an open economy the IS curve has a slope that is
16. Q18Consider the basic Solow model for this question. Suppose two countries A and B are identical in all aspects except that A 's saving rate is lower…
17. Q19With fixed exchange rates, fiscal expansion will lead to an increase in output that is
18. Q20The probability density function of a random variable y is α y(1-y)² for y lying between 0 and 1 (α is a constant). Find the probability of y lying…
19. Q21The function f: R → R defined by f(x) = { 1 if |x| ≤ 1; 2x if |x| > 1 } is
20. Q22The consumption set C = {(x, y) ∈ ℝ²₊; x ≥ x^∘ > 0 and y ≥ y^∘ > 0} is
21. Q23Find the determinant of the following matrix: A = [1 2 3; 0 1 -1; 1 2 1]
22. Q24Find the producer surplus for a profit maximising firm with the marginal cost function MC(q) = 2q + 1, when price is p₀ = 10.
23. Q25The utility function U(x) = (x^α - 1)/α; 0 < α ≤ 1; x ∈ R₊ is