JNU SIS 2015 question paper

All 49 questions from the JNU SIS 2015 JNU MA Economics entrance paper. Open any question for the worked solution.

1. Q1Technological change that increases the average and marginal productivity of labour in the classical model would cause
2. Q2In the monetarist view, the long-run Phillips curve is
3. Q3In the Keynesian view
4. Q4If the marginal propensity to save is equal to 0· 4 in the simple Keynesian model, then a 10-unit increase in taxes will cause output to fall by
5. Q5Using the simple Keynesian model, consider the case where taxes are a function of income such that T = 50 + tY, where t is the marginal tax rate.…
6. Q6In the Keynesian model with both a variable price level and money wage, the aggregate supply function will be
7. Q7Which of the following is NOT an assumption of the Harrod-Domar model?
8. Q8Which of the following is NOT an investment in human capital?
9. Q9In the Keynesian model, if an increase in government spending of 40 units accompanied by an equal increase in taxes caused equilibrium income to…
10. Q10An exogenous growth may be welfare reducing if
11. Q11Compendium and Petibonum have just started to trade with each other. Compendium exports goods produced with skilled labour and imports goods made…
12. Q12Given all the necessary assumptions of the Heckscher-Ohlin-Samuelson theory of trade, free trade leads to complete equalization of factor prices in…
13. Q13The necessary condition for the Metzler paradox to hold in the absence of inferior goods requires that
14. Q14If the production transformation satisfies the convexity properties, then some trade can be shown to be better than no trade
15. Q15Consider the offer curve below where home exports are shown in the horizontal axis and the home imports are shown in the vertical axis: [FIGURE] The… · diagram
16. Q16A trade diverting custom union is necessarily welfare decreasing for a country, if the custom union formation allows for
17. Q17Suppose that demand in the market for economics books is Q_D = max {0, 3000 - 4P} and supply is Q_S = max {0, -1000 + 12P}. In market equilibrium…
18. Q18Suppose that the government imposed a ₹ 100 ceiling on economics books in the above question. The 'deadweight-loss' from this policy is
19. Q19If the matrix A = [2 3 5; α 0 α; 7 1 α] is singular, then
20. Q20The geometric mean of the numbers 4, 12, 20, 7, 0, 5 is
21. Q21A continuous random variable X has the p.d.f., f(x) = 3x²; 0 ≤ x ≤ 1. The value of a constant λ that satisfies the relation Pr {X ≤ λ} = Pr {X > λ} is
22. Q22The random variable X takes values 0, 1 and 2 with Pr {X = 0} = Pr {X = 2} = p and Pr {X = 1} = 1 - 2p, where 0 ≤ p ≤ 0 · 5. For which of the…
23. Q23The average score of 100 students in a subject was given to be 40. It was later found that a score 53 was recorded as 83 by mistake. What is the…
24. Q24If A, B and C are mutually exclusive and exhaustive events associated with a random experiment, and if Pr (B) = 3/2Pr (A) and Pr (C) = 1/2Pr (B)…
25. Q25Suppose a home firm competes with a foreign firm in the domestic market. The two firms produce homogenous products and compete in quantities. The…
26. Q26Suppose the supply of apples is given by S = (10 + 4P) and the demand for apples is given by D = (100 - 6P). Suppose the government institutes a…
27. Q27In country X, cigarettes are forbidden, so people trade cigarettes in a black market. The cigarette demand is Q_D = 12 - P and the cigarette supply…
28. Q28Anand consumes two goods, X and Y. His utility function is U = X²Y. The price of X is 1 and the price of Y is 2, while Anand's income is 100. Now…
29. Q29In question no. 28 above, the Slutsky compensating variation is
30. Q30In question no. 28 above, the Slutsky equivalent variation is
31. Q31Which of the following is true of a monopolist?
32. Q32Joe consumes only two goods, X and Y. Suppose that he always increases his quantity consumed of Y when the price of Y rises. Then we can infer that
33. Q33A risk-averse individual has to decide between two different lotteries
34. Q34Sam consumes only two goods, X and Y. If X is a Giffen good for Sam, then
35. Q35Mary's demand curve for food is Q = 10 - 2P. Her price elasticity of demand for food at price P* equals (-2/3). How much is P*?
36. Q36An employee's utility is increasing in wages received and decreasing in the effort exerted. What is the shape of the indifference curve in the wage…
37. Q37Which of the following will cause total revenue earned by cell phone producers to rise?
38. Q38Let the utility function be U = xy², where x and y are two consumption goods. The prices of the two goods and the money income are given by Pₓ = 2…
39. Q39Other things being equal, demand is more elastic when
40. Q40If the total output of candles in Nick's wicks shop increases from 20 per hour to 30 per hour as he hires the second worker, then
41. Q41Informal lenders extend credit to the poor more often than formal lenders, because
42. Q42Suppose that in a particular economy, the poor earn ₹ 500 per year and spend it all on consumption, the middle class earn ₹ 2,000 per year and spend…
43. Q43If Lorenz curves cross, we say there is less inequality in the case where
44. Q44One study found that the Gini coefficient for Egypt was 0· 403 and that for Australia was 0· 404. From this information, we can conclude that Egypt…
45. Q45If child mortality remained constant but the incidence of mortality shifted from late childhood to early childhood, then fertility rates would
46. Q46The supply curve of labour to industry in the Lewis model is horizontal if there is surplus labour in agriculture. This condition persists as long as
47. Q47lim_(x → 0) a^x/x is equal to
48. Q49f(x) = (2x - 3)³
49. Q50If f(x) = (x² - 2x + 4)/(x² + 4x + 3), then f(x) has