UoH 2021 question paper

All 99 questions from the UoH 2021 University of Hyderabad MA Economics entrance paper. Open any question for the worked solution.

Q1If the inverse supply and inverse demand functions of a commodity X are given by Pₛ = 8 + 4X and P_d = 20 - 5X respectively, and if price P and…
Q2If we have the Leontief production function y = min {ax₁, bx₂} with two inputs x₁ and x₂, the associated total cost function will be of the
Q3In a simple Keynesian model of a closed economy, the marginal propensity to consume (MPC) is 0.8. If an income tax at 25% of income is introduced…
Q4Euler's product exhaustion theorem presumes
Q5Arrange the following in the increasing order of income elasticity of demand (e_Y): I. Luxuries II. Inferior goods III. Necessities
Q6If the current rate of interest changes from 5% to 4%, the market value of a pre-existing bond changes by:
Q7Reservation Price is
Q8For a commodity, its demand schedule shifts to the left and its supply schedule also shifts to the left. How do equilibrium price and quantity change?
Q9If equilibrium price is below price ceiling fixed by the government, then
Q10Suppose the government proposes a luxury tax on private jets. The demand for private jets is elastic and the supply is inelastic, at least in the…
Q11If the savings rate in an economy is 36% and the incremental output ratio is 4 then the growth rate of the economy will be
Q12Which of the following is NOT a theory of term structure of interest rate?
Q13The movement to free international trade is most likely to generate short-term unemployment in which industries?
Q14According to the Heckscher-Ohlin model, the source of comparative advantage is a country's:
Q15Under perfect capital mobility and fixed exchange rate
Q16A bag contains 4 black and 3 white identical balls. Two balls are drawn in succession at random without replacement. Consider the following events…
Q17Consider an economy with 2-goods. The set of all possible positive relative prices is given as: P = {(p₁, p₂) | p₁, p₂ > 0, and p₁ + p₂ = 1}.…
Q18f(x) = log (x² - 3), x > √3. Then, f(x) = 0, when, I. x = -√3; II. x = +2; III. x = +√3; IV. x = -2.
Q19The domain of the real valued function f(x) = √(2x + 4) is the interval
Q20Which one of these statistics is unaffected by outliers?
Q21A result is called “statistically significant” whenever
Q22The GDP deflator is a Price Index that measures
Q23The Phillips curve provides a theoretical link between
Q24According to the Neoclassical growth theory, sustained growth can only be explained by
Q25Consider the following statements: (i) Todaro model explains rural to urban migration. (ii) Joan Robinson model of growth has the concept of 'Golden…
Q26In a college, 25% of the students failed in Economics, 15% of the students failed in English and 10% of the students failed in both Economics and…
Q27If the first quartile is 142 and the semi-interquartile range is 18, what is the value of median assuming that the distribution is symmetrical?
Q28According to the advance estimates given in the Economic Survey 2020-21, India, the real Gross National Income for the year 2020-21 is projected
Q29According to the Mahatma Gandhi National Rural Employment Guarantee Act 2005
Q30PM CARES fund is created by Government of India with an objective to fight:
Q31Let V and W be random variables such that the correlation between these two variables is positive but less than 1 (0 < Corr(V,W) < 1). Let X = 2(V…
Q32Consider rolling of two fair dice (one White and one Blue), all outcomes being equally likely. Let n₁ be number that came up on the White die and…
Q33Identify the correct statement about the function given below: f(x) = { x² x ≤ 0; 0 0 < x < 5; (5-x)² x ≥ 5 }
Q34For an m by n matrix S having full column rank, m > n, let X = Sᵀ S and Y = S Sᵀ. Then, which of the following are true? I. X and Y are both of the…
Q35Given x = 2 is a root of the equation: x³ - 3x - 2 = 0, then the other two roots are:
Q36What is the difference, from a Marxian point of view, between the modes of exchange of ‘Traditional Economic system’ and ‘Capitalist economic system’?
Q37Which of the following best captures the basic idea of the Mercantilist school?
Q38The book, Asian Drama: An Inquiry into Poverty of Nations is authored by which of the following scholars?
Q39According to W. W. Rostow, a student of underdeveloped areas is more likely to be concerned with the economics of which two stages of growth?
Q40The Gross Fixed Capital Formation in India during 2012-21, according to the Economic Survey,
Q41The argument that market failures may be an endemic feature and therefore requires government intervention is due to
Q42De-industrialisation in colonial India stands for
Q43Political economy is primarily a study of
Q44Which among the following eminent Indian economists put forward the “drain of wealth theory” with respect to the British rule in India?
Q45Consider a society of a finite number of individuals (1, 2,... n) facing a finite number of states (i.e. alternatives), Z₁, Z₂, … Zₜ (t ≥ 3). Every…
Q46Preferences of an individual are represented by the utility function: u(x,y) = 1000(10+(x-15)² + (y-20)²)⁻¹, x ≥ 0, y ≥ 0. Then this utility function,
Q47When firms get together and attempt to set prices and outputs so as to maximize total industry profits, they are known as a
Q48A person purchased 8 units of sugar when his income was Rs. 2000. As his income has risen to Rs 2500, he has purchased 12 units of sugar. Then, the…
Q49Given the matrix E = [2 5 1], let matrix B = Eᵀ E. The determinant value of B is
Q50Based on the following paragraph, answer the question that follows it. “In this model, one person, M, wants to induce another person, N to take some…
Q51An increase in money supply and a drop in the consumer confidence will lead to
Q52The investment trap is a situation where investment demand is
Q53The market demand curve for a public good
Q54Given r = domestic interest rate, r* = foreign interest rate, d = forward discount on the home currency, which of the following expression…
Q55Assume B is social benefit, C is social cost, r is the social discount rate, t is the time and T is the life of an investment project. The Net…
Q56The policy corridor in monetary policy conducted by the RBI in present day consists of the following:
Q57Which of the following is true, if the Tobin's q is greater than one?
Q58If a project costs Rs. 100 at t=0, yields Rs. 60 at t=1, and Rs. 80 at t=2, and the compound rate of interest is 10% per period, then the NPV equals
Q59The “iron law of wages” is
Q60Malthusian theory of population explored the relationship between:
Q61Arrange the following commodities according their all India production in million tonnes in recent years (say, in years 2017-18 onwards) from…
Q62Due to a negative shock in the external sector, the demand forecast has become more pessimistic. How does this influence the marginal efficiency of…
Q63Leontief's results were considered paradoxical because the United States of America was believed to be
Q64Nontariff trade barriers could include all of the following except
Q65Import substitution is an example of
Q66The NAFTA is a:
Q67The current account includes
Q68If a farmer sells wheat to the miller for Rs.500 and the miller sells flour to the baker for Rs.700 and finally, the baker sells bread to the…
Q69The crawling peg is
Q70Which of the following tax has ‘announcement effect’?
Q71Efficiency requires that the production of pure public goods be undertaken to the point where,
Q72The equilibrium level of output and price
Q73Degree of monopoly power, L, is given by
Q74Consider a duopoly with the following market demand function: P = 30 - Q. Each firm is having a zero marginal cost. Then, in the Cournot…
Q75The demand and supply functions for a commodity are given by p = 120 - 5q_d and p = 24 + qₛ/3, where p is price, q_d is quantity demanded and qₛ is…
Q76If the demand function for the product of a firm is p = √(1350 - 6q), find the output level that maximizes total revenue.
Q77Suppose the demand functions for goods 1, 2, and 3 have the following functional forms, where Q denotes quantity demanded, P denotes price, and H…
Q78Which of the following economists proposed the idea of Balanced Growth in development theory?
Q79Amartya Sen argues in his work on Commodities and Capabilities that 'in judging the well-being of the person, it would be premature to limit the…
Q80According to Thomas Piketty, in the post-1970s and 80s the factor which to much greater extent determines who owns property, to what extent and who…
Q81Given the function W(x₁, x₂) = log (x₁² - x₂²) - log (x₁² + x₂²), the value of the function, Y = x₁ W₁ + x₂ W₂ (where W₁ and W₂ are first order…
Q82If the utility function U(x, y) = √(x² + y²), for x and y ≥ 0, then the indifference curves are
Q83For an industry with 11 firms, one with 50% market share and the other ten firms with 5% market share each, the Herfindahl index is equal to:
Q84A common fishing ground is:
Q85Chi-square test is used for
Q86Estimator is defined as
Q87Bilateral Monopoly is
Q88An increase in real interest rate causes desired investment to fall. Why?
Q89The difference between the actual unemployment rate and the natural rate of unemployment is called
Q90The type of monetary policy that is used in India, New Zealand, and the United Kingdom is:
Q91Universal Basic Income Transfer, a concept much discussed in the literature, aims to rectify
Q92In fiscal year 2018, the aggregate public health expenditure as percentage of GDP was:
Q93Suppose the probabilities of two independent events A and B are equal to 0.2 and 0.4. Then the conditional probability, P(A|B) is:
Q94Consider two samples. Sample A has the following observations: -6, -6, -1, 0, 1, 6, 6; and sample B has the following observations: 521, 524, 526…
Q95Unemployment resulting from a mismatch of workers' skills and job requirements is called
Q96If the aggregate price level at time t is denoted by CPIₜ, the inflation rate from time t-1 to t is defined as:
Q97What is the interest rate at which the Reserve Bank of India lends money to commercial banks?
Q98A rise in the price level causes the demand for money to and the interest rate to, everything else held constant.
Q100What is the disinvestment target for financial year 2021-22 for India?