(Papers) : IIT Madras HSEE Papers-2018 (Indian Economy)

Q.73 The curve joining all points representing bundles of goods, that are considered indifferently by a consumer is referred to as
[A] Indifference curve 
[B] Demand curve
[C] Supply curve
[D] None of the above

Q.74 The monotonicity of preferences implies that indifference curves are ___________ sloping.
[A] Upward 
[B] Downward
[C] Either Upward or Downward 
[D] Both Upward or Downward

Q.76 If the Total Fixed Cost (TFC) of production is Rs. 1000 and the Average Fixed Cost (AFC) is Rs. 200, how many products will be produced?
[A] 0 
[B] 5 
[C] 800 
[D] 1200

Q.77 Short-run Marginal Cost (SMC) curve cuts the Average Variable Cost (AVC) curve from ________ at ________ point of AVC.
[A] above; maximum 
[B] below; maximum
[C] above; minimum 
[D] below; minimum

Q.78 If the Total Revenue (TR) of a firm is Rs. 500 and the firm produces 50 units of output, what will be the Average Revenue (AR)?
[A] Rs. 25000 
[B] Rs. 450
[C] Rs. 10 
[D] Rs. 0.10

Q.79 The National Wastelands Development Board (NWDB) was set up in ___________ to convert 5 million hectares of wastelands per year into fuel wood and fodder plantations.
[A] 1952 
[B] 1956
[C] 1985
[D] 1988

Q.80 Which of the following variables is NOT used in calculating the Human Poverty Index (HPI)?
[A] Probability at birth not surviving to age 60
[B] Percentage of adults lacking functional literacy
[C] Percentage of people living below poverty line
[D] Long-term employment rate

Q.81 India's population as per the  2001 Census is _____.
[A] 2010 million
[B] 1800 million 
[C] 1200 million 
[D] 1028 million

Q.82 Author of The General Theory  of Employment, Interest and Money is _____.
[A] John Maynard Keynes
[B] Adam Smith
[C] N.G. Mankiw
[D] S. Fischer

Q.83 If (S - I) + (T - G) = (X - M), where S= Aggregate Saving, I= Investment Expenditure, T= Tax revenue, G= Government Expenditure, X= Export and M= Import, what is represented by (X - M)?
[A] Budget deficit 
[B] Fiscal deficit
[C] Monetary deficit 
[D] Net export

Q.84 If the currency held by the public is Rs. 1000  and the demand deposits is Rs. 500, calculate the Currency Deposit Ratio (CDR).
[A] 2 
[B] 500 
[C] 750
[D] 1500

Q.85 If the Marginal Propensity to Consume (MPC)  is 0.5, what will be the output multiplier?
[A] 0.5
[B] 2
[C] 0.25
[D] 2.5

Q.86 "In the face of high deficits, people save more".  This view is known as _____.
[A] Smith Equivalence 
[B] Ricardian Equivalence
[C] Dornbusch Equivalence
[D] Sen Equivalence

Q.87 ___________ was the Chairman of the National Commission on Enterprises in the unorganized/informal sector of 2004.
[A] Arjun Sen Gupta 
[B] C. Rangarajan
[C] Manmohan Singh
[D] Raghuram Rajan

Q.88 Which of the following countries is NOT part of  "EFTA" ?
[A] Austria 
[B] Italy 
[C] Norway
[D] Portugal

Q.89 A function y = f(x) is a non-decreasing function, if the value of y does not ____________ with ___________ in the value of x. Fill in the blanks with the correct answers from the given options.
[A] increase; increase 
[B] decrease; decrease
[C] decrease; increase
[D] None of the above
Q.90 Both Long-Run Average Cost (LRAC) and Long-Run Marginal Cost (LRMC) are __________ shaped.
[A] L
[B] Z 
[C] J 
[D] U

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Courtesy: CBSE