CUET UG Economics · Paper 3

Other things remaining the same, which of the following shifts the supply curve of a good to the left?

With prices unchanged, a rise in consumers' income reduces the demand for good X. Good X is:

Consider these statements about short-run cost curves.

I. The marginal cost (MC) curve cuts the average cost (AC) curve at the minimum point of AC.

II. Average fixed cost (AFC) falls continuously as output rises.

III. The vertical gap between AC and average variable cost (AVC) stays the same as output rises.

IV. When MC is below AVC, AVC is rising.

Which of the statements are correct?

A consumer spends all her income on two goods, X and Y. The price of X is ₹4 and the price of Y is ₹2. At her present purchases, the marginal utility of X is 40 utils and the marginal utility of Y is 30 utils. To reach equilibrium, she should:

Consider these statements about the production possibility curve (PPC).

I. The PPC is concave to the origin because the marginal rate of transformation rises along it.

II. The discovery of new mineral deposits shifts the PPC outward.

III. Large-scale unemployment of resources shifts the PPC to the left.

IV. The PPC would be a straight line if the marginal rate of transformation were constant.

Which of the statements are correct?

A firm under perfect competition sells its product at ₹20 per unit. At its profit-maximising output of 50 units, its average cost is ₹16. Which of the following is correct?

The demand and supply schedules of wheat are given below.

The government fixes a minimum support price (price floor) of ₹25 per kg and buys up the entire surplus at that price. How much does the government spend?

Which of the following is a stock variable?

Identify the incorrect feature(s) of money supply (M1) from the following:

I. It is measured at a point of time.

II. It does not include stock of money held by the government.

III. It is always the currency in the hands of the Central Bank of a nation.

Read the following statements carefully:

Statement I: Brokerage earned by a dealer of second hand cars is included in the estimation of National Income.

Statement II: Imputed value of production for self-consumption is included in National Income.

In the light of the above given statements, choose the correct option from the following:

Match List I (function of the Reserve Bank of India) with List II (what it involves).

Choose the correct answer.

Suppose, the Balance of Trade of an imaginary economy shows a favourable balance of ₹500 crore. The values of merchandise exports are ₹1200 crore and transfer payments are ₹400 crore.

The value of merchandise imports would be ₹ ______ crore.

Assuming for an imaginary economy, consumption at zero level of income and break-even level of income is ₹50 and ₹200 respectively.

Choose the correct value of Marginal Propensity to Consume (MPC), from the following:

A government's fiscal deficit is ₹300 crore, its revenue deficit is ₹100 crore and its interest payments are ₹120 crore. Which of the following is correct?

When the income of an economy rises from ₹1,000 crore to ₹2,000 crore, its saving rises from ₹100 crore to ₹300 crore. Which of the following is correct?

______ was set up in 1974 by the Indian government to address two major environmental concerns viz. water and air pollution.

A worker who is hired by others, paid wages on a daily basis and gets no social security benefits such as a pension or provident fund is called:

Read the following statements carefully:

Statement I: Human development is based on the idea that education and health are integral to human well-being.

Statement II: Human capital treats humans as a means to an end.

In light of the given statements, choose the correct option from the following:

Assertion: In 1991, as an immediate measure to resolve the Balance of Payments crisis, the rupee was devalued against foreign currencies.

Reason: Devaluation of currency was imminent, to replenish the deteriorated foreign exchange reserves.

Consider these statements about Indian agriculture during 1950 to 1990.

I. A land ceiling fixed the maximum size of land that an individual could own.

II. Big landlords could not challenge land ceiling laws in courts, so the laws were enforced quickly.

III. In the first phase of the Green Revolution, the use of HYV seeds was largely restricted to more affluent states such as Punjab, Andhra Pradesh and Tamil Nadu.

IV. The Green Revolution raised the marketed surplus, as farmers sold a larger part of their higher output in the market.

Which of the statements are correct?