CUET UG Economics · Paper 4

The central problem of 'for whom to produce' is concerned with:

Under perfect competition, the demand curve faced by an individual firm is:

Consider these statements about the indifference curves of a consumer with monotonic preferences.

I. An indifference curve slopes downward from left to right.

II. Two indifference curves can intersect each other.

III. A higher indifference curve gives a higher level of satisfaction.

IV. An indifference curve is concave to the origin because the marginal rate of substitution rises along it.

Which of the statements are correct?

A firm's total fixed cost is ₹600. At an output of 20 units, its average variable cost is ₹15. What is its average cost at 20 units?

A firm sells its output at ₹8 per unit. Its total cost (TC) schedule is given below.

What are the profit-maximising output and the maximum profit?

The demand function for a good is $Q = 100 - 2P$, where P is in ₹. The price rises from ₹20 to ₹22. Using the percentage method, what is the price elasticity of demand (ignoring the minus sign)?

The market demand and supply functions of a good are $Q_d = 200 - 4P$ and $Q_s = 6P - 50$. A rise in consumers' income raises demand by 50 units at every price. Compared with the old equilibrium, the new equilibrium has:

Identify which of the following is not one of the merits of fixed exchange rate system.

Which function of money removes the need for a double coincidence of wants in exchange?

Assertion: Government can control the situation of deficient demand through its taxation policy.

Reason: Reduction in tax rates by the government leads to increase in the disposable income of the people.

Purchase of a property by an Indian resident abroad can be recorded on the ______ side of ______ account of Balance of Payments.

Suppose, for a hypothetical economy, Reserve Ratio (RR) decreases from 25% to 20%, the total deposits would ______ to ₹ ______, if primary deposits are ₹1,000.

A farmer grows wheat worth ₹500 using no purchased inputs and sells it to a miller. The miller sells flour worth ₹800 to a baker. The baker sells bread worth ₹1,200 to households. What are the value added by the miller and the GDP generated by the three producers together?

Consider these statements about measures of government deficit.

I. A revenue deficit means the government is dissaving.

II. The fiscal deficit equals the borrowing requirement of the government.

III. If the primary deficit is zero, the government borrows only to pay interest on past loans.

IV. A balanced budget means the revenue deficit is zero.

Which of the statements are correct?

In an economy, the marginal propensity to save is 0.25. Investment rises by ₹500 crore. What are the resulting increases in consumption and in saving?

The Great Leap Forward campaign, launched in China in 1958, aimed at:

Which of the following is not an advantage of Green Revolution?

From the type of workers given in List I, identify the correct nature of work in List II:

Consider these statements about the diversification of agricultural activities in rural India.

I. It includes a change in the cropping pattern.

II. It includes a shift of workers from agriculture to allied activities and to the non-farm sector.

III. It increases the dependence of rural households on farming alone.

IV. It reduces the risk of depending only on agriculture for a livelihood.

Which of the statements are correct?

Assertion: Goods and Services Tax (GST) was implemented by the Government of India on 8th November, 2016.

Reason: GST was introduced to implement a unified indirect tax system in India.