CUET UG Economics · Paper 5

The price of petrol rises sharply. Other things remaining the same, the demand curve for petrol cars will:

At a price of ₹30, the quantity demanded of a good is 120 units and the quantity supplied is 80 units. Which of the following is correct?

A consumer's money income doubles and, at the same time, the prices of both goods she buys also double. Her budget line will:

Consider these statements about straight-line supply curves.

I. A supply curve that passes through the origin has a price elasticity of supply equal to 1 at every point.

II. A supply curve that meets the price axis above the origin has a price elasticity of supply greater than 1.

III. A supply curve that meets the quantity axis to the right of the origin has a price elasticity of supply less than 1.

Which of the statements are correct?

Assertion: In the long run, firms under perfect competition earn only normal profit.

Reason: Each firm under perfect competition faces a downward-sloping demand curve for its product.

When a firm employs 4 workers, the average product of labour is 30 units. When it employs a 5th worker, the average product falls to 28 units. What is the marginal product of the 5th worker?

An economy's production possibilities are given below.

The economy is now producing 2 guns and 30 units of butter. What is the least amount of butter it must give up to produce one more gun?

The main objective of measuring the primary deficit is to highlight present ______.

A system in which the exchange rate is mainly determined by market forces, but the central bank steps in to limit sharp ups and downs, is called:

Read the following statements carefully:

Statement I: Positive externalities refer to the benefits a firm/an individual provides to another for which they are paid.

Statement II: In case of positive externalities, Gross Domestic Product (GDP) of an economy might lead to an overestimation of the actual welfare.

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

Read the following statements carefully:

Statement I: Foreign grants-in-aid receipts do not lead to any claim on the government.

Statement II: Disposal of equity by the Public Sector Undertakings in the market may lead to a decrease in the assets of the government.

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

To correct a situation of deficient demand, the Reserve Bank of India is most likely to:

Identify the correct pair of statements given in List I with the related terms in List II:

The nominal GDP of an economy rises from ₹2,000 crore in year 1 to ₹2,640 crore in year 2. The GDP deflator is 100 in year 1 and 110 in year 2. What is the growth rate of real GDP?

In an economy, full-employment output is ₹1,000 crore. Autonomous consumption is ₹100 crore, the marginal propensity to consume is 0.8 and investment is ₹150 crore. At the full-employment level of output, the economy faces:

The population explosion and advent of Industrial Revolution led to the ______.

The export surplus during the colonial rule was used by the Britishers to ______.

I. Bring gold and silver to India

II. Incur expenses on war

III. Import invisible items

Which of the following are sources of human capital formation?

I. Expenditure on health

II. Migration in search of better-paid jobs

III. On-the-job training

IV. Purchase of new machinery by firms

The National Bank for Agriculture and Rural Development (NABARD) was set up in 1982 to:

Read the following statements carefully:

Statement I: Great Leap Forward (GLF) campaign met with many problems like severe drought, conflict with Russia etc.

Statement II: Under agricultural reforms, commune lands were allocated to individual households for ownership, who were allowed to keep all post-tax income.

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