List of top Economics Questions asked in GATE Humanities and Social Sciences- Economics

Consider the following Harrod-Domar growth equation: \[ \frac{s}{\theta} = g + \delta \] where \( s \) is the saving rate, \( \theta \) is the capital-output ratio, \( g \) is the overall growth rate, and \( \delta \) is the capital depreciation rate. If \( \delta = 0 \) and \( s = 20% \), then to achieve \( g = 10% \), the capital-output ratio will be ________ (in integer).

Let \( Y \) be income, \( r \) be the interest rate, \( G \) be government expenditure, and \( M_s \) be money supply. Consider the following closed economy IS-LM equations with a fixed general price level (\( \bar{P} \)): 
IS equation: \[ Y = 490 + 0.6Y - 4r + G \] LM equation: \[ \frac{M_s}{\bar{P}} = 20 + 0.25Y - 10r \] If \( G = 330 \) and \( \frac{M_s}{\bar{P}} = 500 \), then the equilibrium \( Y \) is ________ (round off to one decimal place).

Consider the two scenarios for a small open economy based on the Mundell-Fleming IS-LM model with floating exchange rate and perfect capital mobility.

Where \( Y \) is aggregate income, \( C \) is aggregate consumption, \( I \) is investment, \( r^* \) is the world interest rate, \( G \) is government expenditure, \( T \) is taxes, \( NX \) is net exports, \( e \) is exchange rate, \( M \) is money supply, and \( P^* \) is general price level. Given the relationships:
\( I \) has a negative relationship with \( r^* \),
\( NX \) depends negatively on both \( e \) and \( Y \),
\( P^* \) is fixed.
Which of the following statements is/are CORRECT?

A simple Keynesian open economy model is given by: \[ S + T + M = G + I + X \] where \( S \), \( I \), \( G \), \( T \), \( X \), and \( M \) stand for saving, investment, government expenditure, taxes, exports, and imports, respectively. If the country has a trade surplus, which strategy/strategies among the following will reduce the trade imbalance?

Match Column I with Column II.

Consider a simple Keynesian closed economy model with the following information: 
The Marginal Propensity to Consume (MPC) is 0.9 and the initial level of saving is INR 120. When income rises by INR 100, then the new level of saving will be INR ____________ (in integer).

Study the following chart of Employment and Gross Domestic Product. Analyse the trend of the two variables between 1990-2012. Analysis of the trend between 1990-2012: 

From the given data compare and analyse the Population Density and Fertility Rate of China and Pakistan, with valid reasons: Demographic Indicators, 2017-18 

"Development of Railways during British rule encouraged colonial exploitation of the Indian resources." 
Justify the given statement with valid arguments.

"Opening up of Suez Canal helped in establishing the British monopoly control over India's foreign trade". 
Justify the given statement with valid arguments.