List of practice Questions

If \(Y=20+10X\), then \(Var[Y]\) is

Let \(Y=exp(a+bX)\), where a and b are constants. Calculate \(\frac{dX}{dY}\)​.

The relationship between a country's per capita income and its inequality of income distribution is known as

A die is rigged in a way that each odd number is twice as likely to occur as each even number. When a die is rolled, what is the probability that the outcome is greater than 3?

In how many ways can 10 economists attending a conference be accommodated in 2 triple sharing and 2 double sharing hotel rooms?

Suppose we have three coins. The first coin has heads on both sides. The second coin has tails on both sides. The third coin has head on one side and tail on the second side. One coin is randomly selected and tossed. The upper side of this coin turns out to be a head. What is the probability that the other side of this coin is tail?

Match List-I with List-II:

List-I		List-II
A	Fiscal Deficit	I	Import minus export of goods and services.
B	Primary Deficit	II	Revenue expenditure minus revenue receipt.
C	Revenue Deficit	III	Fiscal deficit minus interest payment.
D	Current Account Deficit	IV	Capital expenditure plus revenue deficit.

Choose the correct answer from the options given below

Which of the following statements are true in case of public goods?
(a) Public goods are non divisible.
(b) Public goods are non excludable.
(c) Whatever government purchases is called Public good.
(d) Whatever the public consumes is called public good.

Order the following country on the basis of nominal per capita income in year 2022, from the highest to lowest.
(a) China
(b) Brazil
(c) Russia
(d) India

Arrange the followings in a correct order.
(a) Procurement of foodgrains by the food corporation of India.
(b) Production of foodgrains in the agricultural sector.
(c) Distribution of foodgrains through fair price shops.
(d) Minimum support prices for foodgrains are decided.

Given a cubic cost function C(Q) = Q³ + Q² + Q + 1, arrange total cost (TC), Marginal Cost (MC), Average Cost (AC), Average Fixed Cost (AFC) in increasing order when Q = 2.
(a) AFC 
(b) TC 
(c) MC 
(d) AC

Assuming \( x \) is a whole number greater than or equal to 2, arrange the above four in decreasing order, with the largest first and smallest last:
(a) \(\frac{1}{x}\)
(b) \(\frac{1}{x^2}\)
©  \(\frac{1}{1+x}\)
(d)  \(\frac{1}{(1+x)^2}\)

Suppose X takes the values -10 and 20 with probability 1/4 and 3/4 respectively, calculate E[X²].

What would happen to the rate of interest, in new equilibrium, if the money supply rises in the Mundell-Fleming model under the flexible exchange rate and absolutely free capital mobility, if the international interest rate remains the same?

If the expected rate of return from the investment projects in India be 10% per annum, and if the exchange rate becomes Rs.88 per USD from Rs.80 per USD in one year, what would be the expected amount of profit in terms of US Dollar from an investment project of 100 Million USD in India from the point of view of an investor from the USA?

Arrange the following statements based on Keynesian theory.
(A) Level of aggregate income rises in Keynesian world.
(B) Aggregate Saving as a function of GDP rises.
(C) Government expenditure rises.
(D) Fiscal deficit rises, given revenue receipts.

Suppose a small country imposes an import tariff on a good. Which of the following statements is false?

Arrange the followings in a correct order.
(A) Employment and income come down.
(B) Investment demand comes down.
(C) Demand-pull inflation rate comes down.
(D) Repo rate or policy interest rate rises.

Match List-I with List-II:

List-I		List-II
A	Money supply is exogenously given.	I	Post-Keynesian school
B	Money supply is demand driven and credit led.	II	Say’s law
C	Rational expectation.	III	Monetarism
D	Supply creates its own demand	IV	Neo-classical school

Choose the correct answer from the options given below

Arrange the following events in chronological order
(A) New Economic Policy - Liberalisation
(B) Drain of Wealth
(C) White Revolution
(D) Monopolies Inquiry Commission

Which of the followings are correct in the context of inflation?
(A) Higher aggregate demand may lead to demand-pull inflation.
(B) Higher cost of production may lead to cost-push inflation.
(C) Higher international food and fuel prices may lead to inflation.
(D) Higher indirect taxes and lower subsidy may lead to inflation.

Arrange the following rates in ascending order.
(A) Repo Rate
(B) Lending Rate
(C) Deposit Rate
(D) Reverse Repo Rate

Which statutory body determines the criteria for tax devolution from the divisible pool to the States in India?

What would be the slope of the LM curve in the interest rate-income plane, if the rate of interest is exogenously determined by the Central bank?

What would be the slope of the labour supply curve if there is large scale involuntary unemployment in the economy, if wage rate is measured along the vertical axis and labour supply is measured along the horizontal axis?