List of top Economics Questions

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?

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

If a consumer definitely prefers a payment of INR 50 for sure to a lottery which promises rewards of INR 100 or INR 0 with probabilities of 1/2 each, then we can say that the consumer is:

In Ronald Coase's Nobel winning Coase theorem, if two bargaining parties have zero transaction costs, well-defined property rights over the good and there are no income effects:

The mark-up as a fraction of price for the profit-maximizing quantity \( Q^{*} \) for a monopolist can be expressed in the following form:
\(\frac{p^{*} - C(Q^{*})}{p^{*}} = -\frac{1}{e^{*}}.\)
We can say from this that:

A utility maximizing consumer has a utility function given by \(U(X,Y)=2X+Y\). He has a budget constraint given by \(X+2Y=10\). In equilibrium he purchases:

Keeping a consumer’s income constant, if bundle X is chosen by a consumer when bundle Y is available, then when bundle Y is chosen, X must not be a feasible alternative. This property of consumer behaviour is known as:

For a manufacturing firm, the cost function is given by \(C = q^{3} + 2q^{2} + q + 1.\) The marginal and average costs at \(q = 10\) units are respectively given by:

The current account balance in an open economy:

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

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

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.

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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.

Match List-I with List-II:

List-I(Characteristics)		List-II(Stages)
A	High Birth Rate and High Death Rate	I	Stage I
B	Low Birth Rate and High Death Rate	II	Stage II
C	High Birth Rate and Low Death Rate	III	Stage III
D	Low Birth Rate and Low Death Rate	IV	Not a part of this model

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Match List-I with List-II

List-I(Economic Concepts)		List-II(Description)
A	Kuznets Curve	I	Describes the relationship be tween currency depreciation and current account balance
B	Fisher Effect	II	Describes the relationship between autonomous investment and output
C	J Curve Effect	III	Describes the relationship between income and inequality
D	Multiplier Effect	IV	Describes the relationship between expected inflation rate and interest rate

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Which of the following is not a part of the national income?

Which of the following statements reflects a property of the t distribution?
(A) It ranges from -∞ to +∞
(B) Its mean is the average of X
(C) It ranges from 0 to +∞
(D) It does not vary with the change in degrees of freedom
Choose the correct answer from the options given below:

Suppose an individual has a utility function given by, \(U(x,y)=2x+3y\). We can say that this function displays:

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.

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?

Match the measures with the concept that is being measured

List-I(Indicators)		List-II(Description)
A	Gini Coefficient	I	Measures the wearing out of capital
B	GDP Deflator	II	Measures poverty
C	Head Count Ratio	III	Measures changes in price level
D	Depreciation	IV	Measures inequality

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If the GDP of an economy be Rs.100 and the autonomous aggregate investment and ex-post aggregate saving be Rs.30 in equilibrium, what would be the aggregate saving in equilibrium in that economy if the aggregate investment remains at Rs.30 and the average saving propensity increases from 30% to 40%?

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

Which of the following statements are valid assumptions of the Ordinary Least Squares regression model?
(A) Expected value of the error term is zero
(B) Heteroskedasticity
(C) The model is linear in parameters
(D) Autocorrelation
Choose the correct answer from the options given below: