Monday, November 6, 2017

Kerala PSC HSST Economics Solved paper 2017

Kerala psc HSST economics Previous question papers Part 2
Question Paper Code: 12/2017/OL
Category Code: 357/2016
Date of Test 07-03-2017
HSST Economics Detailed syllabus: Click Here

26:-Which was the scheme launched in 25th Dec 2000 to provide all weather road connectivity in rural areas of the country?
Answer:- Option-C

27:-Which programme aimed to support the "poorest of poor"?
Answer:- Option-B

28:-Which is the grassroots of kudumbasree project?
Answer:- Option-B

29:-PMAGY is
A:-Prime Minister Adharsh Grameen Yojana
B:-Pradhan Mantri Adharsh Grameen Yojana
C:-Prime Mahila Aadhar Grama Yojana
D:-Primary Maha Aadhar Grama Yojana
Answer:- Option-B

30:-Rajiv Gandhi gramin vidyudikaran yojana was a scheme for _________
A:-Scheme for starting of hydro electric projects
B:-Scheme for rural electricity and household electrification
C:-Scheme for installation of electricity in gamin schools
D:-Scheme for starting small hydro electric projects in rural areas
Answer:- Option-B

31:-Which of the following best describes the methodology of Microeconomics?
A:-Dynamic, descriptive and general equilibrium
B:-Static, predictive and partial equilibrium
C:-Comparative static, descriptive and partial equilibrium
D:-Dynamic, predictive and general equilibrium
Answer:- Option-C

32:-In the case of Giffen goods substitution effect is
A:-Smaller than income effect
B:-Greater than income effect
C:-Equal to income effect
D:-None of the above
Answer:- Option-A

33:-''Beautiful mind'' is the biography of which mathematical genius who won Nobel Prize in Economics
A:-James Heckman
B:-John F. Nash
C:-James M. Mirless
D:-Kenneth J. Arrow
Answer:- Option-B

34:-A dynamic demand function postulates
A:-Consistency in preferences
B:-Lagged values of demand and income
C:-Transitivity in choice
D:-Strong ordering of preferences
Answer:- Option-B

35:-If income is either Rs. 250 with probability p=0.40 or Rs. 2,500 the expected income is
A:-Rs. 2,000
B:-Rs. 1,800
C:-Rs. 1,500
D:-Rs. 1,600
Answer:- Option-D

36:-Which of the following circumstances in an industry will result in Nash equilibrium?
A:-All firms have a dominant strategy and each firm chooses it
B:-All firms have a dominant strategy and only one firm choose it
C:-All firms have a dominant strategy and no firm chooses it
D:-None of these
Answer:- Option-A

37:-Marginal Revenue Product of a factor of production is
A:-The total revenue generated when one more unit of a factor is employed
B:-Change in the average revenue when an additional unit is employed
C:-Total revenue per factor when one more unit is hired
D:-Change in total revenue when an additional unit is used
Answer:- Option-D

38:-Market power is least for the seller in case of
A:-Perfect competitionB:-Bilateral monopoly
Answer:- Option-D

39:-The short run average cost curve has a flat stretch over a range of output because of the existence of
A:-Excess capacity
B:-Reserve capacity
C:-Full capacity utilization
D:-Efficiency in resource use
Answer:- Option-B

40:-In a Pareto optimal situation
A:-It is possible to make A or B better off without making any one of them worse off
B:-It is possible to make A or B better off by making any one of them worse off
C:-It is impossible to make A or B better off without making any one of them worse off
D:-It is impossible to make A or B worse off in order to make any one of them better off
Answer:- Option-C

41:-The value of Marginal propensity to consume is
B:-between 0 and 1
C:-between 1 and 2
D:-none of the above
Answer:- Option-B

42:-Which of the following schools of thought follow adaptive expectations?
A:-New Classical
B:-Real Business Cycle
C:-New Keynesian
D:-Orthodox Monetarist
Answer:- Option-D

43:-Insider outsider model explains
A:-Insider trading
B:-Internal and external trade
C:-Wage rigidity
D:-Interest elasticity of investment
Answer:- Option-C

44:-Classical economists believed in
A:-Market clearing
B:-Says law of markets
C:-Neutrality of money
D:-All of the above
Answer:- Option-D

45:-The concept of Natural Rate of unemployment is primarily associated with
A:-Milton Friedman
B:-George Akerlof
C:-Bohm Baverk
Answer:- Option-A

46:-In the region of liquidity trap the interest elasticity of money is
B:-very low
C:-very high
D:-none of the above
Answer:- Option-C

47:-Phillips curve shows the relation between
A:-tax rate and total revenue
B:-inflation and unemployment
C:-interest rate and investment
D:-income and consumption
Answer:- Option-B

48:-Which of the following schools believe that forces determining trend growth in an economy are not different from those causing fluctuations so that they consider analysis of growth inseparable from analysis of fluctuations in economic activity?
A:-Real business cycle
D:-All of the above
Answer:- Option-A

49:-Post Keynesians believe that Fluctuations in economic activity arise due to
A:-Demand side factors
B:-Supply side factors
C:-Both demand and supply side factors
D:-None of the above
Answer:- Option-C

50:-Relative income hypothesis is primarily associated with
A:-Milton Friedman
B:-J.S. Duesenberry
C:-F. Modigliani
D:-M.J. Farrel
Answer:- Option-B
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