Tuesday, January 23, 2018

Kerala PSC HSST Economics solved paper 2018

Kerala PSC HSST Economics Junior Solved Paper 2018
Question Code : 012/2018  
Category Code: 338/2017
Higher Secondary School Teacher (Junior)-Economics
Medium of Question: English 
Date of Test : 22/01/2018 

51. In the Keynesian Model of aggregate expenditure, real GDP is determined by the
(A) Level of taxes 
(B) Level of aggregate demand(√)
(C) Price level 
(D) Level of aggregate supply

52. An increase in expected future income
(A) shifts the saving function upward
(B) decreases consumption expenditure
(C) increases saving
(D) shifts the consumption function upward(√)

53. If the marginal propensity to save is 0.6, then the Marginal Propensity to consume Is
(A) 1.0 
(B) 0.4(√)
(C) 0.6 
(D) not determinable

54. When the consumption function becomes steeper,
(A) the saving function also become steeper
(B) the MPC falls
(C) the MPC rises(√)
(D) loss of every dollar is consumed

55. The only way to increase the output of one good is to reduce the output of another. This allocation of inputs is said to be :
(A) Consumption efficient (√)
(B) Production efficient
(C) Economic efficient 
(D) None of the above

56. A good for which consumption falls as an individual's income rises
(A) inferior good (√)
(B) consumption good
(C) durable good 
(D) non-durable good

57. The increase in consumption brought about by a increase in income, when the prices of goods are held constant
(A) substitution effect 
(B) income effect(√)
(C) price effect 
(D) none of the above

58. A curve that describes the relationship between the quantity of a good consumed and income
(A) Kinked curve 
(B) Engel curve(√)
(C) Demand curve 
(D) None of the above
59. A form of implicit collusion, where one firm in the market sets the price and other firms follow suit
(A) cartel 
(B) giffen good
(C) price leadership (√)
(D) price taker

60. A form of intertemporal price discrimination in which peak users pay more than off-peak users because marginal cost is higher during peak periods
(A) Peak-load pricing (√)
(B) peak-load effect
(C) peak-load consumption 
(D) none of the above

61. Segmented labour markets imply :
(A) labour discrimination
(B) Labour paid wage less than MRP
(C) MP theory of wage fails to determine market outcomes
(D) Equality of wages of different types of labour(√)
Which of the above is incorrect ?

62. In India those farmers are called 'Marginal Farmers' who hold land upto :
(A) 1 hectare (√)
(B) 2 hectares
(C) 3 hectares 
(D) 4 hectares

63. Which of the following is not related to 'empowerment of women' ?
(A) Gender Development Index 
(B) Gender Empowerment Measure
(C) Gender Budgeting 
(D) Gender discrimination(√)

64. The agricultural census is done at which one of the following intervals ?
(A) once in five years (√)
(B) every year
(C) once in ten years 
(D) twice

65. The maximum amount that a customer is willing to pay for a good
(A) real price 
(B) reservation price(√)
(C) marginal price 
(D) absolute price

66. Tobin tax is a tax on :
(A) transactions in the share market
(B) transactions in the money market
(C) transactions in the commodity market
(D) transactions in the foreign exchange market(√)
67. The discriminating monopolist will charge a higher price in the market in which the price elasticity of :
(A) demand is smaller (√)
(B) supply is smaller
(C) demand is greater 
(D) supply is greater

68. A model of oligopoly in which one firm sets output before the other firms do
(A) strategic model 
(B) stackelberg model(√)
(C) suspense model 
(D) duopoly

69. An expenditure that has already been made and cannot be recovered
(A) fixed cost 
(B) sunk cost(√)
(C) variable cost 
(D) real cost

70. Dividing consumers into two or more groups with different demands for a product in order to charge different prices to each group
(A) first degree price discrimination
(B) second degree price discrimination
(C) third degree price discrimination(√)
(D) none of the above

71. A market with few producers in the Industry
(A) Oligopoly (√)
(B) Monopsony
(C) Duopoly 
(D) Cartel

72. In case of deficit budget, when the deficits are covered through taxes, that budget is called :
(A) surplus budget 
(B) balanced budget(√)
(C) unbalanced budget 
(D) none of these

73. The WTO was founded in
(A) 1995 (√)
(B) 1998
(C) 2000 
(D) 1996

74. Privatisation of the public sector enterprises by selling off part of the equity of PSEs to the public is known as
(A) disinvestment (√)
(B) equity share
(C) profit 
(D) dividend

75. Which have been removed to increase the competitive position of Indian goods in the international markets ?
(A) Import duties 
(B) Export duties(√)
(C) Tariffs 
(D) Quota


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