The complete UGC NET October 2022 question paper for Economics, covering Paper 1 (General Aptitude) and Paper 2 (Economics). Every question below is shown with its options and the correct answer, and a detailed explanation you can unlock by signing in. All 150 questions are free to practise.
| Exam | UGC NET October 2022 |
|---|---|
| Papers | Paper 1 (General Aptitude) and Paper 2 (Economics) |
| Exam date(s) | October 8, 2022 |
| Shift(s) | Shift 2 |
| Paper 1 questions | 50 questions · 60 minutes · 100 marks |
| Paper 2 questions | 100 questions · 120 minutes · 200 marks |
| Total | 150 questions |
| Marking scheme | +2 per correct answer · No negative marking |
UGC NET October 2022 · Economics sitting
50 questions with the answer key and explanations.
The illiterate population of City A is:
The table gives the percentage distribution of total population, literate males, and literate females in six cities. Across all cities, total population is 1.5 crore, literate males are 40 lakh, literate females are 25 lakh, and the male:female population ratio is 8:7.
| City | Population (% of 1.5 crore) | Literate males (% of 40 lakh) | Literate females (% of 25 lakh) |
|---|---|---|---|
| A | 16% | 18% | 24% |
| B | 18% | 12% | 18% |
| C | 21% | 20% | 12% |
| D | 15% | 16% | 16% |
| E | 20% | 19% | 20% |
| F | 10% | 15% | 10% |
Answer: (A) 10.8 lakh
Explanation
Number of literate males of City E as a percentage of number of literate females of City F is:
The table gives the percentage distribution of total population, literate males, and literate females in six cities. Across all cities, total population is 1.5 crore, literate males are 40 lakh, literate females are 25 lakh, and the male:female population ratio is 8:7.
| City | Population (% of 1.5 crore) | Literate males (% of 40 lakh) | Literate females (% of 25 lakh) |
|---|---|---|---|
| A | 16% | 18% | 24% |
| B | 18% | 12% | 18% |
| C | 21% | 20% | 12% |
| D | 15% | 16% | 16% |
| E | 20% | 19% | 20% |
| F | 10% | 15% | 10% |
Answer: (C) 304%
Explanation
Literate population of City E is ............ % of the population of E.
The table gives the percentage distribution of total population, literate males, and literate females in six cities. Across all cities, total population is 1.5 crore, literate males are 40 lakh, literate females are 25 lakh, and the male:female population ratio is 8:7.
| City | Population (% of 1.5 crore) | Literate males (% of 40 lakh) | Literate females (% of 25 lakh) |
|---|---|---|---|
| A | 16% | 18% | 24% |
| B | 18% | 12% | 18% |
| C | 21% | 20% | 12% |
| D | 15% | 16% | 16% |
| E | 20% | 19% | 20% |
| F | 10% | 15% | 10% |
Answer: (D) 42
Explanation
The difference between the illiterate population and the literate population of City C is:
The table gives the percentage distribution of total population, literate males, and literate females in six cities. Across all cities, total population is 1.5 crore, literate males are 40 lakh, literate females are 25 lakh, and the male:female population ratio is 8:7.
| City | Population (% of 1.5 crore) | Literate males (% of 40 lakh) | Literate females (% of 25 lakh) |
|---|---|---|---|
| A | 16% | 18% | 24% |
| B | 18% | 12% | 18% |
| C | 21% | 20% | 12% |
| D | 15% | 16% | 16% |
| E | 20% | 19% | 20% |
| F | 10% | 15% | 10% |
Answer: (B) 9.5 lakh
Explanation
Number of literate males of City D is ............ % more than the number of literate females of City D.
The table gives the percentage distribution of total population, literate males, and literate females in six cities. Across all cities, total population is 1.5 crore, literate males are 40 lakh, literate females are 25 lakh, and the male:female population ratio is 8:7.
| City | Population (% of 1.5 crore) | Literate males (% of 40 lakh) | Literate females (% of 25 lakh) |
|---|---|---|---|
| A | 16% | 18% | 24% |
| B | 18% | 12% | 18% |
| C | 21% | 20% | 12% |
| D | 15% | 16% | 16% |
| E | 20% | 19% | 20% |
| F | 10% | 15% | 10% |
Answer: (B) 60
Explanation
Which of the following is a teacher-centred method?
Answer: (D) Demonstration method
Explanation
Assertion (A): One of the objectives of higher education is to promote critical and creative thinking abilities in students.
Reason (R): Critical and creative thinking abilities are developed by rote learning.
Choose the most appropriate answer.
Answer: (C) (A) is true but (R) is false
Explanation
Which of the following are common criteria of tests?
A. Administrative condition
B. All questions of higher order thinking skills
C. Time limit
D. Nature of questions
E. Marks allocation
Answer: (D) A, C, D, E only
Explanation
In the context of curriculum, which of the following are correct?
A. Curriculum should be modified regularly
B. Curriculum should have theoretical concepts only
C. Curriculum should be derived from constitutional imperatives of the country
D. Curriculum should be made as per needs of industry and society
E. Curriculum should be teacher-centric
Answer: (C) A, C, D only
Explanation
What does the symbol 'CC' signify?
Answer: (C) Creative Commons
Explanation
When a research study is conducted to know about an unknown area and collect information, it is known as:
Answer: (D) Exploratory research
Explanation
A true zero point is the feature of:
Answer: (B) Ratio scale
Explanation
Which of the following are similar elements in both qualitative and quantitative research?
A. Answering research questions
B. Preference to macro data
C. Do not suffer from issues of error
D. Importance to transparency
E. Exploration of variation
Answer: (C) A, D, E only
Explanation
Which of the following are unethical in the context of research?
A. Seeking informed consent of respondents
B. Offering incentives to respondents
C. Coercing respondents for sensitive personal information
D. Hiding the research purpose from respondents
E. Maintaining confidentiality
Answer: (B) B, C, D only
Explanation
Statement I: Triangulation is described as researchers taking different perspectives in answering research questions.
Statement II: Triangulation is expected to produce knowledge from different insights to promote quality research.
Choose the most appropriate answer.
Answer: (A) Both Statement I and Statement II are true
Explanation
Which of the following is a semantic barrier?
Answer: (D) Redundancy in writing
Explanation
In communication, channel richness is highest in the case of:
Answer: (C) Face-to-face conversation
Explanation
Kinesics, when used, will communicate a person's:
A. Social status
B. Level of involvement
C. Emotional quotient
D. Political mobility
E. Language ambiguity
Answer: (A) A, B, C only
Explanation
Statement I: Language and other symbolic means of communication are surely social products.
Statement II: Communication media always provide the feel-good factor to their users.
Choose the most appropriate answer.
Answer: (C) Statement I is true but Statement II is false
Explanation
Identify the correct sequence of the following elements in the mass communication process.
A. Selective exposure
B. Selective attention
C. Cognitive dissonance
D. Congruent information
E. Confirmation of bias
Answer: (B) A, E, C, B, D
Explanation
Find the number that must be added to the terms of the ratio 13 : 25 to make it equal to 7 : 10.
Answer: (C) 15
Explanation
Find the next term in the series: 5, 9, 14, 20, 27, 35, ?
Answer: (C) 44
Explanation
A sum of Rs. 16,800 is divided into two parts. One part is lent at simple interest of 6% per annum and the other at 8% per annum. After 2 years, the total amount received is Rs. 19,000. Find the sums lent at 6% and 8%, respectively.
Answer: (A) Rs. 12,200 and Rs. 4,600
Explanation
In a certain coding scheme, 'UNIVERSITY' is coded as 'EIINRSTUVY'. How shall 'INSTITUTION' be coded in the same coding scheme?
Answer: (A) IINNOSTTTU
Explanation
The average weight of 30 persons is increased by 2 kg when one of them, whose weight is 40 kg, is replaced by a new person. What is the weight of the new person?
Answer: (B) 100 kg
Explanation
Which of the following propositions is contrary to the proposition 'All women are honest'?
Answer: (B) No women are honest.
Explanation
Which of the following forms of categorical propositions is valid?
A. Some S is not P
B. Some S is P
C. No S is P
D. All S is P
Accepted answers: (A) A, B and C only, (B) B, C and D only, (C) A, C and D only, (D) A, B, C, D
Explanation
Which informal logical fallacy is committed in the following argument?
'No one has shown that aliens did not create the crop circles. So the crop circles must have been made by the aliens.'
Answer: (B) Appeal to Ignorance
Explanation
Statement I: Aristotelian syllogism has three terms.
Statement II: Nyaya syllogism has five terms.
Choose the most appropriate answer.
Answer: (C) Statement I is true but Statement II is false
Explanation
The proposition, 'All things are non-eternal because they are knowable,' is fallacious because:
Answer: (A) The middle term is non-exclusive.
Explanation
A destructive computer program that masquerades as a useful application is called:
Answer: (C) Trojan
Explanation
Statement I: The concept of cyber technology is described as a wide range of networked communication devices.
Statement II: Many sociologists are concerned with people becoming too dependent on technology.
Choose the most appropriate answer.
Answer: (A) Both Statement I and Statement II are true
Explanation
In Microsoft Office PowerPoint, there are two types of slide orientation that are supported. What are these orientation types?
Answer: (A) Portrait and Landscape
Explanation
If a user wants to print 'Within Budget' in cell B3 when A2 is less than or equal to 100, and 'Over Budget' when A2 is greater than 100, which formula should be entered?
Answer: (D) =IF(A2<=100,"Within Budget","Over Budget")
Explanation
To receive email, you need an email provider, a connection to your provider and an email application. What does the acronym POP stand for?
Answer: (B) Post Office Protocol
Explanation
Statement I: Bioconcentration in humans can occur due to consumption of fish.
Statement II: Bioconcentration is the tendency of hazardous substances to accumulate in human tissues.
Choose the most appropriate answer.
Answer: (D) Statement I is false but Statement II is true
Explanation
Assertion (A): Large-scale dams also cause Green House Gas emissions.
Reason (R): When submerged vegetation decays, it produces carbon dioxide which is a green house gas.
Choose the most appropriate answer.
Accepted answers: (A) Both (A) and (R) are true and (R) is the correct explanation of (A), (B) Both (A) and (R) are true but (R) is NOT the correct explanation of (A), (C) (A) is true but (R) is not false, (D) (A) is not false but (R) is true
Explanation
Wind energy:
A. is an intermittent energy
B. is extremely useful at remote and isolated places
C. does not depend upon weather
D. is a clean energy
E. does not have any environmental impact at all
Answer: (B) A, B, D only
Explanation
Indian National Ambient Air Quality Standards stipulate the maximum permissible limit of annual mean concentration of PM2.5 to be:
Answer: (C) 40 micrograms/m3
Explanation
Which of the following are Sustainable Development Goals (SDGs)?
A. No poverty
B. Zero hunger
C. Employment to everyone
D. Quality education
E. Gender Equality
Answer: (C) A, B, D, E only
Explanation
Previous National Policy on Education, 1986 was modified in the year:
Answer: (B) 1992
Explanation
The most important fallout of university reforms under whose leadership was the first official announcement of the future education policy of the Government of India, intended to reduce tension among educated Indians caused by university reforms?
Answer: (C) Curzon
Explanation
Which of the following universities have been recognized as Institutes of Eminence?
A. Banaras Hindu University
B. Amrita Vishwa Vidyapeetham
C. Calcutta University
D. Central University of Hyderabad
E. Jawaharlal Nehru University
Answer: (B) A, B, D only
Explanation
Which of the following recognised for the first time that the government should give 'frank and cordial support' to female education and take effective measures for its expansion?
Answer: (C) The Wood's Despatch
Explanation
The Acts of incorporation passed in 1857 provided for the establishment of Universities of Calcutta, Bombay and Madras on the model of:
Answer: (D) University of London
Explanation
The movement of libertarian paternalism is unattractive as it is a combination of:
There is a new movement called libertarian paternalism which is not attractive. Both words are characterised by stereotypes from popular culture and politics that make them unappealing to many. Even worse, the concepts seem to be contradictory. If the terms are properly understood, both concepts reflect common sense. They are far more attractive together than alone. According to the libertarian strategy, people should be free to do what they like. It is also to opt out of undesirable arrangements, if they want to do so. The libertarian paternalists urge that people should be free to choose. Policies are designed to maintain or increase freedom of choice. The paternalistic aspect lies in the claim that it is legitimate for choice architects to try to influence people's behaviour. It is to make people's lives longer, healthier and better. Institutions in the private sector and also the government should make conscious efforts to steer people's choices to improve their lives. A policy is paternalistic if it tries to influence choices that make choosers better off, as judged by people themselves. It is a fact that individuals often make pretty bad decisions. These would not have been made had they paid full attention and possessed complete information, unlimited cognitive abilities and complete self-control. Libertarian paternalism, however, is a relatively weak, soft and non-intrusive type of paternalism, because it does not force people from taking bad decisions.
Answer: (C) Contradictory concepts
Explanation
The libertarian strategy insists that people should opt for:
There is a new movement called libertarian paternalism which is not attractive. Both words are characterised by stereotypes from popular culture and politics that make them unappealing to many. Even worse, the concepts seem to be contradictory. If the terms are properly understood, both concepts reflect common sense. They are far more attractive together than alone. According to the libertarian strategy, people should be free to do what they like. It is also to opt out of undesirable arrangements, if they want to do so. The libertarian paternalists urge that people should be free to choose. Policies are designed to maintain or increase freedom of choice. The paternalistic aspect lies in the claim that it is legitimate for choice architects to try to influence people's behaviour. It is to make people's lives longer, healthier and better. Institutions in the private sector and also the government should make conscious efforts to steer people's choices to improve their lives. A policy is paternalistic if it tries to influence choices that make choosers better off, as judged by people themselves. It is a fact that individuals often make pretty bad decisions. These would not have been made had they paid full attention and possessed complete information, unlimited cognitive abilities and complete self-control. Libertarian paternalism, however, is a relatively weak, soft and non-intrusive type of paternalism, because it does not force people from taking bad decisions.
Answer: (A) Freedom of choice
Explanation
The libertarian paternalists seek policies aimed to:
There is a new movement called libertarian paternalism which is not attractive. Both words are characterised by stereotypes from popular culture and politics that make them unappealing to many. Even worse, the concepts seem to be contradictory. If the terms are properly understood, both concepts reflect common sense. They are far more attractive together than alone. According to the libertarian strategy, people should be free to do what they like. It is also to opt out of undesirable arrangements, if they want to do so. The libertarian paternalists urge that people should be free to choose. Policies are designed to maintain or increase freedom of choice. The paternalistic aspect lies in the claim that it is legitimate for choice architects to try to influence people's behaviour. It is to make people's lives longer, healthier and better. Institutions in the private sector and also the government should make conscious efforts to steer people's choices to improve their lives. A policy is paternalistic if it tries to influence choices that make choosers better off, as judged by people themselves. It is a fact that individuals often make pretty bad decisions. These would not have been made had they paid full attention and possessed complete information, unlimited cognitive abilities and complete self-control. Libertarian paternalism, however, is a relatively weak, soft and non-intrusive type of paternalism, because it does not force people from taking bad decisions.
Answer: (B) Preserve the people's liberty of choice
Explanation
The government and private institutions should make efforts to:
There is a new movement called libertarian paternalism which is not attractive. Both words are characterised by stereotypes from popular culture and politics that make them unappealing to many. Even worse, the concepts seem to be contradictory. If the terms are properly understood, both concepts reflect common sense. They are far more attractive together than alone. According to the libertarian strategy, people should be free to do what they like. It is also to opt out of undesirable arrangements, if they want to do so. The libertarian paternalists urge that people should be free to choose. Policies are designed to maintain or increase freedom of choice. The paternalistic aspect lies in the claim that it is legitimate for choice architects to try to influence people's behaviour. It is to make people's lives longer, healthier and better. Institutions in the private sector and also the government should make conscious efforts to steer people's choices to improve their lives. A policy is paternalistic if it tries to influence choices that make choosers better off, as judged by people themselves. It is a fact that individuals often make pretty bad decisions. These would not have been made had they paid full attention and possessed complete information, unlimited cognitive abilities and complete self-control. Libertarian paternalism, however, is a relatively weak, soft and non-intrusive type of paternalism, because it does not force people from taking bad decisions.
Answer: (D) Steer people's choices for improving their lives
Explanation
The focus of the passage is on:
There is a new movement called libertarian paternalism which is not attractive. Both words are characterised by stereotypes from popular culture and politics that make them unappealing to many. Even worse, the concepts seem to be contradictory. If the terms are properly understood, both concepts reflect common sense. They are far more attractive together than alone. According to the libertarian strategy, people should be free to do what they like. It is also to opt out of undesirable arrangements, if they want to do so. The libertarian paternalists urge that people should be free to choose. Policies are designed to maintain or increase freedom of choice. The paternalistic aspect lies in the claim that it is legitimate for choice architects to try to influence people's behaviour. It is to make people's lives longer, healthier and better. Institutions in the private sector and also the government should make conscious efforts to steer people's choices to improve their lives. A policy is paternalistic if it tries to influence choices that make choosers better off, as judged by people themselves. It is a fact that individuals often make pretty bad decisions. These would not have been made had they paid full attention and possessed complete information, unlimited cognitive abilities and complete self-control. Libertarian paternalism, however, is a relatively weak, soft and non-intrusive type of paternalism, because it does not force people from taking bad decisions.
Answer: (C) The freedom of choices for a better society
Explanation
100 questions with the answer key and explanations.
If the income effect for a good is in the opposite direction as the substitution effect, but the substitution effect dominates, then the good is
Answer: (B) Inferior but not Giffen
Explanation
Two factors of production, say A and B, have the same price. The least-cost combination of A and B for producing a given level of output will be achieved at a point where the isoquant has slope equal to
Answer: (C) −1
Explanation
Suppose a profit-maximising monopolist is producing 800 units of output and is charging a price of Rs. 40 per unit. If the elasticity of demand for the product is −2, the marginal cost of the last unit produced is ________.
Answer: (D) 20
Explanation
Which of the following is not a marginal condition of Pareto optimality criteria?
Answer: (D) MRPTᴷₓ,ᵧ = MRPTᴸₓ,ᵧ = w/r
Explanation
The strategy of choosing the policy which has the best possible outcome is known as ________.
Answer: (B) Maxi max
Explanation
“Menu Cost” is a concept used in
Answer: (C) New-Keynesian economics
Explanation
Real and nominal income is calculated respectively at
Answer: (B) Constant and current prices
Explanation
What will be the aggregate Domestic Income NDP (FC) of the economy for 2022–23 if GDP (Market Price) = 27,654 crores, Depreciation = 2,847 crores, and Indirect taxes less subsidies = 2,160 crores?
Answer: (B) 22,647
Explanation
The central bank policy of altering the domestic credit extended by it in an equal and opposite direction to the variation in foreign exchange reserves so that the monetary base remains unchanged is called
Answer: (D) Sterilisation
Explanation
The irrelevance of money for real variables in the classical system is called
Answer: (B) Monetary neutrality
Explanation
Hari's score in statistics in the first year is 76, whereas the class average is 68 with a standard deviation of 5. What is Hari's Z-score?
Answer: (B) 1.6
Explanation
A bag contains 20 tickets marked with numbers 1 to 20. One ticket is drawn at random. Find the probability that it will be a multiple of 2 or 5.
Answer: (C) 0.6
Explanation
A simultaneous equation model is said to be over-identified if:
Answer: (B) More than one numerical value can be obtained for some of the parameters of the structural equations
Explanation
The fitted regression equation is given by Ŷᵢ = −10 + 0.6X. What is the value of the residual at the point X = 40, Y = 60?
Answer: (B) 46
Explanation
If the demand function is P = 35 − 2x − x² and the demand x₀ is 3, what will be the consumer's surplus?
Answer: (A) 27
Explanation
A firm's total-revenue function is R = 30Q − Q² and its total-cost function is C = 20 + 4Q, where Q is output. Find the equilibrium output of the firm.
Answer: (B) 13
Explanation
Find the rank of the 3 × 3 matrix with rows (6, 3, 5), (−10, 2, 8), and (5, 2, 3).
Answer: (B) 2
Explanation
Integrate: x²/(x + 2)
Answer: (C) x²/2 − 2x + 4 log(x + 2) + c
Explanation
The “tequila effect” indicates:
Answer: (A) The spread of the 1994–95 Mexican crisis to other countries in Latin America
Explanation
In which stage of the product cycle model, the imitating country starts producing the product for domestic consumption?
Answer: (A) Stage - III
Explanation
What does the result of the first empirical test of the Heckscher-Ohlin model by Wassily Leontief find?
Answer: (A) U.S. exports were less capital-intensive than U.S. imports
Explanation
In the Mundell-Fleming model, under floating exchange rate, which policy is more effective to influence aggregate income?
Answer: (B) Monetary policy
Explanation
The provision for social goods, or the process by which total resource use is divided between private and social goods and by which the mix of social goods is chosen is known as ________.
Answer: (A) Allocation function
Explanation
Primary deficit is given by ________.
Answer: (A) Fiscal deficit − Interest payments
Explanation
When MPC = 0.75, a decrease in taxes Rs. 20 crore will increase GDP by
Accepted answers: (A) Rs. 200 crores, (B) Rs. 100 crores, (C) Rs. 600 crores, (D) Rs. 800 crores
Explanation
Which of the following strategy is not correct in order to have expansionary impact of fiscal policy?
Answer: (B) Public expenditure must be financed through increased taxes only
Explanation
In the context of the transaction demand for money, the square root rule was developed by
Answer: (C) Baumol - Tobin
Explanation
If time deposit is not included, then the money multiplier will be (Cr = currency deposit ratio, rr = reserve deposit ratio)
Answer: (D) (Cr + 1)/(rr + Cr)
Explanation
One of the various qualitative instruments used by the central bank during inflation is
Answer: (A) Raise margin requirement
Explanation
The hypothesis of cumulative causation as an explanation of the backwardness of developing nations is associated with
Answer: (B) Gunnar Myrdal
Explanation
Match ‘Labour Force’ with the appropriate item from among the following:
Answer: (B) Employed + unemployed
Explanation
In Harrod-Domar Model, if the growth rate of income is 8% and the capital output ratio is 4% then the saving rate must be
Answer: (A) 32%
Explanation
Net migration refers to
Answer: (A) Overall level of population change resulting from total migrants and emigrants
Explanation
The change in welfare due to change in environmental quality is measured by
Answer: (C) Marginal Willingness to Pay (WTP) function
Explanation
A stationary population is that when population growth is
Answer: (C) Grows at zero rate
Explanation
‘PM Gatishakti’ is driven by ________ engines.
Answer: (D) Seven
Explanation
Growth in total consumption in India in 2021–22 is likely to be
Answer: (C) 7.0 Percent
Explanation
What has been the reason for recent dip in vehicle registration in the country?
Answer: (A) Shortage of semi-conductor chips
Explanation
In which year, Gross Domestic saving rate was the highest?
Answer: (B) 2007-08
Explanation
Which of the following modern Indian Economic thinker had not gone abroad for study or work?
Answer: (D) Deen Dayal Upadhyaya
Explanation
Which of the following conditions are satisfied for a rational firm to achieve its equilibrium by maximising Q = f(L, K) subject to C = wL + rK?
A. (∂Q/∂L)/(∂Q/∂K) = w/r
B. ∂²Q/∂L² > 0, ∂²Q/∂K² > 0
C. ∂²Q/∂L² < 0 and ∂²Q/∂K² > 0
D. ∂²Q/∂L² < 0 and ∂²Q/∂K² < 0
E. (∂²Q/∂L²)(∂²Q/∂K²) > (∂²Q/∂L∂K)²
Choose the correct answer from the options.
Answer: (B) (A), (D) and (E) only
Explanation
Which of the following are correct with respect to IS-LM model?
A. The LM schedule slopes upward to the right.
B. The LM schedule will shift to the left with an increase in quantity of money.
C. The LM schedule gives equilibrium in the money market.
D. The IS schedule will shift to the left when there is an increase in government expenditure.
E. The IS schedule will shift to the right when taxes are reduced.
Choose the correct answer from the options.
Answer: (A) (A), (C), (E) only
Explanation
Monetary policy instruments are
A. Changes in public expenditure
B. Changes in taxation
C. Open market operations
D. Bank reserve requirement
E. Interest rate policy
Choose the correct answer from the options.
Answer: (C) (C), (D), (E) only
Explanation
Tools of expansionary fiscal policy include
A. Raising Government expenditure
B. Reducing Government expenditure
C. Increasing tax rate
D. Reducing tax rate
E. Increasing money supply
Choose the correct answer from the options.
Answer: (A) (A), (D) only
Explanation
Basic characteristics of an under developed economy
A. A low level of technology and poor human capital
B. Higher level of GDP and per capita income
C. A high proportion of the labour force engaged in agriculture and low agriculture productivity
D. A high proportion of domestic expenditure on food
E. Higher incidence of poverty
Choose the correct answer from the options.
Answer: (A) (A), (C), (D), (E) only
Explanation
Which of the following hold good for Lewis model of development?
A. Unlimited supply of labour
B. Marginal productivity of labour in the subsistence sector is equal to, or less than, subsistence wage
C. Dual economy with a modern sector and a subsistence sector
D. Agricultural sector subject to increasing returns
E. Model that explains the crucial role of capitalist surplus in the development process
Choose the correct answer from the options.
Answer: (A) (A), (B), (C), (E) only
Explanation
Which of the following is correct?
A. The gross barter terms of trade uses quantity index for imports and exports
B. Both gross barter terms of trade and net barter terms of trade make use of the price index for imports and exports
C. The net barter terms of trade uses price index for imports and export
D. Both gross barter terms of trade and net barter terms of trade make use of the quantity index for imports and exports
E. The gross barter terms of trade uses price index but the net barter terms of trade uses quantity index for imports and exports
Choose the correct answer from the options.
Answer: (D) (A) and (C) only
Explanation
Which of the following are correct?
A. Current account includes merchandise export
B. Current account do not include merchandise export
C. Current account includes invisible export
D. Current account do not includes invisible export
E. Current account includes both merchandise exports and imports and invisible exports and imports
Choose the correct answer from the options.
Answer: (B) (A), (C) and (E) only
Explanation
Which of the following are correct?
A. M₁ = C + DD + OD
B. M₂ = M₁ + saving deposits with post office saving banks
C. M₃ = M₂ + net time deposits of banks
D. M₃ = M₁ + net time deposits of banks
E. M₄ = M₁ + total deposits with the post office savings
Choose the correct answer from the options.
Answer: (B) (A), (B) and (D) only
Explanation
Which of the following properties of matrix are correct?
A. (A′)′ = A
B. The rank of an n × n nonsingular matrix A must be less than n
C. (AB)′ = B′A′
D. (A + B)ⁿ = Aⁿ + Bⁿ
E. (A′)⁻¹ = (A⁻¹)′
Choose the correct answer from the options.
Accepted answers: (A) (A), (B) and (C) only, (B) (A), (D) and (E) only, (C) (A), (C) and (D) only, (D) (C), (D) and (E) only
Explanation
Which of the following are correct?
A. The market is a system that works with price mechanism
B. Market failure refers to the divergence of market equilibrium from Pareto optimality
C. Market fails to efficiently supply public goods and the same makes a case for government intervention
D. Market efficiently works in the presence of positive externalities
E. Market efficiently works in the presence of negative externalities
Choose the correct answer from the options.
Answer: (B) (A), (B) and (C) only
Explanation
Which of the following are assumptions of ordinal utility analysis?
A. Consumers are consistent in their preferences
B. Consumer can measure the total utility received from any given basket of goods
C. Consumer preferences follow transitivity
D. Consumers are non-satiated with respect to goods they confront
E. Consumers are irrational
Choose the correct answer from the options.
Answer: (C) (A), (C), (D) only
Explanation
The binomial distribution can be used under the following conditions
A. n, the number of trials is finite and independent
B. n, the number of trials is infinite and independent
C. Each trial results in two mutually exclusive and exhaustive outcomes, termed as success and failure
D. P, the probability of success is constant for each trial
E. The probability of failure does not remain same for each trial
Choose the correct answer from the options.
Answer: (C) (A), (C) and (D) only
Explanation
Which of the following are correct in case of normal distribution?
A. Q₁ + Q₃ = 2Md
B. Q.D. = (1/3)σ
C. Q.D. = (2/3)σ
D. All moments of odd order about mean are zero
E. Q₁ + Q₃ = Md
Choose the correct answer from the options.
Answer: (C) (A), (C) and (D) only
Explanation
What are the primary goals of sustainability?
A. The end of poverty and hunger
B. Better standard of education and healthcare
C. To achieve gender equality
D. Sustainable economic growth
E. To achieve both inter and intra generational equity
Choose the correct answer from the options.
Answer: (D) (A), (B), (C), (D) and (E) only
Explanation
What are the practical consequences of multicollinearity in CLRM?
A. R², the overall measure of goodness of fit can be very high
B. OLS estimators are not BLUE
C. OLS estimators have small variance and covariances
D. t ratio of one or more coefficients is statistically insignificant
E. The OLS estimators and their standard errors can be sensitive to small changes in the data
Choose the correct answer from the options.
Answer: (C) (A), (D) and (E) only
Explanation
With reference to the views of classicals on public debt, which of the following are correct:
A. Future financing gets more troublesome due to public debt
B. Public debt leads to a reduction of resources for productive private employment
C. Increasing public debt leads to currency depreciation and deflationary situations in the economy
D. Debt financing requires funds for interest payment and amortization, hence a double burden for exchequer
E. Public debt leads to productive activities
Choose the correct answer from the options.
Answer: (D) (A), (B) and (D) only
Explanation
If we have objective function involving n variables: U = f(X₁, X₂, X₃, .... Xₙ) subject to ϕ(X₁, X₂, X₃, .... Xₙ) = 0. The second order condition for extremum to be
A. For maximum |H̄₂| < 0, |H̄₃| < 0, ....
B. For maximum |H̄₂| > 0, |H̄₃| < 0, ....
C. For maximum |H̄₂| < 0, |H̄₃| > 0, ....
D. For minimum |H̄₂| < 0, |H̄₃| < 0, ....
E. For minimum |H̄₂| > 0, |H̄₃| > 0, ....
Choose the correct answer from the options.
Answer: (B) (B) and (D) only
Explanation
Which of the following conditions prevail in the long run equilibrium of industry for achieving optimal resource allocation
A. The output is produced at the minimum feasible cost
B. Consumer pays the minimum possible price which just covers the marginal cost of the product
C. Plants are used at full capacity in long run
D. Firms earn supernormal profits
E. Perfect competitive firms and price mechanism operates
Choose the correct answer from the options.
Answer: (A) (A), (B), (C) and (E) only
Explanation
In relation to considerations of demographic dividend there appears to be demographic dualism exhibited by the Indian states. In this regard consider the following factors
A. Total fertility rate
B. Sex ratio
C. Per capita income
D. Urbanisation rate
Choose the correct answer from the options.
Answer: (B) Only (A)
Explanation
Here is given sex ratio for different states of India for 2011
A. Gujarat : 942
B. Madhya Pradesh : 931
C. Odisha : 979
D. Tamil Nadu : 996
E. Haryana : 862
Choose the correct answer from the options.
Answer: (A) (B), (C) and (D) only
Explanation
Here is given weights of items under use based classification of industrial production index of India (Base 2011-12)
A. Primary goods 34.05%
B. Capital goods 12.22%
C. Intermediate goods 17.22%
D. Infrastructure/Construction goods 12.34%
E. Consumer goods 24.17%
Choose the correct answer from the options.
Answer: (C) (A), (C) and (D) only
Explanation
Which of the following were the part of FDI policy reforms and other measures during the Covid-19 pandemic period?
A. 100 per cent FDI in the health sector
B. Permitting foreign investment up to 100 percent under automatic route in Telecom services sector
C. FDI monitoring cell has been formed to expedite FDI proposals
D. Raised the FDI limit from 49 per cent to 74 per cent in insurance companies under the automatic route
E. Reduced the limit of FDI in the defence sector to realize the vision of Atmanirbhar Bharat
Choose the correct answer from the options.
Answer: (C) (B), (C) and (D) only
Explanation
Below are some of the features of the Micro, Small and Medium enterprises (MSMEs) in India.
A. Revised definition of the MSMEs was brought in July 2020
B. In this definition turnover limit varied between service and manufacturing enterprises
C. In the revised definition turnover limit for small enterprises was Rs.50 crore
D. In this revised definition, investment limit in plant and machinery or equipment for medium enterprises was Rs.50 crore
E. In the revised definition, investment limit for plant and machinery or equipment for medium enterprises was Rs.5 crore
Choose the correct answer from the options.
Answer: (B) (A), (C) and (D) only
Explanation
Pradhan Mantri Jan Dhan Yojana (PMJDY) has been a flagship programme of the Government of India
A. Beneficiaries of this scheme are eligible for accident insurance cover of Rs. 1 lakh now
B. PMJDY is helpful in inclusive development
C. PMJDY beneficiaries should not be given other benefits like benefits under MUDRA scheme
D. It is leading to women empowerment
E. More than 45 crore people have benefitted so far under PMJDY
Choose the correct answer from the options.
Answer: (C) (B), (D) and (E) only
Explanation
Match List I with List II.
| List-I | List-II |
|---|---|
| A. The greatest good for the greater number | I. Lerner's index |
| B. Stability of general equilibrium | II. Bentham's criterion |
| C. Degree of monopoly power | III. Tâtonnement |
| D. Third degree price-discrimination | IV. Pigou |
Answer: (D) (A)-(II), (B)-(III), (C)-(I), (D)-(IV)
Explanation
Match List I with List II.
| List-I | List-II |
|---|---|
| A. Absolute Income Hypothesis | I. Milton Friedman |
| B. Relative Income Hypothesis | II. J.M. Keynes |
| C. Permanent Income Hypothesis | III. James Duesenberry |
| D. Life Cycle Hypothesis | IV. Franco Modigliani |
Answer: (B) (A)-(II), (B)-(III), (C)-(I), (D)-(IV)
Explanation
Match List I with List II.
| List-I | List-II |
|---|---|
| A. Money supply and price level in an economy are in direct proportion | I. A.W. Phillips |
| B. Inverse relationship between unemployment and rate of wage inflation | II. Fisher |
| C. Profit as reward for innovation | III. Robert Lucas |
| D. Policy ineffective proposition | IV. Joseph Schumpeter |
Answer: (A) (A)-(II), (B)-(I), (C)-(IV), (D)-(III)
Explanation
Match List I with List II.
| List-I | List-II |
|---|---|
| A. Testing of overall significance | I. Chi-square test |
| B. Testing the independence of attributes | II. Jarque-Bera test |
| C. Testing the significance of regression coefficients | III. F-test |
| D. Normality test | IV. t-test |
Answer: (B) (A)-(III), (B)-(I), (C)-(IV), (D)-(II)
Explanation
Match List I with List II.
| List-I | List-II |
|---|---|
| A. Size matters in international trade | I. Paul Krugman |
| B. Economies of scale and monopolistic competition in international trade | II. Mercantilists |
| C. Technological gap theory of trade | III. M.V. Posner |
| D. Zero sum game of trade | IV. The gravity model |
Answer: (B) (A)-(IV), (B)-(I), (C)-(III), (D)-(II)
Explanation
Match List I with List II.
| List-I | List-II |
|---|---|
| A. Rural-Urban migration | I. Arthur Lewis |
| B. Economic development with unlimited supply of labour | II. Gunnar Myrdal |
| C. Process of cumulative causation | III. Raul Prebisch |
| D. Decline in terms of trade of primary commodities | IV. Harris-Todaro |
Answer: (B) (A)-(IV), (B)-(I), (C)-(II), (D)-(III)
Explanation
Match List I with List II.
| List-I | List-II |
|---|---|
| A. Pure Public good | I. Non-rival but excludable |
| B. Pure Private good | II. Non-excludable but rivalry |
| C. Open access resources | III. Non-rival and non-excludable |
| D. Congestible resource | IV. Excludable and rival |
Answer: (B) (A)-(III), (B)-(IV), (C)-(II), (D)-(I)
Explanation
Match List I with List II.
| List-I | List-II |
|---|---|
| A. Reverse repo rate | I. RBI provides loan to commercial banks for short term |
| B. Bank rate | II. RBI provides loan to commercial banks for long term |
| C. Repo rate | III. RBI borrows money from commercial banks |
| D. Cash reserve ratio | IV. Commercial banks have to deposit minimum ratio of their net total liabilities in RBI |
Answer: (B) (A)-(III), (B)-(II), (C)-(I), (D)-(IV)
Explanation
Match List I with List II.
| List-I | List-II |
|---|---|
| A. FEMA | I. 1969 |
| B. MRTP Act | II. 2002 |
| C. Competition Act | III. 1973 |
| D. FERA | IV. 1999 |
Answer: (D) (A)-(IV), (B)-(I), (C)-(II), (D)-(III)
Explanation
Match List I with List II.
| List-I | List-II |
|---|---|
| A. Andhra Pradesh PCI in 2020-21 | I. Rs. 98,418 |
| B. Madhya Pradesh PCI in 2020-21 | II. Rs. 1,09,730 |
| C. Odisha PCI in 2020-21 | III. Rs. 1,21,267 |
| D. West Bengal PCI in 2020-21 | IV. Rs. 1,70,215 |
Answer: (B) (A)-(IV), (B)-(I), (C)-(II), (D)-(III)
Explanation
Arrange the different schools of thought in a sequence of their occurrence starting from the oldest.
A. Physiocrats
B. Keynesian economics
C. Classical economics
D. New Keynesian economics
E. Monetarist Counter revolution
Choose the correct answer from the options.
Answer: (D) (A), (C), (B), (E), (D)
Explanation
Arrange the countries based on descending order of Human Development Index Value in 2019.
A. Norway
B. Bangladesh
C. India
D. China
E. Nepal
Choose the correct answer from the options.
Answer: (A) (A), (D), (C), (B), (E)
Explanation
Arrange the states in descending order based on percentage of population who are multidimensionally poor based on NITI Aayog Report 2021.
A. Bihar
B. Odisha
C. Rajasthan
D. Uttar Pradesh
E. Madhya Pradesh
Choose the correct answer from the options.
Answer: (A) (A), (D), (E), (C), (B)
Explanation
Arrange the following events in sequence, with the oldest first.
A. The Tokyo Round
B. The Uruguay Round
C. The Annecy Round
D. The Dillon Round
E. The Torquay Round
Choose the correct answer from the options.
Answer: (C) (C), (E), (D), (A), (B)
Explanation
Write the steps to estimate the ECM/VAR model in time series.
A. Unit root test
B. ACF and PACF test
C. ECM/VAR
D. Inputting data
E. Cointegration test
Choose the correct answer from the options.
Answer: (C) (D), (B), (A), (E), (C)
Explanation
Arrange the following chronologically in order of their years of first occurrence.
A. Environmental Kuznets Curve Hypothesis
B. Limits to growth theorem
C. Boulding's The Economics of the Coming Spaceship Earth
D. Jevons's The Coal Question
E. Rachel Carson's Silent Spring
Choose the correct answer from the options.
Accepted answers: (A) (E), (A), (B), (D), (C), (B) (A), (C), (D), (B), (E), (C) (D), (A), (E), (C), (B), (D) (E), (D), (C), (B), (A)
Explanation
Arrange the following environmental disasters chronologically in accordance with their occurrence.
A. Bhopal Gas Tragedy
B. Chernobyl explosion
C. London smog episodes
D. Exxon Valdez
E. The Three Mile Island Nuclear Disaster
Choose the correct answer from the options.
Answer: (B) (C), (E), (A), (B), (D)
Explanation
Arrange the following in ascending order.
A. Growth rate of Gross National Income at constant price of India in 2015-16
B. Growth rate of Gross National Income at constant price of India in 2016-17
C. Growth rate of Gross National Income at constant price of India in 2017-18
D. Growth rate of Gross National Income at constant price of India in 2018-19
E. Growth rate of Gross National Income at constant price of India in 2019-20
Choose the correct answer from the options.
Answer: (C) (E), (D), (C), (A), (B)
Explanation
Arrange the following criteria used by the Fifteenth Finance Commission for horizontal devolution in ascending order of their assigned weights.
A. Area
B. Forest and Ecology
C. Income Distance
D. Tax and Fiscal efforts
E. Demographic performance
Choose the correct answer from the options.
Answer: (A) (D), (B), (E), (A), (C)
Explanation
Provide proper chronological order of different schemes launched in India.
A. Pradhan Mantri Jan Aushadhi Yojana
B. Pradhan Mantri Ujjwala Yojana
C. Atal Pension Yojana
D. PM Jan Dhan Yojana
E. Ayushman Bharat Yojana
Choose the correct answer from the options.
Answer: (D) (D), (C), (A), (B), (E)
Explanation
Statement I: If you bought a product which now becomes subject to tax, you will be in a better position to avoid the tax and the seller bears a larger part if your demand is elastic while seller's supply is inelastic.
Statement II: A tax on salt is likely to be borne by the consumer.
Answer: (A) Both Statement I and Statement II are correct
Explanation
Statement I: Dualism refers to economic and social divisions in an economy, such as differences in technology between sectors or regions, geographic development, social customs, and attitudes.
Statement II: Developing countries in the early stage of development experience dualism, which has implications for their future pattern and pace of development.
Answer: (A) Both Statement I and Statement II are true
Explanation
Assertion (A): The endogenous growth theory examines production functions that show increasing returns.
Reason (R): Increasing returns in endogenous growth theory arise from specialization, investment in knowledge capital, and learning by doing.
Answer: (A) Both (A) and (R) are correct and (R) is the correct explanation of (A)
Explanation
Statement I: Devaluation always corrects a chronic balance of payments deficit.
Statement II: An expected devaluation leads to speculative capital outflows from the domestic country.
Answer: (D) Statement I is false but Statement II is true
Explanation
Statement I: Taking advantage of the increased demand for staples during the COVID-19 pandemic, India's agricultural exports continued to do well in 2021-22.
Statement II: Like in 2020-21, segments like marine products, buffalo meat, tea, coffee and dairy products continued to perform poorly in terms of exports from India in 2021-22.
Answer: (C) Statement I is true but Statement II is false
Explanation
Which of the following is true?
Although globalisation is often accused of increasing world poverty, the fact is that poverty would probably be even more widespread without globalisation. What is true is that globalisation did not benefit all nations. What globalisation can be blamed for is not spreading the benefits of increased efficiency and openness that come with globalisation more evenly and equitably to all nations. The stock of Foreign Direct investments around the World states that in 2010, the inward stock of FDI of developing countries was 48 percent that of developed countries, while their stock of outward FDI was about 17 percent that of developed countries. The New International Economies of Scale states that more and more products manufactured by international corporations have parts and components made in many different nations. The reason is to minimise production costs. Foreign sourcing of inputs is often not a matter of choice to earn higher profit, but simply a requirement to remain competitive. The carry Trade is the strategy in which an investor borrows a low yielding currency and lends or invests in a higher yielding currency. The risk is that if during the investment period, the higher yielding currency depreciates against the lower yielding currency by a higher percentage than the positive interest differentials, the investor will lose money.
Answer: (C) Without globalisation world poverty would probably be even more widespread
Explanation
What has globalisation been blamed for?
Although globalisation is often accused of increasing world poverty, the fact is that poverty would probably be even more widespread without globalisation. What is true is that globalisation did not benefit all nations. What globalisation can be blamed for is not spreading the benefits of increased efficiency and openness that come with globalisation more evenly and equitably to all nations. The stock of Foreign Direct investments around the World states that in 2010, the inward stock of FDI of developing countries was 48 percent that of developed countries, while their stock of outward FDI was about 17 percent that of developed countries. The New International Economies of Scale states that more and more products manufactured by international corporations have parts and components made in many different nations. The reason is to minimise production costs. Foreign sourcing of inputs is often not a matter of choice to earn higher profit, but simply a requirement to remain competitive. The carry Trade is the strategy in which an investor borrows a low yielding currency and lends or invests in a higher yielding currency. The risk is that if during the investment period, the higher yielding currency depreciates against the lower yielding currency by a higher percentage than the positive interest differentials, the investor will lose money.
Answer: (D) Globalisation has not spread the benefits of increased efficiency and openness equitably to all nations
Explanation
Which of the following reflects the most correct sense of the New International Economies of Scale?
Although globalisation is often accused of increasing world poverty, the fact is that poverty would probably be even more widespread without globalisation. What is true is that globalisation did not benefit all nations. What globalisation can be blamed for is not spreading the benefits of increased efficiency and openness that come with globalisation more evenly and equitably to all nations. The stock of Foreign Direct investments around the World states that in 2010, the inward stock of FDI of developing countries was 48 percent that of developed countries, while their stock of outward FDI was about 17 percent that of developed countries. The New International Economies of Scale states that more and more products manufactured by international corporations have parts and components made in many different nations. The reason is to minimise production costs. Foreign sourcing of inputs is often not a matter of choice to earn higher profit, but simply a requirement to remain competitive. The carry Trade is the strategy in which an investor borrows a low yielding currency and lends or invests in a higher yielding currency. The risk is that if during the investment period, the higher yielding currency depreciates against the lower yielding currency by a higher percentage than the positive interest differentials, the investor will lose money.
Answer: (C) Cheaper inputs from different countries are required to remain competitive
Explanation
During the investment period, if the higher yielding currency depreciates against the lower yielding currency by a higher percentage than the positive interest differential, what will occur?
Although globalisation is often accused of increasing world poverty, the fact is that poverty would probably be even more widespread without globalisation. What is true is that globalisation did not benefit all nations. What globalisation can be blamed for is not spreading the benefits of increased efficiency and openness that come with globalisation more evenly and equitably to all nations. The stock of Foreign Direct investments around the World states that in 2010, the inward stock of FDI of developing countries was 48 percent that of developed countries, while their stock of outward FDI was about 17 percent that of developed countries. The New International Economies of Scale states that more and more products manufactured by international corporations have parts and components made in many different nations. The reason is to minimise production costs. Foreign sourcing of inputs is often not a matter of choice to earn higher profit, but simply a requirement to remain competitive. The carry Trade is the strategy in which an investor borrows a low yielding currency and lends or invests in a higher yielding currency. The risk is that if during the investment period, the higher yielding currency depreciates against the lower yielding currency by a higher percentage than the positive interest differentials, the investor will lose money.
Answer: (A) The investor will lose money
Explanation
Which of the following is incorrect?
Although globalisation is often accused of increasing world poverty, the fact is that poverty would probably be even more widespread without globalisation. What is true is that globalisation did not benefit all nations. What globalisation can be blamed for is not spreading the benefits of increased efficiency and openness that come with globalisation more evenly and equitably to all nations. The stock of Foreign Direct investments around the World states that in 2010, the inward stock of FDI of developing countries was 48 percent that of developed countries, while their stock of outward FDI was about 17 percent that of developed countries. The New International Economies of Scale states that more and more products manufactured by international corporations have parts and components made in many different nations. The reason is to minimise production costs. Foreign sourcing of inputs is often not a matter of choice to earn higher profit, but simply a requirement to remain competitive. The carry Trade is the strategy in which an investor borrows a low yielding currency and lends or invests in a higher yielding currency. The risk is that if during the investment period, the higher yielding currency depreciates against the lower yielding currency by a higher percentage than the positive interest differentials, the investor will lose money.
Answer: (C) Both the inward stock of FDI to developing countries and outward stock of FDI from developing countries remained higher in developing countries than developed countries
Explanation
What is the prioritized objective of industrialization in terms of startup initiatives?
Since the Second Five Year Plan, the Government of India has emphasized industrial development and the promotion of self-reliance. At that time, the priority was import substitution and export promotion. Although the same objectives remain relevant, the priorities of industrialisation have changed. Industry helps not only in achieving self-reliance and reducing dependence on foreign countries, but also in creating massive employment in a populous country like India. The Startup India programme began in 2014 to promote new initiatives and industries in critical domains of strategic importance. Recognised startups increased from 726 in FY 2016-17 to 65,861 in FY 2021-22. Startups spread across 640 districts and created more than 7 lakh jobs. These startups have recently developed in new domains and sectors of strategic importance, including IT services, hardware technology, software enterprises, artificial intelligence, robotics, and technology in banking and finance, across 56 sectors. As of February 2022, the Ministry of Commerce and Industry had allocated Rs. 2,791.29 crore to SIDBI, which in turn committed Rs. 6,795 crore to 82 Alternative Investment Funds, while Rs. 8,785 crore had been invested by supported Alternative Investment Funds in 574 startups. Rs. 945 crore was allocated under the scheme for a period of four years starting from 2021-22 to fund startups for proof of concept, prototypes, product trials, market entry, and commercialisation. However, sustaining these startups is important for long-term development and employment creation. Continued investment in these sectors, export promotion of startup products, innovation in new sectors, and creation of domestic demand for these products are important for long-term development and for attracting new startups.
Answer: (C) Both self reliance and employment opportunities
Explanation
Which of the following is true in case of startups in India?
Since the Second Five Year Plan, the Government of India has emphasized industrial development and the promotion of self-reliance. At that time, the priority was import substitution and export promotion. Although the same objectives remain relevant, the priorities of industrialisation have changed. Industry helps not only in achieving self-reliance and reducing dependence on foreign countries, but also in creating massive employment in a populous country like India. The Startup India programme began in 2014 to promote new initiatives and industries in critical domains of strategic importance. Recognised startups increased from 726 in FY 2016-17 to 65,861 in FY 2021-22. Startups spread across 640 districts and created more than 7 lakh jobs. These startups have recently developed in new domains and sectors of strategic importance, including IT services, hardware technology, software enterprises, artificial intelligence, robotics, and technology in banking and finance, across 56 sectors. As of February 2022, the Ministry of Commerce and Industry had allocated Rs. 2,791.29 crore to SIDBI, which in turn committed Rs. 6,795 crore to 82 Alternative Investment Funds, while Rs. 8,785 crore had been invested by supported Alternative Investment Funds in 574 startups. Rs. 945 crore was allocated under the scheme for a period of four years starting from 2021-22 to fund startups for proof of concept, prototypes, product trials, market entry, and commercialisation. However, sustaining these startups is important for long-term development and employment creation. Continued investment in these sectors, export promotion of startup products, innovation in new sectors, and creation of domestic demand for these products are important for long-term development and for attracting new startups.
Answer: (D) The recognized sectors have created jobs more than 7 lakhs
Explanation
Which of the following sectors have not developed recently in startups?
Since the Second Five Year Plan, the Government of India has emphasized industrial development and the promotion of self-reliance. At that time, the priority was import substitution and export promotion. Although the same objectives remain relevant, the priorities of industrialisation have changed. Industry helps not only in achieving self-reliance and reducing dependence on foreign countries, but also in creating massive employment in a populous country like India. The Startup India programme began in 2014 to promote new initiatives and industries in critical domains of strategic importance. Recognised startups increased from 726 in FY 2016-17 to 65,861 in FY 2021-22. Startups spread across 640 districts and created more than 7 lakh jobs. These startups have recently developed in new domains and sectors of strategic importance, including IT services, hardware technology, software enterprises, artificial intelligence, robotics, and technology in banking and finance, across 56 sectors. As of February 2022, the Ministry of Commerce and Industry had allocated Rs. 2,791.29 crore to SIDBI, which in turn committed Rs. 6,795 crore to 82 Alternative Investment Funds, while Rs. 8,785 crore had been invested by supported Alternative Investment Funds in 574 startups. Rs. 945 crore was allocated under the scheme for a period of four years starting from 2021-22 to fund startups for proof of concept, prototypes, product trials, market entry, and commercialisation. However, sustaining these startups is important for long-term development and employment creation. Continued investment in these sectors, export promotion of startup products, innovation in new sectors, and creation of domestic demand for these products are important for long-term development and for attracting new startups.
Answer: (D) Space technology
Explanation
How much amount has been allocated under the scheme of startups to fund new startups for proof of concepts, prototype and trials of products, entry of market and commercialization?
Since the Second Five Year Plan, the Government of India has emphasized industrial development and the promotion of self-reliance. At that time, the priority was import substitution and export promotion. Although the same objectives remain relevant, the priorities of industrialisation have changed. Industry helps not only in achieving self-reliance and reducing dependence on foreign countries, but also in creating massive employment in a populous country like India. The Startup India programme began in 2014 to promote new initiatives and industries in critical domains of strategic importance. Recognised startups increased from 726 in FY 2016-17 to 65,861 in FY 2021-22. Startups spread across 640 districts and created more than 7 lakh jobs. These startups have recently developed in new domains and sectors of strategic importance, including IT services, hardware technology, software enterprises, artificial intelligence, robotics, and technology in banking and finance, across 56 sectors. As of February 2022, the Ministry of Commerce and Industry had allocated Rs. 2,791.29 crore to SIDBI, which in turn committed Rs. 6,795 crore to 82 Alternative Investment Funds, while Rs. 8,785 crore had been invested by supported Alternative Investment Funds in 574 startups. Rs. 945 crore was allocated under the scheme for a period of four years starting from 2021-22 to fund startups for proof of concept, prototypes, product trials, market entry, and commercialisation. However, sustaining these startups is important for long-term development and employment creation. Continued investment in these sectors, export promotion of startup products, innovation in new sectors, and creation of domestic demand for these products are important for long-term development and for attracting new startups.
Answer: (C) Rs. 945 crore
Explanation
Which of the following measures is required for sustaining startups?
Since the Second Five Year Plan, the Government of India has emphasized industrial development and the promotion of self-reliance. At that time, the priority was import substitution and export promotion. Although the same objectives remain relevant, the priorities of industrialisation have changed. Industry helps not only in achieving self-reliance and reducing dependence on foreign countries, but also in creating massive employment in a populous country like India. The Startup India programme began in 2014 to promote new initiatives and industries in critical domains of strategic importance. Recognised startups increased from 726 in FY 2016-17 to 65,861 in FY 2021-22. Startups spread across 640 districts and created more than 7 lakh jobs. These startups have recently developed in new domains and sectors of strategic importance, including IT services, hardware technology, software enterprises, artificial intelligence, robotics, and technology in banking and finance, across 56 sectors. As of February 2022, the Ministry of Commerce and Industry had allocated Rs. 2,791.29 crore to SIDBI, which in turn committed Rs. 6,795 crore to 82 Alternative Investment Funds, while Rs. 8,785 crore had been invested by supported Alternative Investment Funds in 574 startups. Rs. 945 crore was allocated under the scheme for a period of four years starting from 2021-22 to fund startups for proof of concept, prototypes, product trials, market entry, and commercialisation. However, sustaining these startups is important for long-term development and employment creation. Continued investment in these sectors, export promotion of startup products, innovation in new sectors, and creation of domestic demand for these products are important for long-term development and for attracting new startups.
Answer: (C) Creation of domestic demands for startups
Explanation
Paper 1 had 50 questions and Paper 2 (Economics) had 100 questions, for 150 in total across 3 hours.
No. Each correct answer earns 2 marks and there is no penalty for a wrong answer, so leaving a question blank is never better than attempting it.
Answers follow the official NTA answer key for this session. If you spot a discrepancy, use the report option inside the practice test and we will review it.
Yes. Every paper on this page has an "Attempt this paper" button that opens the same questions in the timed test interface, with instant scoring and weak-area analysis afterwards.
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