kset.uni-mysore.ac.in Economics Sample Question Paper : University of Mysore

University : University of Mysore
Exam : Karnataka State Eligibility Test (KSET) Center for Lecturership
Document Type : Previous Question Paper
Subject : Economics

Website : http://kset.uni-mysore.ac.in/
Download Model/Sample Question Paper :
Paper – II : https://www.pdfquestion.in/uploads/10313-Economics-%20II.pdf
Paper – III : https://www.pdfquestion.in/uploads/10313-Economics-III.pdf
Answers Key : https://www.pdfquestion.in/uploads/10313-ECONOMICSKEY.pdf

KSET Economics Sample Question Paper :

Sub Code : K-0315
Test Paper : II
Time : 1 Hour 15 Minutes
Maximum Marks : 100

Related : University of Mysore KSET Commerce Sample Question Paper : www.pdfquestion.in/10308.html

1. Product differentiation and selling cost are the distinctive features of
(A) Perfect competition
(B) Monopolistic competition
(C) Monopoly
(D) None of the above

2. Hicksian demand function is also called
(A) Compensated demand function
(B) Expenditure demand function
(C) Consumption demand
(D) None of the above

3. The optimum output of a firm under perfect competition would be at
(A) The increasing part of the average cost curve
(B) The minimum point of average cost curve
(C) The decreasing part of average cost curve
(D) The decreasing part of marginal cost curve

4. The number of oranges that an individual is willing to give up for one more apple is referred to as the
(A) Total utility of oranges
(B) Law of diminishing marginal utility
(C) Marginal rate of substitution of apples for oranges
(D) Marginal rate of substitution of oranges for apples

5. In Walrasian general equilibrium model, all prices and quantities in all markets are determined
(A) Independently
(B) Simultaneously
(C) One after another
(D) Separately

6. The dynamic theory of profit by J.B. Clark says
(A) Profit is due to expectations under conditions of uncertainty
(B) Profit is because of the risk of entrepreneur
(C) Profit is the result of innovation
(D) Profit is the difference between price and cost of production

7. Consider the following statements and select the right answer from the code given below
Assertion (A) : Business cycles are caused by variations in the rate of investment .
Reasoning (R) : Fluctuations in the marginal efficiency of capital lead to changes in investment.
(A) Both A and R are correct and R is the reason
(B) Both A and R are incorrect
(C) Both A and R are correct, but R is not the reason
(D) Only A is true and R is not the reason

8. Reduction in private investment consequent upon an increase in public investment is
(A) Public investment effect
(B) Crowding out effect
(C) Distribution effect
(D) Allocation effect

10. If the marginal propensity to consume for the economy is 0.8,
(A) Multiplier is 1.25
(B) Multiplier is 5.0
(C) Multiplier is undefined
(D) Marginal propensity to save is 0.4

11. High powered money is
(A) The entire commercial bank reserves
(B) Total commercial bank reserves and currency held by public
(C) Credit at interest rate
(D) Currency held by the public

12. Milton Friedman’s quantity theory of money consists of
(A) Bonds
(B) Equities
(C) Human capital
(D) All the above

13. HDI is not composed of
(A) Longevity
(B) Human freedom
(C) Literacy
(D) Level of income

14. The concept of “Reserve Army” is found in
(A) Classical analysis
(B) Hicksian analysis
(C) Schumpeterian analysis
(D) Marxian analysis

15. Employment elasticity in Indian agriculture in recent years is
(A) Increasing
(B) Decreasing
(C) Constant
(D) Trend is not clear

16. The benefits of the goods which spread beyond immediate recipient are known as
(A) Non-merit goods
(B) Merit goods
(C) Free goods
(D) Club goods

17. Which Article of the Constitution of India provides for Contingency Fund ?
(A) Article 267 (B) Article 268
(C) Article 280 (D) Article 299

18. Chairman of 13th Finance Commission
(A) C. Rangarajan
(B) Bimal Jalan
(C) Shanker Acharya
(D) Vijay Kelkar

19. Supply side tax policy is associated with the name of
(A) Robert Lucas
(B) Aurther Laffer
(C) Stanley Fisher
(D) A.W. Phillips

20. Tax structure is progressive if
(A) The average tax rate increases as the level of taxable income increases
(B) The average tax rate decreases as the level of taxable income increases
(C) The average tax rate remains constant as the level of taxable income increases
(D) None of the above