CUET Economics 2023 Slot 6 Past Year Paper with Solutions

Q1:

Indian Economic Development

>

Economic Reforms (1991)

Easy

Which of the following was not an industrial reform policy introduced in India in and after 1991?

Many goods produced by small-scale industries have been dereserved

The only industries reserved for public sector is a part of atomic energy generation and some core activities in railway transport

Industrial licencing for private sector industries

In most industries the market has ben allowed to determine the prices

Correct Answer

Option 3

Correct Answer

Explanation

Q2:

Indian Economic Development

>

Rural Development

Easy

How can morbidity be prevented?

A. Ensuring safe drinking water

B. Taking good education

C. Healthy and nutrative food

D. By employment generation

E. Sanitation

Choose the correct answer from the options given below:

B, C, E only

A, D, E only

A, C, E only

C, D, E only

Correct Answer

Option 3

Correct Answer

Explanation

Q3:

Indian Economic Development

>

Development Experience (1947-90)

Medium

Arrange the following in sequence in order of their formation.

A. Green Revolution

B. First Industrial Policy Resolution

C. Karve committee

D. Planning Commission

Choose the correct answer from the options given below:

B, D, A, C

B, D, C, A

A, B, C, D

B, C, A, D

Correct Answer

Option 2

Correct Answer

Explanation

Q4:

Micro

>

Consumer Behaviour

Medium

Arrange the following of elasticities of demand in increasing order as per geometric method.

A. Mid-Point of the demand curve

B. Intercept on Y-axis

C. Between Mid-Point and intercept on X-axis

D. Between Mid-Point and intercept on Y-axis

E. Intercept on X-axis

Choose the correct answer from the options given below:

A, B, C, D, E

D, B, A, E, C

B, D, A, C, E

E, C, A, D, B

Correct Answer

Option 4

Correct Answer

Explanation

Q5:

Macro

>

Money & Banking

Medium

When Central Bank buys securities, this agreement of purchase also has specification about date and price of the resale, it is called:

Output open market operation

Repo open market operation

Coin reserve ratio

Reverse Repo Rate

Correct Answer

Option 2

Correct Answer

Explanation

Q6:

Macro

>

Government Budget

Medium

The Government Budget has a revenue deficit this can be financed by : ___________ .

A. Borrowings

B. Tax Revenue

C. Disinvestment

D. Indirect taxes

Choose the correct answer from the options given below:

A and B only

D and C only

A and C only

B and D only

Correct Answer

Option 3

Correct Answer

Explanation

Q7:

Macro

>

Money & Banking

Medium

When Central Bank buys securities without any promise to sell them later, it is known as?

Repo open market operation

Output open market operation

Margin Requirement

Reverse repo rate

Correct Answer

Option 2

Correct Answer

Explanation

Q8:

Macro

>

Government Budget

Medium

Match List I with List II

LIST I	LIST II
A. Revenue Receipt	I. Increase in Liability
B. Capital Receipt	II. Do not increase in Asset
C. Revenue Expenditure	III. Increase in Asset
D. Capital Expenditure	IV. Do not increase Liability

Choose the correct answer from the options given below:

A-I, B-III, C-II, D-IV

A-IV, B-I, C-II, D-III

A-II, B-III, C-IV, D-I

A-I, B-IV, C-II, D-III

Correct Answer

Option 2

Correct Answer

Explanation

Q9:

Macro

>

Balance of Payments

Medium

Match List I with List II

LIST I	LIST II
A. Accommodating items	I. International purchases
B. Capital Account	II. Central Bank
C. Balance of trade	III. Below the line items
D. Dirty Floating	IV. Visible items

Choose the correct answer from the options given below:

A-III, B-I, C-IV, D-II

A-I, B-II, C-III, D-IV

A-III, B-IV, C-II, D-I

A-IV, B-II, C-I, D-III

Correct Answer

Option 1

Correct Answer

Explanation

Q10:

Indian Economic Development

>

Development Experience (1947-90)

Medium

Arrange the following events relating to India in the correct time line sequence.

A. First 'Industrial Policy Resolution'

B. "Modern Bread", a bread manufacturing firm sold to private sector

C. First phase of green revolution

D. Setting up of planning commission

Choose the correct answer from the options given below:

D, A, C, B

A, D, C, B

D, A, B, C

A, C, B, D

Correct Answer

Option 2

Correct Answer

Explanation

Q11:

Indian Economic Development

>

Employment

Medium

Match List I with List II

LIST I	LIST II
A. Pradhan Mantri Jan-Dhan Yojana	I. Elderly people given pension by Central Government
B. Swarna Jayanti Shahari Rozgar Yojana	II. Self-Employment opportunities in urban areas.
C. National Social Assistance Programme	III. Urban poor
D. National Urban Livelihood Mission	IV. Encouraged to open Bank Account

Choose the correct answer from the options given below:

A-I, B-III, C-II, D-IV

A-IV, B-III, C-II, D-I

A-IV, B-II, C-I, D-III

A-I, B-II, C-III, D-IV

Correct Answer

Option 3

Correct Answer

Explanation

Q12:

Indian Economic Development

>

Development Experience (1947-90)

Medium

Arrange the following in sequence in the events of happening.

A. First census in India

B. The Tata Iron steel company

C. The opening of Suez canal

D. Railways in India

Choose the correct answer from the options given below:

A, C, D, B

D, C, B, A

D, C, A, B

C, D, A, B

Correct Answer

Option 3

Correct Answer

Explanation

Q13:

Micro

>

Introduction

Easy

Which of the main factor is responsible to create economic problems in society?

Resources are costly

Unlimited wants and surplus resources

Unlimited wants and scare resources

High density of population

Correct Answer

Option 3

Correct Answer

Explanation

Q14:

Macro

>

National Income

Hard

Calculate operating surplus from the following.

		(Rs in Cr)
a	Rent & Interest	50
b	Bonus	80
c	Profit After Tax	30
d	Tax rate	40%

Choose the correct option.

Rs.110 Cr

Rs.130 Cr

Rs.80 Cr

Rs.100 Cr

Correct Answer

Option 4

Correct Answer

Explanation

Q15:

Macro

>

Money & Banking

Easy

Given a Cash Reserve Ratio (CRR) being 20%, the value of the money multiplier will be_______.

3

20

10

5

Correct Answer

Option 4

Correct Answer

Explanation

Q16:

Macro

>

Government Budget

Easy

Choose the correct example of Revenue Expenditure.

Excise duty

Post office savings Accounts

Payment of salary to staff of government hospital

Recovery of loans

Correct Answer

Option 3

Correct Answer

Explanation

Q17:

Macro

>

Money & Banking

Medium

Arrange the sequence of events in the correct order relating to a quantitative tool used by the central bank during the times of inflation.

A. Hence the money supply in the economy decreases

B. As a result, loans taken by commercial banks become more expensive

C. The central bank increases the bank rate

D. This reduces the reserves held by the commercial banks

Choose the correct answer from the options given below:

B, C, A, D

C, B, D, A

A, B, C, D

D, B, A, C

Correct Answer

Option 2

Correct Answer

Explanation

Q18:

Macro

>

National Income

Medium

Match List I with List II

LIST I	LIST II
A. Stocks	I. Expected constant loss in value of a capital
B. Flows	II. Unexpected destruction of capital
C. Depreciation	III. Have time dimension
D. Capital loss	IV. Do not have any time dimension

Choose the correct answer from the options given below:

A-I, B-II, C-III, D-IV

A-IV, B-III, C-I, D-II

A-III, B-IV, C-II, D-I

A-IV, B-III, C-II, D-I

Correct Answer

Option 2

Correct Answer

Explanation

Q19:

Indian Economic Development

>

Development Experience of India

Hard

Arrange the following events in a sequence of its happening.

A. Reforms in Pakistan

B. Great Proletarian Cultural Revolution

C. Commune system

D. Pakistan's First Five year plan

E. China's Twelfth Five Year Plan

Choose the correct answer from the options given below:

C, D, B, A, E

C, D, A, B, E

E, B, A, C, D

A, D, C, B, E

Correct Answer

Option 1

Correct Answer

Explanation

Q20:

Indian Economic Development

>

Employment

Easy

Formal sector establishment are those establishment that employs ?

20 hired workers or more

20 hired workers or less

10 hired workers or more

10 hired workers or less

Correct Answer

Option 3

Correct Answer

Explanation

Q21:

Indian Economic Development

>

Employment

Medium

Which of the following are operating in the informal sector of the country?

A. Cycle-rickshaw puller

B. Civil engineer in a government construction enterprises

C. Cook in a hostel which employs nine hired workers

D. Private school teacher in a school which has eleven hired teachers.

E. Farmer cultivating his plot of land

Choose the correct answer from the options given below:

B, and C only

A and D only

A, B and D only

A, C and E only

Correct Answer

Option 4

Correct Answer

Explanation

Q22:

Micro

>

Introduction

Easy

Which of the following is not a central problem of an economy?

What to produce more ?

How much of which resource to be used ?

How to increase resources ?

Distribution of final produce among the individuals.

Correct Answer

Option 3

Correct Answer

Explanation

Q23:

Macro

>

National Income

Hard

Calculate the factor income from Abroad from the following.

		(Rs in core)
(a)	NNP at market price	550
(b)	Net Indirect taxes	30
(c)	NVA at factor cost	540
(d)	Factor income to Abroad	50

Rs.70 Crore

Rs.90 Crore

Rs.30 Crore

Rs.50 Crore

Correct Answer

Option 3

Correct Answer

Explanation

Q24:

Macro

>

Money & Banking

Medium

A fall in Bank rate can increase the ________ .

Money supply

Liability

G.D.P

Reverse Repo Rate

Correct Answer

Option 1

Correct Answer

Explanation

Q25:

Macro

>

National Income

Medium

Identify the correct formula of calculating of domestic income by Expenditure Method.

$GDP_{MP} = PFCE + GFCE + NDCF - NE$

$GDP_{MP} = PFCE - GFCE + GDCF - NE$

$GDP_{MP} = PFCE + GFCE + GDCF + NE$

$GDP_{MP} = PFCE - GFCE - NDCF + NE$

Correct Answer

Option 3

Correct Answer

Explanation

Q26:

Macro

>

Money & Banking

Medium

Which of the following is not true about a commercial Bank?

Assets = Reserves + Loans

Net worth = Assets -Liabilities

Liabilities = Loans

Deposits = Assets - Net worth

Correct Answer

Option 3

Correct Answer

Explanation

Q27:

Macro

>

Balance of Payments

Easy

Flexible exchange rate is determined by:

RBI

Govt

Market forces

IMF

Correct Answer

Option 3

Correct Answer

Explanation

Q28:

Indian Economic Development

>

Development Experience (1947-90)

Easy

Match List I with List II

LIST I	LIST II
A. Self-reliance	I. Increase in Production
B. Modernisation	II. Avoiding imports
C. Growth	III. Benefits to rich and poor
D. Equity	IV. Adopting new technology

Choose the correct answer from the options given below:

A-I, B-II, C-III, D-IV

A-IV, B-III, C-II, D-I

A-II, B-IV, C-I, D-III

A-III, B-I, C-II, D-IV

Correct Answer

Option 3

Correct Answer

Explanation

Q29:

Indian Economic Development

>

Employment

Easy

Those group who regularly moves in and out of poverty are known as_______.

Churning poor

Chronic poor

Occasionally poor

Never poor

Correct Answer

Option 1

Correct Answer

Explanation

Q30:

Macro

>

Balance of Payments

Easy

Full form of IBRD

Indian Bank for Reconstruction

Indian Bank for Rural Development

International Bank for Rural Development

International Bank for Reconstruction and Development

Correct Answer

Option 4

Correct Answer

Explanation

Q31:

Micro

>

Introduction

Easy

Which of the following is studied under micro economics?

National Income of a country

Condition of unemployment

Textile industry

Revenue deficit of the country

Correct Answer

Option 3

Correct Answer

Explanation

Q32:

Macro

>

National Income

Hard

Calculate compensation of employees from the following items:

Items	Rs in Crores
Profit after tax	20
Interest	45
$GDP_{MP}$	200
Goods and service tax	10
Depreciation	50
Rent	25
Corporate tax	5

Choose the correct option.

45 Cores

42 Cores

50 Cores

44 Cores

Correct Answer

Option 1

Correct Answer

Explanation

Q33:

Micro

>

Introduction

Easy

Which statement is not related to Normative Economics?

It prescribes norms of welfare of the society

It regulates in order to achieve idealised norms

It explains ideal situation and gives policy prescriptions explicitly

It explains actual behavior of economic agents

Correct Answer

Option 4

Correct Answer

Explanation

Q34:

Macro

>

Government Budget

Medium

Which of the following are to be considered while Measuring Fiscal Deficit?

A. Capital expenditure

B. Revenue receipts

C. Debt creating receipts

D. Revenue expenditure

E. Deficit on current A/c

Choose the correct answer from the options given below:

A, B and C only

A, B and D only

A, B and E only

A, D and E only

Correct Answer

Option 2

Correct Answer

Explanation

Q35:

Macro

>

Government Budget

Medium

Which of the following is not true about Public goods?

Benefit are available to all

May be produced by private sector

Benefit not exclude anyone from enjoying the benefits

Available free to users

Correct Answer

Option 4

Correct Answer

Explanation

Q36:

Macro

>

Balance of Payments

Easy

Exchange Rate is the price of a currency expressed in terms of.

Gold rates of other country

Another currency

Income of the country

FDI from other country

Correct Answer

Option 2

Correct Answer

Explanation

Q37:

Macro

>

Balance of Payments

Easy

The International Bank for Reconstruction and Development (IBRD) is popularly known as_______.

State Bank of India

Reserve Bank Of India

World Bank

International Monetary Fund

Correct Answer

Option 3

Correct Answer

Explanation

Q38:

Indian Economic Development

>

Human Capital Formation

Medium

"Human Resource Development was necessarily to be assigned a key role in any development strategy, particularly in a country with a large population" which of the following five year plane states?

5th Five year plan

6th Five year plan

7th Five year plan

8th Five year plan

Correct Answer

Option 3

Correct Answer

Explanation

Q39:

Indian Economic Development

>

Economic Reforms (1991)

Easy

Full form of FII.

Foreign Indirect Investment

Foreign International Income

Foreign Indirect Investors

Foreign Institutional Investors

Correct Answer

Option 4

Correct Answer

Explanation

Q40:

Indian Economic Development

>

Human Capital Formation

Medium

Which of the following statements relate to physical capital?

A. It is intangible

B. It is tangible

C. It creates only private benefit

D. Owner of physical capital needs to be present at the place where it is used

E. It can easily be sold in the market

Choose the correct answer from the options given below:

A and B only

B and C only

A, D and E only

B, C and E only

Correct Answer

Option 4

Correct Answer

Explanation

Q41:

Micro

>

Consumer Behaviour

Easy

The quantity of a good that the consumer chooses can increase or decrease with the rise in the price of a related goods depending on whether the two goods are substitutes or complementary to each other. Goods which are consumed together are called complementary goods. Examples of goods which are complement to each other include tea and sugar, shoes and socks, pen and ink, etc. Since tea and sugar are used together, an increase in the price of sugar is likely to decrease the demand for tea and decrease in the price of sugar is likely to increase the demand for tea. Similar is the case with other complements. In general, the demand for a good moves in the opposite direction of the price of its complementary goods.

The goods which can be used in place of each other are called ?

Normal goods

Complementary goods

Substitute goods

Giffen goods

Correct Answer

Option 3

Correct Answer

Explanation

Q42:

Micro

>

Consumer Behaviour

Easy

The quantity of a good that the consumer chooses can increase or decrease with the rise in the price of a related goods depending on whether the two goods are substitutes or complementary to each other. Goods which are consumed together are called complementary goods. Examples of goods which are complement to each other include tea and sugar, shoes and socks, pen and ink, etc. Since tea and sugar are used together, an increase in the price of sugar is likely to decrease the demand for tea and decrease in the price of sugar is likely to increase the demand for tea. Similar is the case with other complements. In general, the demand for a good moves in the opposite direction of the price of its complementary goods.

The demand for a good moves in opposite direction if change in the price of its __________ :

Complementary goods

Substitute goods

Inferior goods

Consumption goods

Correct Answer

Option 1

Correct Answer

Explanation

Q43:

Micro

>

Consumer Behaviour

Easy

The quantity of a good that the consumer chooses can increase or decrease with the rise in the price of a related goods depending on whether the two goods are substitutes or complementary to each other. Goods which are consumed together are called complementary goods. Examples of goods which are complement to each other include tea and sugar, shoes and socks, pen and ink, etc. Since tea and sugar are used together, an increase in the price of sugar is likely to decrease the demand for tea and decrease in the price of sugar is likely to increase the demand for tea. Similar is the case with other complements. In general, the demand for a good moves in the opposite direction of the price of its complementary goods.

If the price of coffee increases then consumption of tea also increases it implies that tea and coffee are __________ .

Substitute good

Giffen good

Complementary good

Perishable good

Correct Answer

Option 1

Correct Answer

Explanation

Q44:

Micro

>

Consumer Behaviour

Easy

The quantity of a good that the consumer chooses can increase or decrease with the rise in the price of a related goods depending on whether the two goods are substitutes or complementary to each other. Goods which are consumed together are called complementary goods. Examples of goods which are complement to each other include tea and sugar, shoes and socks, pen and ink, etc. Since tea and sugar are used together, an increase in the price of sugar is likely to decrease the demand for tea and decrease in the price of sugar is likely to increase the demand for tea. Similar is the case with other complements. In general, the demand for a good moves in the opposite direction of the price of its complementary goods.

Car and petrol are the example of _________ goods .

Normal goods

Inferior goods

Substitute goods

Complementary goods

Correct Answer

Option 4

Correct Answer

Explanation

Q45:

Micro

>

Consumer Behaviour

Easy

The quantity of a good that the consumer chooses can increase or decrease with the rise in the price of a related goods depending on whether the two goods are substitutes or complementary to each other. Goods which are consumed together are called complementary goods. Examples of goods which are complement to each other include tea and sugar, shoes and socks, pen and ink, etc. Since tea and sugar are used together, an increase in the price of sugar is likely to decrease the demand for tea and decrease in the price of sugar is likely to increase the demand for tea. Similar is the case with other complements. In general, the demand for a good moves in the opposite direction of the price of its complementary goods.

Those goods which can be used together are called _______ goods .

Substitute goods

Complementary goods

Consumption goods

Capital goods

Correct Answer

Option 2

Correct Answer

Explanation

Q46:

Macro

>

Income & Employment

Easy

When at a particular price level, aggregate demand for final goods equals aggregate supply of final goods, the final goods or product in market reaches its equilibrium. Aggregate demand for final goods consist of ex-ante consumption, ex-ante investment, government spending etc. The rate of increase in ex-ante consumption due to a unit increase in income is called marginal propensity to consume.

Equilibrium in product market achieved when.

AD = AS

AD > AS

AD < AS

S > I

Correct Answer

Option 1

Correct Answer

Explanation

Q47:

Macro

>

National Income

Easy

When at a particular price level, aggregate demand for final goods equals aggregate supply of final goods, the final goods or product in market reaches its equilibrium. Aggregate demand for final goods consist of ex-ante consumption, ex-ante investment, government spending etc. The rate of increase in ex-ante consumption due to a unit increase in income is called marginal propensity to consume.

Final goods are those goods.

Which are used in the process of production

Which are used as an intermediate good

Which are purchased for the purpose of reselling in the same year

Which are either used for consumption or for investment

Correct Answer

Option 4

Correct Answer

Explanation

Q48:

Macro

>

Income & Employment

Easy

When at a particular price level, aggregate demand for final goods equals aggregate supply of final goods, the final goods or product in market reaches its equilibrium. Aggregate demand for final goods consist of ex-ante consumption, ex-ante investment, government spending etc. The rate of increase in ex-ante consumption due to a unit increase in income is called marginal propensity to consume.

Aggregate demand for final goods doesn't include.

Consumption

Saving

Investment

Government spendings

Correct Answer

Option 2

Correct Answer

Explanation

Q49:

Macro

>

Income & Employment

Easy

When at a particular price level, aggregate demand for final goods equals aggregate supply of final goods, the final goods or product in market reaches its equilibrium. Aggregate demand for final goods consist of ex-ante consumption, ex-ante investment, government spending etc. The rate of increase in ex-ante consumption due to a unit increase in income is called marginal propensity to consume.

MPC stands for.

Marginal Propensity to Converse

Marginal Propensity to Consume

Marginal Propensity to Compensate

Marginal Propensity to correction

Correct Answer

Option 2

Correct Answer

Explanation

Q50:

Macro

>

Income & Employment

Easy

When at a particular price level, aggregate demand for final goods equals aggregate supply of final goods, the final goods or product in market reaches its equilibrium. Aggregate demand for final goods consist of ex-ante consumption, ex-ante investment, government spending etc. The rate of increase in ex-ante consumption due to a unit increase in income is called marginal propensity to consume.

The sum total of MPC and MPS is always equal to:

Zero

Infinity

One

Two

Correct Answer

Option 3

Correct Answer

Explanation

CUET Economics 2023 PYQs20 June Shift 1. Free, no login required.

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CUET Economics 2023 20 June Shift 1 Past Year Question Paper

CUET Economics Past Year Questions (Topic-Wise)