CUET Economics 2025 PYQs14 May Shift 1. Free, no login required.

Match List-I with List-II

Choose the correct answer from the options given below: |

Choose the correct statements:

(A) Intermediate goods are used as raw materials or inputs for production of other commodities.

(B) Consumer goods are consumed when purchased by their ultimate consumers.

(C) Intermediate goods crossed production process boundary.

(D) Capital goods have a durable character which are used in the production process.

Arrange the following in correct sequence to attain equilibrium under perfect competition.

(A) LRMC start rising.

(B) Both LRAC and LRMC fall.

(C) Both LRAC and LRMC rises.

(D) LRMC cuts LRAC from below.

Any allocation of resources by the society would result in the _____ of a particular combination of different goods and services.

Calculate the value of operating surplus from following:

Wages and Salaries Rs 2,000

Rent Rs 1,000

Interest Rs 500

Employers contribution in social security scheme Rs 200

Royalty Rs 300

Profits Rs 200

If the current exchange rate is Rs. 80 to a pound and investors believe that the pound is going to appreciate by the end of the month and will be worth Rs.85, investors think if they gave the dealer Rs. 80,000 and bought 1000 pounds, at the end of the month, they would be able to exchange the pounds for Rs. 85,000, thus making a profit of ......

Who wrote the book "The Economic Consequences of the Peace"?

1. John Maynard Keynes
2. Adam Smith
3. J. S. Mill.
4. Alfred Marshall

Which of the following indicates the sum total of Net National Product at market prices and other current transfers from the rest of the world:

1. Private Income.
2. National Disposable Income.
3. Gross Value Added.
4. Transferred Income.

What causes an indifference curve to be convex to the origin?

1. Marginal utility
2. Market Rate of Exchange
3. Law of Diminishing Marginal Rate of Substitution
4. Law of Increasing Marginal Rate of Substitution

The allocation of scarce resources and the distribution of the final goods and services are the _____ of any economy.

Match List-I with List-II

Choose the correct answer from the options given below:

The 'Ricardian equivalence' view argued that in the face of high deficits, people save more. It is called 'equivalence' because it argues that taxation and borrowing are equivalent means of ...........

1. Financing expenditure
2. Financing borrowing
3. Financing Taxation
4. Financing deficit

The domestic services performed by women at home are categorized as:

1. Non-monetary exchanges
2. Externalities
3. Personal services
4. Social services

Which of the following are called 'above the line' in the balance of payments?

1. International Transactions
2. Errors and Omissions
3. Accommodating Transactions
4. Autonomous Transactions

Identify the correct statements with regard to the consumer's budget line/set.

(A) A decrease in the price of goods makes the budget line steeper

(B) A decrease in the price of goods makes the budget line flatter

(C) An increase in the price of goods makes the budget line steeper

(D) All bundles in the positive quadrant which are on or below the line are included in the budget set.

Prices of a given basket of commodities which are bought by the representative consumer is indicated by which of the following?

1. Wholesale Price Index
2. Consumer Price Index
3. Market price
4. Commodity Price

There are two firms in an economy. Firm A gives Rs. 20 to the workers as wages, and keeps the remaining 30 as its profits. Similarly, firm B gives 60 as wages and keeps 90 as profits. Calculate GDP?

1. Rs. 200
2. Rs. 120
3. Rs. 50
4. Rs. 150

NNP at market prices – (Indirect taxes – Subsidies) = .............

In the perfectly competitive market, if 10 packets of bread are sold at the price of Rs. 25 per packet, what will be the total revenue of a bread manufacturer?

1. Rs. 25
2. Rs. 250
3. Rs. 0.4
4. Rs. 2.5

Match List-I with List-II

Choose the correct answer from the options given below:

Arrange the following statements related to the change in demand for normal good.

(A) The consumer's income, increases.

(B) Given the prices of other goods and the preferences of the consumer,

(C) The demand curve shifts rightward.

(D) The demand for the normal good at given price changes.

Identify the options which reflect the impact of simultaneous shifts of demand and supply on equilibrium

(A) When demand shift right and supply left, quantity may increase, decrease or remain unchanged but price decreases

(B) When demand and supply shift leftward, quantity decreases but price may increase, decrease or remain unchanged

(C) When demand and supply shift rightward, quantity increases but price may increase, decrease or remain unchanged

(D) When demand shift left and supply right, quantity may increases, decreases or remain unchanged but price decreases

Match List-I with List-II

Choose the correct answer from the options given below:

Under perfect competition if firms earn supernormal profits. Arrange following statements to arrive at the implication of free entry and exit of firms

(A) Market price fall in such a manner that firms will be earning normal profits only and thus no more firms will have incentive to enter the market.

(B) Some new firms will enter the market

(C) At the prevailing market price, each firm is earning supernormal profit.

(D) Demand remains unchanged but the market supply curve shifts rightward

Match List-I with List-II

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Arrange the following statements related to negative externalities in correct sequence

(A) There is an oil refinery which refines crude petroleum and sells it in the market

(B) Pollution harms well-being and also kills fish or other organisms

(C) Production the refinery may also be polluting the nearby river

(D) Such harmful effects that the refinery is inflicting on others, for which it will not bear any cost, are called externalities

Identify, where the point will lie in the production possibility frontier when the resources are either underemployed or are utilized in a wasteful manner?

Identify the concept which should be deducted from the value of gross investment in order to accommodate regular wear and tear of capital goods.

1. Investment.
2. Capital
3. Depreciation
4. Consumption goods

What are the main sources of demand in a closed economy?

1. Consumption, government spending, and domestic investment
2. Consumption, net exports and government spending
3. Consumption, government spending, domestic investment and net exports
4. Government spending, net exports and domestic investment

The intervention of the government, whether to expand demand or reduce it, constitutes the ............... function.

1. Public production
2. Allocation
3. Redistribution
4. Stabilisation

In order to arrive Gross Primary Deficit what should be deducted from Gross Fiscal deficit?

1. Borrowing from abroad
2. Net factor income from abroad
3. Net Interest liabilities.
4. Transfers payments

With regard to price elasticity, in general, demand for a luxury good is likely to be ........

1. Inelastic
2. Unitary elastic
3. Perfectly Inelastic
4. Elastic

Which of the following statements are true with regard to the production?

(A) In the short run, at least one of the factors of production remains fixed.

(B) In the long run, all factors of production can be varied.

(C) A period can be defined as long run or short run simply by looking at whether all the inputs can be varied or not.

(D) In the long run, factors of production can be classified into fixed and variable

Arrange the following steps in sequence for estimating GNPMP in a particular year through the income method.

(A) Adding consumption of fixed capital and Net Indirect Taxes.

(B) Classify the economy into primary, secondary and tertiary sectors.

(C) Estimation of Factor income within domestic territory.

(D) Adding Net factor income from abroad.

The unsold finished goods, or semi-finished goods, or raw materials which a firm carries from one year to the next is a .....?

1. Flow and stock variable
2. Flow variable
3. Stock variable
4. Constant variable

Suppose a consumer purchase 15 bananas when its price is Rs. 5 per banana. When the price increases to Rs. 7 per banana, consumer reduces his demand to 12 bananas. Price elasticity of demand would be...........

1. 0.5
2. 0.6
3. 0.4
4. 0.7

The excess of Government's Revenue Expenditure over Revenue Receipts is called...............

1. Revenue Deficit
2. Fiscal Deficit
3. Monetary Deficit
4. Primary Deficit

Choose the correct statements from the following.

(A) Capital goods are those goods which are bought not for meeting immediate need of the consumer but for producing other goods.

(B) Households refer to the families or individuals who supply factors of production to the firms and which buy the goods and services from the firms

(C) Consumer Price Index is the index of prices of a given basket of commodity which are bought by the representative consumer

(D) Wholesale Price Index refers to the percentage change in the weighted average price level.

The priorities of the government in the fiscal area, examining current policies and justifying any deviation in important fiscal measures, are set under ..........statement.

1. Medium-term Fiscal Policy
2. The Fiscal Policy Strategy
3. The Macroeconomic Framework
4. Fiscal Responsibility and Budget Management Act

Which of the following is not an example of Net Invisible items?

1. Banking
2. Shipping
3. Machinery
4. Tourism