CUET Economics 2025 22 May Shift 1 PYQs

Arrange the following statement considering the effects on total income and output when the government purchases (G) increase keeping taxes constant. (A). Planned aggregate expenditure will increase. (B). When G exceeds T, the government runs a deficit. (C). Equilibrium income will increase. (D). Aggregate demand schedule shifts rightward. Choose the correct answer from the options given below:

Which of the following statements are true for the Indifference Curve? (A). A higher indifference curve gives a greater level of utility. (B). The indifference curve slopes downwards from right to left. (C). The indifference curve slopes downwards from left to right. (D). Two indifference curves never intersect each other. Choose the correct answer from the options given below:

......... is an economy in which there is both the private sector and the government.

International economic transactions are called ....... when transactions are made due to some reason other than to bridge the gap in the balance of payments, that is when they are independent of the state of balance of payments.

Which of the following statements are true in macroeconomics? (A). GVA at factor costs + Net production taxes = GVA at basic prices. (B). GVA at basic prices + Net product taxes = GVA at market prices. (C). GNP ≡ GDP - Net factor income from abroad. (D). NNP ≡ GNP – Depreciation. Choose the correct answer from the options given below:

Steel sheets are used for making automobiles and copper used for making utensils, what type of goods are these (Steel and Copper)?

......... is the situation where the equilibrium level of output is less than the full employment of output.

The price elasticity of demand is different at different points on the linear demand curve. Arrange the elasticity point on a downward sloping (left to right) demand curve. (A). |ed| < 0 (B). |ed| = 1 (C). |ed| > 1 (D). |ed| < 1 Choose the correct answer from the options given below:

Economic exchanges without the mediation of money are referred to as ...........

When more workers are hired, the land begins to get 'crowded'. Each worker now has insufficient land to work efficiently. So the output added by each additional worker is now proportionally less as a result the marginal product begins to __________.

For example, there is an increase in international travel by Indians. What will be the effect on the domestic currency? (A). Demand curve shifts upward and right to the original demand curve. (B). Demand for foreign goods and services increases. (C). Depreciation of domestic currency (rupees) in terms of foreign currency (dollars). (D). The value of rupees in terms of dollars has fallen and value of dollar in terms of rupees has risen. Choose the correct answer from the options given below:

The set of all possible combinations of the two inputs, labour and capital, that yield the same maximum possible level of output is called...........

The curve gives the maximum amount of corn that can be produced in the economy for any given amount of cotton and vice versa. This curve is called.........

When labor changes from 3 to 4, the total product changes from 24 to 40, calculate the marginal product.

The RBI can influence money supply by changing the rate at which it gives long-term loans to commercial banks. This rate is called the...

Identify from the following, the three functions that operate through the expenditure and receipts of the government are ......

Match List-I with List-II | List-I | List-II | |---|---| | (A). Gross Domestic Product at Market Prices (GDPMP) | (I). C + I + G + (X - M) | | (B). Gross Domestic Product at Factor Cost (GDPFC) | (II). GDPMP - Depreciation | | (C). Net Domestic Product at Market Prices (NDPMP) | (III). GDPMP - Net Product Taxes | | (D). Net Domestic Product at Factor Cost (NDPFC) | (IV). NDPMP - Net Product Taxes - Net Production Taxes | Choose the correct answer from the options given below:

In the long run, average cost must be rising as the firm increases output as long as the.......... operates.

The price of a commodity increases by 10%, its demand drops by 12%. What is the nature of price elasticity of demand?

Match List-I with List-II | List-I | List-II | |---|---| | (A). Marginal propensity to consume (MPC) | (I). C/ Y | | (B). Consumption function | (II). C + I | | (C). Average propensity to consume (APC) | (III). ΔC/ ΔY | | (D). Aggregate Demand | (IV). C = c + cY | Choose the correct answer from the options given below:

Perfect information implies that all buyers and all sellers are completely informed about the price, quality and other relevant details about the product, as well as the market. These features result in the single most distinguishing characteristic of perfect competition, that is...

Budgetary deficits must be financed by either taxation, borrowing or printing money. Governments have mostly relied on borrowing, giving rise to......

In the short run and long run, the shapes of the cost curves for a typical firm are defined as (A). SMC curve cuts the AVC curve from below at its minimum point. (B). LRAC curve cuts the LRMC curve from below at the minimum point of LRMC. (C). SMC curve cuts the SAC curve from below at the minimum point of SAC. (D). Average fixed cost curve is downward sloping. Choose the correct answer from the options given below:

The scarcity of resources in the economy gives rise to the problem of............

Arrange a statement of market equilibrium when the demand curve shifts leftward: (A). The shift indicates that at any price the quantity demanded is less than before. (B). Some firms will reduce the price of their commodity so that they can sell their desired quantity. (C). Excess supply will arise. (D). At the new equilibrium, quantity and price will be less than before. Choose the correct answer from the options given below:

Which of the following statements are true: (A) Average propensity to consume is the change in consumption per unit to change in income. (B) Ex-ante depicts what has been planned. (C) Ceteris paribus means 'other things remain equal'. (D) Ex-post depicts what has actually happened. Choose the correct answer from the options given below:

The change in output per unit of change in the input when all other inputs are held constant, is termed as __________.

In long run as long as average cost is falling, marginal cost must be less than the .......

Match List-I with List-II | List-I | List-II | |---|---| | (A). The level of utility can be expressed in numbers. | (I). Total Utility | | (B). The change in total utility due to consumption of one additional unit of a commodity. | (II). Ordinal Utility | | (C). The total satisfaction derived from consuming the given amount of some commodity. | (III). Cardinal Utility | | (D). The level of utility can be expressed in ranks. | (IV). Marginal Utility | Choose the correct answer from the options given below:

A firm produce $q$ amount of output using $x₁$ amount of factor 1 and $x₂$ amount of factor 2. Match List-I with List-II | List-I | List-II | |--------|---------| | (A). Cobb-Douglas Production Function | (I). $f(tx_1, tx_2) > t \cdot f(x_1, x_2)$ | | (B). Constant returns to scale | (II). $f(tx_1, tx_2) < t \cdot f(x_1, x_2)$ | | (C). Increasing returns to scale | (III). $q = x_1^\alpha x_2^\beta$ | | (D). Decreasing returns to scale | (IV). $f(tx_1, tx_2) = t \cdot f(x_1, x_2)$ | Choose the correct answer from the options given below:

If there is a positive level of output at which a firm's profit is maximized in the short run, that condition must not hold at that output level:

Exchange rate determined by the market forces of demand and supply is also known as...

Which of the following factor makes the demand curve to shifts leftward for a normal goods?

Match List-I with List-II | List-I | List-II | |---|---| | (A). M1 | (I). Currency held by the public and net demand deposits held by commercial banks | | (B). M2 | (II). M3 + Total deposits with Post Office savings organisations | | (C). M3 | (III). M1 + Net time deposits of commercial banks | | (D). M4 | (IV). M1 + Savings deposits with Post Office savings banks | Choose the correct answer from the options given below:

Let us consider the example of a market consisting of identical farms producing the same quality of wheat. Suppose the market demand curve and the market supply curve for wheat are given by: qᵈ = 200 - p and qˢ = 120 + p. What is the equilibrium price?

For the firm to continue to produce, in the long run, price must be greater than the average cost (p > AC) and in the short run, price must be greater than the ......

Firms can choose where to locate production and workers to choose where to work. There are various immigration laws which restrict the movement of labour between countries. This market is called...

The current account is the record of trade in goods and services and transfer payments. Arrange the following components in terms of service. (A). Current account. (B). Net factor income + Net Non-factor income. (C). Net investment income + Net income from compensation of employees. (D). Trade in services. Choose the correct answer from the options given below:

A shock absorber which makes disposable income, and thus consumer spending, less sensitive to fluctuations in GDP is called......

Among the following what are the functions of money? (A). Medium of exchange. (B). Unit of account. (C). Unit of purchasing power. (D). Store of value. Choose the correct answer from the options given below: