Q1:
31st May Shift 1
Micro > Production & Costs
Easy
When a proportional increase in all inputs results in an increase in output by a smaller proportion. This represents:
Correct Answer
Option 4
Correct Answer
CUET Economics 2026 31st May Shift 1 PYQs
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Q2:
31st May Shift 1
Indian Economic Development > Development Experience (1947-90)
Medium
Arrange the following Indian policy measures in chronological order (oldest to latest). A. First industrial policy resolution. B. Second phase of green revolution. C. Establishment of planning commission. D. Implementation of new economic policy. Choose the correct answer from the options given below:
Correct Answer
Option 4
Correct Answer
Q3:
31st May Shift 1
Indian Economic Development > Development Experience of India
Easy
What was the core objective of China behind setting up the special economic zones from the following?
Correct Answer
Option 1
Correct Answer
Q4:
31st May Shift 1
Indian Economic Development > Development Experience of India
Medium
India, China and Pakistan implemented economic reforms in different years. Find the year from the given option in which none of these countries implemented the economic reforms?
Correct Answer
Option 2
Correct Answer
Q5:
31st May Shift 1
Macro > Income & Employment
Easy
Calculate the value of the multiplier from the given consumption function C = 100 + 0.8Y.
Correct Answer
Option 1
Correct Answer
Q6:
31st May Shift 1
Macro > Government Budget
Easy
The intervention of the government whether to expand demand or reduce it constitutes which of the following function.
Correct Answer
Option 3
Correct Answer
Q7:
31st May Shift 1
Macro > Money & Banking
Medium
Which one of the following is not used as a basis for credit creation?
Correct Answer
Option 1
Correct Answer
Q8:
31st May Shift 1
Indian Economic Development > Economic Reforms (1991)
Easy
After agreeing on the conditions of World Bank and IMF India announced which of the following policy?
Correct Answer
Option 1
Correct Answer
Q9:
31st May Shift 1
Macro > Balance of Payments
Easy
The price of one currency in terms of another currency is known as the:
Correct Answer
Option 2
Correct Answer
Q10:
31st May Shift 1
Macro > Income & Employment
Easy
The Aggregate Demand function shows the total demand (made up of consumption + investment) at each level of________.
Correct Answer
Option 2
Correct Answer
Q11:
31st May Shift 1
Macro > Money & Banking
Medium
Which of the following measure of monetary policy can be used to reduce the excess money supply from the economy?
Correct Answer
Option 3
Correct Answer
Q12:
31st May Shift 1
Macro > Money & Banking
Medium
Arrange the following measures of money supply (monetary aggregates) in increasing order of liquidity. A. CU + DD where CU is currency held by the public and DD is net demand deposits of banks B. CU + DD + Savings deposits with Post Office savings banks C. CU + DD + Net time deposits of commercial banks D. CU + DD + Net time deposits of commercial banks + Total deposits with Post Office savings organisations (excluding National Savings Certificates) Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q13:
31st May Shift 1
Macro > National Income
Easy
An addition to the stock of physical capital and additional changes in the inventory of a producer is known as?
Correct Answer
Option 4
Correct Answer
Q14:
31st May Shift 1
Indian Economic Development > Development Experience of India
Easy
Under which revolution students and professionals were sent to work and learn from the countryside?
Correct Answer
Option 2
Correct Answer
Q15:
31st May Shift 1
Macro > Introduction
Medium
Match the LIST-I with LIST-II | LIST-I | | LIST-II | |---|---|---| | A. Output Market | I. | The price of one currency in terms of another currency | | B. Financial Market | II. | Firms can choose where to locate production and workers to choose where to work. | | C. Labour Market | III. | Most often an economy can buy financial assets from other countries. | | D. Foreign exchange rate | IV. | An economy can trade in goods and services with other countries. | Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q16:
31st May Shift 1
Micro > Consumer Behaviour
Easy
If the income effect is stronger than the substitution effect, the demand for the good would be positively related to its price. Such goods are called:
Correct Answer
Option 1
Correct Answer
Q17:
31st May Shift 1
Micro > Production & Costs
Medium
Find the value of total revenue from the following table and arrange those values of total revenue in decreasing order. | Option | Average revenue | Quantity | |---|---|---| | A | 10 | 2 | | B | 12 | 1.5 | | C | 14 | 1.0 | | D | 16 | 0.5 | Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q18:
31st May Shift 1
Micro > Market Equilibrium
Easy
Equilibrium in which market is adjusted by invisible hands, and can be defined as zero excess demand and zero excess supply?
Correct Answer
Option 2
Correct Answer
Q19:
31st May Shift 1
Macro > Balance of Payments
Easy
The difference between the value of exports and the value of imports of goods of a country in a given period of time is known as:
Correct Answer
Option 3
Correct Answer
Q20:
31st May Shift 1
Macro > National Income
Easy
| | Firm-A | Firm-B | |---|---|---| | Intermediate consumption | 10 | 20 | | Sales | 50 | 75 | | Value added | ? | ? | From the above table, find the value added figure by Firm-B and Firm-A respectively.
Correct Answer
Option 3
Correct Answer
Q21:
31st May Shift 1
Macro > Income & Employment
Medium
Calculate the different values of multiplier from the given consumption functions and arrange them in increasing order. A. C = 10 + 0.8Y B. C = 12 + 0.6Y C. C = 14 + 0.5Y D. C = 16 + 0.2Y Choose the correct answer from the options given below:
Correct Answer
Option 1
Correct Answer
Q22:
31st May Shift 1
Indian Economic Development > Rural Development
Easy
For which sector's produce, the government declares minimum support price.
Correct Answer
Option 2
Correct Answer
Q23:
31st May Shift 1
Macro > Government Budget
Medium
Which of the following component is not part of non-planned expenditure?
Correct Answer
Option 2
Correct Answer
Q24:
31st May Shift 1
Micro > Consumer Behaviour
Medium
Arrange the following values of elasticity in increasing order: A. Infinity B. Unitary elastic C. Greater than unitary elastic D. Less than unitary elastic Choose the correct answer from the options given below:
Correct Answer
Option 1
Correct Answer
Q25:
31st May Shift 1
Micro > Consumer Behaviour
Hard
Which of the following combinations are correct about the total expenditure method of measuring elasticity? A. Total expenditure on a commodity increases with the increase in the price of the commodity then elasticity of demand for that commodity is elastic. B. Total expenditure on a commodity increases with the increase in the price of the commodity then elasticity of demand for that commodity is inelastic. C. Demand for that commodity is less responsive to the changes in price of that commodity then total expenditure increases with increase in price. D. Demand for that commodity is more responsive to the changes in price of that commodity then total expenditure decreases with increase in price. Choose the correct answer from the options given below:
Correct Answer
Option 4
Correct Answer
Q26:
31st May Shift 1
Indian Economic Development > Economic Reforms (1991)
Easy
Privatisation of the public sector enterprises by selling off partial or full equity of PSEs to the public is known as:
Correct Answer
Option 2
Correct Answer
Q27:
31st May Shift 1
Micro > Introduction
Easy
The goods which posses the characteristics of rivalary and excludability are known as:
Correct Answer
Option 4
Correct Answer
Q28:
31st May Shift 1
Micro > Production & Costs
Medium
| Input | Output | Marginal productivity of factor | |---|---|---| | $10\ L_1$ | $20\ Q_1$ | $MP_L = ?$ | | $12\ L_2$ | $25\ Q_2$ | | | $8\ K_3$ | $16\ Q_3$ | $MP_K = ?$ | | $10\ K_4$ | $20\ Q_4$ | | Where labour input $L_1$ and $L_2$ are related to output $Q_1$ and $Q_2$ respectively Capital input $K_3$ and $K_4$ are related to output $Q_3$ and $Q_4$ respectively Find the values of $MP_L$ and $MP_K$.
Correct Answer
Option 3
Correct Answer
Q29:
31st May Shift 1
Macro > National Income
Hard
Match the LIST-I with LIST-II GDP= Gross Domestic Product, GNP= Gross National Product, NNP= Net National Product | LIST-I | | LIST-II | |---|---|---| | A. NNP at factor cost | I. | NNP | | B. GNP - Depreciation | II. | National Income | | C. GDP at market price | III. | Net investment | | D. Gross investment - depreciation | IV. | $GNP_{MP}$ - Net factor income from abroad | Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q30:
31st May Shift 1
Indian Economic Development > Sustainable Economic Development
Medium
Match the LIST-I with LIST-II | LIST-I | | LIST-II | |---|---|---| | A. Absorptive capacity | I. | Regeneration capacity is higher than resource extraction. | | B. Carrying capacity | II. | Gradual increase in the average temperature of the earth's lower atmosphere. | | C. Global warming | III. | Ability of the environment to absorb degradation. | | D. Montreal Protocol | IV. | Banning the use of chlorofluorocarbon (CFC) compounds. | Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q31:
31st May Shift 1
Macro > Money & Banking
Medium
Which of the following statements are correct about monetary policy instruments of RBI? A. Bank rate is the rate at which RBI lends to commercial banks for long term. B. Repo rate is the rate at which RBI lends to commercial banks for short period. C. Open market operation is the buying and selling of government securities by RBI to regulate money supply. D. Reverse repo rate is the rate at which RBI lends to commercial banks for medium period. Choose the correct answer from the options given below:
Correct Answer
Option 1
Correct Answer
Q32:
31st May Shift 1
Micro > Forms of Market
Easy
Which of the following combinations are correct about perfectly competitive market? A. Large number of buyers and sellers. B. Heterogenous product. C. Free entry and exit. D. Price is equal to marginal cost. Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q33:
31st May Shift 1
Micro > Production & Costs
Medium
Find the correct statements from the following in respect to production: A. Average Product of Labour ($AP_L$)= Total Product of Labour / Labor. B. Marginal Product of Labour ($MP_L$)= Change in total Product of Labour / Change in Labour. C. Addition input gives constant return in increasing return to scale concept. D. Law of variable proportions say that the marginal product of a factor input initially rises with its employment level, then after certain level it start falling. Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q34:
31st May Shift 1
Macro > Income & Employment
Medium
Find the incorrect option from the following?
Correct Answer
Option 4
Correct Answer
Q35:
31st May Shift 1
Micro > Introduction
Easy
Every society has to answer three basic economics questions. Which one of the following is not part of those three questions?
Correct Answer
Option 1
Correct Answer
Q36:
31st May Shift 1
Micro > Market Equilibrium
Medium
Match the LIST-I with LIST-II | LIST-I | | LIST-II | |---|---|---| | A. Floor Price | I. | Decrease in supply | | B. Price ceiling | II. | Setting the minimum price | | C. Leftward shift in supply & demand curve | III. | Increase in demand | | D. Rightward shift in demand and supply curve | IV. | Setting the maximum price | Choose the correct answer from the options given below:
Correct Answer
Option 4
Correct Answer
Q37:
31st May Shift 1
Indian Economic Development > Rural Development
Easy
Which of the following combinations are correct about Mahatma Gandhi National Rural Employment Guarantee (MGNREG) Act? A. It promises 100 days of guaranteed wage employment to all who volunteer to do unskilled manual work. B. It promises 200 days of guaranteed wage employment to all who volunteer to do unskilled manual work. C. The scheme has implemented to generate employment for those who are in need of jobs in rural areas. D. It was enacted in the year 2005. Choose the correct answer from the options given below:
Correct Answer
Option 4
Correct Answer
Q38:
31st May Shift 1
Macro > Income & Employment
Easy
The value of marginal propensity to consume is lies between which of the following combination?
Correct Answer
Option 3
Correct Answer
Q39:
31st May Shift 1
Micro > Introduction
Medium
Match the LIST-I with LIST-II | LIST-I | | LIST-II | |---|---|---| | A. Public Good | I. | Excludable and Rivalary | | B. Private Good | II. | Beneficial and detrimental effects of one economic unit upon other | | C. Externality | III. | Non-excludable and Non-rivalary | | D. Mixed economy | IV. | Co-existence of public sector and private sector | Choose the correct answer from the options given below:
Correct Answer
Option 1
Correct Answer
Q40:
31st May Shift 1
Macro > Balance of Payments
Medium
When the government increases the exchange rate of domestic currency in terms of foreign currency(by making domestic currency costlier year) in a fixed exchange rate system, that increase called:
Correct Answer
Option 1
Correct Answer
Q41:
31st May Shift 1
Macro > National Income
Easy
There is another way to measure change of prices in an economy which is known as the Consumer Price Index (CPI). This is the index of prices of a given basket of commodities which are bought by the representative consumer. CPI is generally expressed in percentage terms. It is worth noting that many commodities have two sets of prices. One is the retail price which the consumer actually pays. The other is the wholesale price, the price at which goods are traded in bulk. These two may differ in value because of the margin kept by traders. Goods which are traded in bulk (such as raw materials or semi-finished goods) are not purchased by ordinary consumers.
Like CPI, the index for wholesale prices is called Wholesale Price Index (WPI). In countries like USA it is referred to as Producer Price Index (PPI). Notice CPI (and analogously WPI) may differ from GDP deflator because the goods purchased by consumers do not represent all the goods which are produced in a country. GDP deflator takes into account all such goods and services. CPI includes prices of goods consumed by the representative consumer, hence it includes prices of imported goods. GDP deflator does not include prices of imported goods. The weights are constant in CPI – but they differ according to production level of each good in GDP deflator.
Which price index is used in USA as a measure of bulk buying of goods and services?
Correct Answer
Option 1
Correct Answer
Q42:
31st May Shift 1
Macro > National Income
Easy
There is another way to measure change of prices in an economy which is known as the Consumer Price Index (CPI). This is the index of prices of a given basket of commodities which are bought by the representative consumer. CPI is generally expressed in percentage terms. It is worth noting that many commodities have two sets of prices. One is the retail price which the consumer actually pays. The other is the wholesale price, the price at which goods are traded in bulk. These two may differ in value because of the margin kept by traders. Goods which are traded in bulk (such as raw materials or semi-finished goods) are not purchased by ordinary consumers.
Like CPI, the index for wholesale prices is called Wholesale Price Index (WPI). In countries like USA it is referred to as Producer Price Index (PPI). Notice CPI (and analogously WPI) may differ from GDP deflator because the goods purchased by consumers do not represent all the goods which are produced in a country. GDP deflator takes into account all such goods and services. CPI includes prices of goods consumed by the representative consumer, hence it includes prices of imported goods. GDP deflator does not include prices of imported goods. The weights are constant in CPI – but they differ according to production level of each good in GDP deflator.
The price at which goods are traded in bulk are known as:
Correct Answer
Option 4
Correct Answer
Q43:
31st May Shift 1
Macro > National Income
Easy
There is another way to measure change of prices in an economy which is known as the Consumer Price Index (CPI). This is the index of prices of a given basket of commodities which are bought by the representative consumer. CPI is generally expressed in percentage terms. It is worth noting that many commodities have two sets of prices. One is the retail price which the consumer actually pays. The other is the wholesale price, the price at which goods are traded in bulk. These two may differ in value because of the margin kept by traders. Goods which are traded in bulk (such as raw materials or semi-finished goods) are not purchased by ordinary consumers.
Like CPI, the index for wholesale prices is called Wholesale Price Index (WPI). In countries like USA it is referred to as Producer Price Index (PPI). Notice CPI (and analogously WPI) may differ from GDP deflator because the goods purchased by consumers do not represent all the goods which are produced in a country. GDP deflator takes into account all such goods and services. CPI includes prices of goods consumed by the representative consumer, hence it includes prices of imported goods. GDP deflator does not include prices of imported goods. The weights are constant in CPI – but they differ according to production level of each good in GDP deflator.
Consumer price index(CPI) is generally expressed in:
Correct Answer
Option 2
Correct Answer
Q44:
31st May Shift 1
Macro > National Income
Easy
There is another way to measure change of prices in an economy which is known as the Consumer Price Index (CPI). This is the index of prices of a given basket of commodities which are bought by the representative consumer. CPI is generally expressed in percentage terms. It is worth noting that many commodities have two sets of prices. One is the retail price which the consumer actually pays. The other is the wholesale price, the price at which goods are traded in bulk. These two may differ in value because of the margin kept by traders. Goods which are traded in bulk (such as raw materials or semi-finished goods) are not purchased by ordinary consumers.
Like CPI, the index for wholesale prices is called Wholesale Price Index (WPI). In countries like USA it is referred to as Producer Price Index (PPI). Notice CPI (and analogously WPI) may differ from GDP deflator because the goods purchased by consumers do not represent all the goods which are produced in a country. GDP deflator takes into account all such goods and services. CPI includes prices of goods consumed by the representative consumer, hence it includes prices of imported goods. GDP deflator does not include prices of imported goods. The weights are constant in CPI – but they differ according to production level of each good in GDP deflator.
Which one of the following index measures the basket of commodities purchased by the consumer?
Correct Answer
Option 2
Correct Answer
Q45:
31st May Shift 1
Macro > National Income
Medium
There is another way to measure change of prices in an economy which is known as the Consumer Price Index (CPI). This is the index of prices of a given basket of commodities which are bought by the representative consumer. CPI is generally expressed in percentage terms. It is worth noting that many commodities have two sets of prices. One is the retail price which the consumer actually pays. The other is the wholesale price, the price at which goods are traded in bulk. These two may differ in value because of the margin kept by traders. Goods which are traded in bulk (such as raw materials or semi-finished goods) are not purchased by ordinary consumers.
Like CPI, the index for wholesale prices is called Wholesale Price Index (WPI). In countries like USA it is referred to as Producer Price Index (PPI). Notice CPI (and analogously WPI) may differ from GDP deflator because the goods purchased by consumers do not represent all the goods which are produced in a country. GDP deflator takes into account all such goods and services. CPI includes prices of goods consumed by the representative consumer, hence it includes prices of imported goods. GDP deflator does not include prices of imported goods. The weights are constant in CPI – but they differ according to production level of each good in GDP deflator.
Which of the following goods prices are not included in GDP Deflator?
Correct Answer
Option 4
Correct Answer
Q46:
31st May Shift 1
Indian Economic Development > Human Capital Formation
Easy
Societies need sufficient human capital in the first place—in the form of competent people who have themselves been educated and trained as professors and other professionals. In other words, we need good human capital to produce other human capital (say, nurses, farmers, teachers, doctors, engineers...). This means that we need investment in human capital to produce more human capital out of human resources.
Investment in education is considered as one of the main sources of human capital. There are several other sources as well. Investments in health, on-the job training, migration and information are the other sources of human capital formation. People migrate in search of jobs that fetch them higher salaries than what they may get in their native places. Unemployment is the reason for the rural-urban migration in India. Technically qualified persons, like engineers and doctors, migrate to other countries because of higher salaries that they may get in such countries.
India recognised the importance of human capital in economic growth long ago. The Seventh Five Year Plan says, “Human resources development (read human capital) has necessarily to be assigned a key role in any development strategy, particularly in a country with a large population. The National Education Policy 2020 states that the world is undergoing rapid changes in the knowledge landscape.
In which of the following five year plans, India gave maximum emphasis on the development of human capital?
Correct Answer
Option 1
Correct Answer
Q47:
31st May Shift 1
Indian Economic Development > Human Capital Formation
Easy
Societies need sufficient human capital in the first place—in the form of competent people who have themselves been educated and trained as professors and other professionals. In other words, we need good human capital to produce other human capital (say, nurses, farmers, teachers, doctors, engineers...). This means that we need investment in human capital to produce more human capital out of human resources.
Investment in education is considered as one of the main sources of human capital. There are several other sources as well. Investments in health, on-the job training, migration and information are the other sources of human capital formation. People migrate in search of jobs that fetch them higher salaries than what they may get in their native places. Unemployment is the reason for the rural-urban migration in India. Technically qualified persons, like engineers and doctors, migrate to other countries because of higher salaries that they may get in such countries.
India recognised the importance of human capital in economic growth long ago. The Seventh Five Year Plan says, “Human resources development (read human capital) has necessarily to be assigned a key role in any development strategy, particularly in a country with a large population. The National Education Policy 2020 states that the world is undergoing rapid changes in the knowledge landscape.
What is the main reason of rural-urban migration in India?
Correct Answer
Option 1
Correct Answer
Q48:
31st May Shift 1
Indian Economic Development > Human Capital Formation
Easy
Societies need sufficient human capital in the first place—in the form of competent people who have themselves been educated and trained as professors and other professionals. In other words, we need good human capital to produce other human capital (say, nurses, farmers, teachers, doctors, engineers...). This means that we need investment in human capital to produce more human capital out of human resources.
Investment in education is considered as one of the main sources of human capital. There are several other sources as well. Investments in health, on-the job training, migration and information are the other sources of human capital formation. People migrate in search of jobs that fetch them higher salaries than what they may get in their native places. Unemployment is the reason for the rural-urban migration in India. Technically qualified persons, like engineers and doctors, migrate to other countries because of higher salaries that they may get in such countries.
India recognised the importance of human capital in economic growth long ago. The Seventh Five Year Plan says, “Human resources development (read human capital) has necessarily to be assigned a key role in any development strategy, particularly in a country with a large population. The National Education Policy 2020 states that the world is undergoing rapid changes in the knowledge landscape.
Investment in education and health care to improve the productivity and quality of life of people is referred as:
Correct Answer
Option 2
Correct Answer
Q49:
31st May Shift 1
Indian Economic Development > Human Capital Formation
Easy
Societies need sufficient human capital in the first place—in the form of competent people who have themselves been educated and trained as professors and other professionals. In other words, we need good human capital to produce other human capital (say, nurses, farmers, teachers, doctors, engineers...). This means that we need investment in human capital to produce more human capital out of human resources.
Investment in education is considered as one of the main sources of human capital. There are several other sources as well. Investments in health, on-the job training, migration and information are the other sources of human capital formation. People migrate in search of jobs that fetch them higher salaries than what they may get in their native places. Unemployment is the reason for the rural-urban migration in India. Technically qualified persons, like engineers and doctors, migrate to other countries because of higher salaries that they may get in such countries.
India recognised the importance of human capital in economic growth long ago. The Seventh Five Year Plan says, “Human resources development (read human capital) has necessarily to be assigned a key role in any development strategy, particularly in a country with a large population. The National Education Policy 2020 states that the world is undergoing rapid changes in the knowledge landscape.
Investment in human capital take place to produce more human capital out of______.
Correct Answer
Option 3
Correct Answer
Q50:
31st May Shift 1
Indian Economic Development > Human Capital Formation
Easy
Societies need sufficient human capital in the first place—in the form of competent people who have themselves been educated and trained as professors and other professionals. In other words, we need good human capital to produce other human capital (say, nurses, farmers, teachers, doctors, engineers...). This means that we need investment in human capital to produce more human capital out of human resources.
Investment in education is considered as one of the main sources of human capital. There are several other sources as well. Investments in health, on-the job training, migration and information are the other sources of human capital formation. People migrate in search of jobs that fetch them higher salaries than what they may get in their native places. Unemployment is the reason for the rural-urban migration in India. Technically qualified persons, like engineers and doctors, migrate to other countries because of higher salaries that they may get in such countries.
India recognised the importance of human capital in economic growth long ago. The Seventh Five Year Plan says, “Human resources development (read human capital) has necessarily to be assigned a key role in any development strategy, particularly in a country with a large population. The National Education Policy 2020 states that the world is undergoing rapid changes in the knowledge landscape.
What do you mean by brain-drain problem?
Correct Answer
Option 4
Correct Answer
CUET Economics 2026 31st May Shift 1 - Past Year Questions
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