CUET Economics 2026 15th May Shift 1 PYQs

Match the LIST-I with LIST-II | LIST-I | LIST-II | |---|---| | A. An Enquiry into the Nature and Cause of the Wealth of Nations | I. John Maynard Keynes | | B. General Theory of Employment, Interest and Money | II. Real GDP | | C. The GDP calculated at current market price | III. Adam Smith | | D. The GDP calculated at some constant set of prices | IV. Nominal GDP | Choose the correct answer from the options given below:

Suppose the price elasticity of demand for a good is –0.2. How will the demand for the good be affected if there is a 10% increase in the price of the good?

Which of the following are the examples of Transfer Payments? A. Expenditure on scholarships. B. Expenditure on unemployment benefits. C. Expenditure on subsidies. D. Expenditure on imports. Choose the correct answer from the options given below:

A country could use its reserves of foreign exchange in order to balance any deficit in its balance of payments. The reserve bank _________ foreign exchange when there is a deficit. This is called __________.

Which of the following country has followed the classical development pattern of gradual shift from agriculture to manufacturing and then to services?

In commercial banks, saving and current account deposits are held by the public. There are other deposits like fixed deposits, having a fixed period to maturity and are referred to as _______________.

Match the LIST-I with LIST-II | LIST-I | LIST-II | |---|---| | A. When a proportional increase in all inputs results in an increase in output by a larger proportion | I. Constant Returns to Scale | | B. When a proportional increase in all inputs results in an increase in output by the same proportion | II. Law of variable proportion | | C. When a proportional increase in all inputs results in an increase in output by a smaller proportion | III. Increasing Returns to Scale | | D. The tendency of the marginal product first increase and then fall | IV. Decreasing Returns to Scale | Choose the correct answer from the options given below:

The Central Statistics Office (CSO) of the Government of India has been reporting the GDP at factor cost and at market prices. In its revision in January, 2015 the CSO replaced GDP at factor cost with __________

Identify the steps in sequence to calculate the value of National Income by expenditure method: A. Calculating NNP at factor cost ( $NNP_{fc} = NDP_{fc} + NFIA$ ) B. Calculating GDP at factor cost ($GDP_{fc} = GDP_{mp} - NIT$ ) C. Calculating GDP at market price ($GDP_{mp} = C + I + G + X - M$) D. Calculating NDP at factor cost ( $NDP_{fc} = GDP_{fc} - Depreciation$ ) Choose the correct answer from the options given below:

Arrange the following in Chronological order: A. Third Five-Year Plan. B. Nationalisation of RBI. C. Introduction of GST in the Indian Tax System. D. Establishment of NABARD. Choose the correct answer from the options given below:

Suppose the demand and supply curve of commodity X in a perfectly competitive market are given by: $q_d = 700 - p$ $q_s = 500 + 3p$ Assume that the market consists of identical firms. What will be the equilibrium price for this commodity?

The Proportional Income Tax, acts as an __________, a shock absorber because it makes disposable income, and thus consumer spending purposes less sensitive to fluctuation in GDP.

Match the LIST-I with LIST-II | LIST-I | LIST-II | |---|---| | A. People of China were encouraged to set up industries in their backyards | I. Percentage of people living below poverty line (national) | | B. In China, students and professionals were sent to work and learn from the countryside | II. The Great Leap Forward | | C. Indicator of Human Development | III. The Great Proletarian Cultural Revolution | | D. One such indicator of Human Development which has not been given any extra weight | IV. Liberty indicators | Choose the correct answer from the options given below:

Identify the variable on which the overall level of employment and prices in the economy depends upon?

The present day fast industrial growth in China can be traced back to the reforms introduced in ________.

In a Commercial Bank, if the initial deposit of Rs 1000 create deposits of Rs 5000, then the cash reserve ratio will be_________.

When demand of a commodity is equal to that of its supply in the market then the price of this commodity is called?

When the price of a ball is Rs 10 then 200 cricket balls are produced by the firm in the market. When the price of a ball rises to Rs 30 then 1000 cricket balls are produced in aggregate by the firm in the market. What will be the value of Price elasticity of supply?

Arrange the following in the chronological order: A. Implementation of Mahatma Gandhi National Rural Employment Guarantee Act B. Set up of a Thrift and Credit Society under the programmer 'Kudumbashree' in Kerala C. Establishment of Food Corporation of India D. Initiation of Tamil Nadu Women in Agriculture (TANWA) project Choose the correct answer from the options given below:

Gross Primary Deficit is equal to the difference between Gross Fiscal Deficit and:

There is always a cost of having a little more of one good in terms of the amount of the other good that has to be forgone. This cost is known as........................

When we deduct the value of Personal Tax Payments and Non-Tax Payments from the value of Personal Income then we obtain the value of ............... .

Arrange the following in chronological order : A. Appiko movement in Karnataka B. Year in which UN formulated 17 Sustainable Development Goals (SDGs) C. Set up of the Central Pollution Control Board (CPCB) by the Government of India D. United Nations Conference on Environment and Development (UNCED) Choose the correct answer from the options given below:

Match the LIST-I with LIST-II | LIST-I | LIST-II | |---|---| | A. The RBI gives long term loans to the commercial banks | I. Reverse repurchase agreement | | B. The RBI buys the securities through an agreement having specification about date and price of resale | II. Open market operations | | C. The RBI sell the securities through an agreement having specification about date and price at which it will be repurchased | III. Repurchase agreement | | D. Buying and selling of bonds issued by the government in the open market | IV. Bank Rate | Choose the correct answer from the options given below:

International economic transactions are called _______________ when transactions are made due to some reason other than to bridge the gap in balance of payments.

As per Foreign Exchange Reforms, in 1991, as an immediate measure to resolve the balance of payments crisis, the rupee was ____________ against foreign currencies.

Which Budget Deficit gives the total borrowing requirements of the government from all sources?

Change in inventories may be planned or unplanned. In case of an unexpected fall in sales, the firm will have unsold stock of goods which it had not anticipated. Hence, there will be ______________.

______________ attempts to establish links in such a way that the happenings in India can be influenced miles away, resulting a borderless world.

Arrange the following in chronological order: A. Introduction of Saansad Adarsh Gram Yojna (SAGY) by the Government of India B. Establishment of Central Pollution Control Board C. Year in which Kisan Mehta of Prakruti (an NGO) first suggested that Cotton could be grown organically D. Set up of NABARD Choose the correct answer from the options given below:

One of the important function of the Central bank is to provide funds to commercial banks at the time of emergency. Identify the instrument through which RBI can perform this function.

Match the LIST-I with LIST-II | LIST-I | LIST-II | |---|---| | A. Third element of BOP | I. Dirty floating | | B. Managed Floating | II. Depreciation of domestic currency | | C. When the government makes domestic currency cheaper | III. Errors and omissions | | D. When the price of foreign currency in terms of domestic currency has increased | IV. Devaluation | Choose the correct answer from the options given below:

There is a new classification in which the Balance of Payment have been divided into three accounts - the Current Account, the Capital Account and?

Which year is termed as The Year of Great Divide in the history of Indian demography?

If there is a positive level of output at which a firm's profit is maximized in the long run, three conditions must hold at that output level are: A. P is equal to LRMC B. P is less than LRAC C. LRMC is non - decreasing D. P is greater than or equal to the minimum LRAC Choose the correct answer from the options given below:

Identify the correct statements from the following: A. SMC curve cuts AVC curve from below at the minimum point of AVC B. SMC curve cuts the SAC curve from below at the minimum point of SAC C. Average fixed cost curve is upward sloping D. LRMC curve cuts the LRAC curve from below at the minimum point of LRAC Choose the correct answer from below:

Name the strategy through which the government was able to protect the domestic industries from foreign competition?

Which of the following are limitations of using GDP as a sole indicator of welfare? A. Public park used for recreation activities. B. It does not account for income equality. C. It does not evaluate the value of unpaid household work. D. It can be increased due to activities which may be harmful to the environment. Choose the correct answer from the options given below:

An isoquant ________ A. Represents the same level of output and input. B. Yield the same maximum possible level of output from the set of all possible combinations of two inputs. C. Yield different level of output from the set of all possible combinations of two inputs. D. Is an alternative way of presenting the production function. Choose the correct answer from the options given below:

What is the cause behind the convexity of indifference curve to the origin?