CUET Economics 2026 21st May Shift 2 PYQs

Arrange the following events in chronological order (oldest to latest). A. India got independence. B. The first census collection in India. C. Introduction of the railways in India. D. Incorporation of Tata Iron and Steel Company (TISCO). Choose the correct answer from the options given below:

Calculate the equilibrium income when MPC = .25 and transfers increases by 50.

Match the LIST-I with LIST-II (SMC = Short run marginal cost, AVC = Average variable Cost, MR= Marginal Revenue) | | LIST-I | | LIST-II | |---|---|---|---| | A. | Perfectly competitive Market | I. | Normal profit in the long run | | B. | Point below where SMC curve cuts the AVC curve | II. | Break Even Point | | C. | Supply curve cuts the SMC curve at minimum | III. | Shut Down Point | | D. | MR is precisely the market price | IV. | Perfect Competition | Choose the correct answer from the options given below:

Match the LIST-I with LIST-II | | LIST-I | | LIST-II | |---|---|---|---| | A. | Apni Mandi | I. | Punjab, Haryana and Rajasthan. | | B. | Hadaspar Mandi | II. | Andhra Pradesh and Telangana. | | C. | Rythu Bazars | III. | Pune. | | D. | Uzhavar Sandies | IV. | Tamil Nadu. | Choose the correct answer from the options given below:

A country's balance of payment account is in surplus when?

In a perfectly competitive market firms can enter and exit freely from the market, then the equilibrium price in this condition is always equal to?

Who is the custodian of the foreign exchange reserves of the economy?

Match the LIST-I with LIST-II | | LIST-I | | LIST-II | |---|---|---|---| | A. | Open Economy | I. | interacts with other countries through various channels. | | B. | Output Market | II. | gives investors the opportunity to choose between domestic and foreign assets. | | C. | Financial Market | III. | widens choice that consumers and producers can choose between domestic and foreign goods. | | D. | Labour Market | IV. | firms can choose where to locate production and workers to choose where to work. | Choose the correct answer from the options given below:

What are the values of marginal product and average product, when changes in labour from 3 to 4 with leads to changes in total product from 40 to 50?

Match the LIST-I with LIST-II | | LIST-I | | LIST-II | |---|---|---|---| | A. | Great Proletarian Cultural Revolution | I. | 1966 | | B. | China First Five Year Plan | II. | 1953 | | C. | Medium Term Development Plan of Pakistan | III. | 1956 | | D. | India's First Five Year Plan | IV. | 1951 | Choose the correct answer from the options given below:

Choose the correct option with reference to the human development indicators. A. Life Expectancy at Birth. B. Mean years of Schooling. C. People living Below Poverty Line. D. Maternal Mortality Rate. Choose the correct answer from the options given below:

A set of arrangements where economic agents can freely exchange their endowments or products with each other is known as:

What were the major problems that the Indian economy was facing before the introduction of new reform policy? A. Declining foreign exchange. B. Growing imports without matching rise in exports. C. Government revenue exceeds expenditure. D. Rising prices of essential goods. Choose the correct answer from the options given below:

In India, during the first seven plans, trade policy was characterized by an inward-looking trade strategy. Technically, this strategy is called:

Select the correct statements in the context of measuring national income by product method. A. It calculates the aggregate annual value of goods and services produced in the country. B. The value added is a stock variable. C. The value added of a firm is distributed among its factors of production. D. The value added of a firm is the value of production of the firm minus the value of intermediate goods used by the firm. Choose the correct answer from the options given below:

Identify the correct money multiplier formula.

What will be the difference between original and the new equilibrium level of income, when the investment rise from 10 to 20 at given consumption function C= 40 + 0.8Y?

Those variables which are defined at a point of time are called?

If additional unit tax imposed on goods by the government, then how it will be affect the movement of supply curve?

Which measure of money supply is least liquid among the following?

Which constitutional amendment was passed for Goods and services tax?

A geographical region within a country that has economic laws different from the country's typical economic laws is defined as:

The restrictions in the form of quotas imposed on imports to reduce balance of payments deficit and protect domestic industry is known as:

Arrange the following events in descending order of time (latest to oldest). A. The Right of Children to Free and Compulsory Education Act. B. The National Education Policy. C. The Education Commission. D. The Tapas-Majumdar Committee. Choose the correct answer from the options given below:

The expenditure on the good would change in the opposite direction as the price change if and only if the percentage change in quantity is greater than the percentage change in price, then the elasticity of good is:

In 2015, the UN formulated 17 Sustainable Development Goals (SDGs) intended to be achieved by ____________.

Match the LIST-I with LIST-II | | LIST-I | | LIST-II | |---|---|---|---| | A. | Consumer Durables | I. | Not extinguished by immediate or even short period consumption. | | B. | Intermediate good | II. | Used as raw material or inputs for production of other commodities. | | C. | Final good | III. | Fixed assets used in production process. | | D. | Capital goods | IV. | Not pass through any more stages of production or transformations. | Choose the correct answer from the options given below:

Identify the government deficit calculated by the following formula: Net borrowing at home + Borrowing from RBI + Borrowing from abroad.

Arrange the following statements in the context of impact on money supply by using Open Market Operations (OMO) tool. A. RBI buys a Government bond in the open market. B. It leads to increase in money supply. C. RBI Pays through cheque to the commercial banks. D. Thus increases the credit creation capacity of commercial banks. Choose the correct answer from the options given below:

Among the following which are the functions of government budget? A. Allocation. B. Redistribution. C. Production. D. Stabilisation. Choose the correct answer from the options given below:

Given the prices of goods and income of the consumers, the consumer can buy any bundle (X$_1$, X$_2$) such that P$_1$X$_1$ + P$_2$X$_2$ ≤ M. This inequality in the above equation is called__________.

Select the correct statements in respect to the relationship between short-run cost curves. A. Marginal cost (SMC), average variable cost(AVC) and short run average cost curves(SMC) are 'U' shaped. B. SMC curve cuts the AVC curve from below at the minimum point of AVC. C. AVC curve cuts the SMC curve from below at the minimum point of SMC. D. SMC curve cuts the SAC curve from below at the minimum point of SAC. Choose the correct answer from the options given below:

Arrange the following events in the ascending order: A. General Theory of Employment, Interest and Money. B. The Economic Consequences of the Peace. C. An Enquiry into the Nature and Cause of the Wealth of Nations. D. The Great Depression. Choose the correct answer from the options given below:

Determine the GDP in the phase of distribution when firm X gives Rs.120 to the workers as wages, and keeps the 50 as its profits. Similarly, firm Y gives 250 as wages and keeps 70 as profits.

Calculate the current account balance from the information given below: Exports = 400 crores Imports = 750 crores Net Invisibles Income = - 60 crores Transfer = 90 crores

When the country purchase the goods and services from rest of the world, this is called:

An economy produces two goods, bread and wheat. A representative consumer buys 10 units of bread and 50 kg of wheat in a year. In the year 2023 the price of per bread was Rs 20 and wheat per kg was Rs 40. Suppose the price of both goods has gone up to Rs. 30 per bread and Rs. 50/kg wheat in the year 2024. Calculate the Consumer Price Index (CPI).

The set of all possible combinations of the two inputs that yield the same maximum possible level of output is called?

Under dirty floating system, central banks intervene to buy and sell foreign currencies in an attempt to moderate exchange rate movements whenever they feel that such actions are appropriate. Therefore, official reserve transactions are:

Arrange the following statements with reference to the impact of government price regulations on goods within the framework of perfect competition: A. Subsequently, Government sets minimum prices for these goods and services. B. For certain goods and services, fall price below a particular level is not desirable. C. Consequently, Government needs to buy the surplus at the predetermined price. D. Thus, this leads to an excess supply the market. Choose the correct answer from the options given below: