COMMON PROFICIENCY
TEST
JUNE-2013
TIME -2 HRS
PAPER 2
MAXIMUM MARKS:
100
THE TEST IS DIVIDED INTO TWO SECTIONS
QUESTIONS 1 TO 100 HAVE ONLY ONE CORRECT ANSWER & CARRY +1 MARK FOR
EACH CORRECT ANSWER & -0.25 MARK FOR EACH WRONG ANSWER.
PART A-GENERAL ECONOMICS(50 marks)
101.
102.
103.
104.
In a sale of specific or ascertained goods the property in the goods passes to the buyer:
(a)
When the parties intend it to pass
(b)
When the price is paid
(c)
When the goods are delivered
(d)
All of the above
Which of the following statement is incorrect?
(a)
Land is a free gift of nature
(b)
Land is passive factor of production
(c)
The quantity of land is unlimited
(d)
Modern economists described the concept of ‘land element’
A demand curve shows:
(a)
The quantity demanded of a good at various levels of income of the consumer
(b)
The quantity demanded of a good at various levels of price of the good
(c)
The amount of money spent by a consumer on the goods at various levels of price
(d)
The quantity supplied of a good at various levels of price of the good
Which of the following is not an element of market structure?
(a)Buyers & Sellers (b) A product or service (c) Bargaining for a price (d) None of the above
105.
The income elasticity of demand of inferior goods is generally
(a)
106.
>1
1990
<0
(d)
=0
(b) 7814 apprx
(c) 7500 apprx
(d) 8500 apprx
(b)
2000
(c)
2001
(d)
1999
10th Five year plan targeted reduction in infant mortality rate to......by 2007
(a) 55/per 1000
109.
(c)
National population policy was announced in
(a)
108.
<1
In India on an average on post office serves persons
(a) 5500 apprx
107.
(b)
(b) 40/per 1000
India has.......major ports
(c) 45/per 1000
(d) 32/per 1000
(a)
110.
111.
112.
113.
115.
116.
118.
120.
(c)
16
(d)
18
Nature of the commodity
(b)
Availability of close substitutes
(c)
Cost of production
(d)
Consumption habit
IMF stands for
(a)
International Monetary Fund (b)
Indian Monetary Fund
(c)
Indo-Monetrial Fund
Indian Military Foundation
(d)
M1 excludes
(a)
Time deposit with bank
(b)
Demand deposits
(c)
Currency notes
(d)
Coins
At present how many industries are under the purview of compulsory industrial Licensing
8
(b)
6
(c)
7
(d)
10
In agricultural sector net value added is estimated by
(a)
Income method
(b)
Production method
(c)
Both
(d)
Survey Method
Which of these is/are a part of GDP
(a)
Scholarship and fee concession to meritorious students
(b)
Production and export of softwares
(c)
Purchase of a second hand car
(d)
Sale of securities purchased through secondary market
If prices of eggs rises from Rs. 25 per dozen to Rs. 30 per dozen, the demand for vegetables
burger increases from 30 per day to 40 per day, then the cross elasticity of eggs and vegetables
burger is
1.5
(b)
1.25
(c)
1.65
(d)
1.86
A firm in a Consonant cost industry expends its production
(a)
At the same cost of production
(b)
With increased production cost
(c)
With reduced production cost
(d)
None
Who said “economics is not merely a social science but a human science”
(a)
119.
24
(a)
(a)
117.
(b)
Price elasticity of demand is not effected by
(a)
114.
12
Adam Smith (b)
Robbins
(c)
Pique
(d)
Eagle
Which of the following is a normative statement
(a)
To check inflation RBI should restrict money supply
(b)
Government spend Rs. 5000 crore annually of public health
(c)
Increase in a crude prices will hit the industry hard
(d)
All the three
Devaluation of currency mean
(a)
Fall in exchange value of a country by market forces
(b)
Reduction in external value/exchange value of a currency by the Government
(c)
Reduction in currency value due to wear and tear
(d)
121.
122.
123.
The term SEZ stands for......
(a)
Special Economic Zone
(b)
Special Export zone
(c)
Spot Export zone
(d)
Surplus Expert Zone
Which country rank first in terms of HDI index
(a)
Canada
(b)
Japan
(c)
Norway
(d)
USA
GINI index......represent perfectly inequality in distribution of income
(a)
124.
126.
128.
129.
130.
131.
132.
133.
(b)
1
(c)
0.5
(d)
0.25
25%
(b)
36%
(c)
12.3% (d)
10%
What is the average life expectancy in India as per the census 2001-2011
(a)
61 Years
(b)
63.5 Years
(c)
65 Years
(d)
58.9 Years
What is the literacy ratio in India as per census 2001-2011
(a)
127.
0
Agricultural sector contributes nearly......of GDP in India
(a)
125.
All the three
64.1% (b)
69.3%
(c)
65.5%
(d)
60%
Balance of Capital Account deals with
(a)
Debts and claims
(b)
Earnings and expenditure
(c)
Foreign outgoing and incoming only (d)
Interest obligations only
FIAT money is something which
(a)
Has huge intrinsic value
(b)
Has no. intrinsic value
(c)
Is black money
(d)
Depreciates fast
A commodity will face relatively less elastic demand curve if it
(a)
Has many substitutes
(b)
(c)
Has greater proportion in household budget (d)
Is a luxury item
Is an essential
Which of these is not an essential assumption of law of diminishing marginal utility concept
(a)
Different units consumed should be identical
(b)
Consumers taste and preference should not change
(c)
There should be some time gap between consumption
(d)
The different units consumed should consist of standard unit
Bilateral monopoly is where there is:
(a)
Single buyer and single seller
(b)
Single buyer and many seller
(c)
Many buyer and single seller
(d)
None of the above
In the case of Giffin goods, the demand curve will be
(a)
U-shaped
(b)
Backward sloping to the left
(c)
Upward sloping to the left
(d)
Usual demand curve like other goods
(b)
Chairman Railway Board
Who presents Railway budget in India
(a)
Railway Minister
(c)
134.
135.
136.
137.
138.
140.
141.
143.
Secretary, Railway
(a)
A horizontal line
(b)
Positive sloped
(c)
Parallel to Y axis
(d)
Downward sloping
The AR curve of a firm in perfect competition market will have
(a)
Demand curve
(b)
Supply curve
(c)
Total cost curve
(d)
Profit curve
In the long run a firm in perfect competition market will have
(a)
Normal profit
(b)
Super normal profit
(c)
Just revenue equal to cost
(d)
None of these
.....said “when six economist gathers there are seven opinion”
(a)
Barbara Wotten
(b)
Hicks
(c)
Samulson
(d)
Keynes
If prices of apples rises from Rs. 40 to Rs. 50 per kg. the demand for apples falls. From 60 per
month to 45 per month, the elasticity of apple is
1.5
(b)
-1.25
(c)
1.0
(d)
1.75
(d)
IACR
If total production increases in the short run, the total cost will also
(a)
Increase due to increase in fixed cost
(b)
Increase due to increase in variable cost
(c)
Increase due to increase in total cost
(d)
Remain constant
Supply refers to the quantity which a firm is
(a)
Willing to produce at a given price
(b)
Willing to supply at a given price
(c)
Willing to store at a given price
(d)
Willing to order at a given price
In India GDP estimates are released by...........
(a)
142.
(d)
The demand curve of a firm under perfect competition is also called
(a)
139.
Finance Minister
CSO
(b)
CGA
(c)
APC
Which of these is a normative statement
(a)
To reign in inflation the Central Bank should contain money supply
(b)
Population explosion has led to strain on economic resource
(c)
Industrialization has created new areas of opportunities in urban sector
(d)
Globalization has opened new areas of opportunities for the entrepreneurs
Balance of payment accounts are prepared on
(a)
Single entry system basis
(b)
Double entry accounting system
(c)
Double accounts basis
(d)
None of these
(b)
Higher cost
basis
144.
Higher indifference curve indicates
(a)
Higher level of satisfaction combination
(c)
145.
146.
147.
(d)
Lower level of satisfaction
In the long run price is governed by
(a)
Cost of production
(b)
Demand supply forces
(c)
Marginal utility
(d)
None
The term “FRBMA” stands for
(a)
Fiscal Responsibility and Budget Management Act
(b)
Fiscal Regulation and Banking Management Act
(c)
Fiscal Regulation and Budget Management Act
(d)
Financial Regulation and Banking Management Act
Foreign currency reserves of the country are held by
(a)
148.
Lower cost
SBI
(b)
CBI
(c)
UTI
(d)
RBI
Tea and Coffee are perfect substitute of each other, given the price of Tea and Coffee being Rs.
100 and Rs. 200 per kg. a consumer is prepared to buy 3 kg. of each.
If the price of tea remains the same and the price of Coffee rises to Rs. 400 per kg. the
demand for Tea goes to 6 kg and that of Coffee falls to 1 kg. The elasticity of substitution
between Tea and Coffee is
(a)
149.
(b)
4
(c)
5
(d)
3
X a consumer spends his entire income on two commodities A and B. If price of A increases
by 10% and his expenditure on item B remains same, then the price elasticity of item A is
(a)
150.
1
1
(b)
<1
(c)
>1
(d)
-1
Change in price of the goods causes
(a)
Change in quantity demand
(b)Shift in demand curve
(c)
Change in price
(d)No effect on quantity demanded
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PART B- QUANTITATIVE APTITUDE(50 marks)
Q.151 For tabulation ‘caption’ is :
(a) The lower part of the table
(b) The main part of the table
(c) The upper part of the table
(d) The upper part of a table that describes the column and sub-column
Q.152 Which method of collection of data covers the widest area ?
(a) Direct interview method (b) Mailed questionnaire method
(c) Telephone interview method
(d) All of the above
Q.153 Coefficient of correlation is –
(a) G.M. of the coefficients of regression
(b) A.M of the coefficients of regression
(c) H.M. of the coefficients of regression
(d) Product of G.M and A. M of the regression coefficients
Q.154 ……. is useful in averaging ratios, rates and percentages.
(a) A. M
(b) G.M
(c) H. M
(d) None of these
Q.155. The average salary of a group of unskilled workers is Rs 10,000 and that of a group of skilled workers
is Rs 15000. If the combined salary is Rs 12000, then what is the percentage of skilled workers?
(a) 40%
(b) 50 %
(c) 60 %
(d) none of these
Q.156 Coefficient of variation is independent of the unit of measurement.
(a) True
(b) False
(c) Both
(d) none of these
Q.157 The M.D of the variates 40, 62, 68, 76, 54 from A.M is .
(a) 9.4
(b) 10
(c) 11
(d) 10.4
Q.158 In a non-leap year, the probability of getting 53 Sundays or 53 Tuesdays or 53 Thursdays is :
(a) 4/7
(b) 2/7
(c) 3/7
(d) 1/7
Q.159 For a given sample of 200 items drawn from a large population, the mean is 65 and the standard
deviation is 8. Find the 95% confidence limits for the population mean:
(a) [67.11, 63.89]
(b) [66.11, 63.89]
(c) [68.11,65.89]
(d) none of these
Q.160. When every member in population has an equal chance of being selection, then that sampling is called
(a) Restrictive
(b) Purposive
(c) Subjective (d) none restrictive
Q.161 Examine the validity of the following :
Mean and standard deviation of a binomial distribution are 10 and 4 respectively.
(a) not valid
(b) valid
(c) Both (a) and (b)
(d) neither (a) nor (b)
Q.162 The coefficient of correlation between X and Y is 0.6. U and v are two variables defined as U = (x-3)/2,
V=(y-2)/3, then the coefficient of correlation between U and V is :
(a) 0.6
(b) 0.4
(c) 0.8
(d) 1
Q.163. Variance of first n natural number is –
(a) √n2-1/12
(b) n2-1/12
(c) √n-1/12
(d) (n-1)2/12
Q.164. Two variable x and y are given by y = 7x+30. If median of x is 7 then median of y is(a) 37
(b) 23
(c) 49
(d) 79
Q.165. The rank correlation coefficient for some pair of observations is 0.75 . If the sum of the squares of the
difference in rank is 21, then the number of pairs of observations is –
(a) 9
(b) 8
(c) 11
(d)12
Q.166 The probability that a number selected at random from 1 to 100 is a multiple of 5 or 6 is –
(a) 0.36
(b) 0.33
(c) 0.32
(d) none
Q.167 The standard deviation of binomial distribution is –
(a) (npq)2
(b) √nq(1-q)
(c) √nq(1-p)
(d) n√pq
Q.168 A box contains 200 items and it is known that 2% of the items are defective. Then the percentage of
boxes having maximum 2 defective item is [Give that e-4 =0.0183]
(a) 23.8%
(b) 76.3%
(c) 87.5%
(d) 25.2%
Q.169. If the point of the inflexion of a normal distribution are 30 and 50 then the values of parameters are –
(a) μ=40, σ= 10
(b) μ=80, σ= 10
(c) μ=80, σ= 100
(d) none
Q.170 Two regression equations are 3x+2y = 26 and 6x+y = 31. Then means of x and y are –
(a) (4,7)
(b) (6,7)
(c) (4,6)
(d) (5,6)
Q.171 Purchasing power of money is –
(a) equal to price index
(b) Reciprocal of price index
(c) Directly proportional to price index
(d) None
Q.172 Consider the two regression lines 3x+2y= 26 & 6x+y = 31. Find the correlation coefficient between x &
y.
(a) 0.5
(b) -0.5
(c) 0.6
(d) none of these
Q.173 Which one of the following is a true statement ?
(a) ½ (bxy +byx) =r
(b) ½ (bxy +byx) < r
(c) ½ (byx +byx) >r
(d) none of these
Q.174 During a certain period, the cost of living index number goes up from 110 to 200 and the salary of the
worker is also raised from Rs 3250 to Rs 5000. Does the worker really gain?
(a) No
(b) Yes
(c) cannot determine (d) none of these
Q.175 When the prices or quantities of all the goods are charging in the same ratio then the Laspeyre’s and
Paasche’s Index Number will be –
(a) Equal
(b) Unequal (c) Either (a) or (b)
Q.176 If(3x-4)/4≤ 5/12, the solution set is :
(d) none of these
(a) {x : 19/18 ≤ x ≤ 29/18}
(b) {x : 7/9 ≤ x ≤ 17/9}
(c) {x : -29/18 ≤ x ≤ -19/18}
(d) none of these
Q.177 Vipul purchases a car for RS 5,50,000. He gets a loan of Rs 5,00,000 at 15% p.a. from a Bank
and balance Rs 50,000 he pays at the time of purchase. He has to pay the whole amount of loan in 12
equal monthly installments with interest starting from the end of the first month. The money he has to
pay at the end of every month is: [Given (1.0125)12 = 1.16075452]
(a) Rs 45,130.43
(b) Rs 45,230.43
(c) Rs 45330.43
(d) none of these
Q.178 The annual birth and death rates per 1000 are 39.4 and 19.4 respectively. The number of years
in which the population will be doubled assuming there is no immigration or emigration is :
(a) 35 years
(b) 30 years
(c) 25 years
(d) none of these
Q.179 Two equal sums of money were lent at simple interest at 11% p.a. for 3 ½ years and 4 ½ years
respectively. If the difference in interests for two periods was Rs 412.50, then each sum is :
(a) Rs 3250
(b) Rs 3500
(c) Rs 3750
(d) Rs4350
Q.180 A boy has 3 library tickets and 8 books of his interest in the library of these B, he does not want
to borrow mathematics part-II unless mathematics part-I is also borrowed? In how many ways can he
choose the three books to be borrowed?
(a) 41 (b) 51 (c) 61 (d) 71
Q.181 Six persons A, B,C,D, E and F are to be seated at a circular table. In how many ways can this be
done, if A must always have either B or C on his right and B must always have either C or D on his
right?
(a) 3
(b) 6
(c) 12 (d) 18
Q.182 If 13C6 +2 13C5 +13C4 = 15Cx then, x = ------(a) 6
(b) 7
(c) 8
(d) 9
Q.183 Sum of series 1 + 4/5 + 7/52 + 10/53 + …. ∞ is –
(a) 15/36
(b) 35/36
(c) 35/16
(d) 15/16
Q.184 Geometric Mean of P, P2, P3 …. , Pn will be ;
(a) Pn+1
(b) P(1+n)/2
(c) P n(n+1)/2
(d) none of the above
Q.185 If the ratio of the sum of n terms of two AP's is (7n +1) ; (4n+27), then the ratio of their 11th
terms is(a) 4 : 3
(b) 3 : 4
(c) 2 : 3
(d) 3 : 2
Q.186 The ratio of third proportional to 12 and 30 and the mean proportional between 9 and 25 is :
(a) 2 : 1
(b) 5 : 1
(c) 7 : 15
(d) 9 : 14
Q.187 If m and n are whole numbers such that mn = 121, then the value of (m-1)n+1 is :
(a) 1
(b) 10
(c) 121
(d) 1000
3
Q.188 If log 2 = x, log3 = y and log 7 =z, then the value of log (4. √63) is :
(a) 2x+(2/3)y –(1/3) z
+(1/3) z
(b) 2x+(2/3)y +(1/3) z
(c) 2x-(2/3)y +(1/3) z (d) -2x+(2/3)y
Q.189 A number consists of two digits. The digit in the 10th place is three times the digit in unit place.
If 54 is subtracted from the number. The digits are reversed, the number is :
(a) 39
(b) 92
(c) 93
(d) 94
Q.190 The orthocenter of the triangle formed by Bounded by the line 3x-y = 9 x-y=5 2x-y=8 is :
(a) (0,0)
(b) (-6,1)
(c) (6, -1)
(d) -6, -1)
Q.191 If the roots of x2+ax +2=0 differ by unity, then :
(a) a = 3
(b) a = 1
(c) a = 6
(d) a= -6
Q.192 If n(A) = 7 n(B) = 3 then what are the minimum and maximum number of elements in AUB .
(a) 7, 10
(b) 3, 10
(c) 3, 7
(d) none of these
Q.193 Range set of a constant function is –
(a) single ton set
(b) null set
(c) none (d) infinite set
Q.194 In a survey of 600 students in school 150 students were founds to be drinking tea and 225
drinking. Coffee 100 were drinking both tea and coffee. Find how many students were drinking neither
tea nor coffee.
(a) 325
(b) 225
(c) 335
(d) none of these
Q.195 lim ((x+x2+x3+…xn )–n)/ x-1
x
1
(a) (n+1)/2
(b)( n(n+1))/2 (c) n(n+1)
(d) none of these
Q.196 lim (8x-4x-2x +1) /x2
x 0
(a) log 4
(b) log 2
(c) log4. log 2 (d) none of these
3ax+b if x>1
Q.197 If the function f(x) is giving by f(x) = 11
if x = 1 is continuous at
5ax-2b if x<1
x = 1 find the value of a and b is equal to .
(a) 3, 2
(b) -3, 2
(c) -3, -2
(d) 3, -2
Q.198 If y=2x, then dy/dx is equal to(a) 2x.log2.3x2 (b) 3.2x (c) 3x2.2x (d) none of these
Q.199 ∫ 5 .5 .5x dx
(a) 55 +C
(c)55 /(log5)3 + C
(b) 55 /(log5)3 +C
(d) none of these
1
Q.200 ∫0 𝑥(1 − 𝑥)n dx
(a) 1/(n+1)
(b) 1/(n+2)
(c) 1/(n+1)(n+2)
(d) none of these
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