GATE 2023 Humanities and Social Sciences – Economics (XH-C1) Question Paper PDF is available here for download. IIT Kanpur conducted GATE 2023 Humanities and Social Sciences – Economics (XH-C1) exam on February 5, 2023 in the Forenoon Session from 09:30 AM to 12:30 PM. Students have to answer 65 questions in GATE 2023 Humanities and Social Sciences – Economics (XH-C1)s Question Paper carrying a total weightage of 100 marks. 10 questions are from the General Aptitude section and 55 questions are from Core Discipline.

GATE 2023 Humanities and Social Sciences – Economics (XH-C1) Question Paper with Solutions PDF

GATE 2023 Humanities and Social Sciences – Economics (XH-C1) Question Paper with Solutions download iconDownload Check Solutions
GATE 2023 Humanities and Social Sciences – Economics (XH-C1) Question Paper with Solutions

Question 1:

Rafi told Mary, “I am thinking of watching a film this weekend.”
The following reports the above statement in indirect speech:
Rafi told Mary that he ______ of watching a film that weekend.

  • (A) thought
  • (B) is thinking
  • (C) am thinking
  • (D) was thinking

Question 2:

Permit : ______ :: Enforce : Relax \quad (By word meaning)

  • (A) Allow
  • (B) Forbid
  • (C) License
  • (D) Reinforce

Question 3:

Given a fair six-faced dice where the faces are labelled ‘1’, ‘2’, ‘3’, ‘4’, ‘5’, and ‘6’, what is the probability of getting a ‘1’ on the first roll of the dice and a ‘4’ on the second roll?

  • (A) \(\dfrac{1}{36}\)
  • (B) \(\dfrac{1}{6}\)
  • (C) \(\dfrac{5}{6}\)
  • (D) \(\dfrac{1}{3}\)

Question 4:

A recent survey shows that 65% of tobacco users were advised to stop consuming tobacco. The survey also shows that 3 out of 10 tobacco users attempted to stop using tobacco.

Based only on the information in the above passage, which one of the following options can be logically inferred with certainty?

  • (A) A majority of tobacco users who were advised to stop consuming tobacco made an attempt to do so.
  • (B) A majority of tobacco users who were advised to stop consuming tobacco did not attempt to do so.
  • (C) Approximately 30% of tobacco users successfully stopped consuming tobacco.
  • (D) Approximately 65% of tobacco users successfully stopped consuming tobacco.

Question 5:

How many triangles are present in the given figure?

  • (A) 12
  • (B) 16
  • (C) 20
  • (D) 24

Question 6:

Students of all the departments of a college who have successfully completed the registration process are eligible to vote in the upcoming college elections. By the due date, \emph{none} of the students from the Department of Human Sciences had completed the registration process. Which set(s) of statements can be inferred with certainty?

(i) All those students who would not be eligible to vote would certainly belong to the Department of Human Sciences.

(ii) None of the students from departments other than Human Sciences failed to complete the registration process within the due time.

(iii) All the eligible voters would certainly be students who are not from the Department of Human Sciences.

  • (A) (i) and (ii)
  • (B) (i) and (iii)
  • (C) only (i)
  • (D) only (iii)

Question 7:

Which one of the following options represents the given graph?

  • (A) \(f(x)=x^2\,2^{-|x|}\)
  • (B) \(f(x)=x\,2^{-|x|}\)
  • (C) \(f(x)=|x|\,2^{-x}\)
  • (D) \(f(x)=x\,2^{-x}\)

Question 8:

Which one of the options does NOT describe the passage below or follow from it?

Passage:
We tend to think of cancer as a ‘modern’ illness because its metaphors are so modern. It is a disease of overproduction, of sudden growth, a growth that is unstoppable, tipped into the abyss of no control. Modern cell biology encourages us to imagine the cell as a molecular machine. Cancer is that machine unable to quench its initial command (to grow) and thus transform into an indestructible, self-propelled automaton.

  • (A) It is a reflection of why cancer seems so modern to most of us.
  • (B) It tells us that modern cell biology uses and promotes metaphors of machinery.
  • (C) Modern cell biology encourages metaphors of machinery, and cancer is often imagined as a machine.
  • (D) Modern cell biology never uses figurative language, such as metaphors, to describe or explain anything.

Question 9:

The digit in the unit’s place of the product \(3^{999}\times 7^{1000}\) is ______.

  • (A) 7
  • (B) 1
  • (C) 3
  • (D) 9

Question 10:

A square with sides of length \(6\,cm\) is given. The boundary of the shaded region is defined by two semi-circles whose diameters are the sides of the square, as shown. The area of the shaded region is ______ \(cm^2\).

  • (A) \(6\pi\)
  • (B) \(18\)
  • (C) \(20\)
  • (D) \(9\pi\)

Question 11:

Which word below best describes the idea of being both \emph{Spineless} and \emph{Cowardly}?

  • (A) Pusillanimous
  • (B) Unctuous
  • (C) Obsequious
  • (D) Reticent

Question 12:

Choose the right preposition to fill up the blank:
The whole family got together ___ Diwali

  • (A) of
  • (B) at
  • (C) in
  • (D) till

Question 13:

Select the correct option to fill in all the blanks to complete the passage:

The (i)______ factor amid this turbulence has been the (ii)______ of high-octane, action-oriented films such as RRR, K.G.F: Chapter 2 and Pushpa from film industries in the south of the country. Traditionally, films made in the south have done well in their own (iii)______. But increasingly, their dubbed versions have performed well in the Hindi heartland, with collections (iv)______ those of their Bollywood counterparts.

  • (A) (i) disheartening \quad (ii) failure \quad (iii) channels \quad (iv) matching
  • (B) (i) redeeming \quad (ii) outperformance \quad (iii) geographies \quad (iv) eclipsing
  • (C) (i) shocking \quad (ii) underperformance \quad (iii) cinemas \quad (iv) below
  • (D) (i) humbling \quad (ii) bombing \quad (iii) theatres \quad (iv) falling behind

Question 14:

The following passage consists of 6 sentences. The first and sixth sentences of the passage are at their correct positions, while the middle four sentences (represented by 2, 3, 4, and 5) are jumbled up.

Choose the correct sequence of the sentences so that they form a coherent paragraph:

1. Most obviously, mobility is taken to be a geographical as well as a social phenomenon.

2. Much of the social mobility literature regarded society as a uniform surface and failed to register the geographical intersections of region, city and place, with the social categories of class, gender and ethnicity.

3. The existing sociology of migration is incidentally far too limited in its concerns to be very useful here.

4. Further, I am concerned with the flows of people within, but especially beyond, the territory of each society, and how these flows may relate to many different desires, for work, housing, leisure, religion, family relationships, criminal gain, asylum seeking and so on.

5. Moreover, not only people are mobile but so too are many ‘objects’.

6. I show that sociology’s recent development of a ‘sociology of objects’ needs to be taken further and that the diverse flows of objects across societal borders and their intersections with the multiple flows of people are hugely significant.

  • (A) 3, 2, 5, 4
  • (B) 2, 3, 4, 5
  • (C) 5, 4, 3, 2
  • (D) 4, 2, 5, 3

Question 15:

The population of a country increased by 5% from 2020 to 2021. Then, the population decreased by 5% from 2021 to 2022. By what percentage did the population change from 2020 to 2022?

  • (A) -0.25%
  • (B) 0%
  • (C) 2.5%
  • (D) 10.25%

Question 16:

The words {Thin: Slim: Slender} are related in some way. Identify the correct option(s) that reflect(s) the same relationship:

  • (A) Fat: Plump: Voluptuous
  • (B) Short: Small: Petite
  • (C) Tall: Taller: Tallest
  • (D) Fair: Dark: Wheatish

Question 17:

A pandemic like situation hit the country last year, resulting in loss of human life and economic depression. To improve the condition of its citizens, the government made a series of emergency medical interventions and increased spending to revive the economy. In both these efforts, district administration authorities were actively involved.

Which of the following action(s) are plausible?

  • (A) In future, the government can make district administration authorities responsible for protecting health of citizens and reviving the economy.
  • (B) The government may set up a task force to review the post pandemic situation and ascertain the effectiveness of the measures taken.
  • (C) The government may set up a committee to formulate a pandemic management program to minimize losses to life and economy in future.
  • (D) The government may take population control measures to minimize pandemic related losses in future.

Question 18:

Six students, Arif (Ar), Balwinder (Bw), Chintu (Ct), David (Dv), Emon (Em) and Fulmoni (Fu) appeared in GATE–XH (2022).
Bw scores less than Ct in XH–B1, but more than Ar in XH–C1.
Dv scores more than Bw in XH–C1, and more than Ct in XH–B1.
Em scores less than Dv, but more than Fu in XH–B1.
Fu scores more than Dv in XH–C1.
Ar scores less than Em, but more than Fu in XH–B1.
Who scores highest in XH–B1?

  • (A) Fulmoni
  • (B) Emon
  • (C) David
  • (D) Chintu

Question 19:

Select the correct relation between \(E\) and \(F\). \quad \(E=\dfrac{x}{1+x}\) \; and \; \(F=\dfrac{-x}{\,1-x\,}\), \; with \(x>1\).

  • (A) \(E>F\)
  • (B) \(E
  • (C) \(E=F\)
  • (D) \(E<-F\)

Question 20:

A code language is formulated thus:

Vowels in the original word are replaced by the next vowel from the list of vowels, A-E-I-O-U (For example, E is replaced by I and U is replaced by A). Consonants in the original word are replaced by the previous consonant (For example, T is replaced by S and V is replaced by T).

Then how does the word, GOODMORNING appear in the coded language?

  • (A) HUUFNUSPOPH
  • (B) FIICLIQMEMF
  • (C) FUUCLUQMOMF
  • (D) HEEDATTACRH

Question 21:

The stranger is by nature no "owner of soil" -- soil not only in the physical, but also in the figurative sense of a life-substance, which is fixed, if not in a point in space, at least in an ideal point of the social environment. Although in more intimate relations, he may develop all kinds of charm and significance, as long as he is considered a stranger in the eyes of the other, he is not an "owner of soil." Restriction to intermediary trade, and often (as though sublimated from it) to pure finance, gives him the specific character of mobility. If mobility takes place within a closed group, it embodies that synthesis of nearness and distance which constitutes the formal position of the stranger. For, the fundamentally mobile person comes in contact, at one time or another, with every individual, but is not organically connected, through established ties of kinship, locality, and occupation, with any single one.

What assumptions can be made about the stranger from the passage above?

  • (A) The stranger can become an owner of soil through developing all kinds of charm in more intimate relations.
  • (B) The stranger cannot become an owner of soil either in the physical or psychological sense.
  • (C) The stranger can become an owner of soil through establishing ties of kinship and so on.
  • (D) The stranger might become an owner of soil in the physical sense but not in the psychological.

Question 22:

L is the only son of A and S. S has one sibling, B, who is married to L’s aunt, K. B is the only son of D. How are L and D related? Select the possible option(s):

  • (A) Grandchild and Paternal Grandfather
  • (B) Grandchild and Maternal Grandfather
  • (C) Grandchild and Paternal Grandmother
  • (D) Grandchild and Maternal Grandmother

Question 23:

The following segments of a sentence are given in jumbled order. The first and last segments (1 and 5) are in their correct positions, while the middle three segments (represented by 2, 3, and 4) are jumbled up. Choose the correct order of the segments so that they form a coherent sentence:

1. Consumed multitudes are jostling and shoving inside me

2. and guided only by the memory of a large white bedsheet with a roughly circular hole some seven inches in diameter cut into the center,

3. clutching at the dream of that holey, mutilated square of linen, which is my
talisman, my open-sesame,

4. I must commence the business of remaking my life from the point at which
it really began,

5. some thirty-two years before anything as obvious, as present, as my clockridden, crime-stained birth.

  • (A) 2 – 3 – 4
  • (B) 3 – 2 – 4
  • (C) 4 – 2 – 3
  • (D) 4 – 3 – 2

Question 24:

“I told you the truth,” I say yet again, “Memory’s truth, because memory has its own special kind. It selects, eliminates, alters, exaggerates, minimizes, glorifies, and vilifies also; but in the end it creates its own reality, its heterogeneous but usually coherent versions of events; and no sane human being ever trusts someone else’s version more than his own.”

What are the different ways in which ‘truth’ can be understood from the passage?

  • (A) Truth is what can be verified by hard empirical evidence.
  • (B) Truth is based on what can be perceived by the senses.
  • (C) Truth is the product of memory that is fallible, selective and slanted.
  • (D) Truth is contingent on the observer and can only be partial.

Question 25:

A firm needs both skilled labour and unskilled labour. Skilled wage = Rs. 40{,}000 per month; unskilled wage = Rs. 15{,}000 per month. The total wage bill for 100 labourers is Rs. 23{,}75{,}000 in a month. How many skilled labour are employed? \emph{(in Integer)}


Question 26:

Select the odd word and write the option number as answer:

  • (A) Lek
  • (B) Zloty
  • (C) Diner
  • (D) Drachma
  • (E) Real

Question 27:

An individual is endowed with income of Rs. 142 and has the utility function \(U(x_1,x_2)=x_2(x_1+1)\), where \(x_1\ge 0,\; x_2\ge 0\). The unit price of \(x_1\) is Rs. 2 and the unit price of \(x_2\) is Rs. 3. The utility maximizing bundle is

  • (A) \(x_1=35,\; x_2=20\)
  • (B) \(x_1=30,\; x_2=24\)
  • (C) \(x_1=35,\; x_2=24\)
  • (D) \(x_1=30,\; x_2=20\)

Question 28:

The International Monetary Fund (IMF) began operations in the year

  • (A) 1942
  • (B) 1947
  • (C) 1945
  • (D) 1940

Question 29:

According to the {Working Group on Money Supply: Analytics and Methodology of Compilation} (1998) constituted by the Reserve Bank of India (RBI), which of the following is NOT a component of the new monetary aggregate NM\textsubscript{1}?

  • (A) Currency with the public
  • (B) Demand deposits with the banking system
  • (C) Short-term time deposits of residents
  • (D) ‘Other’ deposits with the RBI

Question 30:

Stagflation is a situation when

  • (A) both unemployment and inflation are low
  • (B) both unemployment and inflation are high
  • (C) unemployment is high but inflation is low
  • (D) unemployment is low but inflation is high

Question 31:

Consider the Keynesian consumption function \(C=\alpha+\beta Y\), where \(C\) is aggregate consumption, \(Y\) is aggregate income, \(\alpha>0\) is a constant, and \(\beta\) is the marginal propensity to consume \((0<\beta<1)\). Then, the average propensity to consume is

  • (A) \(\alpha\)
  • (B) \(\dfrac{\alpha}{Y}+\beta\)
  • (C) \(\alpha Y+\beta Y^{2}\)
  • (D) \(\alpha+\dfrac{\beta}{Y}\)

Question 32:

An analyst regressed \(Y\) on \(X_1\) and \(X_2\). If she later noticed that \(X_1=5X_2\), then which assumption of the classical linear regression model was violated?

  • (A) Homoscedasticity
  • (B) No Perfect Multicollinearity
  • (C) No Autocorrelation
  • (D) Linearity in parameters

Question 33:

Which of the following is NOT an example of non-tariff barriers?

  • (A) Voluntary export restraint
  • (B) A procurement law directing a government to buy domestically made products unless comparable foreign made products are substantially cheaper.
  • (C) Imposition of sanitary and phytosanitary measures on agricultural produce.
  • (D) An antidumping law

Question 34:

Among the following, who first proposed that internal government debt does not create a burden for the future generation?

  • (A) N. Gregory Mankiw
  • (B) Martin Feldstein
  • (C) Harvey S. Rosen
  • (D) A. P. Lerner

Question 35:

Which of the following is an example of direct tax?

  • (A) Sales tax
  • (B) Customs duty
  • (C) Individual income tax
  • (D) Excise tax

Question 36:

In the context of endogenous growth theory, the Nobel laureate Paul Romer emphasized that “ideas” are

  • (A) non-rival
  • (B) rival with medium degree of excludability
  • (C) rival with high degree of excludability
  • (D) rival with low degree of excludability

Question 37:

In the Human Development Index (HDI), the longevity is measured by

  • (A) child survival rate
  • (B) healthy life expectancy
  • (C) disability-adjusted life years
  • (D) life expectancy at birth

Question 38:

Which of the following statements is correct about the Fourteenth Finance Commission?

  • (A) The Commission was chaired by Dr. C. Rangarajan.
  • (B) The Commission recommended achieving 90 percent metering of electricity by the end of the year 2012.
  • (C) The Commission recommended an increase in the share of tax devolution to states to 42 percent of the divisible pool.
  • (D) The Commission was mandated to make recommendations for the period 2010–2015.

Question 39:

Many scholars consider the study conducted by Dandekar and Rath in the 1960s as the first systematic assessment of poverty in independent India. Which option from the following is NOT correct about the study?

  • (A) The study used the data on monthly per capita consumption expenditure (MPCE) from the 1960–61 round of the National Sample Surveys.
  • (B) The study used the identical calorie norm for rural and urban areas.
  • (C) The poverty head count ratio estimated by the study was higher for rural areas than that for urban areas.
  • (D) The study used the same poverty line for all states.

Question 40:

Which of the following statements is/are correct about the Pradhan Mantri Kaushal Vikas Yojana (PMKVY)?

  • (A) It has been a flagship scheme of the Ministry of Education.
  • (B) It was launched in the year 2010.
  • (C) The National Skill Development Corporation has been responsible for its implementation.
  • (D) One of the objectives of PMKVY has been to enable a large number of Indian youth to take up industry-relevant skill training.

Question 41:

Which of the following is/are used for testing the assumption of normality?

  • (A) Shapiro–Wilk test
  • (B) Breusch–Godfrey test
  • (C) Jarque–Bera test
  • (D) Park test

Question 42:

Suppose Amar borrows Rs. 1000 from Ujala. After one year, Ujala wants Rs. 1100 back from Amar. The yield to maturity in percent (%) on this borrowing is (round off to one decimal place).


Question 43:

A 250 ml bottle of mango juice costs USD 4 in the United States. If the exchange rate is 0.02 USD per Rupee, then the cost of the same bottle of mango juice in Rupees would be ______ (in integer).


Question 44:

The following table provides population information for different age groups in 2010 and 2017. The percentage change in old-age dependency ratio from 2010 to 2017 is ______ (round off to two decimal places).
 

Age group Population in 2010                Population in 2017               
0 to 14 years 201630 213609
15 to 64 years 899210 847552
65 years and above            232450 254474

Question 45:

A firm in perfect competition has \(TC(Q)=a+b(Q)\), where \(a\) is fixed cost and \(b(Q)\) is variable cost. What happens if the fixed cost increases?

  • (A) In the short run, the firm’s Average Variable Cost (AVC) curve will shift upwards.
  • (B) In the short run, the firm’s Average Total Cost (ATC) curve will shift upwards.
  • (C) The firm will earn higher profits.
  • (D) In the short run, the firm’s Marginal Cost (MC) curve will shift upwards.

Question 46:

The emission of greenhouse gases is an example of “bads” that are

  • (A) rival and excludable
  • (B) non-rival and excludable
  • (C) rival and non-excludable
  • (D) non-rival and non-excludable

Question 47:

Consider a closed-economy IS–LM model. The IS and LM equations are \[ Y=C(Y)+I(z)+\bar G,\qquad \frac{\bar M}{\bar P}=kY-l\,i, \]
where z\equiv i-\pi^{e. Suppose everyone suddenly expects higher future inflation (\uparrow \pi^{e). Assuming the LM curve remains unchanged, what happens in the short run?

  • (A) Equilibrium \(Y\) increases.
  • (B) Aggregate demand remains unchanged.
  • (C) Equilibrium \(Y\) remains unchanged.
  • (D) Aggregate demand shifts down.

Question 48:

Consider the following simultaneous equations model: \[ Y_t=\beta_1+\beta_2 X_t+\beta_3 X_{t-1}+\beta_4 Z_t+\mu_{1t}\quad (1),\qquad Z_t=\delta_1+\delta_2 Y_t+\delta_3 W_t+\mu_{2t}\quad (2) \]
Before estimating, identification tests (order and rank) show that equation (2) is \emph{overidentified}. Which method is appropriate to estimate equation (2)?

  • (A) Two-Stage Least Squares
  • (B) Indirect Least Squares
  • (C) Weighted Least Squares
  • (D) Ordinary Least Squares

Question 49:

An income tax system is considered progressive if the average tax rate rises with income. Consider an income tax schedule: \(T=p+tY\), where \(T\) denotes the tax liability, \(p\) is a constant, \(t\) is the constant marginal tax rate, and \(Y\) is the income. For this tax schedule to be progressive, the value of \(p\)

  • (A) must be positive
  • (B) must be negative
  • (C) must be zero
  • (D) can be any value except zero

Question 50:

Match the following (Demographic Transition Stage \(\rightarrow\) Feature):

  • (A) I \(\rightarrow\) P ; II \(\rightarrow\) Q ; III \(\rightarrow\) R ; IV \(\rightarrow\) S
  • (B) I \(\rightarrow\) P ; II \(\rightarrow\) S ; III \(\rightarrow\) Q ; IV \(\rightarrow\) R
  • (C) I \(\rightarrow\) R ; II \(\rightarrow\) S ; III \(\rightarrow\) Q ; IV \(\rightarrow\) P
  • (D) I \(\rightarrow\) S ; II \(\rightarrow\) P ; III \(\rightarrow\) R ; IV \(\rightarrow\) Q

Question 51:

Consider two countries, India and Bangladesh, and two goods, Glass Bottle and Ceramic Plate, with labour requirements (hours per unit) as below. Which of the following options is/are correct?

  • (A) India has an absolute advantage in Glass Bottle production and a comparative disadvantage in Glass Bottle production.
  • (B) India has an absolute advantage in Ceramic Plate production and a comparative disadvantage in Ceramic Plate production.
  • (C) India has an absolute advantage in Ceramic Plate production and a comparative disadvantage in Glass Bottle production.
  • (D) India has an absolute advantage in Glass Bottle production and a comparative disadvantage in Ceramic Plate production.

Question 52:

Suppose the own price elasticity of demand and income elasticity of demand are \(e_p\) and \(e_I\), respectively. Identify the correct statement(s).

  • (A) If \(1
  • (B) Luxury goods are more price inelastic and the necessities are price elastic.
  • (C) Luxury goods have \(e_I>1\).
  • (D)  If 0

Question 53:

Let \(\pi^e\) be the expected inflation rate, \(i\) be the nominal interest rate and \(r\) be the real interest rate. Which of the following statements is/are correct?

  • (A) For small values of \(r\) and \(\pi^e\), \(r \approx i - \pi^e\).
  • (B) When real interest rate is low, there are greater incentives to borrow and fewer incentives to lend.
  • (C) Real interest rate reflects the real cost of borrowing.
  • (D) If \(i = 8%\) and \(\pi^e = 10%\), then \(r\) is approximately (+) 2%.

Question 54:

Which of the following models explain(s) the upward-sloping aggregate supply curve in the short-run?

  • (A) Sticky-wage model
  • (B) Worker-misperception model
  • (C) Imperfect-information model
  • (D) Solow model

Question 55:

In a Mundell–Fleming small open economy with perfect capital mobility and fixed price level \(\bar P\), the goods market is \(Y=C(Y)+I(r^\ast)+G+NX(e)\) and the money market is \(\dfrac{M}{\bar P}=kY-\ell r^\ast\). Which policies are \emph{ineffective (no impact on income) in the short run?

  • (A) Expansionary fiscal policy under {floating} exchange rate
  • (B) Expansionary monetary policy under {floating} exchange rate
  • (C) Expansionary fiscal policy under {fixed} exchange rate
  • (D) Expansionary monetary policy under {fixed} exchange rate

Question 56:

In the context of Balance of Payments accounting, which of the following transactions is/are NOT recorded under the Current Account?

  • (A) Merchandise trade
  • (B) Unilateral transfer payments
  • (C) Purchase of international financial assets
  • (D) Purchase of foreign currency by the central bank

Question 57:

The demand and supply functions for a commodity are \(D(p)=10-2p\) and \(S(p)=-2+p\), respectively (p in USD). If the government sets a price ceiling of USD 3 per unit, then the increase in consumer surplus (USD) is \hspace{2cm} (round off to two decimal places).


Question 58:

A duopoly faces inverse demand \(p=120-Q\) (Rs.), with total output \(Q=q_A+q_B\). Firm A’s constant marginal cost is Rs.\ 20, which is exactly half of Firm B’s constant marginal cost. There are no fixed costs. If a Cournot–Nash equilibrium exists, \(Q\) is \underline{\hspace{2cm (in integer).


Question 59:

Consider the short-run cost function \(C(q)=10q^{3}-80q^{2}+300q+50\). At the minimum average variable cost (AVC), the value of marginal cost (MC) is ______ (in integer).


Question 60:

In the Keynesian Cross (zero tax), government purchase rises from Rs. 100 to Rs. 125 and equilibrium income increases from Rs. 1300 to Rs. 1400. Using this, the marginal propensity to consume (round off to two decimals) is ______.


Question 61:

Using the Ordinary Least Squares (OLS) method, a researcher estimated the relationship between initial salary (\(S\)) of MBA graduates and their cumulative grade point average (CGPA) as \(\hat S_i=\hat\beta_0+\hat\beta_1\,CGPA_i,\ i=1,2,\ldots,100\), where \(\hat\beta_0=4543\) and \(\hat\beta_1=645.08\). The standard errors of \(\hat\beta_0\) and \(\hat\beta_1\) are \(921.79\) and \(70.01\), respectively. The \(t\)-statistic for testing the null hypothesis \(\beta_1=0\) is \underline{(round off to two decimal places).


Question 62:

Let \(X\) be a random variable with pdf \(f(x)=\dfrac{1}{2\sqrt{3}}\) for \(-\sqrt{3}


Question 63:

Suppose from the estimation of a linear regression model \(Y_i=\beta_0+\beta_1X_i+e_i\) the residual sum of squares and the total sum of squares are obtained as 44 and 80, respectively. The value of coefficient of determination is ______ (round off to two decimal places).


Question 64:

A labour-augmenting production function is \(Y = K^{0.33}(AL)^{0.67}\). Given growth rates: \(g_L=1.2%\), \(g_K=3%\), \(g_A=1.5%\). Using growth accounting, the growth rate of \(Y\) per annum is ______ (round off to two decimal places).


Question 65:

A monopolist faces \(Q=\dfrac{100}{(P-1)}\) with \(P>1\). Average variable cost is \(AVC=\dfrac{4}{\sqrt{Q}}\) and fixed cost is \(10\). Find the profit–maximizing price (integer).



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