(Paper) CA-CPT Previous Year Question Paper "December - 2016"
Session - 2
PART A – GENERAL ECONOMICS
1. Conspicuous goods are also called as:
- a. Veblen
- b. Snob
- c. Prestigious
- d. All of the above
2. A relative price is _____
- a. Price expressed in terms of money
- b. What you get paid for baby sitting your cousin
- c. The ratio of one money price to another
- d. Equal to a money price
3. In case of a straight line demand curve meeting the two axes, the price
elasticity of demand at the Y-axis of the line would be:
- a. Infinity
- b. Equal to 1
- c. Zero
- d. Less than 1
4. If income increases by 10% and demand increases by 5%, then income
elasticity of demand is:
- a. +0.5
- b. -0.5
- c. +0.05
- d. -0.05
5. Supply is a ___ concept.
- a. Flow
- b. Stock
- c. Both Flow & Stock
- d. Qualitative
6. Elasticity of supply refers to to the percentage change in supply
divided by ____
- a. Percentage change in income
- b. Percentage change in price
- c. Percentage change in demand
- d. Percentage change in cost
7. Concept of consumer surplus is based on :
- a. Law of Diminshing Marginal utility
- b. Law of Equi-Marginal utility
- c. Law of Diminshing returns
- d. Engel’s law
8. which among the following is not a characterstic of land?
- a. Land is an active factor
- b. Its power is indestructible
- c. Variety of uses
- d. Its supply is limited
9. Which is not a characteristic of labour?
- a. Labour is not separable from labourer
- b. Labour is not a mobile factor
- c. Labour is not a mobile factor
- d. Labour is an active factor
10. Average Product raises due to an increase in variable input, then
Marginal Product is :
- a. More than AP
- b. Less than AP
- c. Equal to AP
- d. None
11. Suppose the first four units of a variable input generate
corresponding total outputs of 150, 200, 350 and 550. The marginal product of
the third unit of input is:
- a. 50
- b. 100
- c. 150
- d. 200
12. Average cost of Producing 50 units of a Commodity is Rs 250 & fixed
cost is Rs. 1000 . What will be the average fixed cost of producing 100 units of
the Commodity?
13. A firm’s average fixed cost is Rs. 20 at 6 units of output. What will
it be at 4 units of output?
14. If TVC = 100, TFC = 400, then calculate ATC at 5 units.
- a. 280
- b. 250
- c. 150
- d. 300
15. The market for ultimate consumers is known as _____
- a. Whole sale market
- b. Retail market
- c. Unregulated market
- d. Regiulated market
16. In a perfect competition, who set the prices :
- a. Buyers
- b. Sellers
- c. Both buyers and sellers
- d. Government
17. Average revenue rs also known as?
- a. Supply curve
- b. Demand curve
- c. Marginal revenue
- d. Average cost
18. The price discrimination under monopoly will be possible under which
of the following coditions?
- a. The seller has no control over the supply of his product
- b. The market has the same conditions all over
- c. The price elasticity of demand is different in different markets
- d. The price elasticity of demand is uniform
19. Which of the following markets has the concept of group equilibrium in
long – run?
- a. Monopoly
- b. Perfect competition
- c. Monopolistic competition
- d. Oligopoly
20. Which is the first order condition for the profit of a firm to be
maximum?
- a. AC= MR
- b. MC= MR
- c. MR=AR
- d. AC=AR
21. Which of the following is false regarding Monopoly?
- a. Unique Product
- b. Unique Product
- c. Single Seller
- d. None of the above
22. Which of the following is another name of Production possibilities
curve?
- a. Deamand curve
- b. Indifference curve
- c. Transformation curve
- d. Supply curve
23. Freedom of choice is an advantage of:
- a. Capitalist economy
- b. Mixed economy
- c. Socialist economy
- d. Communist economy
24. Who among the following gave the definition of Economics as “Science
which deals with wealth”?
- a. Frachild
- b. A.C Pigou
- c. Adam Smith
- d. J.B. Say
25. Lionel Robbins said the following except:
- a. Scarce means
- b. Limited ends
- c. Alternative Uses
- d. Economics is science
26. In which economic system all the means of production are owned and
controlled by private individuals for profit?
- a. Socialism
- b. Mixed economy
- c. Mixed economy
- d. Communism
27. Which of the following is not a cause of under – developed country?
- a. Unemployment & poverty
- b. Over population
- c. Income inequalities
- d. Dominance of mass consumption
28. In the theory of demographic transition in the last stage:
- a. Birth rate rises, death rate rises.
- b. Birth rate rises, death rate falls
- c. Birth rate falls, death rate rises.
- d. Birth rate falls, death rate falls
29. _____ Unemployment is caused by decline in demand.
- a. Structural
- b. Technological
- c. Disguised
- d. Chronic
30. Work force refers to that part of:
- a. Labour force which is employed
- b. Population which is unemployed
- c. Population which is forced to work
- d. Labour force which is unemployed
31. Right of children to free and compulsory education Act {RTE Act) 2009,
has made free education for all children between the age of ______ fundamental
right.
- a. 5 and 14 years
- b. 6 and 14 years
- c. 7 and 14 years
- d. 8 and 14 years
32. On the basis of end use, industries are classified into:
- a. Consumer Goods, Free Goods, Large scale industries
- b. Intermediate Goods, Consumer goods, Small scale industries
- c. Capital Goods, Basic Goods, Intermediate Goods
- d. consumer Goods, Large scale industries
33. ______ is the apex bank for agriculture credit in India.
- a. RBI
- b. SIDBI
- c. NABARD
- d. ICICI
34. BPO stands for _____
- a. Bharat Petroleum Organizatio
- b. Business Process Outsourcing
- c. Big Portfolio Outstanding
- d. Business Profit Organization
35. Who is called the ‘Bank of Issue’?
- a. RBI
- b. SBI
- c. IDBI
- d. ICICI
36. ______ is the official minimum rate at which central bank of a country
is prepared to rediscount approved bills held by commercial banks.
- a. Repo rate
- b. Reverse repo rate
- c. Bank rate
- d. CRR
37. Profitability ratio of commercial banks has not improved much due to
_____
- a. Low interest on Government borrowings from banks
- b. Subsidization of credit to priority sector
- c. Increasing expenditure due to over staffing
- d. All of the above
38. _____ refers to that portion of total deposits of a commercial bank
whichit has to keep with RBI in the form of cash reserves.
- a. CRR
- b. SLR
- c. Bank Rate
- d. Repo Rate
39. Inflation can be controlled by:
- a. Fiscal measures
- b. Monetary measures
- c. Control of investments
- d. All of the above
40. Money includes:
- a. Currencies and demand deposits
- b. Bonds, government securities
- c. Equity shares
- d. All of the above
41. Which committee recommended simplification and rationalization of tax
system in India :
- a. Chelliah
- b. Bootha lingam
- c. Both a & b
- d. Urjit Patel
42. Which of the following is not a direct tax?
- a. Gift tax
- b. Corporate income tax
- c. VAT
- d. Wealth tax
43. _____ is the difference between total receipts and total expenditure.
- a. Fiscal deficit
- b. Budget deficit
- c. Revenue deficit
- d. Capital deficit
44. _____ is a systematic record of all the economic transactions between
one country and rest of the world.
- a. Balance of trade.
- b. Balance of transactions.
- c. Budget
- d. Balance of payments
45. Which of the following is not correctly matched:
- a. Liberalisation – relaxation of previous government restrictions
usually in areas of social and economic policies
- b. Privatisation – the transfer of assets or service functions from
public to private ownership
- c. Disinvestment – disposal of private sector’s unit to public sector
- d. Globalisation – integrating the domestic economy with the world
economy
46. Government has permitted up to ____% Foreign Direct Investment {FDI)
by foreign airlines in Indian airline companies.
47. Per capital income = _____
- a. NNP is divided by total population
- b. Population is divided by NNP
- c. Total capital divided by population
- d. None
48. Which of the following is not included in domestic territory?
a. Ships and aircrafts operated by1he residents of the country between two or
more countries
b. Fishing vessels, oil and natural gas rigs, and floating platforms operated
by the residents of the country
c. Embassies, consulates and military establishments of the country located
abroad
d. Personal investments by residents in abroad
49.
50.
PART B – QUANTITATIVE APTITUDE
51. Given log 2 = 0.3010 and log 3 = 0.4771 then the value of log 24
- a. 1.3081
- b. 1.1038
- c. 1.3801
- d. 1.8301
52. If 3x = 5y = (75)z then
53. If abc = 2 then the value of
- a. 1
- b. 2
- c. 1/2
- d. 3/4
- 3. SETS
54. The number of subsets formed from the letters of the word “ALLAHBAD”.
- a. 128
- b. 16
- c. 32
- d. None
55. If (x) = 100 x then f-1 (x) =
- a. x/100
- b. 1/100x
- c. 1/100
- d. None of these
56. f: R→R is defined by f (x)=2x then f is
- a. One – one and onto
- b. One – one and into
- c. Many to one
- d. One to many
57. 2.353535 ……….=
- a. 233/99
- b. 234/99
- c. 232/99
- d. 235/99
58. The number of terms of the series needed for the sum of the series
50+45+40+….. becomes zero
- a. 22
- b. 21
- c. 20
- d. None
59. A person received the salary for the 1st year is Rs. 5,00,000 per year
and he received an increment of Rs. 15,000 per year then the sum of the salary
he taken in 10 years
- a. Rs. 56,75,000
- b. Rs. 72,75,000
- c. Rs. 63,75,000
- d. Rs. None of these
60. A triangle formed by the lines y = 0, x + 2y = 3, 2x – y = 1
- a. Isosceles triangle
- b. Equilateral triangle
- c. Right angled triangle
- d. None of these
61. The inequalities
x1 +2x2 <5,x1 +x2 2>1,x1>0,x2>0 represents the
region
62. Particular company produces some articles on a day. The cost of
production per article is Rs.2 more than thrice the number of articles and the
total cost of production is Rs.800 on a day then the number of articles is
63.
- a. 77/98
- b. 9/7
- c. 7/9
- d. 99/77
Finance
minister Arun Jaitley Wednesday proposed to establish a National Testing Agency
(NTA) which will conduct all academic entrance examinations and free education
bodies like Central Board of Secondary Education (CBSE) and All India Council
for Technical Education (AICTE) from administration work related to
examinations.
