(Paper) CA-CPT Previous Year Question Paper "December - 2016"

(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?

• a. 10
• b. 30
• c. 20
• d. 5

13. A firm’s average fixed cost is Rs. 20 at 6 units of output. What will it be at 4 units of output?

• a. 60
• b. 30
• c. 40
• d. 20

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.

• a. 26
• b. 49
• c. 51
• d. 74

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

• a. 16
• b. 14
• c. 18
• d. 15

63.

• a. 77/98
• b. 9/7
• c. 7/9
• d. 99/77

64.

• a. 1
• b. 1/2
• c. -1/2
• d. -1

65.

Is continuous at x = – a then the value of K is

• a. -3a2
• b. -2a2
• c. 3a2
• d. 2a2

67.

• a. 1
• b. 0
• c. √3
• d. +√2

68.

• a. e-1
• b. ee
• c. ee-1
• d. None

69. How many numbers between 1000 and 10,000 can be formed with the digits 1, 2, 3, 4, 5, 6

• a. 720
• b. 360
• c. 120
• d. 60

70. If (n+2)c1+1 : nc1 : n-1c1-1 = 8:3:1 then find the value of n

• a. 14
• b. 15
• c. 16
• d. 17

71. In how many ways 4 members can occupy 9 vacant seats in a row

• a. 3204
• b. 3024
• c. 49
• d. 94

72. A bag contains 23 number of coins in form of 1 rupee, 2 rupee and 5 rupee coins. The total sum of the coins is Rs. 43. The ratio between 1 rupee & 2 rupee coins is 3:2. Then the number of 1 rupee coins

• a. 12
• b. 8
• c. 10
• d. 16

73. The difference between the simple interest and compound interest on a certain sum of money invested for 2 years at 5% p.a. is Rs.30. Then the sum=

• a. 10,000
• b. 12,000
• c. 13,000
• d. None

74. If a person lends Rs.6,000 for 4 years and year at the rate of 4% compounded semiannually then the sum invested is

• a. 7,000
• b. 7,500
• c. 7,750
• d. 8,000

76. The G.M of observations 40, 50 and x is 10, then find the value of x?

• a. 4
• b. 5
• c. 2
• d. 1/2

77. If the mean of data is 55.6 and the mode is 46, then the ,edian is ______

• a. 50.4
• b. 40.7
• c. 52.4
• d. None

78. ________ is used for ordering the size of designed cloths.

• a. Mean
• b. Median
• c. Mode
• d. None

79. The mean of 10 observations is 14.4. Out of these mean of 4 observations is 16.5, then find the mean of remaining observations?

• a. 13.6
• b. 13
• c. 13.8
• d. 12

80. The mean of 6,4,1,5,6,10 and 3 is 5. If each number is added with 2, then the new mean is

• a. 7
• b. 5
• c. 6
• d. 10

81. If the sum of the square of rank differences in the marks of 10 students in two students is 44 then the coefficient of rank correlation is ______

• a. 0.78
• b. 0.73
• c. 0.87
• d. None

82. Regression coefficient is affected by _____

• a. Change of origin
• b. Change of Scale
• c. Both origin & Scale
• d. Neither origin nor scale

83. Regression lines are passes through the _____ points

• a. Mean
• b. Standard deviation
• c. Both a) & b)
• d. None

84. If the regression line of x on y is 3x+2y = 100, then find the value of bxy?

• a. -2/3
• b. 10/3
• c. 3/2
• d. 2/3

85. Index numbers are used in

• a. Economics
• b. Statistics
• c. Statistics
• d. None

86. From the following data

The Paasche’s price index number is:

• a. 146.41
• b. 148.25
• c. 144.25
• d. None

87. The time reversal test is satisfied by _____ index number.

• a. Laspeyre’s
• b. Paasche’s
• c. Fisher’s
• d. None

88. Difference modes of presentation of data are ____

• a. Textual
• b. Tabular
• c. Both a) & b)
• d. None

89. For construction of Histogram the class intervals of frequency distribution is

• a. Equal
• b. Unequal
• c. Either Equal or Unequal
• d. None

90. In ______ method(s) information can be gathered by the researcher humself by contacting the interviewee.

• a. Personal Interview
• b. Telephone Interview
• c. Both a) & b)
• d. Indirect oral

91. Profits made by XYZ bank in different years refers to _____

• a. Attribute
• b. Discrete variable
• c. Continuous variable
• d. None

92. A bag contains 6 green and 5 red balls. One ball is drawn at random. The probability of getting a red ball is?

• a. 5/11
• b. 6/11
• c. 5/6
• d. None

• a. 1/4
• b. 1/6
• c. 2/3
• d. 1/2

• a. Independent and mutually exclusive
• b. Independent but not mutually exclusive
• c. Mutually exclusive but not independent
• d. Neither independent nor exclusive

95. In _____ distribution mean= variance.

• a. Binomial
• b. Normal
• c. Poisson
• d. t

96. ______ is / are Biparametric distribution(s).

• a. Binominal
• b. Poisson
• c. Normal
• d. Both a) & b)

97. In Poisson distribution µ4 = 2, then find µ2.

• a. 2
• b. 4
• c. 2/3
• d. 1/2

98. The second & third moments of observations (-6,-4,-2,0,2,4,6) are ______

• a. (12,0)
• b. (0,12)
• c. (16,0)
• d. (0,16)

99. If x &y are two independent normal variates with means µ1 & µ2 and standard deviations o1 & o2 respectively, then x+y follows ______

100. According to Neyman’s allocation, in stratified sampling

• a. Sample size is proportional to the population size
• b. Sample size is proportional to the sample SD
• c. Sample size is proportional to the sample variance
• d. Population size is proportional to the sample variance

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