(Paper) CA-CPT Previous Year Question Paper "December - 2015", Session-2

(Paper) CA-CPT Previous Year Question Paper "December - 2015"

Session - 2

Part A – General Economics

1. Cobb – douglas production function studies about:

a) Increasing returns to scale
b) Constant returns to scale
c) Diminishing returns to scale
d) None of the above

2. Macro Economics is also called as ______ economics.

a) Applied
b) Aggregate
c) Experimental
d) None of the above

3. If the marginal (additional) opportunity cost is a constant, then the PPC would be a ______

a) Convex.
b) Straight line.
c) Backward bending.
d) Concave.

4. A firm’s average total cost is Rs. 300 at 5 Units of output and Rs.320 at 6 units of output. The marginal cost of producing the 6th unit is:

a) Rs.20
b) Rs.120
c) Rs. 320
d) Rs.420

5. The kinked demand curve model of oligopoly assumes that

a) Response to a price increase is less than the response to a price decrease
b) Response to a price increase is more than the response to a price decrease
c) Elasticity of demand is constant regardless of whether price increases or decreases.
d) Elasticity of demand is perfectly elastic if price increases and perfectly inelastic if price decreases

6. In case of perfect substitutes, Cross elasticity of demand is ____

a) Zero
b) Infinite
c) One
d) None

7. A firm producing 7 units of output has an average total cost of Rs. 150 and has to pay Rs.350 to its fixed factors of production whether it produces or not. How much of the average total cost is made up of variable costs.

a) Rs.200
b) 50
c) Rs.300
d) 100

8. Which of the following equations of cost is incorrect?

a) TVC = TC – TFC
b) AFC = AC – AVC
c) MC = TC / Output
d) AC = AVC + AFC

9. Match the following:

10. A competitive firm in the short run incur losses. The firm continues production, if:

a) P > AVC
b) MC = MR = P
c) P < AVC
d) MC = AC = AR

11. Product heterogeneity is a common feature in

a) Perfect competition
b) Monopolistic competition
c) Oligopoly
d) Monopoly

12. Which of the following is related to Law of variable proportions is correct?

a) When MPP is greater than APP that is increasing returns occurs at first stage
b) So long as MPP is higher than APP that is called increasing returns
c) Both MPP and APP are falling and both are not equal to zero
d) None of the above

13. Supply curve in case of perfectly Elastic:

a) Parallel to X – axis
b) Parallel to Y – axis
c) Convex to origin
d) 45° with X – axis & Y – axis

14. Which one of the following is not correct for deductive method:

a) Law of diminishing marginal utility analysis is based on deductive method.
b) Law of demand is based upon deductive method
c) Deductive method proceeds from particular to general.
d) It is also called abstract or analytical or priori method.

15. At the best level of output the condition under monopolist is _____

a) TC is Maximum
b) TR is Maximum
c) TC is Parallel to TR
d) TC is equal to TR

16.

Q	0	1	2	3	4
TC	240	200	400	600	800

AVC at 2nd unit

a) 80
b) 100
c) 120
d) 200

17. AFC is 20 at 4 units of output what will be it at 8 units of output

a) 80
b) 40
c) 20
d) 10

18. If Rs.1,000 of variable cost at 4 units and fixed cost is Rs.400. Then find out AC at 4 units?

a) 250
b) 150
c) 350
d) 200

19. On the basis of the due date given below what will be the volume of budget deficit

a) Revenue receipts Rs.5,72,811 crores
b) Capital receipts Rs.4,51,676 crores

i. Loan recovered other receipts Rs.33,194 crores
ii. Borrowing & other liability Rs.4,18,482 crores

c) Revenue expenditure Rs.9,11,809 crores
d) Capital expenditure Rs.1,12,678 crores

a) Rs.Rs.11,350 crores
b) Rs.12,350 crores
c) Rs.44,650 crores
d) Zero.

20. Which cities are involved in developing Golden Quadrilateral corridor under national highways of development project.

a) Calcutta, Mumbai, Delhi, Bangalore
b) Delhi, Calcutta, Chennai, Jaipur
c) Bangalore, Mumbai, Lucknow and Kolkata
d) Mumbai, Delhi, Chennai and Kolkata

21. Which of the following is recasted as AAJEEVIKA

a) Mahatma Gandhi National Rural Employment Guarantee Scheme
b) Swaran Jayanti Gram Swarozgar Yojana (SGSY)
c) The Swarna Jayanti Shahari Rozgar Yojana (SJSRY)
d) None of these

22. Fishing and Logging are included in which sector?

a) Primary
b) Secondary
c) Teritiary
d) None of these

23. NLM was recasted into ____ in 2009

a) Sarva Shiksha Abhiyan
b) Education for all
c) Saakshar Bharat
d) Rashtriya Madhyamik Shiksha Abhiyan

24. Suppose a shopkeeper buys inputs worth Rs.50,000 and his sales are worth Rs.1,00,000 in a month. The input tax rate is 8% and output tax rate is 20%. What is Value added tax here after set off of input tax credit?

a) Rs. 16,000
b) Rs. 26,000
c) Rs. 6,000
d) Rs.1,00,000

25. According to traditional approach money serves as

a) Medium of exchange
b) Store of value
c) Both Medium of exchange & store of value
d) None of these

26. According to RBI (1998) modified new monetary aggregates as:

a) NM1
b) NM1 , NM2
c) NM1 , NM2 , NM3
d) NM1 , NM2 , NM3 , NM4

27. Which of the following is not a function of IMF

a) It functions as Medium and long term credit institution.
b) It provides machinery for the orderly adjustment of exchange rates
c) It is a sort of lending institution in foreign exchange.
d) It monitors economic and financial development of the member countries

28. Farm credit package was introduced in the year

a) 1991
b) 2005
c) 2001
d) 2004

29. Sex Ratio is favourable to Women in which State?

a) Kerala
b) Andhra Pradesh
c) Bihar
d) Madhya Pradesh

30. National Manufacturing policy was introduced in the year_____

a) July 1991
b) Nov 2001
c) Nov 2011
d) Dec 2014

31. Which of the following is not a method of privatization?

a) Franchising and Leasing
b) Divesture
c) Disinvestment
d) Removed tariffs and other restrictions

32. Which of the following is used to control inflation?

a) Reducing CRR
b) Reduce Public Expenditure
c) Curtailing of Supply
d) Decreasing SLR

33. Which of the following is not a main objective of Nationalization of Commercial Banks

a) Giving credit to Priority sector like Agriculture
b) To eliminate control by few banks
c) Giving Professional bent to management
d) To maximize profits of the Govt.

34. Which of the following statements is incorrect?

a) National food Security mission (NFSM) was launched in different states to have self sufficiency in different crops.
b) ‘Project Arrow’ is associated with the postal department of India
c) ‘Special Drawing Rights’ are linked with IMF.
d) ‘Cafeteria Approach’ is linked with the development of hotels & tourism in India.

35. Mark the incorrect statement

a) Abolition of Zamindari system was the most remarkable land reform measures in the economic history of Independent India.
b) The total food grain production for 2014 – 15 is estimated 257 million tonnes.
c) National green tribunal monitors achievements of green revolution.
d) NABARD deals with reference to agricultural & rural development

36. Capital Account Convertibility is done by_____

a) Tara pore committee -II
b) Ujjit Patel committee
c) Narasimhan committee
d) Siva Raman Committee

37. Which of the following committee modified direct and indirect taxes?

a) Chellaiah committee
b) Booth Lingam committee
c) Both a) & b)
d) None of the above

38. Which of the following is related to Dependency Ratio?

a) Dependents to total population
b) Dependents to working age group
c) Dependents to male members
d) Dependents to non-working age group

39. Personal Disposable income is equal to Personal income

a) Minus personal direct taxes
b) Plus indirect taxes
c) Minus total taxes
d) Minus subsidies

40. Plant Load Factor is used to measure ______

a) Efficiency of Atomic plant
b) Efficiency of Thermal plant
c) Efficiency of Hydel plant
d) Efficiency of machinery

41. Janani Suraksha Yojana was started with an aim to____

a) Bring down Infant Mortality rate in India
b) Bring down Maternal Mortality rate in India
c) Improving Healthcare of Mother and Child
d) Increase care to Pregnant Women

42. The co-existence of raising prices and fall in demand leading to unemployment is called __

a) Economic recession
b) Stagflation
c) Deflation
d) Depression

43. IFSC is _____ digit alphanumeric code which is an unique for each branch of a bank

a) 8
b) 7
c) 9
d) 11

44. If National domestic capital at factor cost is Rs.4635 crores, subsidies are Rs.50 crores, Factor income from abroad is Rs.40 crores, Factor income paid is Rs.50 crores, Depreciation is Rs.200 crores then National Income is ____

a) 5635
b) 5675
c) 5625
d) 4625

45. All of the following developments were noticed during 1991 (when economic reforms were enforced) except one. Identify it.

a) National debt was nearly 60 per cent of the GNP of India.
b) Inflation crossed double digits.
c) Foreign reserves were maintained at a very high level
d) None of the above

46. In persuasion to prevent and regulate the credit of commercial banks by Central Bank, which of the following is followed?

a) Decrease CRR
b) Decrease SLR
c) Moral Suasion
d) Direct action

47. Balance of Current A/c includes

a) Balance of trade & Balance of Service (visible)
b) Balance of trade, Balance of Service (visible & invisible)
c) equal to balance of capital A/c.
d) Balance of trade, Balance of Service (visible & invisible), unilateral transfers

48.

49.

50.

Part B – Quantitative Aptitude

a) 7
b) 9
c) 17
d) 5

52. If a2 + b2 = 7ab then log(a + b) =

53. U = {x/x is a positive integer less than 15}.

A = {2,8,10,14} B = {3,6,8,14} then

a) (A∩B)’=A’∪B’
b) (A∩B)’=A’∩B’
c) (A’∩B)’= Φ
d) (A∩B)’= Φ

55. If a, b, c are in G.P & x, y be AM’s between a, b & b, c respectively then a/x + c/y =

a) 1
b) 2
c) 3
d) 0

56. The first terms of two G.Ps are equal and 3rd term of Ist GP and 5th term of second GP are equal then the ratio of 67th term of Ist GP to 133 rd term of 2nd GP is ____

a) 1: 1
b) 1: 2
]c) 4: 3
d) 2: 3

57. A man earns 10,000 P.M. His salary increases by 200/- per year. What is his total salary in 5 years?

a) 3,12,000
b) 6,14,000
c) 6,24,000
d) 90,000

58. The length of the median of D ABC through the vertex B is ___ if the vertices are A(1,2); B(2, -1); C(3,4)

59. The graph to express the inequality y ≥ 3x is

61. If the sum of the roots of quadratic equation is ‘3’ and the sum of the cubes of the roots is ‘7’ then the equation is

a) x2 – 3x + 1 = 0
b) 3x2 -9x+27 = 0
c) 9x2 – 27x + 20 = 0
d) 9x2 – 27x + 10 = 0

62. If the difference between the corresponding roots of the equations x2 + ax + b = 0 and x2 + bx + a = 0 is same and a ≠ b then

a) a + b + 4 = 0
b) a – b + 4 = 0
c) a + b – 4 = 0
d) a – b – 4 = 0

a) Y
b) Y2
c) Y3
d) Y5

If Y = a. emx + b e –mx then d2y/dx2 =

a) Y
b) Y.m2
c) Y/m2
d) Y2 /m

65. If the curve Y2 = AX4 + B passes through the point P(1,2). The value of dx/ dy at P is 4. Then

a) A = 0, B = 4
b) A = 1, B = 2
c) A = 2, B = 0
d) A = 4, B = 0

a) 0
b) 3/2
c) -3/2
d) 5/2

68. How many permutations can be formed from the letters of the word “PARALLEL” in which 3L’s do not come together?

a) 4436
b) 3360
c) 3000
d) 360

69. In how many ways that 8 members including the President & Vice president can be arranged at a round table so that the president and Vice president do not come together is ___

a) 3600
b) 40320
c) 4320
d) None

70. How many numbers can be formed using the digits 2,3,4,1,6 that are greater than 1000 is _

a) 120
b) 240
c) 188
d) 144

71. X varies as cube of Y & Y varies as 5th root of Z and X varies as nth power of ‘Z’ then n =

a) -2/3
b) 3/5
c) 5/3
d) -9/2

72. Instead of walking along two adjacent sides of a rectangular field, a boy took short cut along the diagonal and saved a distance equal to the half of the longer side. Then the ratio of shorter side of the rectangular field to its longer side is _______

a) 4 : 3
b) 3 : 4
c) 3 : 2
d) 2 : 3

73. If the ratio of two numbers is 3: 5. If 9 is subtracted from each then the ratio becomes 12: 23. Then the largest number is ___

a) 45
b) 55
c) 60
d) 58

74. Rs.3,000 is payable at the end of each year at the rate of 9% compounded annually for 3yrs then the amount of annuity will be:

a) 9800
b) 9000
c) 9434.3
d) 9843.3

75. Useful life of a machine is estimated to be 10 years and the cost of asset is Rs.10,000. If the rate of depreciation is 10% p.a., then the scrap value is ____

a) 3486.78
b) 4383
c) 3400
d) 4000

76. For two events A, B which of the following is true?

a) P(A∩B) ≤ P(A)
b) P(A∪B) ≤ P(A) + P(B)
c) P(A) ≤ P(A∪B)
d) All of the above

77. The probability of getting atleast 3 heads in 8 tosses of an unbiased coin is ______

a) 256 /197
b) 256 /199
c) 256 /219
d) 256 /217

78. If 7:6 are the odds favour for the person ‘A’ will alive 5 years hence and 5: 3 are the odds favour for the person ‘B’ will alive 5years hence, then the probability for atleast one will alive 5 years hence is