: 3 : 100 : 8 : 8 PART A

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1 Roll No : 1 : 15 Time allowed : 3 hours Maimum marks : 100 Total number of questions : 8 Total number of printed pages : 8 ART A (Answer Question No.1 which is compulsor and an two of the rest from this part.) 1. State, with reasons in brief, whether the following statements are true or false : (iv) (v) National income is studied in micro economics. A perfect competitive firm has downward sloping demand curve. Balance of paments and balance of trade are snonmous. No individual bank can create credit without the help of other banks. Since April, 1977, RBI has been publishing four alternative measures of mone suppl. ( marks each) Write the most appropriate answer from the given options in respect of the following : "Economics is on the one side a stud of wealth, and on the other, and more important side, a part of the stud of mankind." This statement is given b Adam Smith Marshall Robbins Ricardo. According to law of equi-marginal utilit, a consumer will be in equilibrium if /01/E& S 0.T.O. 15/1

2 15 : : If a shopkeeper increases the price of a commodit and as a result of it his total revenue also increases, it means the price elasticit of demand of the commodit is Less than one Greater than one Equal to one None of the above. (iv) Marginal cost and average cost are equal to each other at Minimum point of marginal cost curve Minimum point of average cost curve Diminishing part of marginal cost curve Diminishing part of average cost curve. (v) Discriminating monopol is possible, if two markets have (vi) Different elasticities of demand Equal elasticities of demand Zero elasticities of demand Infinite elasticities of demand. In which sector, the maimum percentage of working population of India is emploed Tertiar sector Secondar sector rimar sector None of the above. (vii) Which of the following polic is controlled b the Central Bank of a countr Fiscal polic Monetar polic Wage polic Eport polic. /01/E&S Contd...

3 : 3 : 15 (viii) Which one of the following items generall accounts for the highest share in total imports of India Capital goods etroleum and oil Fertilizers Iron and steel. Commercial banks create credit On the basis of their capital On the basis of their cash deposits On the basis of their total assets On the basis of their net profits. () When was the World Trade Organisation established Distinguish between an three of the following : (iv) 'Inductive reasoning' and 'deductive reasoning'. 'Short-run equilibrium of a firm' and 'long-run equilibrium of a firm'. 'rivate income' and 'personal income'. (1 mark each) 'Cost of production in monopolistic competition' and 'selling costs in monopolistic competition'. (3 marks each) Re-write the following sentences after filling-in the blank spaces with appropriate word(s)/figure(s) : An econom alwas has of resources as compared to the wants to be satisfied. /01/E& S.T.O. 15/

4 15 : 4 : In case of inferior goods, the income effect is. (iv) (v) (vi) is one of the factors of production which is provided free of cost b nature. er capita of manufactured and consumer goods is considered as most widel accepted measure of standard of living and qualit of life. refers to the practice of sale and purchase of commercial papers and government securities b the RBI in the market. Fiscal polic is an important and effective instrument to influence business environment of a in a countr. (1 mark each) 3. Attempt an three of the following : What do ou mean b 'distributive justice'? What are the difficulties in achieving this objective? What does the law of variable proportions state? Eplain the assumption(s) on which the law of variable proportions is based? "An increase in national income leads to a corresponding increase in economic welfare of the societ.'' Comment. (iv) What are the new challenges faced in the conduct of monetar polic in India? (5 marks each) 4. Attempt an three of the following : How is the concept of elasticit of demand useful to the government as well as the business sector? How would a monopol firm determine the price and output, if it decides to charge different prices in different markets? How does foreign trade contribute to economic growth of a countr? Eplain. (iv) How 'globalisation' has helped Indian econom? (5 marks each) /01/E&S Contd...

5 : 5 : 15 ART (Answer Question No.5 which is compulsor and an two of the rest from this part.) 5. State, with reasons in brief, whether the following statements are true or false : The larger the size of the sample, the less accurate the results are likel to be. Secondar data need utmost care in their use. The sum of deviations of values is maimum when these deviations are taken from their arithmetic mean. (iv) The value of correlation coefficient cannot be negative. (v) Inde numbers are often known as the barometer of economic activit. B ( marks each) Write the most appropriate answer from the given options in respect of the following : Statistics is concerned with Onl numerical statements of facts Onl statistical methods Both and above None of the above. The entire structure of statistical analsis for an enquir is based on sstematic resentation of data Collection of data Tabulation of data Analsis of data. In chronological classification, data are classified on the basis of Attributes lace Time Class intervals. (iv) If the arithmetic mean of 7 observations is 100 and that of 3 observations is 50, the combined arithmetic mean would be /01/E& S.T.O.

6 15 : 6 : (v) In a frequenc distribution, if variance is 5 and arithmetic mean is 10, then the coefficient of variation would be 50% 50%.5% None of the above. (vi) Spearman's rank correlation coefficient 'R' is equal to 6 Σ d n(n i 1) 6 Σ di 1 3 n n Σ d 1 i 3 n n 6 Σ di 1 n(n 1) (vii) Seasonal variations are caused b Growth of population Business ccles Technological improvements Climate, custom and traditions. (viii) Time reversal test is satisfied when = 1 01 Q 01 = 1 01 Q 10 = 1 10 Q 01 = 1. Which of the following is a cause of distrust of statistics Ignorance of the common man Lack of special skill and abilit in the statistics No stamp of accurac in the data All of the above. () Multiple bar diagrams are One dimensional diagrams Two dimensional diagrams Three dimensional diagrams None of the above. (1 mark each) /01/E&S Contd...

7 : 7 : Distinguish between an three of the following : 'Histogram' and 'histograph'. 'Mathematical averages' and 'positional averages'. 'Lorenz curve' and 'Gini coefficient'. (iv) 'Simple correlation' and 'partial correlation'. (3 marks each) Re-write the following sentences after filling-in the blank spaces with appropriate word(s)/ figure(s) : (iv) (v) (vi) Statistics relates to of facts. Median is a average. Square of the standard deviation is known as the of the distribution. is the tendenc of data to increase or decrease over a long period of time. In a class, the end values i.e., highest and lowest values are known as of that class. is the step preceding tabulation. (1 mark each) 7. Attempt an three of the following : What is tabulation? Discuss the essential components of a table. Discuss various functions performed b statistics. What is 'forecasting'? Discuss different surve methods available for forecasting. (iv) Compare the dispersion in the following two series through quartile deviation measures : Height (in inches) Weight (in pounds) (5 marks each) /01/E& S.T.O.

8 15 : 8 : 8. Attempt an three of the following : Represent b using the multiple bar diagrams the changes in the students enrolment in four faculties of a college during the last three ears : Facult No. of Students Arts Science Commerce Law (5 marks) An investor bus `1,500 worth of shares in a compan each month. During the first four months he bought the shares at a price of `10, `15, `0 and `30 per share respectivel. What is the average price paid for the shares bought during these four months? (5 marks) From the following data, calculate the rank correlation coefficient : X Y (5 marks) (iv) From the following data, obtain the Fisher's ideal inde number : Year Rice Wheat Barle rice Qt. rice Qt. rice Qt (5 marks) 0 /01/E&S Contd...