trb.tripura.gov.in STPGT Economics Previous Question Paper 2017 : Selection Test for Post Graduate Teachers

Organisation : Teachers’ Recruitment Board, Tripura
Exam : STPGT – Selection Test for Post Graduate Teachers
Document Type : Previous Year Question Paper
Subject : Economics
Code No : AF17—XVIII
Year : 2017
Website : https://trb.tripura.gov.in/

TRB Tripura STPGT Economics Previous Question Paper

Question Paper of TRB Tripura Selection Test for Post Graduate Teachers Economics Question Paper 2017 is now available in the official website of Teachers’ Recruitment Board, Tripura.

Related : TRB Tripura STPGT Education Question Paper 2017 : www.pdfquestion.in/29562.html

Instructions for Candidates

1. Use Black Ballpoint Pen only for writing particulars of this Question Booklet and marking responses on the OMR Answer Sheet.
2. This test is of 2 hours and 30 minutes duration and consists of 75 MCQ-type questions. Each question carries 2 marks.

3. There is no negative marking for any wrong answer.
4. Rough work should be done only in the space provided in the Question Booklet.

5. The answers are to be marked on the OMR Answer Sheet only. Mark your responses carefully since there is no chance of alteration/correction.
6. Use of eraser or whitener is strictly prohibited.

Download Question Paper :
https://www.pdfquestion.in/uploads/STPGTEco.pdf

Model Questions

Direction : Answer the following questions by selecting the correct option.
1. “Economics is a science.” The basis of this statement is
(A) relation between cause and effect
(B) use of deductive method and inductive method for the formations of laws
(C) experiment
(D) All of the above

2. According to mercantilist school of thought
(A) imports should be greater than exports
(B) agriculture development is key to growth
(C) stock of gold is an indicator of wealth
(D) None of the above

3. In order to explain economic principles, the example of Robinson Crusoe was often given, because
(A) he was an economist
(B) he was the first Nobel laureate in economics
(C) he was an efficient entrepreneur
(D) None of the above

4. Economics can be best studied by
(A) inductive method
(B) deductive method
(C) analysis of data
(D) the combination of inductive and deductive methods

5. The falling part of total utility curve shows
(A) negative marginal utility
(B) increasing marginal utility
(C) decreasing marginal utility
(D) None of the above

6. The total utility of a commodity can be found by
(A) multiplying the number of units by its marginal utilities
(B) adding up the marginal utilities of all units
(C) multiplying price by the number of units
(D) None of the above

7. If equation of the demand function is q = 30 – 4p, then what will be the elasticity of demand when price p = 3 ?
(A) – 3 2
(B) – 2 3
(C) – 3 4
(D) None of the above

8. Cross elasticity of complementary goods is
(A) negative
(B) high
(C) positive
(D) None of the above

9. The total effect of a price change of a commodity is
(A) substitution effect + price effect
(B) substitution effect + income effect
(C) income effect + price effect
(D) None of the above

10. Slutsky theory in consumption theory relates to
(A) income effect
(B) substitution effect
(C) Both (A) and (B)
(D) None of the above

11. The revealed preference theory is based on
(A) utility and demand
(B) introspection
(C) observed consumer behaviour
(D) None of the above

12. In a Cobb-Douglas production function Q = 40 L0×5.K 0×5, the output (Q), if L = 16 and K = 9, is
(A) 500
(B) 480
(C) 400
(D) None of the above

13. The elasticity of substitution between two inputs in CES production function
(A) decreases continuously
(B) increases continuously
(C) remains constant
(D) None of the above

14. Rectangular hyperbola is the shape of
(A) average fixed cost curve
(B) total fixed cost curve
(C) marginal cost curve
(D) None of the above

15. The vertical distance between total variable cost curve and total cost curve is equal to
(A) total fixed cost
(B) average cost
(C) marginal cost
(D) None of the above

16. If market demand curve is 200 – 25P and market supply curve is – 100 + 25P, then equilibrium output in the market would be
(A) 25 units
(B) 100 units
(C) 50 units
(D) None of the above

17. In a perfectly competitive market, if there is an increase in supply
(A) price and quantity both will increase
(B) price and quantity both will fall
(C) price will fall and quantity will increase
(D) None of the above

18. In perfect competition, the total revenue curve of a firm is a/an
(A) upward going line passing through the origin
(B) horizontal straight line
(C) vertical straight line
(D) None of the above

19. On a graph for a monopolist or monopolistic competitor, which of the following curves coincide?
(A) The demand and marginal revenue curves only
(B) The average revenue and marginal revenue curves only
(C) The demand, average revenue and marginal revenue curves only
(D) None of the above

20. Marginal revenue of a monopoly firm is less than the price, because
(A) demand curve has a positive slope
(B) demand curve has a negative slope
(C) monopolist incur losses
(D) None of the above

21. Imposing a lump-sum tax on a monopoly firm will result in
(A) price reduction
(B) price increase
(C) No effect on price and output
(D) None of the above

22. When price discrimination is done for each unit sold, it is called the price discrimination of the
(A) third degree
(B) second degree
(C) first degree
(D) None of the above

23. Under oligopoly, the price rigidity is the result of
(A) product differentiation
(B) kinked demand curve
(C) interdependence among the firms
(D) None of the above

24. Under Cournot’s model, the intersection of reaction curves shows
(A) the price charged by each seller
(B) the output of each seller
(C) both price and output of each seller
(D) None of the above

25. Game theory explains the behaviour of
(A) interdependent persons
(B) independent persons
(C) persons who are not related
(D) None of the above

26. According to modern theory, rent is equal to
(A) total payment on a factor
(B) total opportunity cost
(C) total payment less supply price
(D) None of the above

27. Marginal revenue product curve is a/an
(A) inverted U-shaped curve
(B) upward going curve
(C) U-shaped curve
(D) None of the above

28. Liquidity trap is a phenomenon which implies
(A) rate of interest cannot change
(B) rate of interest cannot fall below a particular level
(C) liquidity cannot change
(D) None of the above

29. Efficiency in the distribution of products among consumers occurs when
(A) price = marginal cost
(B) marginal rates of technical substitutions are equal
(C) consumer’s marginal rates of substitutions are equal
(D) None of the above

30. A solution of Walrasian general equilibrium will exist if and only if
(A) the condition of Pareto’s law of income is satisfied
(B) Pareto’s condition of optimality is satisfied
(C) Hicks’ stability conditions are satisfied
(D) None of the above

31. The difference between Gross Domestic Product and Gross National Product is equal to
(A) net income from abroad
(B) depreciation
(C) transfer payments
(D) None of the above

32. Net National Product at market price and Net National Product at factor cost will be equal when there is/are
(A) no direct tax
(B) no direct tax and no subsidy
(C) no subsidy
(D) None of the above

33. Domestic factor income consists of income generated by
(A) the resident producers only
(B) the non-resident producers only
(C) all the producers within the domestic territory of the country
(D) None of the above

34. A sells intermediate inputs worth R400 to B. B sells the manufacture goods worth R400 to C and worth R200 to D. C sells his goods to D for R500. D sells the final goods to consumers for R850. What is the gross value added at market price?
(A) R600
(B) R850
(C) R700
(D) None of the above

35. In a circular flow of income model in macroeconomics,
(A) the firms provide goods and services to households
(B) the firms provide factor services to the households
(C) the households provide factor services to firms
(D) Both (A) and (C)

36. GNP (Gross National Product) is the gap between
(A) GNP and NNP (Net National Product)
(B) GNP and depreciation
(C) potential and actual GDP (Gross Domestic Product)
(D) None of the above

37. In the classical model, real wage rate is assumed to be
(A) flexible both in the upward and downward directions
(B) flexible in the upward direction but rigid in the downward direction
(C) rigid in the upward direction but flexible in the downward direction
(D) None of the above

38. In Keynesian analysis
(A) both demand for and supply of labour are functions of money wages
(B) demand for labour is a function of real wages but supply of labour is a function of money wages
(C) both demand for and supply of labour are functions of real wages
(D) None of the above

39. Unemployment rate is a ratio between unemployed population and
(A) employed population
(B) total population
(C) total labour force
(D) None of the above

40. In the IS curve, if interest rate goes up
(A) saving also increases
(B) investment declines
(C) Both (A) and (B)
(D) None of the above