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 Series ARSP/09 Set ~ 9
Roll No. Q.P Code 15/9/9
Candidates must write the Q.P Code
on the title page of the answer-book.

 Please check that this question paper contains 4 printed pages.

 Q.P. Code given on the right hand side of the question paper should be written
on the title page of the answer-book by the candidate.
 Please check that this question paper contains 34 questions.
 Please write down the serial number of the question in the answer-book
before attempting it.
 15 Minute times has been allotted to read this question paper. The question
paper will be distributed at 10:15 a.m. From 10.15 a.m to 10.30 a.m, the students
will read the question paper only and will not write any answer on the answer –
book during this period.

ECONOMICS

Time allowed: 3 hours Maximum Marks: 80

General Instructions:
1. This question paper contains two sections:

Section A – Micro Economics

Section B – Statistics

2. This paper contains 20 Multiple Choice Questions type questions of 1 mark each.

3. This paper contains 4 Short Answer Questions type questions of 3 marks each to be answered in 60 to 80 words.

4. This paper contains 6 Short Answer Questions type questions of 4 marks each to be answered in 80 to 100 words.

5. This paper contains 4 Long Answer Questions type questions of 6 marks each to be answered in 100 to 150 words.

Section A
1. Assertion (A): Statistical techniques are used to analyze economic problems of countries like poverty, price [1]
control, etc.
Reason (R): The policy of family planning can be made effective in controlling the population of the country.

a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
explanation of A. correct explanation of A.

c) A is true but R is false. d) A is false but R is true.

2. Paasche's index number is expressed in terms of: [1]

a) b)
∑ Pn qn ∑ Po qo

∑ Po q ∑ Pn q
n o

c) ∑ Pn qo
× 100 d) ∑ Pnq n

∑ Po q ∑ Po qn
o

3. If there is a perfect disagreement between the marks in geography and statistics ,then what would be the value of [1]
rank correlation coefficient?

a) - 1 b) 0

c) 1 d) 5
4. Calculate price index number for 2004 taking 1994 as the base year from the following data by simple [1]
aggregative method:

Commodities A B C D E

Price (1994) (Rs) 100 40 10 60 90

Price (2004) (Rs) 140 60 20 70 100

a) 140 b) 150
 c) 120 d) 130
5. Suppose we want to know the average changes in the price of a set of commodities in 2010 with respect to the [1]
prices of same set of commodities in 2008. In this case what will be the base year?

a) 2010 b) 2000

c) 2008 d) None
6. Index number for the base period is always taken as [1]

a) 100 b) 1

c) 50 d) 200
7. Dispersion in statistics means: [1]

a) Lack of correlation. b) Lack of variability

c) Degree of scatteredness from a central value d) Lack of scalability

of a variable.
8. Which of the following is a graphic representation of a cumulative frequency distribution? [1]

a) Histogram b) Frequency Polygon

c) Pictograph d) Ogive
9. Purchasing power of money is [1]

a) None of the given b) Equal to price index number

c) Reciprocal of price index number d) Unequal to price index number

10. Calculate Pearson's correlation coefficient from the following data: [1]

X 10 12 8 15 20 25 40

Y 15 10 6 25 16 12 8

a) -0.18 b) -0.14

c) 0.12 d) +0.25
11. Mr. Ashok was getting Rs.400 in the base year and Rs.800 in the current year. If Consumer Price Index is [3]
Rs.350, then what extra amount is required for maintaining the earlier standard of living?
12. State and illustrate mathematical properties of median. [3]
OR
The mean of 200 items was 50. Later it was discovered that two items were misread as 92 and 8 instead of 192 and
88. Find the correct mean.
13. Differentiate between Simple table and complex table with examples. [4]
14. What is a false base line? How is it different from a kinked line? [4]
OR
Give the features of a good diagrammatic presentation.
15. What are different types of errors in collection of data? [4]
16. Karl Pearson's Method is superior to Rank Correlation. Do you agree? Justify your answer. [6]
17. Give formula for: [6]
a. Simple mean in individual series by short cut method
 b. Weighted mean
c. Simple mean in continuous series by direct method
d. Simple mean in discrete series by short cut method
e. Combined Mean
f. Simple mean in continuous series by step deviation method
OR
Find out mode from the following data.

Size 0-4 4-6 6-10 10-15 15-20 20-30 30-35 35-40

Frequency 2 4 3 5 2 20 6 8

Section B
18. A straight line supply curve cuts the Y-axis in its negative range. What is the elasticity of supply? [1]

a) perfectly inelastic b) unitary elastic

c) highly elastic d) less elastic

19. Does production takes place only on PPC? [1]

a) No b) Can’t say

c) Sometimes d) Yes
20. If demand for a product falls, equilibrium price will: [1]

a) fall b) rise

c) neither of the two d) either of the two

21. In which market form the Average revenue is equal to marginal Revenue? [1]

a) Monopoly b) Monopolistic competition

c) Oligopoly d) Perfect competition

22. Implicit costs are [1]

a) Same as explicit costs b) Total cost

c) Opportunity costs d) Imputed costs

23. Assertion (A): An individual is influenced by emerging trends and fashions. [1]
Reason (R): An individual simply wants to be trendy accordingly, one prefers to buy more of a commodity.

a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
explanation of A. correct explanation of A.

c) A is true but R is false. d) A is false but R is true.

24. ____________ is an ideal market? [1]

a) Monopolistic competition b) Monopoly

c) Perfect competition d) Oligopoly

25. The Total revenue become negative when [1]

a) TR is constant and maximum b) TR stops rising at increasing rate

c) Never d) TR starts rising

26. Per unit cost of a good is called: [1]

a) Marginal cost b) fixed cost

c) variable cost d) average cost

27. The concept of the supply curve is relevant only for: [1]

a) Perfect competition b) Oligopoly

c) Monopolistic competition d) Monopoly

28. Define Production Possibility Curve. Explain, why it is downward sloping from left to right? [3]
OR
Why is a production possibility curve concave? Explain.
29. What do you mean by price ceiling? [3]
30. Explain with the help of diagram the affect of the following changes on the demand for a commodity: [4]
i. An unfavourable change in taste of the buyers for the commodity.
ii. A fall in the income of its buyer if the commodity is inferior.
31. The following table shows the total cost schedule for a competitive firm. It is given that the price of the good is ₹ [4]
10. Calculate the profit at each output level. Find the profit-maximizing level of output.

Output TC (₹)

0 5

1 15

2 22

3 27

4 31

5 38

6 49

7 63

8 81

9 101

10 123

OR
What is producer's equilibrium? Explain the conditions of producer's equilibrium through the 'marginal cost and
marginal revenue' approach. Use diagram/schedule.
32. Define an indifference curve. Explain why an indifference curve is downward sloping from left to right. [4]
33. State the behavior of marginal product in the law of variable proportions. Explain the causes of this behavior. [6]
34. Answer the following questions [6]
(a) State the total expenditure method of measuring price elasticity of demand. [3]
(b) When price of a goods falls from ₹ 15 per unit to ₹ 12 per unit, its demand rises by 25 per cent. [3]
Calculate price elasticity of demand.