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Old January 13th, 2014, 11:23 AM
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Join Date: Jun 2013
Default Re: SET Economics Question Paper

SET Exam is generally conducted for the recruitment of Lecturership.

SET exam pattern is given below:
SET exam consists of three papers.

Paper-I shall be of general nature. It will primarily be designed to test reasoning ability, comprehension, divergent thinking and general awareness of the candidate.
60 multiple choice questions of two marks each will be given, out of which the candidate would be required to answer any 50.

Paper-II shall consist of 50 objective type compulsory questions based on the subject
selected by the candidate.
Each question will carry two marks.

Paper-III will consist of 75 objective type compulsory questions from the subject selected by
the candidate.
Each question will carry two marks.
There will be no negative marking.

Few questions of SET Economics are given below:
The subject matter of price theory is
A) Behaviour of industry’s decision making
B) Economic behaviour of the entire country
C) Economic behaviour of individual decision making units
D) Behaviour of all decision making units taken together

The Engel curve shows
A) The amount of a commodity that the consumer would purchase per unit of time at various levels of total income
B) The amount of a commodity that the consumer would sell at a given level of income C) The amount of consumer durables that the consumer would purchase per unit of time at various levels of total income
D) The amount of consumer non durables that the consumer would purchase per unit of time at various levels of income

Hicksian substitution effect refers to
A) The change in the quantity demanded of a commodity resulting from a change in its price, while holding real income constant by keeping the consumer on the same indifference curve before and after the price change
B) The change in the quantity supplied of a commodity resulting from a change in its price, while holding real income constant by keeping the consumer on the same indifference curve
C) The change in the quantity demanded of a commodity from a change in its price, while holding absolute income constant by keeping the consumer on the same indifference curve before and after price change
D) The change in the quantity demanded of a commodity resulting from a change in its price, while holding income constant by keeping the consumer on the same indifference curve before and after the price change

Transitivity assumption in Revealed Preference theorem states that
A) If the consumer is observed to prefer basket A to B, then this consumer will never prefer B to A
B) The consumer can be induced to purchase any basket of goods
C) If A is preferred to B, and B to C, then A is preferred to C
D) A consumer’s preferences can be inferred

The Learning Curve is
A) Positively sloped
B) Negatively sloped and convex to the origin
C) Right angled
D) A horizontal straight line parallel to X axis

For more questions,here I am giving attachment
Attached Files Available for Download
File Type: pdf SET Economics Question Paper.pdf (539.4 KB, 37 views)
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